If you follow the news, you will know that cybersecurity incidents are affecting big brands worldwide. And while it might appear just like another problem for big brands, the truth is that organizations of all industries and kinds are vulnerable to cyberattacks.
Additionally, endless businesses are shifting their functions online because of the pandemic outbreak and that has resulted in less-secured entities falling prey to hackers. The PurpleSec report says that more than 18 million websites today are affected by malware weekly, and about 1.5 million new phishing websites are developed every month. According to the Cybersecurity Ventures report, cybercrime damages would be $6trillion by 2021.
Ransomware attacks have increased to 62% globally between web-based attacks and malware. And according to a Gartner report, businesses should put out over $170.4 billion annually for initiatives against cybersecurity by 2022. To know more about this, you can check out RemoteDBA.com.
The security issue at Wells Fargo
A few years back, the leading brand Wells Fargo witnessed a security breach. The brand got alerted by MicroBilt, an online customer and commercial credit bureau information provider, about an individual who used the access code for Wells Fargo to get the data of about 7,000 customers from the computers. Commenting on this issue, a Wells Fargo spokesperson asserted that the organization instantly came up with a complete-scale investigation on how the data got breached. It also alerted the US Secret Service concerning the data theft.
Once the breach was discovered, the spokesperson also said that MicroBilt had forwarded a list containing 7,000 names that had data drawn in the concerned data theft. After sorting the duplicate names, they had carved the list down and came down to about 5000 names. Also, Wells Fargo decided that in spite of the continuous law enforcement investigation that was going on, they would alert all the affected customers. The spokesperson wasn’t equipped with the precise numbers due to the investigation. However, every victim was promised to receive an identity theft security service for about a year. This step was taken because it’s the organization’s onus to secure them. And the company has done all it can so that customers can secure their accounts.
Irrespective of the fact that the new-age hackers are tech-savvy, it’s not very difficult to protect your business from malware and other cyber security attacks. And arriving from the custom software provider that results in cybersecurity compliance software to the companies all through the industry spectrum, today you have several technologies and a few best practices that can enable a company to stay secured from a security attack. This article discusses a few critical initiatives.
Secure the data using a role-based access control
Digitizing the business services and procedures has saved many organizations billions worldwide, maximized business effectiveness, and driven successful results because more facets got automated and linked to the online platforms. But when a platform gets connected online, it can leave the door open for several players to walk in and create an attack.
That is not all. It also takes many levels of access to create a data breach. Hence, securing all the crucial data is essential to avert an online file breach. It is necessary to ensure that the access to crucial data and files is limited to just the essential employees, and it is one of the ideal ways for resolving risks. And to attain this, organizations should resort to role-based access control software. Such software enables you to limit specific data and makes it only accessible for complete viewing and other edits only by sanctioned users. Making the most of this software is an efficient way to dramatically enhance the business’s cybersecurity. And it makes it challenging for the hackers to have access to secured and limited files.
The VPNs and MFAs – The crucial cybersecurity solution
Close to 95% of the web application attacks take place making use of stolen or weak credentials. And by deploying a two-factor authentication and multifactor authentication (MFA) along with continuous encryption, the businesses can offer an added security layer against the elementary data breachers. When you add an increased number of safe authentication processes, it becomes challenging and complex for the cybercriminals to pass through this extra security layer.
Other than this, functioning on an unsecured Wi-Fi network is all about begging the hackers to arrive and create havoc. And while most of the networks are safe, the new-age businesses today are expanding much more than the physical office space, which makes the organizations stay exposed to the unsecured networks. It’s one of the lessons that many people learned during the pandemic. And in order to combat this, it is necessary to invest in a VPN (Virtual Private Network). Making the most of the private tunnels developed by the VPNs can enable businesses to retain a mobile workforce and also retain their cybersecurity.
Choosing a custom software development
There are times when several COTS (consumer off-the-shelf) software solutions get supported by certain organizations with a robust cybersecurity initiative. However, the pervasiveness of these organizations can make them vulnerable to hackers and cybercriminals. It raises the scope for them to create an open channel which leaves the business vulnerable as well. Hence, investing in customized software development, regardless of tailor-made integrations or brand-new solutions with the recent COTS software, can inhibit and deter hackers from moving into a network.
Are you planning to walk this way? If yes, it is essential to analyze the custom software developers to make sure that doesn’t just have the necessary expertise to deploy and create a solution, but also possess the cybersecurity know-how and the relevant industry knowledge to make sure that the software solution can cater to the security and business requirements of the company.
Popular brands and organizations globally have been exposed to cybersecurity issues. However, today it is essential to take the correct measures to secure their critical data and their brand reputation, which gets compromised with any security breach.