Cyber breaches impact 46% of businesses, with fewer than 1000 employees, potentially causing financial loss, reputational damage, operational disruption, and legal consequences.
This demonstrates that small and medium-sized businesses (SMBs) are anything but immune to cyber attacks and their repercussions. And that the need for robust cyber security is growing as the digital landscape continues to expand and evolve. Learn from Philip Ridley, Head of the Cyber Security Division at IntaForensics, about the importance of being cyber secure in today’s digital world, and implement practical strategies to achieve it.
Admitting your security problem is the first step
Embracing cyber security readiness means accepting the reality that, in today’s digital age, your business will inevitably face cyber threats. Phishing, for instance, is a common threat where attackers use deceptive tactics to try and access confidential data. In 2022, compromised credentials from employees having their login information misused or stolen, caused 19% of all data breaches across organisations. The global impact of this type of data breach reached an average cost of $4.35 million, a 3% increase from 2021.
Acknowledging security shortcomings puts you in a better position to manage and evaluate safeguards effectively – crucial in the ever-changing digital environment. With Artificial Intelligence (AI)’s rapid advancement alone, cyber threats will likely become more complex and harder to detect. It’s never been more essential for businesses to stay current with their security measures and take a proactive approach. But we recognise that there are significant obstacles stopping SMBs adequately protecting themselves.
The measures to prevent cyber attacks and the challenges involved
To protect your business from cyber attacks, we believe the most effective approach is to implement Security Information and Event Management (SIEM) and establish a Security Operations Center (SOC).
- What is SIEM? – Security Information and Event Management (SIEM) is a technology platform designed to collect, analyse and monitor security data from various sources, providing swift alerts and insights for improved threat detection and response.
- What is SOC? – A Security Operations Centre (SOC) is a dedicated facility where professionals manage and respond to security incidents. A SOC can be on-site, run by a team of security analysts and engineers, or cloud-based, allowing professionals to work remotely with access to necessary resources.
Simply put, when a potential security threat is detected through SIEM, it triggers an alert in the SOC where security experts can take the necessary steps to investigate and respond to the threat.
We often see SMBs with limited budgets try to self-manage their SOC and SIEM to save costs. But the significant upfront investment and the need for a skilled team to operate the SOC and effectively use the SIEM technology can present obstacles. Busy IT teams, focused on maintaining essential IT functions, struggle to allocate sufficient resources to security. As a result, SMBs find it difficult to fully benefit from their security investments, leaving them at greater risk of being more exposed to online threats.
Does cost-effective, robust cyber security exist?
Many organisations choose to outsource their essential security monitoring services to a Managed Security Service Provider (MSSP). This option is cost-effective because MSSP’s offer comprehensive cyber security services, including SOC and SIEM, for a predictable monthly fee.
Outsourcing also eliminates the need for upfront investments and ongoing personnel expenses. While providing expert-level security monitoring capabilities that might be unattainable for SMBs with limited resources. As specialists in their field, MSSP’s also often possess valuable insights into the broader threats on the internet. They’ll make sure you don’t overlook wider or future threats in the digital landscape as it inevitably changes.
Custom cyber security for small-medium businesses
At IntaForensics, we understand SMBs’ unique needs and constraints. We create tailored security plans, ensuring the right protection for your business. Our flexible, consultative approach combines our SMB experience and insights into your specific cyber security challenges to deliver targeted support, which can include:
- Continuous monitoring and response to security incidents
- Real-time detection of cyber attacks, digital break-ins and suspicious activities
- Preventing security breaches by identifying issues through regular scanning and addressing vulnerabilities
- Scanning for new cyber threats and using that information to proactively deploy enhanced security measures
- Using threat intelligence to strengthen your defence with cutting-edge security measures against emerging cyber threats
- Rapid response and system recovery during security breaches with expert incident services
- Minimising compliance-related risks by working to industry standards and regulations
Our reputation for dependable, high-quality cyber security services is backed by satisfied clients and numerous accreditations, including:
- ISO/IEC certifications for quality and information security management
- Membership with Crest as a Crest Approved Penetration Tester
- An IASME certified body for the government-backed Cyber Essentials
- ‘Assured Service Provider for Cyber Essentials’ certification
All of which demonstrates our commitment to providing cyber security services that meet the highest industry standards.
Seamlessly protect your business with IntaForensics as your all-in-one security partner. Get in touch.