A common misconception for small businesses is that your business is too small to be a target, but unfortunately, this is not the case. According to a report by Cybersecurity ventures, worldwide cybercrime expenses are anticipated to increase by 15% each year, reaching around USD 10.5 trillion by 2025. Businesses’ risk of being targeted by a Cyberattack is increasing as they embrace more creative technology to simplify operations.

In 2020, cyberattacks grew in large numbers and as per the estimates, the rise in attacks during the pandemic was approximately 100%. Now, businesses worldwide are confronted with unprecedented levels of risk. As a result, security remains the top priority for IT teams. Still, businesses that start at a small scale are not well aware of the Cyberattacks and as a result, they either fail or face huge financial losses. Following are some of the most critical types of attacks that every organization should be aware of.

Top CyberThreats That Every Business Should Be Aware Of

  • Phishing Attacks
    The biggest and widespread threat facing small businesses are phishing attacks. Phishing accounts are responsible for around 32% of confirmed data breaches and 78% of all cybercrimes. Phishing attack occurs when a hacker pretends to be someone employees can trust, be it their manager or the CEO, and entices a user to click a malicious link, download a malicious file, or give them access to account details, credentials, payment information etc. . Here, the most common scenario is when hackers start emailing from a slightly similar email ID. Typically, a hacker attaches a link or some file along with the mail so that people can enter their personal information.
  • Cloud Jacking
    This is the process where cloud computing is infiltrated by a third party. Once the hacker gets into the organization’s cloud, they try to reconfigure the cloud code so as to manipulate the sensitive information, communication, & other data to expand their reach to take control of the entire cloud. Furthermore, cybercriminals use this opportunity to develop phishing schemes. This results in multiple mishaps like leakage of sensitive information, financial loss, etc.
  • Ransomware
    Ransomware is one of the common and serious cyber attacks that involves encrypting company data so that it cannot be used or accessed, until a ransom is paid to unlock the data. The ransom’s immediate losses are merely the tip of the iceberg. The monetary costs of missed production and data loss are frequently most devastating to a firm. This is the reason why 60% of small firms fail within six months after a cyber intrusion. Ransomware is one of the top cyber-attacks and a common method for criminals to target especially small firms.
  • Patch Management
    One of the most common vulnerabilities exploited by bad actors is related to out-dated software or patches.. As a result, failing to keep up with software patches exposes businesses to a variety of information security vulnerabilities. When attackers get aware of a software vulnerability, they exploit it to conduct a cyber assault. This trend in cyber security is exemplified by two large-scale cyberattacks that began in 2018. The attacks use a serious flaw in the Windows OS known as Eternal Blue. Organizations that failed to update their software were left exposed and ultimately, they face huge financial losses.
  • Deepfakes
    Deepfakes are used to develop fake versions of an organization to lure in unsuspecting customers and also to gain access to the sensitive information of a business or an individual. This attack moreover contributes to an advanced form of phishing attack which impersonates the CEO’s reputation where a hacker gives wrong instructions to the employees. This Cyberattack has been used over the last several years against both individuals and organizations. Such attack is developed by AI that takes an existing voice recording, photo, video to manipulate an organization or an individual’s image to falsify their action of speech.

In the past, organizations have faced several Cyberattacks and security challenges. However, the advancement in security systems presents opportunities for significant security growth. The passing year has demonstrated the fact that businesses must adapt to the modern world and this year’s advancements have resolved such problems to a great /extent. Taking assistance from SVAM International, a leading managed service provider is a great start to identifying and filling your business loopholes. Get in touch with our professionals, discuss your concerns, and get the best possible solutions.

Cyberthreats have increased rapidly during the last decade as cybercriminals have become more sophisticated and difficult to handle. Current security controls are not enough to protect the networks from highly skilled Cybercriminals. This is where Artificial Intelligence proves to be useful.Investing in AI with Cybersecurity helps companies better address network issues, financial loss, and brand reputation damage.There are numerous benefits that AI offers to businesses when combined with Cybersecurity.Let’s explore them one by one.Benefit 1 – AI Identifies Unknown Security ThreatsIn addition to identifying recent threats within an organization’s network, AI Cybersecurity can detect unknown threats as well. Such unknown threats can cause massive damage to the network. Therefore, it has become essential to use modern solutions like AI to prevent such attacks. AI can reduce repercussions from hacking or millions of attacks done by hackers with different motives.Benefit 2 – AI Offers Better Vulnerability ManagementVulnerability Management is vital to secure an organization’s network. Dissecting and accessing the existing security measures through AI can result in vulnerability management. It basically helps to assess systems faster than cybersecurity personnel which expands the critical thinking capacity. Overall, AI has made it possible for businesses to manage vulnerability and secure business systems in time.Benefit 3 – AI Accelerates Detection & Response TimesThreat detection is the foremost stage of securing a company’s network. If businesses detect some untrusted data from the beginning, it would protect the business from any irreversible damage to the network.Implementing AI with Cybersecurity is an effective solution as it scans the entire network and figures out the possible threats that can cause damage. Unlike a human, AI finishes such tasks faster and simplify the security tasks.Benefit 4 – AI Provides Better Security & Prioritize Cyber AttacksThe threats that businesses face keeps on changing with time as hackers implement new tactics every day. Due to this, it becomes challenging to prioritize security tasks for a business.Further, one of the biggest threats that make security more challenging is negligence and human errors. This is where deploying AI on the network detects different attacks and helps businesses to prioritize them and prevent them accordingly.Benefit 5 – AI Can Handle A Lot Of DataEven a small organization has so many activities to perform on a company’s network. It means a lot of data get transferred between customers and business every day.This is why they need data protection from malicious attacks, but Cybersecurity alone cannot identify all the possible threats.But if AI is implemented with Cybersecurity, one can easily detect any threat masked as normal activity. Its automotive nature allows it to skim through massive chunks of traffic and data altogether.Keeping the network and data security isn’t an easy job in today’s world. But, businesses can take a decisive step towards being safer by implementing AI to strengthen their security infrastructure.At SVAM, we offer professional AI services or more and the best business solutions. Consult our experts today and save your business from any Cyberthreat or attack in the coming time.
6 Phases Of Cyber Incident Response Plan
With the increasing rates of cyber attacks on global businesses, the importance of programs and processes to secure systems has risen significantly. Cybersecurity is one of the key services that businesses require to stay afloat in the 3rd decade of the 21st century.In the first half of 2020 alone, the number of cyber-attacks increased by a whopping 600%. For businesses, this is a noteworthy statistic as they have large amounts of data stored in their systems.In the case of a breach, the risk to this information stands at a high level. However, the inevitability of these attacks is why most organizations have an incident response plan as part of their cybersecurity processes.Needless to say, a business requires a robust cybersecurity incident response plan in order to prevent leaks and breaches. In addition, they also need to update their plan to stay safe in cyberspace.To start with, here are the 6 phases of an effective cybersecurity incident response plan. The 6 Phases of Cybersecurity Incident Response Plan
  • Preparing Preparation is always the first step. As an organization, you will need to accept that there is a looming possibility of a cybersecurity event on the horizon. Align your policies to information sharing, data protection, and network security with your existing infrastructure. Educate your employees about cybersecurity so that they can identify assets and vulnerabilities preemptively.
  • Identifying Identification, as the name suggests, is all about the discovery of a breach. It is the step where you identify if you have been breached or any of your data has been compromised. If yes, then you will need to further identify the extent, the effect, and the source of the breach.
  • Containment In this phase, you throw everything at the problem in order to contain it and mitigate the risks it poses to the organization after an attack has happened. You need to figure out how to contain the effects by considering what systems can be made offline and what can be deleted. Use this phase to derive long term and short effects of the attack.
  • Elimination/Solution This is where you will be addressing the source of the breach and deal with it in time to avoid being exploited again. This means releasing new patches, removing malicious software, and updating old systems. This phase helps you clear out any potential risks and start over without compromising on any valuable data.
  • Recovering Recovering is both, coming back from the attack and getting the systems back online after an incident. Needless to say, the recovery part comes after you have patched everything up. This step is all about testing, monitoring, and verifying the changes in the system. Skipping this part may prove to be disastrous.
  • Learning Lessons and Optimizing While everything else will help you get back up and running after an attack, this phase of the response plan is about future-proofing your business. Take your learning from this incident and make sure that you are safe in the future.
Your incident response plan for cybersecurity is a blueprint for your organization to fight back in the event of an attack. It needs to be thorough and detailed in order to provide the team with the right steps and the correct guidelines. As a leading managed service provider for cybersecurity, SVAM International is armed with all the latest tools and techniques to safeguard your systems from the looming threat of cyber attacks.
Cyber-attacks are a prevalent threat in the digital domain as transactions and conversations continue to move towards the digital space. Owing to the current healthcare crisis of a global pandemic, businesses from around the world were forced to move their operations online to be able to reach their audience. Taking advantage of this, hackers and attackers doubled down on their efforts to gain access to unauthorized information especially related to small and medium-sized enterprises.Research by Proof-point found out that more than 88% of businesses worldwide experienced a phishing attack of some kind, which is a worrying statistic. However, what helps businesses in such conditions is to be prepared for these attacks. Here are 5 tips to help SMEs prepare their businesses to be safe from cybersecurity threats.How SMEs can Prevent Cyber Attacks?
  • Update Software Being on the latest version of your tools and software has some advantages for your business as the new and improved version has a better level of security than the old and obsolete versions. A number of cyber attacks are successful simply because the platform was not updated to the latest version.
  • Use Strong Passwords Passwords are a safe way to gain access to all information that is available to the business but they can be cracked or misused. Making strong passwords with at least 3 random words is a good way to start. To make it even stronger, using a combination of uppercase and lowercase letters, numbers, and symbols works great. There are several random password generators available that can be used to create strong passwords for your systems. In fact, the best way to do passwords in your business is to create a strong password policy company-wide. 
  • Educate Staff This brings us to the next important point: educate your staff on cybersecurity. Cybint Solutions’s study on global cybersecurity facts states that more than 95% of cyber-attacks happen because of human error. Leaving important information like passwords lying around or sharing too much information with someone untrustworthy is how these things start. But educating employees can greatly reduce risk which is a good place to start securing your business.
  • Install Protective Software Viruses, Malware, and Ransomware are becoming common in the world of cyber threats as people continue to download from and interact with fishy online platforms. These small bits of software infect your digital devices and share your valuable information back to the origin of the attack, which is a concerning fact. Using anti-virus software and keeping them updated to the latest versions is one of the most basic requirements in today’s digital world.
  • Use Cloud Getting rid of old and obsolete legacy systems is another important step you should take to protect your businesses from localized cyber threats. The most common way a hacker can gain unauthorized access to your business is through your legacy system as they are physically available to be tampered with. Moving your system and solutions to the cloud will not only make them fast but also protect them from any kind of cybersecurity threat.
Protecting your business from such threats is now quickly becoming a fundamental part of operating on the internet. Whether it is your e-commerce website or collaboration software within the organization, SVAM International Inc. will take care of all your cybersecurity needs by providing secure development and application management services. Get a thorough assessment and consultation for your business today. Book a conversation with our experts today.
With advancement in technology, the need for robust security of the digital space has only increased. Cybersecurity is an integral part of the digital revolution in businesses of all scales and sizes, and yet, small and medium-sized businesses continue to be at a high risk of an unprecedented attack. In fact, a study conducted by Small Business Trends concluded that SMBs were targets of approximately 43% of worldwide cybersecurity attacks. This can be attributed to the fact that though SMBs tend to have more resources than an individual, they do not incorporate as efficient security measures as do bigger corporations.Furthermore, a study conducted by Unbrokerage conclusively proved that  60% of small businesses will no longer be a going concern within six months of facing a cyber attack. So as a small business owner, safety is a desert oasis, a mirage disguising nearly the double likelihood of falling prey to cybercrime.However, there are certain steps you can take to protect your business from such threats – have a look!How Small and Medium-Sized Businesses Can Enhance Their Cyber Security
  • Understand Emerging ThreatsTo begin with, one must first gather knowledge of the threat. Over the years, cyber attackers have schemingly devised a number of tactics to access sensitive information, private to businesses.Hacking:Hacking, or losing access to an unauthorized entity, is the most common form of cyber attacks that are a threat to SMBs. Hacking allows the hacker to view and manipulate data on the system, thus allowing the hacker to leak such information for monetary benefits.
    • Phishing: In phishing, the attacker gains access to sensitive personal information when a user shares it on a fraudulent website that is made to appear legitimate. This includes your passwords and banking information.
    • Malware:  Malicious software (or malware) is a program developed to access secure information and to share it with the attacker from your system. Although, it does not harm the hardware, it can do a lot of damage in terms of the data that it attacks.
    • Keylogging: Keylogging identifies the keystrokes that a user makes on their systems. It takes screenshots of your systems, possibly giving the hacker access to the sensitive information on one’s system. 
  • Educating The EmployeesOnce you have an understanding of how your system can be attacked, it is time to take measures against it. The first step is to educate your employees. Train them to identify high-risk online activity and warning signs of  malicious cyberattacks, and to prevent such mishaps.Make sure that their devices, whether provided by the company or whether they carry their own, are secure. Most importantly, have a strict password policy in place, and make sure to change your password frequently.
  • Keep Your Systems Up To DateWhile internal threats make up for a large portion of cyber-attacks in the world, the threat to your systems from the outside is equally concerning. Your hardware, software, and security systems need to stay up-to-date at all times. This includes installing a firewall for internet connections, regularly updating antivirus software, downloading new updates, and securing the workplace wifi. However, the best way to bring everything under a security umbrella is to consult a system integration expert and tie all your solutions together.
  • Have A Security Strategy The most proactive way of securing your business is to put a thorough strategy in place. With the use of cloud computing and system integration, you can secure a wide majority of your systems and sensitive information. So that in case there is a breach despite all the measures; you can respond appropriately to it.
Cyberattacks are on the rise, and the predictive numbers aren’t encouraging.Half of all respondents to ISACA’s 2018 State of Cybersecurity survey said they experienced an increase in the number of cyberattacks last year, with 80% saying they will likely or very likely experience an attack in 2018.“You’ll never be 100% secure, so there will always be those questions: Do I have a gap in my security [layers], how can I take a measure of where I am and how can I incrementally improve,” said Rich Licato, the CISO at the Airlines Reporting Corp. (ARC) and a member of ISACA, an international professional association focused on IT governance.Organizational risk and cybersecurity vulnerabilities will always exist in modern enterprises. But as the number of threats continues to rise, experts said that identifying and taking steps to close preventable security gaps represent real opportunities to strengthen enterprise defenses.Filling these cybersecurity gaps has become a top-level concern in recent years, gaining more attention from CEOs and boards of directors, and with reason: Minerva Labs surveyed 600 security professionals and found that two-thirds doesn’t believe their controls could prevent a significant malware attack on their endpoints; 75% doesn’t think their existing malware solutions could stop any more than 70% of infections; and half worries that file-less or analysis evasion capabilities of malicious software could get past their security measures.The 2018 Harvey Nash/KPMG CIO Survey found that improving cybersecurity is among the top business issues, with 49% of the responding 3,958 CIOs and technology leaders listing it as one of the top areas their boards want IT to address.But cybersecurity experts said that CISOs who implement generically broad policies without considering their own unique organizational risk often miss critical vulnerabilities.“We mainly see security gaps because most places aren’t doing security holistically,” said Mischel Kwon, founder and CEO of MKACyber Inc., a Fairfax, Va., company providing cybersecurity consulting services.“They’re doing compliance security: They’re running down regulations and checking the box. Or they’re shiny-object, security-methodology people: They see something shiny and they implement it. And when you’re one of those two types, it’s difficult not to have security gaps.”Kwon and others agreed that frameworks such as NIST 800-53 are instrumental to formulating solid cybersecurity strategies. However, these strategies still should be tailored to the organization based on the unique organizational risk of the business.“If you tried to apply every single control, it would be an absurd effort,” said Frank Downs, ISACA’s director of cybersecurity practices. “The whole point of the guide is to see what’s right for you; organizational discretion comes into play here.”

Incorporate security early in dev process

Security professionals are feeling the effects of today’s fast pace of change as they contend with constantly evolving privacy and security regulations, technologies and business strategies.
There’s a gap in what we think of as ‘secure by design.’ Security needs to be on the front end.
Tony BuffomanteU.S. leader for cybersecurity services, KPMG
“The pace is impacting security’s ability to keep up,” said Tony Buffomante, the U.S. leader for cybersecurity services at consulting firm KPMG.However, it’s not just the pace that can be an issue, Buffomante and others said; it’s also a question of timing. Too often, organizations adopt mobile, IoT or AI initiatives without security personnel input in the early stages.“There’s a gap in what we think of as ‘secure by design,’” Buffomante said, noting there has been a longstanding issue with business and technology moving first and then bringing security onto the project later. “Security needs to be on the front end.”Companies where the security leaders understand the enterprise business needs and associated organizational risk are able to close some of that gap, experts said.For example, no company can fully prepare for a zero-day attack. But many companies suffer successful cyberattacks that exploit known vulnerabilities in their technology stack because they fell behind on patching or implementing security updates, Downs said.Experts agreed that a static approach to security can create a number of gaps in enterprise defenses.“View it as a continuous process program you set up,” Licato said. “You’re never done. You’re always evaluating where you are and where you want to be, and you’re constantly shifting that.”Licato conducts annual audits and regularly pursues external certification such as the ISO/IEC 27001 as part of his team’s assessment of the company’s cybersecurity defenses. He uses such reviews not only as a report on completed tasks, but as a starting point for future work.“That is how we end up creating our strategic plan, what are we going to do this year and the next year. It’s a continuous self-evaluation,” he added.

Closing the cybersecurity gap

Most organizations have a growing number of tools meant to thwart attacks, but a large volume of security technologies spread across ever-more complex technology stacks also obscures potential cybersecurity vulnerabilities, Kwon said.“They can have a gap in visibility, a gap in what’s happening if they’re not managing their security data well,” she said.She explained that enterprises find it challenging to ensure that content from the different systems (such as proxy and firewall details) match up to create a holistic view that can then be assessed for success against the organization’s security needs.To avoid blind spots, Adrian Asher, CISO of the London Stock Exchange Group, said security leaders must invest in detective, reactive and responsive technologies as well as protective layers. For instance, he said he added Morphisec for moving threat defense after identifying a vulnerability to that class of attack in his existing security layers.Source : click here
However, with ever-growing threats from cybercriminals and advancements in attack methods, CIOs are eager to take all the right steps to ensure their organization’s data is adequately protected. There are several best practices every healthcare CIO should consider to control data access and secure healthcare communication.

Identity management and access control

Multifactor authentication (MFA), complex passwords, single sign-on and access management are critical first steps to ensure only authorized users can access data. Identity management platforms that include MFA and other security components can reduce the risk of a hacker infiltrating an environment by hijacking a user’s password. These systems are also important for managing and monitoring user access to healthcare data.

Alternative methods for health data transport

While CIOs continue to work on ensuring the protection of data within the hospital environment, another concern many of them have is around data security and protection during transport. Many of the traditional methods for secure healthcare communication, such as those that use web services, can still be vulnerable. As a result, some security experts are suggesting the use of blockchain as a method to transport healthcare messages securely. Many consider blockchain one of the best methods for freely transmitting data while maintaining security. Hospital CIOs should consider the technology as they look to improve their future data exchange security.

Protect information internally and externally

Hospital staff deal with two sets of data: patient data that is considered protected health information under HIPAA guidelines and business-sensitive data related to the hospital’s daily operations. Both sets are important and require the same level of protection. IT must ensure that they maintain access control over data internally and once it leaves the organization’s firewalls.Data loss prevention tools that trigger security events when specific criteria are met ensure that sensitive information is encrypted and prevent it from leaking out. For example, a user emailing protected health data should trigger automatic email encryption. Another example includes when protected data is copied to a local drive or USB flash drive.

Device security and controls

Access to information within a hospital now includes employees using their mobile devices to view health data. As more connected devices enter the hospital network, IT must ensure they have adequate tools to manage and monitor the different security policies around those connected endpoints. These tools would assist in keeping the devices up to date with security patches.

More end-user education and awareness

One of the realities of cyberattacks is that they are not 100% preventable by software and security products. This leaves hospitals vulnerable even if they are using the latest and greatest tools. Hospital CIOs can improve data protection by educating their end users on how to reduce their risk of attacks and infections by recognizing hidden threats. These include phishing emails, fake websites and password requests via email. The risks can be mitigated significantly by adopting an ongoing training and security awareness program to help users avoid harmful websites and email payloads.

Adopt strong employee and vendor policies

A widespread practice that most employers have is proper computer use and access policies for their personnel. This practice ensures that workers understand that as part of their employment agreement, they must be aware of how to handle sensitive data and are responsible for any negligence or foul play. As a result, IT must ensure that the policies in place are clear and employees understand what they mean in practice.Similar policies that go beyond that go beyond the business associate agreement must be put in place for vendors.  IT must ensure vendors that interact with the health system data have the appropriate security protections in place to adequately protect data.

Use intelligent threat protections

It has been estimated that hackers spend an extended period of time within an environment exploring the data and elevating their permissions within the targeted systems. As a result, hospitals must adopt tools that can proactively and intelligently monitor their environment for abnormal activities and maintain channels of secure healthcare communication. Many of the new security tools entering the market have adopted artificial intelligence to detect these activities by evaluating the different logs and user activities throughout the system. Some vendors refer to this new layer of security as advanced threat protection.

Maintain an incident response plan

Regardless of security tools and preventative steps taken to protect against data breaches, healthcare CIOs must always be prepared for the worst and have an outline that details the response plan. The Department of Health and Human Services offers guidance on how to respond to a breach.Source : click here