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Common Attack Vectors
And Keys to Protecting Your Business
Pondurance Helps Organizations to Manage Cyber Risk with its Risk-Based Approach
Learn how to combat cyber threats with Pondurance
Ransomware
Ransomware is a malicious type of software designed to encrypt an individual’s or organization’s data, rendering it inaccessible until a ransom demand is met. Ransomware attacks are becoming more prevalent against companies of all industries. Cybercriminals are changing the techniques they use to execute attacks. Initially, ransomware had a single function where the attacker entered a network and encrypted the data. It then evolved to double extortion where the attacker now steals data and threatens to leak it and encrypts the data and holds it for ransom.
Cybersecurity organizations like Pondurance take a risk-based approach to your cybersecurity needs and focus efforts aligned with your business objectives and desired outcomes. Pondurance assists organizations with implementing foundational controls and offers specialized services aimed at helping clients protect against potential threats like ransomware attacks. Download our eBook, or check out our blog library on ransomware to learn more.
- Keep all computers and devices patched
- Enable MFA
- Limit user access
- Allow only authorized applications
- Use network segmentation
- Limit remote access as much as possible
- Establish 360-degree visibility
- Monitor and analyze logs
- Provide consistent security awareness training
- Encrypt endpoints
Identify. Prioritize. Protect.
Your company has its own unique set of cyber risks. Your lines of business, your technical infrastructure, threats, employees, third-party vendors, and other variables all factor into your cyber risk profile.
Each year, risks continue to grow more complex and new threats raise their ugly heads. Though you can’t control the evolving cyber landscape, you can control your cybersecurity strategy.
By adopting a risk-based, proactive approach to cybersecurity aligned with your specific business objectives, compliance regulations, and desired business outcomes, you can prevent and protect your organization against cyber threats. Partnering with Pondurance will minimize your risk of falling victim to costly and damaging cyberattacks and build your cyber maturity and resiliency.
Malware
Malware, short for malicious software, is a term that encompasses a wide range of software programs designed with the intent to cause harm to computer systems, networks, and users. Cybercriminals create malware to gain unauthorized access to sensitive data, disrupt computer operations or networks, or simply spread chaos in the digital world. With the rise in our reliance on technology and the internet, it has become increasingly important for individuals and organizations alike to understand what malware is, how it works, and how they can prevent cyberattacks.
Protecting against malware requires an ongoing effort, and in many cases, organizations will implement foundational controls and partner with a cybersecurity adviser like Pondurance to ensure they have cybersecurity programs with comprehensive methods focused on their specific needs. Download our eBook to get started:
- Install reputable antivirus software and ensure it remains up to date
- Regularly update your operating system and all installed applications
- Enable built-in firewalls on your devices
- Be cautious of email attachments and links from unknown sources
- Utilize strong passwords and enable multifactor authentication (MFA) where possible
- Create regular backups of your important files and store them securely offsite
- Employee training – Educate staff members about potential threats such as phishing emails and social engineering tactics employed by cybercriminals
- Network segmentation – Divide your organization’s network into separate zones to minimize the spread of malware should an attack occur
- Vulnerability management – Regularly assess, identify, and remediate vulnerabilities in your IT infrastructure before they can be exploited by attackers
- Incident response planning – Develop a well-defined incident response plan outlining roles, responsibilities, and procedures to follow when faced with a security breach
Phishing
Phishing is a deceptive practice that cybercriminals employ to obtain sensitive information, such as login credentials, credit card numbers, and personal data from unsuspecting individuals. Cybersecurity experts have identified this nefarious activity as one of the most prevalent threats in today’s digital landscape. With a primary focus on email communications, phishing attacks often involve fraudsters posing as legitimate entities to deceive their targets into revealing valuable information or executing actions that could compromise their security. Organizations must remain vigilant in educating their staff about the various phishing examples and how to protect against such threats.
Additional Phishing Resources
Spear Phishing
Spear phishing is a highly targeted digital social engineering attack that aims to deceive individuals into divulging sensitive information or granting unauthorized access to their accounts. This form of cyberattack has gained notoriety in recent years due to its increasing prevalence and sophistication. Unlike traditional phishing techniques, which cast a wide net in hopes of ensnaring unsuspecting users, spear phishing involves meticulously crafted messages designed to appeal specifically to the intended victim. By impersonating familiar contacts or trusted organizations, these malicious communications can be exceedingly difficult to recognize and resist.
Protecting against spear phishing requires a multifaceted approach that combines employee education and training, robust email security measures, and swift incident response capabilities. By partnering with cybersecurity experts like those at Pondurance who offer managed detection and response and incident response services, organizations can significantly enhance their security postures and reduce the likelihood of falling victim to these highly targeted and deceptive attacks.
Additional Spear Phishing Resources
Business Email Compromise (BEC)
BEC is a sophisticated form of phishing attack that targets organizations and their employees. By exploiting human vulnerabilities, BEC perpetrators deceive victims into transferring funds or disclosing sensitive information to unauthorized recipients. A typical BEC attack often begins with a phishing email that appears to come from a trusted source such as a high-ranking executive within the organization.
The key to organizations protecting themselves and their employers from falling victim to a BEC scam is educating employees on how to scrutinize incoming emails for signs of fraudulence and how to validate requests for sensitive information. Organizations can instruct employees to contact the purported sender through an independent channel such as a phone call or text message, establish robust internal controls within the organization, implement policies requiring multiple approvals for large financial transactions, and conduct periodic audits and reconciliations to detect unauthorized payments.
Additional BEC Resources
Manage Cyber Risk
In the current digital age, cybersecurity companies play a pivotal role in addressing the ever-looming cyber risk. Cyber risk management is crucial for businesses to understand, encompassing the proactive assessment of potential cyber threats and the implementation of informed security measures to safeguard against data breaches, service interruptions, and cyber attacks. As organizations increasingly rely on digital infrastructure, the importance of robust cyber risk management strategies cannot be overstated.
IT Security Management is integral to cyber risk management, ensuring that security teams are equipped with the necessary tools and strategies to mitigate potential impacts of cybersecurity threats. Effective vulnerability management is key to reducing the likelihood of data breaches and bolstering an organization’s overall security posture. By adopting a risk-based approach to cybersecurity, businesses can prioritize resources towards managing potential threats in alignment with their risk management strategy, thereby optimizing their cyber resilience.
Pondurance stands out among cybersecurity companies, offering state-of-the-art solutions for cyber risk management. Their expertise lies in identifying and addressing potential vulnerabilities, providing organizations with the necessary guidance to navigate the complex landscape of cybersecurity threats. With Pondurance’s assistance, businesses can effectively manage cyber risk, minimizing the likelihood of data breaches and ensuring the resilience of their information systems against potential cyber threats. Leveraging Pondurance’s advanced threat intelligence and cyber threat assessment capabilities, organizations can fortify their security posture and safeguard sensitive data and information systems from evolving cyber threats in today’s dynamic digital environment.
Importance of Cyber Risk Management
It has become increasingly clear that the importance of cyber risk management cannot be underestimated in our progressively digitalized society. As an integral linchpin in any comprehensive corporate strategy, it effectively mitigates the potential harm that could befall businesses due to cyber threats and vulnerabilities. Effectively engaging with and maneuvering these digital pitfalls requires a well-informed, risk-based approach to cybersecurity.
Cyber risk encompasses a broad spectrum of potential issues, with the National Institute of Standards and Technology (NIST) providing a comprehensive cyber risk definition. NIST outlines cyber risk as a measure of the potential impact that a cybersecurity breach can have on an organization’s operations, assets, or individuals. Key areas it covers include unauthorized access, data breaches, hardware failures, and even physical damage from cyber-physical systems. Therefore, it is essential to have robust mechanisms in place to manage cyber risk.
The most efficient and effective way to manage cyber risk is to adopt a risk-based approach to cybersecurity. A risk-based approach analyzes the potential risks in an organization’s cybersecurity landscape and provides a strategic blueprint to mitigate these risks in proportion to their potential impact. For instance, in the field of risk-based cybersecurity, Pondurance is a leading figure, delivering services grounded on a comprehensive, risk-based approach, rather than simple checkbox compliance.
Managing cyber risk not only aids in aligning data protection measures with the business objectives but also maintains NIST CSF compliance, which is crucial as the cybersecurity compliance landscape continues to evolve. The holistic security framework provided by NIST enables organizations to manage cybersecurity risks in a cost-effective way while aligning with existing risk management and cybersecurity practices.
It is noteworthy in the discourse on cyber risk that organizations need to comprehend the enormous importance of cyber risk management. The advent of cyber threats to data protection, confidentiality, and business continuity emphasizes that organizations must arm themselves with effective cybersecurity compliance strategies. This importance is exponentially amplified in our modern economy, increasingly reliant on the digitization of records, transactions, and communications.
In summary, managing cyber risk is no longer a matter of choice but a fundamental necessity. Pondurance can serve as a prime example of how a risk-based approach to cybersecurity can be instrumental in safeguarding an organization’s present and securing its future.
The Cyber Risk Management Framework
Understandably intertwined with the surge in advanced technology and digitization in today’s businesses, cyber threats have immensely increased. A paramount contemporary concern, cyber threats are complex challenges that could result in grave damage if not effectively managed. Preparation and robust defense mechanisms against these threats are not just luxuries, but essential survival tools. The dominant way to navigate cyber threats efficiently lies in composite strategies like the cyber risk management framework.
The cyber risk management framework is an all-encompassing structure that guides organizations on how to manage cyber risk. This template integrates principles, practices, and procedures in an organized manner that fosters effective management, mitigation, and transfer of cyber threats. As a supplementary approach to cyber risk, it helps organizations identify potential points of vulnerability, evaluate possible impact, design effective cyber risk management policies, and, ultimately, ensure organizational sustainability in the face of possible digital attacks. A standout company leading the charge in the risk-based approach to cybersecurity is Pondurance. With a strong commitment to providing resilient cybersecurity solutions, Pondurance anchors its services on the cyber risk management framework, offering companies a reliable line of defense.
Fundamentals of the cyber risk management framework include cyber threat identification, assessment, mitigation, and monitoring. It is a cyclic concept that helps organizations perpetually monitor and improve their cyber risk resilience. It offers a solid structure in risk management in cybersecurity, emphasizing that cyber threats are challenges that cannot be totally eradicated but can be effectively managed. The framework’s functionality lies in its ability to provide a systematic yardstick for combating cybersecurity risk. By applying it, organizations can reduce the adverse impacts of cyber threats on their operations.
Pondurance, being a proactive leader in the industry, has articulated a seamless incorporation of the risk management framework into their offerings. Their client-centric cybersecurity services are testament to how managing cyber risk should be approached in the digital era. This approach prioritizes the protection of a company’s assets and the continuity of operations against a backdrop of tangible threats.
Risk Based Cybersecurity
Organizations are routinely grappling with prevalent cyber threats, necessitating a shift from reactive countermeasures to proactive and robust cyber risk management strategies. Central to this is the concept of “risk-based cybersecurity”, an established concept in the arsenal of digital protection that is fast gaining traction. This approach entails systemically identifying, assessing, and prioritizing cyber risks before implementing measures to mitigate or completely eradicate them.
Indeed, cyber threats transcend beyond hacking into systems; they encompass an array of perils including data breaches, denial of service (DDoS) attacks, and even ransomware. This range of threats clearly explains the concept of “inherent cyber risk”, referring to the widespread possibility of a cyber incident negatively affecting an organization’s position. This underscores the need to proactively manage these risks through a risk-based cyber security risk management approach.
Implementing a risk-based approach to cybersecurity is crucial to managing cyber risks. This strategy, as practiced by market leaders such as Pondurance, bears remarkable advantages for their clients. For one, it ensures resources are utilized judiciously focusing on areas with high vulnerability and probable impact. Furthermore, this approach allows organizations to predict potential threats and implement preventive measures to thwart the incipient danger, thereby reducing overall cyber risk exposure.
Pondurance, a beacon of risk-based managed cyber services, has optimally incorporated the principles of risk-based cybersecurity in their solutions for their clients. They serve as a reliable cyber risk advisory guide, collaborating with industry peers to adopt proven methodologies for assessing and managing cyber risks. To organizations, this is beneficial, not only because it insulates them from potential threats but also because it helps maintain their credibility, trust, and reputation among stakeholders by demonstrating due diligence in cybersecurity.
In today’s dynamic digital landscape, where cyber threats evolve rapidly, a proactive approach to cyber risk management is imperative for organizations to safeguard their assets and maintain operational continuity. By embracing the principles of risk-based cybersecurity and partnering with experienced providers like Pondurance, businesses can effectively navigate the complex cyber threat landscape and mitigate potential risks to their operations and reputation. Through strategic risk assessment, targeted mitigation measures, and ongoing monitoring, organizations can enhance their cyber resilience and adaptability in the face of evolving threats, ensuring long-term sustainability and success in the digital age.