Intelice is proud to have hosted our first in a series of informative webinars earlier this month, with our very own Brian Loughlin presenting on the best ways to safeguard a business against modern cyber threats. Taking place on Thursday, October 6th, attendees learned a lot about modern cybercrime methods, effective security measures, and more.
- 91% of organizations have suffered a cyber attack at least once in the last 12 months
- On average, cybercrime will cost a US-based company $12.6 million in damages
- 13% of the annual cybercrime cost for companies is due to phishing and social engineering
- 28% of phishing attacks in 2014 were intended to steal financial data from users
- 71% of security breaches target small businesses, and of those, 60% go out of business within six months after the incident
After considering the motivation for cybercrime — theft of information and finances, as well as intentional damage to a business’ data integrity and reputation — the webinar took a look at “phishing”, a method in which they send fraudulent emails purporting to be from reputable company members in order to induce individuals to reveal sensitive information, and execute significant financial transfers. Brian demonstrated how prevalent the threat of phishing is, citing key statistics:
- 100 million phishing messages are sent every day
- Phishing costs brands $70.2 billion, and costs corporate IT $28.1 billion each year
The focus then turned to ransomware, a method that encrypts a victim’s files (making them unreadable), and only offering the key to recover the files after a bitcoin ransom has been paid. Brian noted that a vast majority of ransomware incidents occur in the US, and that ransomware authors stand to make nearly four times as much as a doctor or senior attorney per hour for their cybercriminal efforts.
The next portion of the webinar examined BOTNET attacks, which work by spreading an application to other computers and servers, which will accomplish a certain task such as spreading spam or malware, or executing a denial of service in order to knock a website offline. After explaining the inner workings of a BOTNET attack, Brian showed how a single attacker can, by using other computers and bots, greatly obscure their own location, making it that much harder to determine the source of the incident.
Then, with the major methods of cybercrime having been covered, the webinar moved on to talk about how to reduce their impact on a given business. Best practices included:
- User training & awareness
- Secure configuration and policies for IT security measures (such as password management, access controls, patches and more)
- Technology (malware detection, perimeter defenses, email encryption, web filtering and more)
- Backups that are timely, offsite and thoroughly tested to ensure a short restoration window
Finally, the last portion of the webinar looked at the mobile nature of the modern workforce, considering the benefits and the potential risks of mobile technology and remote access. While a robust Bring Your Own Device (BYOD) policy can cut hardware costs and increase employee productivity, it will also increase the potential for data theft and loss, given that business data is being accessed through more devices, and offsite from the place of business. Furthermore, remote access can do wonders for those that need to work from home and abroad, but it’s important to employ a multi-factor authentication measure in order to ensure the security of your business’ data.
The webinar concluded with a Q&A for attendees. Click here to watch the webinar for yourself (see above) and get the complete picture of modern cybercrime and how best to prevent it from affecting your business.
To learn more about keeping your business safe in the modern digital world, and to sign up for our next webinar, be sure to get in touch with Intelice Solutions at (301) 664-6800 or firstname.lastname@example.org right away.