The cost of a compromised network

Oct 26, 2017 | Whitepaper

Why is network security important?

We all know network security is important, but why? What are you protecting? And, perhaps more pertinent, who do you think is infiltrating your network?

You’re not crazy to be a little paranoid about security. Even in 2018, cybercrime is on the rise. Each year, statistics reporting the likelihood of a security breach rise. Without adequate protection, you could be risking your sensitive business information and the information of your customers. For many, the cost of a data breach is too high, and a compromised network could spell the end of a once thriving business. What does the prudent business owner do to prevent such a network infiltration?

How hackers hack

While many of us picture hackers as hooded miscreants, hiding in the shadowy recesses of a dark room, the truth is, hackers can be anyone, anywhere, at anytime. There is no stereotype for a hacker, and as such, your network might be more vulnerable than you know. If you’re utilizing public Wi-Fi, you’re at risk. Maybe your employees aren’t updating their security features…  that means you’re at risk. If anyone at your company isn’t educated on modern phishing, social engineering, and malware tactics used by cybercriminals, you’re at risk.  

Without the proper tools, your business can’t stop a cyberattack. Small Business Trends finds that 43% of cyberattacks target small businesses (Note: the U.S. government considers having less than 500 employees a small business). These attacks are always changing and evolving to bypass security measures and programs.

How to spot your weaknesses

The best offense is a good defense. We’ve all heard the adage. Perhaps one of the most efficient ways to ensure your success is to prevent your demise. While this may seem easier said than done, there are a few ways for you to spot your own weaknesses before a criminal does.

  1. Hack your own network — Using penetration tests, you can act as a white hat hacker and find where your network is at risk of exploitation. Pen tests are useful in a variety of ways, including:
    • Predicting the likelihood of particular attacks
    • Discovering high-risk network security gaps
    • Identifying weaknesses missed by automated security scans
    • Assessing the potential damage from various types of attacks
    • Providing evidentiary support for the need of increased security measures
    • Ensuring you meet PCI compliance standards
  2. Perform routine security audits — Establish a security baseline by which to audit your network. Outsourcing your security audit to an expert who can use your company’s security policies to determine the safety of your network can be tremendously useful.

The costly consequences of a security breach

At the end of the day, you want to evaluate what is at risk if you aren’t proactive about your network security. It isn’t enough to respond to an attack; with 60% of attacked companies closing their doors, your business could be collateral damage.

The rate of cyberattacks is rising, along with the cost to address them. According to CSO, cybersecurity spending will increase by $1 trillion in the next five years. It’s no longer realistic for businesses to leave their cyber protection up to chance. Working with Axxys to create and enact a plan will guarantee your data and company are safe from threats.

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