360 Smart Networks Hosts Special Event Focused On Cybersecurity
On September 26th, 2019, 360 Smart Networks hosted a lunch and learn on the topic of cybersecurity. Marius Nel, Partner and CEO of 360 Smart Networks, spoke on the importance of “firing up your cybersecurity” to stay safe against a range of threats. With over 25 years of extensive technical and business managerial experience, he was able to speak in-depth about the evolution of cybercrime and the current threat landscape. If you weren’t able to make it, here’s a rundown of what you missed.
What do business executives need to worry about?
The term “cybercrime” encompasses a wide range of threats. At the end of the day, cybercrime refers to any act of illegal activity wherein a hacker is trying to gain access to your systems and/or your data. This may include:
- Business email compromise
- CEO fraud
- AP/AR fraud
- Intellectual property theft
- Operational disruption
- Theft of useful information, including personal and/or medical data
Marius summed it up quite well in one sentence: “if it has value to you, it has value to someone else.” But why does YOUR information hold value to someone else? The answer is simple… Cybercriminals can either use or sell your information for the purpose of committing identity theft, financial fraud, and other crimes. Just look at the prices commonly seen on the dark web:
- Medical records: $50 each
- Credit card details: $0.25 – $60 each
- DDoD (denial-of-service attack) – $7 per hour
- Social security numbers: $1 each
How did cybercrime evolve to become such a scary digital epidemic?
Believe it or not, cybercrime has been around for quite a while. The first attacks were attempts to steal information from local networks, but as the Internet evolved, so did cybercrime. In fact, the first major wave of cybercrime came with the invention of email during the 80s. By the time we hit 2013, cybercrime evolved to create a high level of disruption and damage. In 2020 and beyond, we expect to see an even higher level of disruption and damage as techniques become more sophisticated and coordinated.
Unfortunately, despite the fact that cybercrime has become a scary digital epidemic, many businesses still don’t understand the risks. There is a common belief that simply purchasing a firewall and antivirus software from a well-known vendor is enough to solve the problem. But that couldn’t be further from the truth. Cybersecurity needs to be viewed as a part of your overall business strategy rather than a tactical issue to resolve.
What are the key components of a multi-layered cybersecurity approach?
If a vendor tells you their simple solution will protect you from every type of threat, you must keep in mind that the threat landscape is constantly evolving. No single solution can keep you safe. You need a multi-layered approach that incorporates:
- Endpoint security
- Email scanning
- URL scanning/whitelist systems
- Regular patches/updates on workstations
- Honey pot systems
- Cybersecurity training
- Cloud security
- Change management
- Ongoing management/maintenance of all systems
Let’s make cybersecurity an integral part of your business strategy. Get in touch with 360 Smart Networks to learn more about our services.