Do you how much is lost in cybercrime annually?
It is estimated that at least $600, 000, 000, 000 is drained out of the global economy annually only through Cybercrime. And do you how much it costs an attacker to conduct a cyber heist.? In this article, we will be looking at what cybersecurity for an organisation means and what actions they take to protect themselves from cyber-attacks.
CyberSecurity in Organisations
Computer security or cybersecurity is protecting oneself or an organisation from malicious attacks for monetary or other indirect gains. With a lot of knowledge and resources available at hand on demand (on the Internet), it’s become quite common that even a le man who has a basic idea of how to google can cause a ruckus. An individual or organisation needs to be secure digitally as they are physically. Organisations tend to maintain their security teams or hire a trusted third party that is capable of.
Cybersecurity teams have become an integral part of most organisations. When we consider cybersecurity teams, in general, they focus towards the centralised issues that are on the organisations’ priority list, like data, applications, cloud, network services, etc. Companies usually have an infrastructure team, a threat management team and Identity and access management (IAM) team. Not all the organisations need to have the same structure or the same names, this is just an overview of how they work. The infrastructure is a very important asset of an organisation and so it must be protected. The infrastructure security team are responsible for managing the audits, risks, disaster recovery programs and compliance of the infrastructure with market standards. Most common security standards are ISO 27001 and PCI-DSS.
The threat team is responsible for testing an application for vulnerabilities and report them for avoiding any exploits. The SOC team, which most of the times come under threat management team, is responsible for blocking and monitoring real-time attacks. You might have seen this many times in movie or some other places, the place where there will be a lot of huge screens are put displaying things (Yes, they do exist and many large organisations do this to keep an eye over their network. While all these teams seem familiar the IAM team is not known by many, this team is responsible for identifying a user and manage access to the resources as required. Interestingly the market for IAM tools is gaining as IAM is at the endpoint of security, i.e., the users(employees in the organisation). Tools like cyberark, Sailpoint, okta, BeyondTrust and oracle identity management are the top tools used by most organisations to tighten their security while not causing and dent in their workflow.
Current State of Security:
So from the structure of the security teams, we can see that organisations have started considering every aspect of the environment to protect themselves from cyber-attacks. Attacking on an organisation (small to large) can cost somewhere around $112, 000 to anywhere up to $3.8 million and over, depending on the type of attack and what their intentions are.
Statistics say that margin between the cost of attack and the gain from attacks have started to reduce (Obviously leaving aside the social aspects of an attacker) as more and more organisations have invested in cybersecurity as the value of the information they hold is also risen dramatically.