Cyber Risk Mitigation Best Practices

Cyber crimes are catching a lot of headlines recently. As more of society moves onto cloud-based applications, it creates more potential vulnerabilities. Organizations need to take measures to defend themselves against these dangers. Here are some cyber risk mitigation best practices.

Maximize Visibility and Control

To mitigate cyber risks, you want to have maximum visibility and control over your networks. Think about it—how are you going to keep your networks secure if you can’t know who’s connecting to them and doing what.

Opting for various as-a-service technologies can give your enterprise comprehensive network protection. Cloud access security brokers (CASBs) and security operations centers (SOCs) are two solutions that can now be accessed via as-a-service options.

Network Detection and Response

Time is of the essence when you’re dealing with cyber threats. The longer a malicious actor is allowed to infiltrate your network and digital assets, the greater the likelihood they’ll be able to steal critical data. You can stop many of these threats my deploying a strong network detection and response (NDR) system.

NDR does what the name implies: finds threats and then responds to them. An automated NDR application can isolate threats before they’re even noticed by humans. This is a no-brainer for enterprises building out a cyber risk management protocol.

Turn to the Experts

Even if you have a great internal IT department, it’s unlikely they’re going to have the level of expertise that’s present at a cyber security firm. When you consider the shear number of high-profile cyber attacks happening all the time, there’s no excuse for foregoing top-tier service. The thing is, if the world’s most well-funded agencies are falling victim to attacks with alarming frequency, organizations with less capital are even more at-risk.

About 60 percent of small businesses are forced to close within six months of experiencing a cyber attack. No matter if you’re on a small, medium, or enterprise scale, cyber risk management is essential to survival in today’s world. Adopting security tools and services with great experts on your side can save your business from catastrophe. They can also help triage events as they unfold, while only notifying you when it’s actually essential.

Utilize Advanced Technologies

Organizations looking to protect themselves from cyber risk should look at some of the new advanced technologies reshaping the landscape. Machine learning and artificial intelligence are changing how cyber risk management tools protect precious network assets. One such capability is the ability to spot abnormalities or hidden correlations that would be invisible to humans. Having these tools protecting you can keep malicious actors at bay.

Use Governance and Privilege Controls

Part of keeping data secure is making sure systems are set up properly and have a logical set of rules. This determines what users are allowed to access certain content on the web and through applications. By creating sufficient governance and privilege controls, it’s possible to mitigate some of the risks associated with personal devices on enterprises networks, as well as employees accidentally accessing infected sites or documents.

Have Backups

Even the best-protected networks can still fall victim to attacks or outages. This is why you always want to be backing up data. Ransomware attacks thrive on the premise that organizations haven’t properly backed up their critical data. If you’ve done this, it alleviates a lot of issues related to cyber risks.

Keep Everything Updated

Even though it’s one of the most obvious things to do for managing cyber risk, it’s impossible to overemphasize the importance of keeping things updated. Patches are constantly being released for software and other network applications. Staying current with updates can keep your systems protected by closing exploitable attack vectors. Many malicious actors operate specifically on weaknesses created through patches and outdated programs. Don’t fall victim to this avoidable pratfall.

Cyber risk is an undeniable reality in today’s world. Organizations need to take proactive steps to defend themselves against these ever-changing threats.