Cybercrime may have started in a small way with email accounts being hacked for sheer thrill and excitement. But today it is more destructive than we can imagine. Cybercriminals are now part of a $100 billion underground market, and they use highly sophisticated malware technology and Trojans for financial gain as well as malicious political motives. Incidents of online fraud have skyrocketed and statistics reveal a very alarming trend. According to CNET, 63% of mid-sized companies in the US have seen an increase in security breaches in the year 2008.
While security breaches have become increasingly common, the aftermath of a security breach is so adverse that it is capable of putting companies out of business. Often, a security breach results in crippled IT infrastructure, network downtime and lost/stolen confidential records/ trade secrets. Also, the amount of time and money spent in the recovery process can cost a great deal to the business. Here’s a more detailed look at how companies fall prey to security attacks:
Exposure to Web Threats: The case of Hillary Machinery, Inc., where a compromised PC was used to steal confidential records including usernames and passwords to access corporate accounts, clearly demonstrated how cybercriminals used advanced technology to defeat security measures and penetrate systems by spoofing IP addresses. This resulted in a loss of $800,000 in 2 days. Cybercriminals are also now turning to social media to deliver malware to desktops with the intention of stealing data/ money. With an increasing number of companies relying on social media sites for communicating with prospects, customers and partners, they are at very high risk of being attacked.
Unprotected Systems: While it is practically not possible to block all potential attacks, making use of the right threat detection and response measures can be helpful in controlling security lapses to a large extent. However, several organizations fail to understand the need to protect their systems. And with continued proliferation of cybercrime, these unprotected businesses are at very high risk.
Unsecured Gateways & End-Points: Malware can enter your system through unsecured gateways and cause huge damages to network infrastructure and company assets. And the exponential growth of malware threat makes it essential to protect all gateways and endpoints. Gateway security is essential to keep a company safe from malicious attacks. And for this gateway anti-malware is a prerequisite. However, if the malware gets past this gateway, it should be detected and eliminated. And this is why securing endpoints becomes crucial.
Cyber security threats and breaches will continue to grow as long as cybercriminals find a way to get access to your network. Hence, what you need is an intrusion detection and threat management tool, which can provide complete protection by preventing malware attacks and averting security breaches.