Tag Archives: data breach

03.19.21
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Supply Chain Security Tips: Hear from South Florida’s Top Cybersecurity Consultants

Did you know a supply chain cyber attack could cost you millions?

 

Even if your supply chain operates through a third party vendor, you will be responsible for compromised data. As a result, you could face hefty fines and messy lawsuits if you don’t maintain supply chain compliance.

 

The Importance of Supply Chain Compliance

 

That’s why it’s so important for your business’ cybersecurity posture to prioritize detection, evaluation and mitigation of supply chain risks.

 

If you want to avoid a costly cybersecurity mishap, we advise that you practice ongoing supply chain risk management.

 

Below you’ll find top tips for supply chain cybersecurity from Third Power IT, providing the best cybersecurity services in Miami.

 

Supply Chain Risk Management Best Practices

 

Prevention is key when you are managing data, systems, software and networks.

 

By proactively adopting risk management practices, you will help enhance your supply chain’s security. Keep reading to learn some of these practices right now.

 

  • Security Awareness Training: Educate employees on cybersecurity so they know the mistakes to avoid. Draft an effective security awareness training program, and implement it regularly to ensure all stakeholders are on the same page.

 

  • Data Classification: Identify data, segment it according to its worth and assign security to each type of data. This will help you know your data thoroughly, which makes it easier for you to secure it.

 

  • Access Control: Grant data access to select users. With robust authentication and authorization protocols in place, you can minimize the chances of sensitive data getting compromised.
  • Authentication verifies whether the user is who they claim to be
  • Authorization verifies whether a user has access to a particular type of data

 

  • Monitoring: Monitor data consistently so you can detect threats quickly and respond to attacks right away. Evaluate relevant data to recognize suspicious activity. Pre-define acceptable behavior on the monitoring system. If breached, the system will trigger an alert.

 

  • Endpoint Protection: Secure endpoints to protect the most vulnerable part of your supply chain. Cybercriminals are skilled at identifying weaknesses within your network. In most cases, it turns out to be an end-user device on your network or even devices on a third-party partner’s network.

 

  • Patch Management: Patch security gaps so your business isn’t exposed to cyber attacks. Whenever a new patch becomes available, update software immediately.

 

  • Routine Scanning: Enable a coordinated process to test, recognize, examine and reveal potential security threats. Automate these scans so they are conducted regularly without investing a lot of time and effort.

 

  • Network Segmentation: Segment your business’ network into smaller units so you can control movement of data from one segment to another. Automate this process to restrict suspicious entities from gaining access to vital information or data.

 

  • Managed Detection and Response: Deal with cyber threats strategically with MDR, an economically feasible service that helps you with in-depth threat detection and response. Threat hunting helps you with research and analysis of vulnerabilities.

 

Adopt Supply Chain Cybersecurity Best Practices Now

 

When it comes to supply chain security, the best practices mentioned above are just the start of how to prevent security incidents. Enlisting the help of an MSP can help you stay ahead of the curve.

 

The experts at Third Power IT have the experience necessary to build walls cybercriminals can’t break. Visit www.ThirdPowerIT.com to hear more about safeguarding your supply chain from looming cyberthreats now.

 

 

 

The post Supply Chain Security Tips: Hear from South Florida’s Top Cybersecurity Consultants appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

03.12.21
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Supply Chain Compliance: Prevent A Supply Chain Cyber Attack from Happening To You

Did you hear about the recent supply chain cyber attack on multiple major airlines?

 

When an IT vendor’s passenger service system (PSS) was hacked, cyber criminals gained access to the frequent flyer data of customers all over the United States.

Now 90% of the world’s airlines are facing potential penalties for compromised customer data.

Even though the data breach was caused by a third party vendor, the airlines are still liable for this major cybersecurity mishap.

Don’t let something like this happen to you!

 

Prevent A Supply Chain Data Breach

Are you familiar with the regulations and standards governing your supply chain management obligations?

Whether your supply chain is a big or small operation, you must ensure that it isn’t the reason your business is non-compliant with the necessary regulations and standards.

Staying on top of your supply chain cybersecurity involves a great deal of continued effort, but it’s worth it.

If your business has compliance risks thriving within your supply chain, you could find yourself facing:

 

  • Financial losses
  • Loss of reputation
  • Expensive lawsuits

 

And the list goes on.

No regulator will cut you any slack for “not being aware” of prevailing or imminent risks. You will just be considered negligent.

Fulfilling your supply chain management obligations begins with being aware of the regulations and standards that govern it.

Over the next few minutes, you will understand:

  • What supply chain compliance is
  • The various forms it can take
  • How you can start protecting your supply chain now

First let’s talk about what supply chain compliance is and the many forms it can take.

 

Understanding Supply Chain Compliance

 

What is Supply Chain Compliance?

Fundamentally, supply chain compliance refers to an organization’s adherence to the established guidelines and requirements to manage supply chain risks. In addition, it pertains to your ability to meet or exceed the expectations of stakeholders.

Supply chain compliance guidelines and requirements come in many forms.

 

Forms of Supply Chain Compliance Guidelines and Requirements:

  • National, state/provincial and local or border/international regulatory requirements
  • Industry standards (e.g. ASTM & HIPAA)
  • Contractual obligations or requirements
  • Customer and non-governmental organization (NGO) expectations

Achieving, demonstrating and maintaining compliance with these multiple standards requires comprehensive collaboration with your third-party partners.

Are you ready to get started?

 

Protect Your Supply Chain With Third Power IT

Supply chain protection is a 24/7 operation. Make sure you’re fully compliant by teaming up with a trusted IT consultant that understands the ins and outs of supply chain compliance.

When you work with Third Power IT, you will get a custom cybersecurity package that fits your needs. We have experience working closely with:

  • Healthcare facilities regarding HIPAA compliance
  • Banks and investment firms regarding financial compliance
  • Schools and colleges regarding FERPA compliance

And much more

Ensure your compliance today. Visit www.ThirdPowerIT.com to get started now.

The post Supply Chain Compliance: Prevent A Supply Chain Cyber Attack from Happening To You appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

02.25.21
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Know the Risks: Insider Threats To Customer Data & Personally Identifiable Information (PII)

Is your customer data up for grabs?

 

Customer data, also known as Personally Identifiable Information (PII), is one of the most popular targets for a cyber attack. Once a hacker gains access to this information, they can steal your company’s proprietary information and your customers’ identities at the same time.

 

The repercussions of such an attack can be catastrophic for your business, especially if you’re a healthcare facility or a financial institution.

 

From legal fees and lawsuits to temporary shutdowns or permanent closures, compromised PII is never fun.

 

So, are you at risk of a PII data breach?

 

First let’s briefly discuss what PII is and how it pertains to your business.

 

What is PII?

 

PII refers to data points that can be used to identify an individual. This customer data comes in many forms, and you might be in trouble if it gets into the wrong hands.

 

  • Social security numbers
  • Mother’s maiden name
  • Tax identification numbers
  • Date of birth
  • Biometric data
  • Race & religion
  • Location data

 

What Causes a PII Data Breach?

 

According to Risk Based Security, 60 percent of customer data breaches are caused by insider threats or security threats that originate from within an organization.

 

This means that your employees and stakeholders are the primary cause of a PII data breach.

 

To make things worse, reports indicate that the number of insider incidents has increased by 47 percent over the last two years.

 

While most insider threats are unintentional, they still pose just as much risk.

 

Now that you know the main cause of a customer data breach, let’s deep dive into the potential risks that insider threats pose to PII and how you can protect your organization against such threats.

 

The Risks of Stolen PII

 

Whether you’re a healthcare facility, a financial institution, or even an e-commerce business, compromised customer data can seriously harm your operations.

 

Below we’ll break down the major risks of stolen PII.

 

  1. Reputational Damage

 

According to a study by Ponemon, 44 percent of companies believe it takes anywhere from 10 months to over two years to restore a company’s reputation after a breach. Even if you respond promptly and properly to your customers regarding a data breach, it could still result in a PR disaster and a decline in your customer base.

 

  1. Financial Loss

 

The average cost of a data breach in the U.S. is $8.19 million. Some of the consequential costs that companies find themselves paying include compensation to affected customers, fines and penalties for non-compliance with regulations such as GDPR, expenses for forensic investigations and more. On top of that, the valuation of your company could tumble as well.

 

  1. Ransomware Costs

 

A malicious insider  who gains access to your data systems can steal sensitive customer PII from your network. Once your systems are hacked, the cybercriminal can block access to your data and threaten to sell the information on the Dark Web if you don’t pay the ransom.

 

  1. Operational Standstill

 

Data breaches have the potential to paralyze your business operations. You will have to conduct a detailed investigation to determine what data has been compromised and the cause behind the breach. You will have to take steps to recover lost data, and you may face expensive lawsuits and settlements. In most cases, this will pause your business operations.

 

Now that you know the risks, isn’t it time to protect your customer data so you can avoid a data breach?

 

Protect Your PII Today with Third Power IT

Miami’s Leading Cybersecurity Consultants

 

A cyber attack can happen at any time. That’s why 24/7 data protection is so important. With cyber threats on the rise, now is the time to invest your cybersecurity.

 

But you don’t have to go about it alone. Secure your data and gain peace of mind when you work with Third Power IT, South Florida’s preferred IT consultants.

 

Set up your cybersecurity strategy today. Visit www.ThirdPowerIT.com to get started now.

 

The post Know the Risks: Insider Threats To Customer Data & Personally Identifiable Information (PII) appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

02.19.21
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The Cost Of A Cybersecurity Breach For Your Florida Based Business Could Be Massive

The digital age comes with so many great advances in technology to make our lives and businesses run more smoothly. Unfortunately, nothing is truly safe. No matter how protected you think your business’ systems and networks are, they can fall prey to hackers and this is where you need to ask yourself, “Do I have the proper cybersecurity standards in place.”

Data breaches and cybersecurity incidents have become common place and they’re becoming increasingly costly. These breaches can expose personal information. No matter the size of your company, it will be costly for you to do through a data breach. In fact, the average cost of a data breach in 2020 is $3.86 million, according to a report from IBM and the Ponemon Institute.

To break it down further, the average data breach costs a company $154 per record. With a database of just 10,000 clients, you have a potential breach of $1,540,000.00 in a single hack. Is your company ready and prepared for such a breach?

When a data breach occurs, your company will deal with varied direct and indirect costs related to time and effort dealing with the breach, lost opportunities, bad publicity, customer churn, and regulatory fines.

Fortunately, costs can be smaller for those companies who are prepared. An analyst at IBM stated that companies who engage in effective cybersecurity practices are seeing significantly reduced costs and those companies who aren’t preparing are facing higher costs.

In fact implementing cybersecurity best practices and remaining compliant with industry standards will not only protect your business but also lower your premiums with many carriers.  You heard correctly!! It can help lower your business insurance premium – another cost saving opportunity.  Of course, the actual cost savings will vary depending on your industry, company size, annual revenue, and the insurance carrier, among other things.

Having the right team behind your cybersecurity is essential in achieving everything that we have talked about here.  If you are not sure where to start, look no further than our Miami Cybersecurity IT Experts here at ThirdPowerIT.  Let us give you a thorough assessment today.

Get Started Now: Contact Us Online

The post The Cost Of A Cybersecurity Breach For Your Florida Based Business Could Be Massive appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

02.15.21
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Discover The Top Two Insider Threats To Your Business

You might already know about the external risks that threaten the cybersecurity of your business, but are you aware of the insider threats that also exist?

 

In case you didn’t know, data protection regulations require your business to assess all possible threats to the sensitive data your business stores or manages.

 

While most businesses tend to focus their attention on outsider threats, they often overlook internal threats that exist right within their walls.

 

According to Verizon’s 2020 Data Breach Investigations Report, 30 percent of data breaches involved internal threats.

 

Unfortunately, all it takes is one disorderly or negligent employee to cause damage to your business.

 

So, how can you prevent this from happening to you?

 

In this blog, we will help you understand the different types of insider threats and how you can create a defense strategy to minimize these threats.

 

First let’s talk about what insider threats are and how they affect the cybersecurity of your business.

 

What Are Insider Threats?

 

Insider threats refer to security risks that originate from within an organization. Essentially, an insider threat involves someone who is a part of your business network or has access to it.

 

An Insider Threat Can Come From:

  • Current employees
  • Former employees
  • Consultants
  • Business partners
  • Board members

 

Insiders with access to your business’s sensitive data can compromise the integrity of the data for any reason, whether it is intentional or not.

 

Now let’s take a look at two types of insider threats you should be aware of.

 

The Main Types of Insider Threats

 

There are two main types of insider threats, and both can do damage to your business if you allow it. Keep reading to find out what they are right now.

 

Insider Threat #1: The Malicious Insider

 

A malicious insider is anyone with legitimate access to your business’ network and sensitive data who decides to exploit the privilege either for financial gain or out of spite.

 

Out of the 4,716 insider incidents that were studied by the Ponemon Institute and IBM in the Cost of Insider Threats: Global Report 2020, 23 percent were related to criminal insiders.

 

The worst part? The report said the annual cost to companies due to criminal insiders is $4.08 million.

 

Insider Threat #2: The Negligent Insider

 

A negligent insider is a regular employee who falls prey to a cyberattack. A hacker then exploits their mistake to compromise your business’ sensitive data.

 

While these employees didn’t intentionally put your cybersecurity at risk, they are considered negligent because they either ignored security policies or weren’t vigilant enough to identify and protect themselves from cyberattacks.

 

As the more common type of insider threat, the report mentioned above found that 63 percent of insider security incidents in 2020 were caused by the negligent insider.

 

The annual cost to companies? A whopping $4.58 million.

 

Is your business at risk of either of these common insider threats?

 

Insider Threats And Your Business: Are You At Risk?

 

Imagine your business suffers a data breach due to one of these insider threats and then gets flagged by a regulator for not taking appropriate measures to avoid such a breach.

 

Not only is your sensitive data compromised, but you’re also facing hefty fines. This could pause your business operations for months, or worse, put you out of business for good.

 

Do you want to ensure this doesn’t happen to you?

 

Partner With Miami IT Experts To Keep Insider Threats Under Check

 

It’s time to make your data protection a priority, especially since cyberthreats have recorded an unprecedented surge during the ‘new normal.’

 

Don’t let an internal data breach harm your business.

 

Allow the cybersecurity experts at Third Power IT to help you monitor all cyber threats – both internal and external – so that you can keep running your business as usual.

 

Visit www.ThirdPowerIT.com to get started now.

 

The post Discover The Top Two Insider Threats To Your Business appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

02.11.21
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Top Warning Signs & How to Prevent an Internal Data Breach

Is your business one misstep away from a cyber-attack due to an insider threat?

 

If you’ve been following our blog, then you already know what insider threats are and how they affect your business.

 

As a reminder, insider threats are security risks that originate from within an organization. Essentially, an insider threat involves someone who is a part of your business network or has access to it.

 

An insider threat can present itself in two different ways:

  1. A malicious insider — someone who intentionally steals or compromises your data
  2. A negligent insider — someone who unknowingly puts your network at risk

 

So, how can you identify insider threats before they become a bigger problem?

 

Although accurately identifying insider threats can be tricky, there are some early warning signs you can watch out for to prevent a cyber-attack.

 

Keep a keen eye out for these signs so you can recognize unusual patterns early on.

 

First let’s look at the main types of warning signs and what you should look out for.

 

There are two main types of warning signs:

  1. Behavioral
  2. Digital

 

First, we’ll look at behavioral warning signs of an insider threat.

 

Behavioral Warning Signs of An Insider Threat

 

An employee or a stakeholder could be a potential insider threat if he/she exhibits any of the following behavioral patterns.

 

  • Attempting to bypass security controls and safeguards
  • Frequently and unnecessarily spending time in the office during off-hours
  • Displaying disgruntled behavior against co-workers and the company
  • Violating corporate policies deliberately
  • Discussing new opportunities and/or the possibility of resigning

 

Now let’s take a closer look at the digital warning signs of an insider threat.

 

Digital Warning Signs of An Insider Threat

 

Some of the digital actions mentioned below are telltale signs of an insider threat.

 

  • Accessing or downloading substantial amounts of data
  • Attempting to access data and/or resources unrelated to his/her job function
  • Using unauthorized devices to access, manage or store data
  • Browsing for sensitive data unnecessarily
  • Copying data from sensitive folders
  • Sharing sensitive data outside the business
  • Behaving differently from their usual behavior profile

 

If you notice any behavioral or digital warning signs, don’t ignore them. You might be at risk of an internal data breach.

 

How to Prevent an Internal Data Breach

 

While some cyber attacks are inevitable, the government expects you to do everything in your power to prevent them. If not, you will face regulatory action.

 

In the event of a data breach, you will be audited for compliance. At this time, you will need to present documented evidence of the preventive and corrective measures you took to protect your business’s sensitive data from insider threats.

 

Here’s what you can do to protect your data now and steer clear of potential penalties in the future:

 

  • Identify, document, and o troll access to your sensitive data
  • Define data privileges for employees and stakeholders based on their needs
  • Build suitable infrastructure that monitors abnormal behavior and raises timely alerts
  • Add insider threat parameters to your regular risk assessment
  • Introduce a robust security awareness training program for all stakeholders
  • Devise a strategy to investigate a breach caused due to insider threats

 

If you take these steps, they will go a long way towards significantly securing your business from insider threats. Plus, they will show regulators that you are committed to ensuring data protection.

 

Make Data Protection a Priority Now

 

Cyber threats are at an all-time high, and you simply cannot ignore the risks.

 

Make data protection a priority and rest knowing your network is secure. Every minute you wait is another minute you risk a cyber attack. Don’t wait to set up your cybersecurity strategy.

 

Connect with the cybersecurity consultants at Third Power IT to safeguard your network now. Visit www.ThirdPowerIT.com to get started.

 

The post Top Warning Signs & How to Prevent an Internal Data Breach appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

02.02.21
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Network Security: 4 Quick Tips to Protect Your Network From Hackers

Is your internet network safe from hackers?

The truth is that no network is security all the time, especially in this day and age. A cyber attack can happen any time, and sometimes it remains undetected for days, weeks, or even months.

 

That said, you should always strive for network security so you can minimize your risk of a data breach or full-blown cyber attack.

 

In this guide, you will learn how to safeguard your network so you are protected from cyber threats. Keep reading to discover four quick tips to secure your company’s network now.

 

#1. Choose Strong Passwords

 

Make your passwords long with numbers and upper and lowercase letters. The longer and more complex the password, the more difficult it is to guess. Encourage all of your employees to follow these guidelines.

 

 

#2. Encrypt Your Internet Connection With WPA

 

Enable a Wi-Fi Protected Access (WPA) encryption on your business network. WPA2 is the best and most trusted option. This protects your data from being shared with outside parties.

 

#3. Use a Virtual Private Network (VPN)

 

Add an extra layer of protection with a Virtual Private Network (VPN). This allows you to securely access your data on any network. If employees are traveling or working from home, they will be protected with your VPN.

 

#4. Install a Firewall

 

Protect customer data and keep your business in good standing by installing a Web Application Firewall (WAF). When people purchase your products or services online, their information will be protected from cyber attacks.

 

Protect Your Network Now With Co-Managed IT Services

Connect With Miami’s Best IT Specialists Now. Don’t wait to secure your network.

 

Not only will co-managed IT services provide you with cybersecurity and peace of mind, but it will also help increase your company’s productivity.

 

On average, companies that choose managed network infrastructure with Third Power IT are experiencing 99.99% uptime.

 

The service desk at Third Power IT operates 24 hours a day 7 days a week including holidays, solving an average 90% of all technology requests remotely with an average resolution time of 8 hours.

 

The network support staff is available 24/7 and is dedicated to ensuring the integrity of your network infrastructure.

 

Connect with us now to secure your network and experience the benefits of network management.

 

 

 

 

The post Network Security: 4 Quick Tips to Protect Your Network From Hackers appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com