Tag Archives: it security experts in miami

04.20.21
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Are Your Employees Your Biggest Cybersecurity Risk? The Top 4 Insider Threats Affecting Your Network

Are Your Employees Your Biggest Cybersecurity Risk? The Top 4 Insider Threats Affecting Your Network

 

Are your employees putting your network security at risk?

 

Even if your employees don’t intend on exposing your business to cybercriminals, they may still pose a threat.

 

With remote work gaining even more traction and decentralized workspaces becoming the new norm, businesses like yours are putting more focus on cybersecurity.

 

As a result, it’s important to have strategies in place to counter human errors and data breaches perpetrated by insiders.

 

Who’s An Insider & What Is An Insider Threat?

 

An insider is anyone who has access to your network. Insiders come in the form of employees, supply chain partners and company stakeholders.

 

When an insider exposes your network to cybercriminals, it’s considered an insider threat.

 

All employees, regardless of their designation or rank, can put your business in a vulnerable cybersecurity position.

 

Why Do Employees Pose a Risk to Businesses?

 

Did you know employees account for nearly a quarter of data breaches within a business?

 

According to IBM’s Cost of a Data Breach Report 2020, 23 percent of data breaches in an organization occurred because of human error.

 

As you can see, an untrained employee can compromise your business’ security in multiple ways. Keep reading to discover the top 4 common errors committed by employees.

 

The Top 4 Employee Threats To Your Network

 

1. Falling for Phishing Scams

 

Cybercriminals are using improved techniques, like spoofed emails and text messages, to succeed in their scams.

 

With the onset of COVID-19, hackers masqueraded as the World Health Organization (WHO) to trick people into clicking on malicious links and sharing sensitive information.

 

2. Poor Password Protection

 

If your employees reuse the same password or a set of passwords for multiple accounts (business and personal), this can be a dangerous habit that allows cybercriminals to crack your network security.

 

3. Misdelivery

 

Even slight carelessness can lead to an employee sending sensitive, business-critical information to a hacker. Such an act can cause lasting damage to your business.

 

4. Improper Patch Management

 

Often, employees can delay the deployment of a security patch sent to their device, which can make your IT security vulnerable.

 

The Bottom Line: Cybercriminals Are Getting Smarter, And You Need To Be Prepared

 

With cybercriminals upgrading their arsenal every day, you and your employees need to be ready to combat costly cyber threats.

 

You can transform your business’ biggest cybersecurity risk – your employees – into its prime defense against threats by developing a security culture that emphasizes adequate and regular security awareness training.

 

Making all this happen requires continued effort. With the right partner by your side, you can easily integrate security awareness training into your cybersecurity strategy.

 

Take the first step towards training and empowering your employees: contact the cybersecurity consultants at Third Power IT. Visit www.ThirdPowerIT.com to get started now.

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Article curated and used by permission.

 

Sources:

  1. McAfee Cloud Adoption & Risk Report
  2. Verizon 2020 Data Breach Investigations Report
  3. Security Magazine Verizon Data Breach Digest

The post Are Your Employees Your Biggest Cybersecurity Risk? The Top 4 Insider Threats Affecting Your Network appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

04.16.21
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Cybersecurity Awareness Training: An Essential Investment For Protecting Your Network From A Cyber Attack

Did you know employee error accounted for nearly a quarter of data breaches in 2020?

 

That’s why it’s so important to implement routine security awareness training for your employees.

 

As the first line of defense against cyber attacks, your employees must be thoroughly and regularly trained to identify and deflate potential cyber threats. This can help you prevent a vulnerability from escalating into a disastrous cyber attack.

 

What Is Security Awareness Training?

 

In order to deal with the growing cyber threat landscape, your employees need thorough and regular security awareness training.

 

Security awareness training is the ongoing process of educating your employees on best practices when it comes to cybersecurity.

 

This training should include:

 

  • How to create strong passwords and keep them protected
  • How to identify suspicious emails, links and more
  • How to implement and manage security patches

 

When employees know what to look for and what to avoid, they will be less likely to fall victim to a cyber attack.

 

Why Invest In Security Awareness Training?

 

When you invest in security awareness training, employees will be well equipped to identify cyber threats and respond to them quickly and efficiently.

 

This can save your business from:

  • Data breaches
  • Damage to reputation
  • Expensive lawsuits

 

The following statistics further highlight why you should invest in regular security awareness training:

 

  • 80% of organizations experience at least one compromised account threat per month.
  • 67% of data breaches result from human error, credential theft or social attack.
  • Since the start of the COVID-19 pandemic, phishing attacks have gone up by 67%.

 

As you can see, cyber threats are only getting more common, and they’re here to stay. Why not train your employees to help ward them off?

 

Implement Security Awareness Training Now

 

Help your employees help you. When you implement security awareness training, your employees will feel a greater sense of responsibility to keep your network safe.

 

Plus, they’ll know how to avoid minor mistakes that can snowball into a massive data breach that will negatively impact that whole company.

 

With ongoing training, you can transform your biggest cybersecurity risk – your employees – into your prime defense against cyber threats.

 

Take the first step toward developing a security culture that emphasizes adequate and regular security awareness training.

 

Not sure where to start?

 

The cybersecurity experts at Third Power IT can help. As Miami’s premier network security consultants, Third Power IT can help you implement a security awareness training program that works.

 

Ask us about our custom offerings today. Call us now at 844-677-3687 and learn more at www.ThirdPowerIT.com.

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Article curated and used by permission.

 

Sources:

  1. McAfee Cloud Adoption & Risk Report
  2. Verizon 2020 Data Breach Investigations Report
  3. Security Magazine Verizon Data Breach Digest

 

 

 

The post Cybersecurity Awareness Training: An Essential Investment For Protecting Your Network From A Cyber Attack 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

02.23.21
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Personally Identifiable Information (PII): Why You Need To Secure Your Customer Data

Are you risking a cyber attack by unknowingly allowing access to your clients’ personal information?

 

When you expose customer data, you become vulnerable to cyber attacks. Even if the breach is unintentional, you still risk getting sued for breaking confidentiality. And you will certainly be liable for violating legal compliance.

 

As a result, it’s important to secure customer data so you can avoid a cyber attack and the headache that comes with it.

 

Now that you know the importance of this, let’s take a look at the customer data in question, also known as Personally Identifiable Information (PII).

 

What is PII?

 

PII refers to any information maintained by an agency that can be used to identify or trace an individual.

 

In other words, PII includes data points that such as:

 

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

 

Any of the above information can be used to identify anonymous data.

 

So, why is it so important to protect PII?

 

Why Secure Your Customer Data?

 

If your organization handles PII, you must take steps to secure your customer data.

 

Not only is this essential from a compliance standpoint, but with security breaches on the rise, you have to make sure customer PII is not being compromised.

 

Is it really that common? In short, yes.

 

As a frame of reference, Risk Based Security revealed that by the end of 2020, a total of 36 billion records had been exposed and compromised.

 

When you put this information at risk, you lose the trust of your customers, thus damaging your company’s reputation. Plus, this enables hackers to steal your sensitive data and proprietary information. What’s more, if you are found negligent, you might end up facing fines, lawsuits, and more.

 

In particular, healthcare facilities and financial institutions must carefully collect and store customer data so that it remains confidential. The repercussions of falling short are severe.

 

Regardless of your industry, if you manage PII, you need to protect it. Are you ready to get started?

 

Protect Personally Identifiable Information With Third Power IT

 

If your business handles PII, you can’t risk putting customer data at risk.

 

A breach of this kind can result in:

  • Getting fined or sued
  • Losing loyal customers
  • Closing your business for good

 

Don’t let this happen to you.

 

Protect PII now with the help of Third Power IT, Miami’s best cybersecurity consultants. Visit www.ThirdPowerIT.com to learn more and get started now.

 

 

 

 

 

 

The post Personally Identifiable Information (PII): Why You Need To Secure Your Customer Data appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

01.25.21
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Miami IT Consultants Talk the Top 4 Internal Cyber Threats To Your Network

Is your business at risk of an insider cyber-attack?

 

Many business owners – and the IT professionals they rely on – focus on protecting their companies from external threats:

 

  • the lone hacker out for a large ransom
  • the industry competitor pilfering secrets
  • organized cyber-criminals with sophisticated phishing schemes

 

But what about internal threats?

 

The Dangers of Internal Cyber Threats

 

Some organizations fail to consider the true risks that insiders pose to their cybersecurity. But internal risks are every bit as dangerous and damaging as the external ones, even if there is no malicious intent.

 

Did you know a quarter of all cyber attacks happen because of an insider threat?

 

The 2019 IBM Cost of Data Breach survey revealed that 24% of all data breaches in the past five years were the result of negligent employees or contractors.

 

Another report, Insider Data Breach Survey, found:

  • 60% of executives felt employees who made mistakes while rushing to complete tasks were the primary cause of internal breaches.
  • Another 44% pointed to a lack of general awareness as the second most common reason.
  • 36% cited inadequate training for their organization’s security tools as a close third.

 

To drive home the full harm of insider threats, we’ve compiled four actual case studies of internal people who’ve wreaked financial and reputational damage when they got careless, or abused their knowledge and positions for personal gain.

 

Learn the top four internal cyber threats to your network now.

 

Top 4 Internal Cyber Threats to Your Network

 

Internal Cyber Threat #1: The Careless Employee

 

A report by a company’s chief security officer discovered that one of the organization’s techs was using duplicate credentials across multiple accounts and failed to set up two-factor authentication on at least two of his accounts.

 

The employee neglected to do two important cybersecurity best practices:

  1. Do not use the same log-in for more than one account
  2. Apply two-factor authentication for additional protection

 

This weak security enabled hackers to easily infiltrate the company’s network where they disabled and deleted all data backups – local and cloud. After sabotaging the organization’s backups, the hackers then installed ransomware and demanded payment. Without a usable backup, the company was forced to pay the ransom to recover its data.

 

What You Can Do

  • Set up automatic scans to check each client’s security settings on each machine to ensure that your IT security policies are being enforced.
  • Generate an automatic alert when two-factor authentication is not turned on where it should be.

 

Internal Cyber Threat #2: The Sneaky Former Employee

 

Former employees take your proprietary information with them when they leave. Unfortunately, some of them decide to appropriate that information.

 

In a case study, an engineer quit his job to start his own business that would be in direct competition with the company he left. According to court documents, the engineer hacked his former company’s server using a former co-worker’s stolen credentials.

 

Once inside the network, he was able to retrieve AutoCAD files, design schematics, project proposals, and budgetary documents – all information that could provide a competitive advantage over his former employer. The value attributed to proprietary information he stole was between $250,000 and $550,000.

 

For his efforts, the engineer was sentenced to 18 months in prison and two years of supervised release.

 

What You Can Do

  • Establish “exit procedures” for employee turn-over that includes the immediate removal of ex-employees from Active Directory.
  • Scan the network daily for suspicious log-in attempts by ex-employees and others, and generate an alert for each incident.

 

Internal Cyber Threat #3: The Compromised Third-Party Vendor

 

An “insider” doesn’t have to be located directly within your walls to become a threat to your network. Trusted third-party vendors may have enough access to your data to be unknowing conduits for external hackers and do damage to your network.

 

In one scenario, a hacker infiltrated a billing collections agency and gained access to patient information that belonged to one of the agency’s clients: a healthcare laboratory.

 

Almost 12 million patient records were compromised, including credit card numbers and other personal identifying information. A security firm that tracks compromised data found 200,000 patient payment details from the billing company for sale on the dark web.

 

Fortunately, the lab had insurance in place to cover some of the potential cost and liability as a result of the HIPAA violation.

 

What You Can Do

  • Set up internal IT security policies that limit storage of credit card and other personal identifying information.
  • Only grant access to select employees with security clearance levels.
  • Regularly scan the network for any suspicious log-in attempts and generate alerts to investigate.

 

Internal Cyber Threat #4: Software and Devices

 

Out-of-date devices and software typically do not receive critical security updates, rendering them accessible to hackers.

 

In one instance, a massive cyber attack penetrated a software vendor’s IT management systems through a legacy IP scanner tool and compromised an unknown number of end-user client servers.

 

Some clients had administrative superuser accounts created within their Windows active directory, so unidentified intruders had full access to their systems and data long before detection.

 

More than two months after the attack, the full extent of the damage was still unknown.

 

What You Can Do

  • Scan all networks daily for software that is missing the latest security patches.
  • Generate alerts for machines that need updating.

 

Protect Your Network With Third Power IT, Miami’s Most Trusted IT Consultants

 

As a reputable MSP, we understand cybersecurity and its significance to your business.

 

At Third Power IT, we provide cyber threat detection and protection that can accommodate networks of any size. Our specialized security software runs a daily check on your network and alerts us immediately when it detects potential cyber attacks.

 

Get the protection you need now. Call us at 844-677-3687 or visit www.ThirdPowerIT.com.

 

Sources:

  • Cost of a Data Breach, IBM, 2019
  • Insider Data Breach Survey 2019, egress, 2020

 

 

The post Miami IT Consultants Talk the Top 4 Internal Cyber Threats To Your Network appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

01.21.21
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Could Downtime Cost Your Business Thousands?

Are you aware of the costly consequences of downtime?

Downtime related to one cyber-attack could cost your business the equivalent of an employee’s salary for a whole year!

This 5-figure risk shouldn’t be taken lightly, especially when there are ways to prevent it from happening to you.

Before we dive into how you can prevent downtime from happening to your business, let’s quickly cover what downtime is and how it can affect you.

 

What Is Downtime In Business?

Downtime refers to the period of time when your company is offline. During this time, you don’t have access to your network. This prevents you and your employees from performing routine tasks online. As a result, your online business transactions are halted, your email is inaccessible, and you’re losing money by the minute.

No business owner wants this. Not only does it make you look unprofessional, but it also eats away at your productivity and your profits.

Keep reading to find out what causes downtime so you can prevent it from happening to you and your business.

 

What Causes Downtime?

Downtime occurs when a network connection is interrupted. That can mean a simple internet outage, or it can be more serious like a cyber attack.

One of the most common cyber threats is called a ransomware attack. If this happens to you, you risk losing a whole week of sales.

As you can see, this is a serious threat to your business. Luckily, it’s possible to minimize the risk of downtime and protect your business from cyber attacks.

Read on to discover how to minimize downtime so your business can operate as lean as possible.

 

How To Minimize Downtime

Keep your business up and running by preventing downtime from happening to you.

  • Secure your network
  • Enable data protection
  • Assess cyber risks regularly

Now you know the importance of protecting your business from downtime. But where do you start?

Luckily, you can hire experts to oversee your network management. These managed IT services will help you keep your business safe and secure.

Are you ready to get started?

 

Prevent Downtime: Invest In Network Management Now

Now that you know how much downtime can cost you, you’re most likely certain that you don’t want to experience it. But how do you keep that from happening?

 

If you don’t know how to keep the risks at bay, that’s what we’re here for!

Third Power IT provides the most trusted Managed IT Services in Miami and South Florida. If you are looking for a network management partner who understands your unique needs, you’re in the right place.

The experts at Third Power IT, South Florida’s best IT consultants, use a 3-prong approach to protect your network:

  1. Strategy
  2. Security
  3. Stability

To start designing your custom network management plan, contact us at 844-677-3687 or visit www.ThirdPowerIT.com right now.

 

The post Could Downtime Cost Your Business Thousands? appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

12.29.20
by

Your Data Protection: A Closer Look At Data Privacy And Data Security – And Why You Need Both

Do you have processes in place to keep your data safe and compliant?

The importance of data privacy and data security has grown exponentially as organizations today collect and store more information than ever before.

Having a robust data protection strategy is critical to safeguard confidential information and to ensure smooth functioning of your business. But before we move on, let’s take a step back to understand the key concepts of data privacy and data security.

The terms data privacy and data security are often misunderstood and are being used interchangeably. However, they are two separate concepts.

Now let’s take a closer look at the difference between the two.

 

The Difference Between Data Privacy And Data Security

Does your business require data privacy, or does it need data security?

The answer: It probably needs both.

While data privacy focuses on how information is handled, stored and used, data security is concerned with protecting your organization’s assets.

  • Data Privacy: the process of safely handling and storing sensitive data
  • Data Security: the strategy to protect data from cyberthreats

As you can see, your business most likely needs both processes in order to remain protected and compliant.

Now let’s take a closer look at how each operates.

 

Understanding Data Privacy & Why You Need It

Data privacy deals with the regulations and practices to ensure data is responsibly handled. It includes how information is collected, processed, stored and disseminated.

Any organization that collects and stores data or does business across the globe should comply with several privacy regulations, such as:

  • General Data Protection Regulation (GDPR)
  • California Consumer Privacy Act (CCPA)
  • Health Insurance Portability and Accountability Act (HIPAA)
  • Payment Card Industry Data Security Standard (PCI DSS)
  • Children’s Online Privacy Protection Act (COPPA)

In addition to the privacy regulations named above, your business should also comply with other relevant privacy laws.

The aim of these regulations is to protect and enhance consumer and personal privacy. These rules give individuals the right to know what information is collected, why it’s collected and how it’s processed.

As data privacy regulations are growing globally and becoming more complex, privacy requirements are also changing. Non-compliance to these laws could cost your business dearly.

 

Did you know? In 2019, Google was fined $57 million under the European Union’s GDPR law.

 

The Importance of Data Privacy

Data privacy is an individual’s right to control who has access to personal information and how it should be used. This also protects personal information from being sold or redistributed to third parties.

When organizations collect customer data, it is the organization’s responsibility to protect and preserve their clients’ sensitive information. Not having a privacy policy in place or failure to complywith privacy laws can lead to serious consequences, apart from legal actions and financial loss.

Now that you understand data privacy, let’s dive deeper into what data security is and why it’s also important to your business.

 

Understanding Data Security & Why You Need It

Data security is the process of protecting information from unauthorized access, data corruption and data loss. A data security process includes various techniques, data management practices, and technologies that act as defense mechanisms to protect data from internal and external threats.

Data security is concerned with what an organization does with the data collected, where and how the data is stored, and regulates who can access the information.

 

A comprehensive data security strategy will:

  • Help prevent data breaches
  • Ensure business continuity
  • Keep your company’s data safe from cyberthreats

 

Did you know? It is estimated that organizational spending on cybersecurity will reach $123 billion in 2020. 

 

Importance of Data Security

Have you heard the expression, “Data is the new oil”?

Coined by Clive Robert Humby in 2006, this term stands true in today’s competitive business environment. Data security is critical for the smooth functioning of day-to-day operations and running a business successfully.

Failure to protect your organization’s confidential data can:

  • Damage your brand’s value
  • Result in regulatory penalties
  • Shut down your business for good

The alarming rate at which cyberattacks are growing has forced organizations of all sizes to consider data security as a top priority.

Depending upon the purpose, type of industry, or geographical location, your business can implement security compliance frameworks and international standards, such as:

  • The National Institute of Standards and Technology (NIST)
  • The International Organization for Standardization (ISO)
  • Payment Card Industry Data Security Standard (PCI DSS)

These compliance frameworks provide guidance and best practices for information security. Each of the standards above were designed to help you:

  • Assess your IT security measures
  • Manage cyber risks and threats
  • Respond to security incidents
  • Improve your information security management system

Now that you’re familiar with both terms, let’s take an even closer look at the key differences between the two.

 

The Difference Between Data Privacy and Data Security

In simple terms, data privacy and data security are two sides of the same coin. They are separate concepts but are closely related.

Achieving data security doesn’t ensure data privacy and vice versa, but both are required to establish a comprehensive data protection strategy.

 

Knowing the difference between these terms will help you:

  • Strategize more effectively
  • Prevent data breaches
  • Stay legally compliant

Let’s distinguish the two concepts with a hypothetical example.

Assume you own a laptop, where you store personal information. To avoid people from accessing those files, you pasted a sticker on the cover that reads “Do Not Touch.” But in order to add an extra layer of privacy, in case people don’t read or ignore the sticker, you locked the computer with a secure password.

 

Do you know which is data privacy and which is data security?

There are two things to note here:

  1. The ‘Do Not Touch’ sticker tells people to keep away from your laptop, thereby authorizing your privacy.
  2. The password ensures no one can access your data, thereby protecting your data from unauthorized access.

As a result, the sticker represents your data privacy, while the password resembles your data security.

Are you ready to put both processes in place so your data is ultra-protected?

 

How to Achieve Data Privacy and Security While Being Legally Compliant

Achieving data privacy and data security and complying with several laws have their own set of challenges. Even large organizations struggle to understand and implement the right security management and compliance measures.

But that doesn’t need to be the case for your business.

Read on to find out how you can keep your data safe and compliant starting right now.

 

Team Up With IT Experts To Keep Your Data Safe & Compliant

While you may have a better understanding of data privacy and data security, it’s still best to team up with an IT expert. That way, you will ensure you’re protected and compliant.

Are you ready to join countless other businesses who are adapting to keep their data private and secure?

 

Improve Your Data Security With Third Power IT

Miami’s Most Trusted Managed IT Services

 

At Third Power IT, we have a robust team of IT Compliance & security experts you can trust to help you implement both of these important practices.

As the most trusted provider of managed IT services in South Florida, we are confident we can help you protect your data and remain compliant.

We know one size doesn’t fit all when it comes to cybersecurity, which is why we are happy to build custom packages to fit your unique needs.

Connect with us now at 844-677-3687 to start building your custom IT compliance & security package now.

Article curated and used by permission.

Data Sources:

The post Your Data Protection: A Closer Look At Data Privacy And Data Security – And Why You Need Both appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

12.28.20
by

IT Security: Why You Should Make Risk Management An Ongoing Operational Standard

Are you making IT security a top priority?

No business today is 100 percent secure from cyberthreats, and more businesses are waking up to this reality now than ever before.

It’s no wonder cybersecurity investment in 2020 is pegged to grow by 5.6 percent to reach nearly $43.1 billion in value.1 

With cyberattacks surging due to widespread remote work and increased online interactions during the pandemic, it seems likely that this trend will only continue to grow.

While 58 percent of IT leaders and practitioners consider improving IT security their topmost priority, nearly 53 percent of them find cybersecurity and data protection to be among their biggest challenges as well.2 

 

That’s primarily because cybersecurity is not a one-and-done exercise. 

While your business might be safe right now, it could be at risk the very next minute.

Are you doing enough to ensure your IT security?

Securing your business’s critical data and the data of your invaluable clients/customers requires undeterred effort sustained over a long period of time.

Although there are several pieces to this puzzle, the most important one, considering today’s threat landscape, is ongoing risk management.

Through the course of this blog, you will understand the definition of a cybersecurity risk assessment and why you must conduct and monitor them regularly.

Cybersecurity risk assessments will help you:

  • Understand the risks threatening your IT security
  • Take action to keep your cybersecurity strong
  • Steer clear of ever-evolving cyber threats
  • Prevent loss of data, productivity, and revenue

By the end of this article, we hope you realize how installing cybersecurity solutions alone isn’t enough to counter cyberattacks — unless you make ongoing risk management an operational standard for your business.

Keep reading to start understanding the importance of cybersecurity risk assessments right now.

 

Understanding The Importance Of Cybersecurity Risk Assessments

In general, a cybersecurity risk assessment refers to the act of understanding, managing, controlling and mitigating cybersecurity risks across your business’s infrastructure.

In its Cybersecurity Framework (CSF), the National Institute of Standards and Technology (NIST) states that the purpose of cybersecurity risk assessments is to “identify, estimate and prioritize risk to organizational operations, assets, individuals, other organizations and the Nation, resulting from the operation and use of information systems.”

 

The primary purpose of a cybersecurity risk assessment is to help key decision-makers tackle prevalent and imminent risks. 

Ideally, an assessment must answer the following questions:

IT Security Risk Assessment Questions

  • What are your business’s key IT assets?
  • What type of data breach would have a major impact on your business?
  • What are the relevant threats to your business and their sources?
  • What are the internal and external security vulnerabilities?
  • What would be the impact if any of the vulnerabilities were exploited?
  • What is the probability of a vulnerability being exploited?
  • What cyberattacks or security threats could impact your business’ ability to function?

The answers to these questions will help you keep track of security risks and mitigate them before disaster strikes.

Now, imagine periodically if you had the answers to these questions whenever you sat down to make key business decisions. If you’re wondering how it would benefit you, keep reading.

 

Why Make Ongoing Risk Management An Operational Standard?

Making ongoing risk management an operational standard is vital, especially in today’s cyberthreat landscape, where even a single threat can break your business.

In one assessment, your business might seem on the right track but in the next one, certain factors could show weaknesses in your cybersecurity framework.

That’s precisely why having an ongoing risk management strategy is now an integral part of standard operations for most successful businesses.

Are you ready to prioritize your cybersecurity and keep your business safe from cyber threats?

Here are seven reasons why you just can’t keep this key business decision on the backburner anymore:

 

7 Reasons To Make Risk Management An Operational Standard

Reason 1: Keep Threats At Bay

Most importantly, an ongoing risk management strategy will help you keep threats, both prevalent and imminent, at a safe distance from your business; especially ones you usually do not monitor regularly.

Reason 2: Prevent Data Loss

Theft or loss of business-critical data can set your business back a long way, leading you to lose business to your competitors. Ongoing risk management can help you remain vigilant of any possible attempts at compromising your business data.

Reason 3: Enhance Operational Efficiency And Reduce Workforce Frustration

As a business owner or key decision-maker of your organization, you would be amazed how consistently staying on top of potential cybersecurity threats can reduce the risk of unplanned downtime. The assurance that hard work will not vanish into thin air will keep the morale of your employees high, thereby reflecting positively on their productivity.

Reason 4: Reduce Long-Term Costs

Identifying potential vulnerabilities and mitigating them in time can help you prevent or reduce security incidents. This can save your business a significant amount of time, money and/or potential reputational damage.

Reason 5: Set The Right Tone And Plan For The Future

You must not assume that there should only be one fixed template for all your future cybersecurity risk assessments. However, in order to update them continuously, you need to conduct one in the first place. Hence, the first few assessments will set the right tone for future assessments as part of your ongoing risk management strategy.

Reason 6: Improve Organizational Knowledge

Knowing security vulnerabilities across the business will help you keep a keen eye on important aspects that your business must improve on.

Reason 7: Avoid Regulatory Compliance Issues

By ensuring that you put up a formidable defense against cyberthreats, you will automatically avoid hassles with respect to complying with regulatory standards such as HIPAA, GDPR, PCI DSS, etc.

Now that you know why risk management is an important operational standard, it’s time to start putting it in place — and fast.

Did you know? The Oxford Academic Journal of Cybersecurity estimates the costs of cyber events to total roughly $8.5 billion per year. 

 

Prevent Cyber Attacks Now – Join Hands With ThirdPower IT

The Best Cybersecurity Firm In South Florida

As you now know, cyber threats are increasing every day. Don’t get hit hard by a cyber attack. Ensure your cybersecurity now so your business can keep growing.

Don’t wait for a problem to take place — prevent hacks from happening by partnering with the most trusted IT firm in South Florida.

At ThirdPower IT, we’ll help you gauge every single cybersecurity risk your business is exposed to and protect your business continuously for a prolonged period of time.

 

Protect Your Business Now – Connect With ThirdPowerIT, a Miami Cybersecurity Company, Today

Connect with us today to find out how you can prevent cybersecurity problems from happening before they start.

 

Call us now at 844-677-3687, or visit ThirdPowerIT.com and learn more about how our IT Security services and chat with an IT security expert today.

 

Article curated and used by permission.

Data Sources:

  1. Global Cybersecurity 2020 Forecast Canalys
  2. 2020 State of IT Operations Survey, Kaseya
  3. Oxford Academic Journal of Cybersecurity

 

The post IT Security: Why You Should Make Risk Management An Ongoing Operational Standard appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com