Throughout 2018 alone, the list of threats included:
• Fileless malware
• Cross-operating system attacks
• Cryptocurrency mining
• Hardware vulnerabilities such as “Spectre” and “Meltdown”
This list is just the tip of the iceberg and organisations should be constantly reviewing their security.
Cyber Security Failures
Unfortunately, evidence suggests that many businesses are not managing to get the basics of cyber security right. Failures in security measures were cited as the reasons for cyber breaches in a high proportion of cases and organisations were reportedly not learning from past attacks. Recommended improvements were not carried out and weaknesses were not identified.
Worryingly, surveys have shown that, in general, UK firms are over-confident about their cyber security capabilities. In a recent report by Computer Weekly, three quarters of respondents thought their cyber protection was above average, when in fact only 36% were performing adequately.
A dedicated specialist is able to keep up to date with the latest tactics and proceedures used by criminals. IT teams within organisations frequently don’t have this level of knowledge and are unable to devote the time to it that it demands.
An outsourced cyber security specialist is likely to cost less than an in-house cyber security specialist with an average salary of over £60,000 in 2018.
There is a lack of skills in this area in the marketplace, meaning that not every organisation can hire a cyber security specialist with the skills required. There is predicted to be a global shortage of 3.5 million cyber security specialists by 2021. Such high demand means that many organisations will be unable to resource such professionals.
Even if you have your own IT team who are confident in their ability to protect your organisation, it is always a good idea to double check their systems and proceedures. People can be blind to errors in their own work, and when the stakes are this high, independent validation is a very good idea.
Why should you outsource cyber-security operations?
With cybersecurity now one of the top threats for companies, cybercrime cost the global economy over $600 billion in 2018. Tackling cybercrime must be a priority for organisations but keeping a business secure is extremely complex and requires specialist knowledge.