As attacks on corporate data and infrastructure continue to rise, cybersecurity is at the forefront of business leaders’ minds. But what exactly is cybersecurity and how does protecting corporate assets differ from measures taken to secure personal data, particularly for a project-centric enterprise operating on a large ERP system?
Cybersecurity involves protecting your company’s hardware, software, networks, applications, devices, online access points, and data through a combination of technology, policies, and processes designed to resist attacks from both inside and outside the company. This includes protecting ERP systems, either as specific attack targets or as vulnerable systems through a larger IT infrastructure infiltration.
Cyberattacks have become so prevalent and threatening that they rank as a top business risk rather than an IT risk, according to a recent Gartner survey. Russia’s attack of the Ukraine has increased cybersecurity concerns and resulted in the U.S. Cybersecurity & Infrastructure Security Agency issuing a warning that Russian cyberattacks on Ukrainian government and infrastructure organizations could spill over to the United States. Financial services, utilities companies, and government organizations are at particular risk.
Common Types of Cyberattacks
Any size company can be subject to a cyberattack. A cybersecurity attack can come in multiple forms, including:
- Malware attacks – viruses, worms, spyware, adware, and ransomware fall into this category. Malware is short for malicious software and is designed to harm or exploit IT systems and data. In a ransomware attack, the cyber criminals essentially hold the systems or data hostage until paid a ransom.
- Internet of Things (IoT) attacks – IoT refers to the network of physical devices or objects that are connected to the internet and equipped with sensors, software, or another technology that allows data transmission and receipt. A car, smart watch, piece of factory equipment, or home security system can be considered an IoT device and make a company vulnerable to a cyberattack. With more employees working from home since the pandemic, companies have become more vulnerable to IoT attacks.
- Denial of service attack – in this type of cyberattack, the perpetrator floods a network or system with traffic making it inaccessible to intended users. Victims lose both valuable time and money while systems are shutdown.
- Advanced persistent threats – attackers infiltrate a system or network undetected and remain present gathering sensitive data or interrupting crucial services. Companies in the defense and financial industries are particularly vulnerable to these threats.
- Supply chain attacks – an organization’s IT infrastructure and systems can be compromised when a vendor, partner, and other third-party associate with which it shares data is attacked.
- Social engineering attacks – in these, cyber criminals trick employees into revealing sensitive or confidential information. Often, the goal is to obtain money or data that can lead to financial gain for the cyber attacker. These schemes include phishing emails and often incorporate other types of cyberattacks, such as malware.
Protecting your organization from cyberattack can involve a number of defenses. Here are some common prevention measures:
- Network security – protecting a company’s boundary between its intranet and its extranet. This involves protecting the network from unauthorized users and can include login and application security measures.
- Endpoint security – antivirus, malware, IoT security, and cloud security to protect network-connected devices from breaches. Endpoint devices can include laptops and desktops, mobile devices, and outside servers.
- Application security – protecting data and code within apps both during development and deployment with firewalls, encryption, antivirus, and other programs.
- Data security – tools and processes to protect sensitive information within a system or while in transit, including encryption, data backups, and data monitoring.
- Cloud security – cloud providers must improve security for users, through encryption, better identity and access management initiatives, and strong firewalls.
- Identity and access management – steps such as two- or multi-factor authentication and biometrics to control user access to systems and sensitive information.
- Security information and event management – real-time monitoring and analysis of data and events to help detect and defend against cyberattacks, particularly through artificial intelligence and machine learning.
Dassian Can Help with Cybersecurity
Standardizing solutions can reduce cyber risks. Dassian’s integrated suite of solutions introduces a single digital thread that cuts cyber security risks and enhances cross-function business processes. Contact us today.