Extreme Makeover: Network Security Edition

The appeal of makeover and home renovation shows is no doubt the Cinderella transformation that seems to happen overnight to deserving people and places. Where security transformation is concerned, though, the process is rarely an overnight miracle. The sooner your company resolves to take steps toward securing its firewalls from the inside out, the sooner you may be writing your own network security Cinderella story.

Here are three areas to consider as you conduct your “makeover:”

1. Achieve buy-in with employees - Your employees are your greatest stakeholders in achieving optimum network security. For example, Verizon's 2018 Data Breach Incident Report found that 74% of security breaches in the public sector are initiated by phishing e-mails (sent to employees). There are so many seemingly innocent things that employees may be doing that pose serious hazards to the company network. Simply plugging in a USB drive to their personal computers at home, then returning the USB to their work laptop can unwittingly transfer malware into the corporate network. Education about employees’ role in fighting security threats is key. Some professionals refer to this as “people patching,” Just as you regularly update hardware or operating systems, employees should be provided with updates on a similar cycle, making them aware of the latest security vulnerabilities and how to recognize and avoid them.

2. Maintain the highest levels of security in all devices

Demanding the highest level of security on all company-issued devices as a baseline expectation will become part of your company culture--and that’s not a bad thing. You may meet some resistance to incorporating encryption into password protection at first, but chances are, your employees are already using encryption at home. Apps such as LastPass are used in everything from encrypting bank passwords to home security system codes. Encryption is becoming a more familiar and less fearsome term where employee participation is involved.

3. Assemble an incident response team
Given that the average total cost of a data breach exceeds $3M, according to IBM’s most recent report on cybersecurity, responding to every computer security incident in your company may be well beyond your capacity as an individual. The SANS Institute recommends assembling a Computer Incident Response Team, “whose purpose is to promptly and correctly handle an incident so that it can be quickly contained, investigated, and recovered from.” Training this group of individuals, who may have many other duties within the organization, will empower others in the company to be vigilant and responsive, especially when cyberattacks are becoming increasingly sophisticated.

On the front end, the investment of time and energy in training your team may seem high. On the tail end, though, IBM reported that having an incident response team can save $19 per record and $450k per data breach. Many companies find hiring an MSP for their IT a worthy investment. It is nearly impossible for 1-2 people to have all the skills needed to handle all of the network issues as well as stay apprised of all the security threats. MSPs have deep skills in a wide range of technologies and are capable of providing network security that minimizes and reduces risks.

Does your financial institution need to advance its network security? Download our white paper, Security in Layers, designed to give a full picture of how you can implement a plan from the inside out.