4 ways to prevent cyber crime for your business

Cyber security wasn’t even a concern for most companies less than a decade ago. Today, we live in a digital world where cyber criminals appear to have the advantage as they are constantly seeking ways steal confidential information, but there are ways to prevent cyber crime.

Despite companies’ internal teams attempting to manage cyber risk, attackers have continued to get through.

Where did companies go wrong?

Misaligned incentives in IT can be caused in a number of ways: corporate bureaucracy, strategy versus implementation, different KPIs and lack of incentives. The key to understanding the ways to prevent cyber crime is to first understand what went wrong.

Corporate Bureaucracy

A rigid corporate structure puts cyber security at a disadvantage because the IT personnel must work within strict constraints formed by risk management, governance and structure workflows. On the other hand, cyber criminals have flexibility through ad-hoc networking therefore leaving the defenders at a disadvantage because they aren’t playing at the same level.

Strategy vs. implementation

While organizations can have strategies in place, they may not be as inclusive as the company originally thought. The primary threats are addressed, but emerging threats and security holes are not handled properly, which leaves your company at risk.

Varying KPIs

Different key performance indicators (KPIs) are used to measure success, but this creates an internal discord. While cyber security teams would be looking to measure success by looking at their overall breach incidents, calculating cost of recovery and performing vulnerability scans, executives would have the concern with general performance numbers and the costs associated with those procedures.

Lack of Incentives

Cybercriminals have much more incentive than cyber security teams, such as receiving a big payoff when successfully receiving a ransom. They look for new tools to beat security systems, while internal IT teams are often by corporate bureaucracy.

But, how can you better protect your business from cyber crime?

When your business uses a managed service provider (MSP), they can help to improve your company’s current cyber security offerings. This will help to bring in more customers and will provide you ways to prevent cyber crime.

Service Model

Most managed service providers offer ways to prevent cyber crime as a service to businesses. Hackers who break into systems without the owning permission respond to market forces, improve their skill set and add competitive elements to their growing knowledge. If you hire an MSP, they have the ability to emulate these tactics by becoming your security contractor.

Performance Incentives

Incorporating incentives is yet another way to overcome attackers in the cyber security war. When operators are rewarded for thwarting attacks, it gives them more of a reason to put in an extra effort. Some examples of effective incentives include reimbursement for training, offering flexible schedules and providing the opportunity to make a major difference — all of which we offer our operators at Dynamix.

Global Talent Pool

Most internal IT teams aren’t even hired to be IT operators at all. More times than not, IT tasks are just tacked on an employees’ workload rather than hiring specifically for that position. When you work with a MSP, they leverage their talent on a global level that will diversify backgrounds, perspective and skill sets.

Success Metrics

In order for strategies to work, there need to be consistent success metrics in place so that everyone is on the same page. MSPs provide a single version of the most important metrics, which will allow executives to understand the expectations set in place for cyber security.

Cyber criminals aren’t going away in the near future. If you are looking to protect your company against cyber crime threats, contact Dynamix Solutions today.

 

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