Data Backup and Recovery: The Essential Guide For Businesses

Businesses and organizations quickly realize three things during daily operations: computers can crash, people can make mistakes, and disasters can strike when you least expect them to. Data backup and disaster recovery are crucial components of running a successful company.

Businesses should plan ahead and have data backup systems in place for the worst. Data backup systems that work well are built using separate drives or an offsite server to store large amounts of data. Data recovery is difficult without these systems, which can lead to data loss when the worst happens.

What is Data Backup & Recovery?

Data backup and disaster recovery refers to the process that involves backing your data up in case of loss, and creating secure systems to allow you recover your information. Data backup involves the storage and copying of computer data in order to make them accessible in the event of data corruption or deletion. Data can only be recovered from an earlier date if it has been backed up.

Data backup is one type of disaster recovery. It is essential to any sensible disaster recovery plan.

Backups of data may not always restore all settings and data. Computer clusters, database servers and active directory servers might require additional disaster recovery options, as a backup and recovery may not fully reconstitute them.

Cloud storage makes it possible to back up large amounts of data. Therefore, you don’t need to store your data on an external hard drive or local storage. Cloud technologies can be used to set up mobile devices that allow for automatic data recovery.

Offsite Servers vs. Independent Drives

Because they offer massive data storage at a nominal cost, offsite servers are a good option for data recovery. This is especially true when you consider the inconvenience it saves in the event of an information catastrophe. It is crucial to have a secure and safe place to store your information away from your main business server.

Most data recovery is painless. In the rare event that offsite servers do crash, the servers (offsite servers), have already backed up data to their drives. This makes it possible to use an offsite server as a backup and recovery method.

Independent drives are another effective way to backup your business data. Terabyte drives can be purchased at a discount store or in high volume stores for a very affordable price. These drives can be used for data storage and retrieval. There are many storage volumes on the market.

Depending on what data you need to run your business, you can choose to backup your data daily, weekly or monthly. However, most businesses opt for the first option. For financial data, however, a daily backup almost guarantees your data. Protecting your business data can be done with external drives.

Both offsite and external storage options can be essential. It all depends on what type of business you are. Data backup and recovery work in the same way. The only thing you should consider is whether you require a short-term or long-term solution. Also, whether the shorter-term option will be more expensive than the longer-term one.

External storage offers more storage, but comes at a recurring fee (payments), while external drive storage is usually a one-time cost (purchase cost), unless the drive fails.

Cloud Backup and Recovery

Cloud backup or online backup refers to a backup strategy that sends a copy your primary data over a private or proprietary network to an offline server. A third-party service provider (CSP), hosts the server and charges a fee depending on how much bandwidth, capacity or users are used.

Cloud data backup can help your company’s data protection strategy, without increasing the workload on your IT support staff.

Cloud backup copies data, then stores them on separate media or in a separate storage system. This allows for easy access in the event of a recovery situation. You have several options:

Backup your data directly to a public cloud. This involves writing your data to a cloud infrastructure provider.

Backup your data to a service provider. You write your data to a CSP that offers backup services in its managed storage.

Cloud-to-cloud backup is available for data that lives on the cloud using SaaS (software-as-a-service) applications. This method copies your data into another cloud.

Because of the large amount of data, it can take several days for the initial backup to upload over the network. Cloud seeding allows cloud backup vendors to send you a storage device such as a tape or disk drive to back up your data locally. The device is then sent back to the CSP. After the initial seeding has been completed, the provider will only back up your data over the internet.

Online data backup systems are usually built around client software applications, which run according to the service level purchased. For example, if you contract a CSP to backup your data daily, the application will compress, encrypt and transfer your data every 24 hours to the CSP’s servers. The CSP might only offer incremental backups after a full backup is completed. This will reduce bandwidth usage and the time it takes to transfer data.

Cloud services usually include hardware and software that you need to protect your data. Cloud subscriptions can be purchased on either a monthly or yearly basis. Cloud backup services are also popular among SMBs (small- and medium-sized enterprises) and large corporations. Cloud data backup services can be used by large organizations and companies as an additional option.

Learn more about Cloud Backup.

Backup vs. Recover

The primary difference between backup or recovery is that the former can be used to make a copy of the original data in the event of a database crash, while recovery is the process of restoring the database to its original state after a disaster.

Backup refers to a representative copy or data. It includes the essential elements of a database, such as control files and data files. Backup of the entire database is necessary because unexpected database failures can happen. There are two main backup types:

Physical Backup: This backup is a copy or a replica of the physical database files. It includes log files, control files, and archived redo logs. It’s a copy of files that store data in another location. This is the basis of the database recovery system.

Logical Backup: This is the logical backup that is created from a database. It includes procedures, views and functions. A logical backup is not sufficient to provide structural information.

In the case of a database failure, recovery allows you to return it to its original state. This improves the reliability and stability of your database because it allows you to restore the database to its original state after a sudden failure.

Log-based recovery is a great way to recover your database. Logs are records that contain transaction records. If you store your logs in stable storage, it will help you recover your database from a failure. It includes information about the transactions to be executed, transaction states and modified values. All of these pieces of information are stored in the order they were executed.

Types of data backup

Although data backup is a simple concept, it can be challenging to implement an efficient and effective strategy. Software applications for backup are designed to simplify the process of performing recovery and backup operations.

Backup is not the end goal. Backup is just a tool to help you achieve your goal of protecting your data. These are the most popular backup types:

Full Backup: This is a complete and basic backup operation. It copies all of your data to another media such as a tape, disk, or CD. A complete backup of all your data can be made in one media set. This takes longer and uses a lot more storage space, so it is often used in conjunction with a differential backup or an incremental backup.

Incremental Backup: This operation copies only the data that has changed from your last backup operation. Backup applications will keep track of all backup operations and record them. This operation takes less time and uses less storage media.

Differential Backup: This backup is similar to an incremental one. It copies all data from the previous episode, but each time it runs it copies all data that has changed since the last full backup.

Importance Data Backup and Recovery

Backups are created copies of data so that you can retrieve your primary data in case it fails. Data corruption, malicious attacks and accidental deletion can all lead to primary data loss. Backup copies can be used to quickly restore data from an earlier time point to help your business recover from unplanned events.

To prevent loss or corruption, it is important to keep a backup copy of your data. You could use a USB stick, external drive or other medium to store the additional data. Or you could use something more substantial like a tape drive or disk storage medium or cloud storage container. The alternate medium can be stored in the same place as your primary data, or it could be stored remotely. Remote storage is a good option if you live in an area where there are high chances of weather-related incidents.

To get the best results, backup copies should be made on a consistent and regular basis in order to reduce data loss between backups. The more time you wait between making backup copies, the greater chance of data loss when trying to recover from a disaster. Don’t wait for months to create backup copies. You also have the option to keep multiple copies of your data, which gives you insurance and flexibility to restore your system to a point that wasn’t affected by malicious attacks or data corrupt.

What is Disaster Recovery Backup?

Disaster recovery (DR) in IT is part of security planning. It is usually developed along with a business continuity program. It is a set of policies and procedures designed to protect an organization or business against any negative events, such as cyberattacks, device or building failures, natural disasters or other significant consequences.

Designing strategies to help your business quickly recover its data, hardware and applications for business continuity is crucial. Sometimes, it is considered part of business continuity. A thorough analysis of the business and risks involved in creating a disaster recovery plan is necessary. These steps assist in identifying the IT services that will support your company’s most important business activities. These steps also assist in setting recovery time and recovery point goals.

There are three types of disaster recovery measures:

Preventive measures: These are designed to prevent an event from ever happening.

Corrective Measures are measures that are taken to correct an existing system in the case of a negative event or disaster.

Detective Measures: These are designed to detect and discover negative events.

A good disaster recovery plan will help you maintain business continuity, even in the most dire situations. Regular checks and exercises are also a good idea to make sure that you have disaster recovery plans in place. This will ensure that all departments within your organization follow the same steps.

The Importance and Benefits of Disaster Recovery (DR).

Your organization can quickly resume mission-critical functions after a disaster. Disaster recovery is a way for your organization to do so quickly. Businesses today are more dependent and used to having high availability. However, their tolerance for downtime is significantly lower. A disaster can have severe consequences for your business, especially in today’s highly competitive market. It is possible for businesses to fail following significant data loss. Disaster recovery has become an integral part of business operations.

Two measurements are used in DR or downtime: recovery time objective (RTO), and recovery point objective [RPO].

RTO is the time it takes for an organization to retrieve its backup files and resume normal operations after a disaster. RTO, in other words is the maximum amount of downtime your organization can tolerate. Your organization cannot afford to be offline for more than two hours if its RTO is 2.

RPO: This is the maximum file age your organization can recover from backup storage in order to resume normal operations following a disaster. Your minimum backup frequency will be determined by your RPO. If your RPO is 5 hours, then your system should back up data every 5 hours.

RTO and RPO can help you choose the best disaster recovery strategies, tactics, and technologies for your company. To meet tighter RTO window requirements, you will need to ensure that your secondary data is easily accessible whenever needed.

One effective way to quickly restore data is recovery-in-place. This technology allows you to transfer your backup files to a live status on your backup appliance. It eliminates the need for data to be moved across a network. This helps protect against storage and server failures.

To prepare for a disaster, you must have a holistic approach that includes software and hardware, power and networking equipment. Testing is also required to ensure that DR can be achieved within the RTO and RPO targets. Although implementing a comprehensive disaster recovery plan can be a daunting task, the potential benefits are substantial.

What is a Disaster Recovery and Data Backup Plan?

Your business is at risk of losing its data forever, incurring unnecessary expenses and causing massive downtime without a solid data backup and DR strategy. These are five compelling reasons to have a data backup plan and DR plan.

All Data is a Target: No matter if you’re an attorney, dentist, owner of a pet shop or Fortune 500 company, your data remains vulnerable to attacks. Hackers, viruses, malware and accidents aren’t picky. They can attack your business for a variety of reasons, including acquiring sensitive data or fulfilling a vendetta.

It’s easy to lose data: Most data loss is caused by human error or hardware malfunctions, rather than natural disasters. It is easy to lose your data.

Some data is irreplaceable: You cannot recover some of your business information once it has been lost.

It’s not fun to lose data. Without it, it makes it extremely difficult for employees to work. It’s difficult to manage clients without their account status, contact information, or without your mission-critical business apps. Your restoration efforts will automatically turn into rebuilding efforts if you don’t have a solid recovery plan.

Your reputation is important: Losing data or downtime will have a significant impact on the perception of your business by other stakeholders and their relationships with you. A bad reputation can severely impact your business, especially if stakeholders are unable to trust you with their data.

Backup and Recovery Software

Database Management System (DBMS), is a software package that allows you to manage your databases efficiently and effectively. This makes it possible to properly organize your data. DBMS offers many benefits, such as the ability to store, retrieve, and manipulate data from databases. You can also perform transactions with it and protect your data. Veritas NetBackup is a good backup and recovery program.

The Bottom Line

Backup and recovery and disaster recovery do not have to be mutually exclusive. Best practices will incorporate both. To protect your business from unplanned losses, you need to have a consistent and reliable data backup and recovery plan. Data backup is only one part of a disaster recovery plan. The latter is part of a comprehensive security plan. You can ensure business continuity by preparing for the worst.

Call SpartanTec, Inc. now if need help setting up your data recovery and disaster recovery strategies for your company.

SpartanTec, Inc.
Charleston, SC 29407
843-418-4792
https://manageditservicescharleston.com/

Serving: Myrtle Beach, North Myrtle Beach, Columbia, Wilmington, Fayetteville, Florence

Top 5 Features Firewalls Must Have

Traditional firewalls are designed to protect networks from traditional cyber threats. Network firewalls need to be able to protect sensitive data and networks of organizations as the cyber threat landscape changes and grows.

We have listed the top five features below that firewalls should have:

#1. Organized Security Management

Companies must deal with the rapidly growing network security complexity. As mobile devices, cloud deployments and Internet of Things devices join traditional workstations and servers on the corporate network, most companies’ networks become more complex. Cyber threats are also becoming more sophisticated and diverse. Companies must therefore deploy, monitor, maintain, and upgrade their cybersecurity systems to manage cyber risk.

The next-generation firewall for an organization should not increase security complexity but help to reduce it. An integrated Unified Security Management (USM), firewall functionality allows an organization’s security staff to manage and enforce security policies throughout their entire network environment. This allows security personnel to keep pace with company’s digital attack surface and reduce cyber risk.

#2. Preventing Threats

Cyber threats can be accessed for longer periods of time, which will make it more costly to repair. Cyberattacks can be costly and cause additional damage in many ways. Ransomware can cause productivity loss and decreases in profits. Even simple malware can be difficult to get out of a system.

Threat prevention is key to minimising the damage cyberattacks can do to a network. An organization can eliminate the threat to its network by identifying and blocking the attack before it crosses it. A network firewall that integrates threat prevention functionality, including anti-phishing and anti-malware, as well as integration with high-quality threat information feeds, is an integral part of any organization’s cybersecurity strategy.

#3. Identity and Application-Based Inspection

The network landscape of an organization is always changing due to digital transformation efforts. To achieve certain goals, new applications are installed on the corporate network. Others are removed when they are no longer needed. Different applications require different policies. Different applications require different policies. Some applications might be of high priority traffic. Others should be blocked, throttled or managed on the network. The next-generation firewall of an organization should be able to identify the application that generates particular streams of traffic and apply application-specific policies.

Organisations can also be made up of people with different roles and responsibilities. The identity of each user should be used to determine the organization’s security policies. An organization’s employees should have access and the ability to use different applications. The managed firewall should allow policy creation and enforcement that is based on user identity.

#4 Hybrid Cloud Support

Nearly all companies use cloud computing. The vast majority of them use hybrid cloud deployments. Public and private cloud deployments have distinct security requirements. Organizations must be able enforce the same security policies in all cloud-based environments hosted at different vendors.

An organization’s next-generation firewall must include hybrid cloud support. The firewall should be easy to deploy and scale in any cloud environment. It should also allow security teams to manage all their security settings from one console. Gartner estimates that 99% of cloud security problems by 2025 will be caused by customers. This pcroblem should be avoided, and the firewall should make it easy for the company to address.

#5. Scalable Performance

Cloud-based infrastructure has been adopted by many organizations due to its flexibility and scalability. We want to reap the benefits of both the cloud and the on-premises infrastructure. This simply means that you choose a NGFW Template in the cloud. This applies to on-premises systems, and it means that you should look beyond legacy HA clustering options.

Hyperscale refers to an architecture’s ability to scale as more users are added to it. This means that the system can seamlessly add and remove resources from the environment to create a larger distributed computing environment. To build a reliable and scalable distributed system, hyperscale is essential. Hyperscale is simply the tight integration between storage, compute and virtualization layers in an infrastructure to create a single architecture.

It can be difficult to choose the right firewall for your company. There are many options available and not all are created equal. There are many options for firewall solutions, from small gateways to large-scale solutions.

Understanding the essential features of a next-generation firewall is the first step to choosing one that will protect your network security. This guide will help you understand what features to look for when choosing a firewall. After you have identified what you are looking for, you can contact SpartanTec, Inc. so we can help you determine which firewall solution will work best for you.

SpartanTec, Inc.
Charleston, SC 29407
843-418-4792
https://manageditservicescharleston.com/

How to Protect Your Small Business from Cyber Threats

Nearly all SMBs around the globe are internet-dependent. Cyberattacks are making headlines daily. Small and medium-sized business owners (SMBs), need to recognize that cyber risk is a business risk. Although headlines often focus on large corporations or household brands, cyberattacks on small and medium-sized companies are increasing. Ponemon Institute’s recent Global State of Cybersecurity in Small and Medium-Sized Business Report found that nearly two-thirds of small business had been the victim of a cyberattack in just the past 12 months. This number rises to 76% in the United States, a 20 percent increase over three years ago.

These attacks can have severe consequences for businesses, including data loss, employee downtime, and the cost of restoring operations. Data breaches can cause reputation damage, legal damage and financial loss. A single data breach costs SMBs an average of $149,000. An attack on a small business can be fatal for those with limited resources. According to reports, 60% of small businesses have had to close down after a cyberattack.

Cybersecurity For Small Businesses

Every small business owner can take proactive measures to identify potential threats and protect company data with the help of a cyber security company. Cyber risk should not be considered a problem only for IT departments. It must also be considered as one of the most dangerous sources of risk to an SMB.

Security should be a top business priority.

A recent survey from the U.S. Small Business Administration found that 88% of small-business owners think their business is at risk of being cyberattacked. This is not surprising, given that many companies had to quickly adapt to a remote working environment due to the pandemic. Many organizations did not have the necessary cybersecurity infrastructure or training to deal with the increased risk. A recent survey of cybersecurity professionals at U.S. companies found that 20% of respondents said they had suffered a security breach due to remote workers.

Cyberattacks are becoming more common and targeted. SMB owners need to understand their business’ vulnerabilities and the resources available to them to prevent, detect, and respond to such attacks. Cybersecurity & Infrastructure Security Agency, a U.S. federal agency, assists SMBs in developing and deploying a customized cybersecurity program by providing best practices, self-assessments and a roadmap of resources. SMBs can be exposed to a wide range of cyber vulnerabilities if they don’t manage them.

Inform employees about cybersecurity.

Business owners need to raise awareness about the risks and take steps to mitigate them as part of their cybersecurity program. It’s more than just a technical conversation. It’s a strategic conversation. Employees are often the first line of defense. They can help a company with its cybersecurity efforts in many ways.

* Install software patches and updates immediately: These patches and operating system updates are essential to protect company assets.

* Protect passwords from disclosure with strong passwords: As more people work remotely and use personal devices for work, it is important that employees keep their personal and work passwords separated to minimize the chance of someone gaining unauthorized access to company data and systems. Global State of Cybersecurity in Small and Medium-Sized Business Report: 70% of SMBs reported that passwords of their employees were lost or stolen in the last year.

* Identify suspicious activity such as emails or website links coming from unknown sources. The same report found that 57% of SMB attacks were sophisticated phishing attacks. SMB owners need to help their employees understand the risks and the mitigation steps that can be taken to stop unauthorized access to company data.

Cyber insurance can help protect your business assets.

Cyberattacks are becoming more sophisticated and frequent. Business owners need to prepare for them, rather than waiting for it to happen. It is no longer about “if” but “when” a cyberattack will occur. SMB owners often purchase insurance policies to protect their business from the risks associated with running a business. These policies cover everything: workers compensation, general liability, errors, omissions, and many other things. Cyber insurance is often overlooked by business owners. Cyber insurance is a valuable tool for businesses to recover from cyberattacks or data breaches. It also pays for recovery steps such as credit monitoring, notification of affected parties, legal fees, investigation into the breach, and so on.

It is crucial to find trusted providers who have the experience and expertise to help business owners assess and quantify their risks and then create insurance policies that meet the needs of each insured. It is important to review cyber policies in detail to determine what types of attacks are covered, how much coverage is available for business continuity, and any exclusions. Although cyber insurance may seem overwhelming, small businesses have many options to make it affordable and accessible.

Cyberattacks are becoming more sophisticated and frequent. Small business owners need to take steps to safeguard their assets and data. Owners can help their business recover from data breaches and cyberattacks by understanding the risks, developing a proactive cybersecurity plan, educating employees and raising awareness about them, and protecting company assets with cyber insurance.

Call SpartanTec, Inc. now if you want to protect your small business from various types of online threats and how our team of IT experts can help your company.

SpartanTec, Inc.
Charleston, SC 29407
843-418-4792
https://manageditservicescharleston.com/

Serving: Myrtle Beach, North Myrtle Beach, Columbia, Wilmington, Fayetteville, Florence

What is Residual risk? Why Residual Risk Matters in 2021

Residual Risk is the risk or vulnerability that remains after all remediation and risk treatment efforts have been completed.

Even with a well-planned vulnerability sanitation program, there will always be residual risks.

They will always be there, so managing residual risk requires setting a threshold and then implementing programs to reduce all risks below it.

Continue reading to learn how you can identify and manage residual risks on your digital surfaces.

Why is Residual risk so important in 2021?

Because ISO 27001 regulations make it a mandatory requirement, reducing residual risk is crucial. This information security standard is part of the ISO/IEC 2700 family. It helps organizations to quantify the safety and security of assets before and during sharing with vendors.

Before sharing any data with vendors, organizations must pass a residual security screening in order to be compliant with ISO 27001.

Since President Biden signed Cybersecurity Executive Order in 2021, residual risks have been given an increased importance. Organizations are now expected to reduce residual risk throughout their supply chains to limit the impact on third-party breaches by threat actors from nation-states.

Organizations must use both attack surface monitoring solutions and residual risk assessment to meet the strict compliance requirements of ISO/IEC 27001, as well as Biden’s Executive Order.

What is the difference between Inherent Risk & Residual risk?

Inherent risk refers to the risk inherent in an IT ecosystem if there are no controls. Residual risk refers to the risk that remains after cybersecurity controls have been put in place.

Information security teams and CISOS can use inherent risk assessments to help them establish a framework for designing security controls. Inherent risk assessments are not useful beyond this high-level evaluation. Residual risk assessments are the most valuable, as they help to identify and remedy exposures before they can be exploited by cybercriminals.

Inherent vs. Residual risk Assessments

The main difference between residual and inherent risk assessments is the fact that the former takes into consideration the impact of controls and other mitigation options. The likelihood of an incident happening in a

is as expected. These definitions are essential for every assessment program.

Inherent possibility – A probability that an incident will occur in an environment without security controls.

Inherent Impact – An incident that has an inevitable impact on an environment with no security measures.

Residual possibility – The likelihood of an incident happening in an environment that has security controls in place.

Residual Impact is the impact of an incident in an environment that has security controls in place.

Effective security practices controls can make it difficult to distinguish between residual and inherent risk assessments. These results do not suffice to prove compliance. They should be verified with an independent audit.

The greater the dependence and effectiveness on existing internal controls, the longer the path between inherent and residual risk.

Learn more about residual risks assessments

How to Calculate Residual risk

Before you can create a risk management strategy, it is necessary to determine all residual risks that are unique to your digital environment. This will allow you to define your specific requirements and measure the effectiveness of your mitigation efforts.

It is difficult to calculate the residual risk within an ecosystem. The formula works at a high level as follows:

Residual risk = Inherent risk – Impact of risk controls.

To evaluate the effectiveness and efficiency of recovery plans, residual risks can be compared to risk tolerance or risk appetite. This will force an audit of all security controls in place and reveal any deficiencies that could lead to excessive inherent risks. This valuable analytics allows security teams to conduct targeted remediation campaigns and support efficient allocation of internal resources.

This calculation should be left to intelligent solutions in order to guarantee accuracy, as the modern attack surface is constantly expanding. The following process is used to calculate your residual risk profile.

Step 1: Calculate your inherent risk factor.

Calculate RTOs of critical business units

The Recovery Time Objectives for Critical Processes (RTOs) is what determines the inherent risk factor. These are those with the lowest RTOs. This means that each business unit’s RTO must be calculated first.

Learn how to calculate Recovery Time Objectives. Calculate the Potential Impact for Each RTO Category

This list should be sorted by potential business impact after the RTO for each business unit has been calculated. RTOs with lower criticality have a greater impact on organizations and are therefore more damaging

The following business impact score should be assigned to each RTO:

1 = Insignificant Impact

2 = Very Little Impact

3 = Moderate Impact.

4 = Critical Impact

5 = Catastrophic Effect

Example:

If A business unit is composed of processes 1, 2, 3 and 4 with RTOs of 12, 24 and 36 hours, respectively, a business recovery plan should be only evaluated for process 1. This is because process 1, which has the lowest RTO and is the most important business process within its business unit category, has the highest RTO.

Business unit A’s RTO is less than 12 hours. This would make it a highly critical process, and should receive an impact score of 4 to 5.

Assign a Threat Score to the Business Unit

It is then necessary to map the threat landscape for each business unit. An attack surface monitoring solution is required to ensure that vulnerabilities are detected accurately.

Each unit should be given a threat score based on its vulnerability and potential for exploitation.

The threat level scoring system works as follows: 1 = Low

2 = Minimum

3 = Moderate,

4 = Very High

5 = Critical

Calculate the Inherent risk factor of the Business Unit

The following formula can be used to calculate the inherent risk:

Inherent risk = [(Business Impact Score) + (Threat Landscape score] / 5

The resultant inherent risk score will range from 2.0 to 5.0. It can then be classified as:

Between 2 and 3, which is the lowest level of inherent risk

Between 3 and 3.9 = Moderate inherent danger

Between 4 and 5, – High inherent danger

Step 2: Identify acceptable levels of risk

Each organization’s regulatory compliance requirements will determine the acceptable risk levels. All acceptable risks must have minimal impact on revenue, business objectives and service delivery.

How to define acceptable levels of risk

Each asset must be identified as having acceptable risks. A comprehensive inventory of assets can make this a daunting task. This acceptable risk analysis framework will help to distribute the effort and speed up this process.

The acceptable risk analysis framework can help you achieve this. All assets should be identified using digital footprint mapping. Each asset or group of assets should be assigned to a owner. Identify the assets’ current and possible vulnerabilities. Quantify the probability of these vulnerabilities being exploited. The following formula can be used to calculate the risk of each asset:

Risk = Likelihood x Impact

Where: – The probability of a vulnerability, exposure, or threat is what we call the likelihood.

– Business criticality is the key to impact.

The acceptable level of risk should be expressed as a percentage. Acceptable risk = 20% if the inherent risk factor is lower than 3.

The inherent risk factor should be between 3 and 3.0 = 15% acceptable risk (moderate risk tolerance).

A range between 4 and 5 is considered an inherent risk factor. This equals 10% (low-risk tolerance).

The higher the percentage, the more stringent the cybersecurity risk management requirements. The higher the level of cybersecurity risk control, the greater the chance of recovering from a cyberattack.

This formula calculates the maximum risk tolerance:

Maximum risk tolerance = Inherent tolerance percentage x Inherent danger factor

The final risk tolerance threshold can be calculated as follows: Risk tolerance threshold = Inherent danger factor – Maximum risk tolerance.

Example:

The corresponding inherent tolerance for risk is 15% with an inherent risk factor 3 The maximum tolerance for risk is

3 x 15% = 0.45

The risk tolerance threshold is now:

3.45 – 0.45 = 2.55.

To be considered as mitigating controls, they must have a combined capability of 2.55 or more.

These risks are more costly than their business-related consequences.

Even with the best solutions, there will always be new risks that go beyond the threshold. For example, the risk of data leakage.

These risks can be mitigated by a dynamic, whack-amole management style. This involves quickly identifying new risks that exceed the threshold and pushing them down with appropriate remediation actions. It is important to keep residual risks below the acceptable risk threshold as long as possible.

Step 3: Assign Weights to All Mitigating Controls.

All controls that help to protect a recovery plan need to be given a weight according importance. The most important controls are:

Recovery strategy – Also called the Incident Response Plan.

Recovery exercises – The amount of experience required to test the recovery strategy

Other controls that are common include: Training and awareness for cyber incidents

Third-party risk analysis

Data leak detection and remediation.

Based on your Business Impact Analysis, (BIA), assign a weighted score to each mitigation control.

To determine your overall mitigating state, add the weighted scores of each control.

Step 4: Calculate your residual risk.

Completing the residual risk formula requires you to compare your overall mitigating state number with your risk tolerance threshold.

If your mitigating state number is equal or greater than the threshold for risk tolerance, you are considered to be within the tolerance range.

If your mitigating state number is less than your risk tolerance threshold, you are considered to be outside your tolerance range.

A lower result means that it will take more work to improve your business’s recovery plan. The reverse is true: the better your recovery plan, the greater the results.

Call SpartanTec, Inc. now if you need more information about residual risk and managed IT services.

SpartanTec, Inc.
Charleston, SC 29407
843-418-4792
https://manageditservicescharleston.com/

Serving: Myrtle Beach, North Myrtle Beach, Columbia, Wilmington, Fayetteville, Florence

Understanding The Basics of Cybersecurity

Cybersecurity is important. Cybersecurity is important in 2021. Cybersecurity is essential because it protects all types of data from theft or damage. These include sensitive data, protected health information (PHI), personally identifiable information (PII), and personal information.

Your organization is vulnerable to data breaches and can’t be protected without a cybersecurity program. Cybercriminals will find you irresistible targets. Global connectivity and the use of cloud services like Amazon Web Services to store sensitive information is driving both inherent and residual risk.

The risk of your company being the victim of a successful cyberattack or data breach is increasing due to the widespread poor configuration and sophistication of cybercriminals. Cybercriminals are smarter than traditional cybersecurity solutions and can now be relied on by business leaders.

Cyber attacks can strike at any level of an organization. Your staff must be educated about basic social engineering scams such as phishing, ransomware attacks (think WannaCry), and other malware that can steal intellectual property and personal data. Businesses of all sizes cannot ignore cybersecurity, thanks to the GDPR and other laws. Businesses of all sizes are frequently affected by security incidents, often making the news and causing irreparable reputational damage. We have created a post to help you understand cyber security and the various elements that cybercrime can cause. Cybersecurity is something you need to be concerned about.

What is Cybersecurity?

Cybersecurity refers to the process or state of protecting computer systems, networks and devices from cyber attacks. Cyberattacks are a growing threat to sensitive data. Attackers use new methods powered with social engineering and artificial Intelligence to bypass traditional security controls. The truth is that technology is becoming more important to the world. This dependence will only increase as new technology is introduced. Our connected devices will be able to access our Wi-Fi and Bluetooth networks. Intelligent cloud security solutions are needed to protect customer data and promote strong passwords.

You can read our complete guide to cybersecurity here. Cybersecurity is becoming more important. Our society is technologically more dependent than ever before, and this trend is not slowing down. Social media accounts now allow anyone to see data leaks that could lead to identity theft. Cloud storage services such as Dropbox and Google Drive now store sensitive information, including social security numbers, credit card information, bank account details, and bank account details. It doesn’t matter if you are a small business, an individual or a large multinational corporation, you depend on computers every day. This is combined with the increase in cloud services, poor security, smartphones, and the Internet of Things, and you have a multitude of cybersecurity threats that weren’t possible a few decades back.

Even though the skillsets are getting more similar, we need to know the difference between cybersecurity or information security. Cybercrimes are being addressed by governments around the globe. The GDPR is an excellent example. This has caused data breaches to be more publicized by requiring all EU-based organizations to: Communicate breaches; Appoint a Data Protection Officer; Require consent from users to process data. Anonymize data to protect privacy.

The European trend toward public disclosure is not restricted to Europe. There are data breach laws in every 50 states, but there is no federal law that governs data breach disclosure in the United States. Commonalities include the requirement to notify affected persons as soon and as promptly as possible. The government must be notified as soon as possible. California was the first state in 2003 to regulate data breach disclosures.

It required businesses or individuals to notify the affected parties “without unreasonable delay” as well as “immediately after discovery”. Victims may sue for as much as $750, while companies could be fined up $7,500. Standards boards such as the National Institute of Standards and Technology have released frameworks to assist organizations in understanding their cybersecurity risks and improving cybersecurity measures. Cybercrime is on the rise. Cybercrime is growing at an alarming rate, with information theft being the most costly and lucrative segment. Cloud services are a major driver of increasing identity information being exposed online. It’s not the only target. It is possible to disrupt or destroy industrial controls that control power grids and other infrastructure.

Cyberattacks can also be used to steal identity. They may attempt to alter or destroy data to create distrust within an organization or government. Cybercriminals are getting more sophisticated and changing the targets they choose, how they impact organizations, and their attack methods for different security systems. Ransomware, Phishing, and Spyware are the most common forms of cyberattack. Social engineering is still the best. Poor cybersecurity practices and third-party vendors that process your data are another common attack vector. Vendor risk management and third party risk management are crucial.

The Ninth Annual Cost of Cybercrime Study by Accenture and Ponemon Institute found that the average cost of cybercrime has increased by $1.4 Million to $13.0million over the past year, while the average number of data breaches has risen by 11 percent to145. Information risk management is more important than ever. Data breaches could include financial information such as bank account details or credit card numbers, personally identifiable information (PII), protected health information (PHI), personally identifiable data (PII), trade secret, intellectual property, and other targets for industrial espionage. Data breaches can also be called unintentional data disclosure, cloud leak, information loss, or data spillage. Cybercrime is also growing due to the distributed nature of the Internet, cybercriminals’ ability to attack targets beyond their jurisdiction making it extremely difficult for police to enforce laws. The ease and profitability of dark web commerce and the proliferation of mobile devices.

What is Cybercrime’s Impact?

Cybercrime can cause damage to your business in a variety of ways. Economic Costs: Theft of corporate information, theft of intellectual property, disruptions in trading, and the cost of fixing damaged systems. Reputational Costs Loss of customer trust, loss of future customers, and poor media coverage. Regulatory Costs GDPR, and other data breach laws, could result in your organization being subject to regulatory sanctions or fines. No matter the size of your business, you must ensure that all employees are aware of cybersecurity threats and how they can be mitigated. Regular training should be provided and a framework that can be used to help reduce the likelihood of data breaches or leakage. It is difficult to assess the costs of security breaches, both the direct and indirect ones, due to cybercrime’s complexity and difficulty in detection. Even a small security incident or data breach can cause significant reputational damage. Consumers expect more sophisticated cybersecurity measures in the future.

How to Protect Your Organization Against Cybercrime

There are three steps you can take to improve security and reduce the rdata bisk of cybercrime. Educate staff Human error was responsible for 90% of all data breaches in 2019. However, this worrying statistic has a silver lining. The majority of data breaches could be prevented if staff were taught how to recognize and respond to cyber threats. These educational programs would increase the value all cybersecurity solutions investments as it would stop staff from knowingly bypassing costly security controls in order to facilitate cybercrime. Protect your sensitive data. Invest in tools such as firewalls to limit information loss, monitor third-party risk, and assess the risk of fourth-party vendors. Continuously scan for data leaks and credentials. If left unattended data leaks could allow cybercriminals to gain access to sensitive resources and gain access into internal networks.

It is important to have a data leak detection solution that can monitor leaks in the third-party network. Data breaches of 60% or more occur through compromised third parties. It is possible to prevent most data breaches by shutting down vendor data leaks. As part of a cyber security risk assessment strategy, companies should stop asking “Why is cybersecurity important?” and instead ask “How can I make sure my cybersecurity practices are adequate to comply with the GDPR” and “protect my business from sophisticated cyberattacks.”

Is your business at risk of data breaches?

SpartanTec, Inc. Charleston SC protects your business against data breaches and improves network security by monitoring the security status of all your vendors. SpartanTec, Inc. Charleston SC offers third-party data leak prevention that can be trusted to a team cybersecurity professionals to speed up security program scaling. Click here to test the security of your site to get a free instant security score now.

SpartanTec, Inc.
Charleston, SC 29407
843-418-4792
https://manageditservicescharleston.com/

Serving: Myrtle Beach, North Myrtle Beach, Columbia, Wilmington, Fayetteville, Florence