We often share news and statistics on cybercrime with you, not because we want to scare you, but because staying informed is your first line of defense. So, when we say that incidences of hacking and data theft are still increasing, we also want to stress that new and better security measures are being rapidly developed in response.
For example, the 2017 Annual Cybercrime Report from CyberSecurity Ventures predicted that cybercrime will cost the world $6 trillion annually. That’s double the amount from 2015 ($3 trillion).
Meanwhile, according to Ponemon Institute, the global average cost of a data breach is $3.62 million.*
These figures are indeed alarming, but the crisis has prompted leaders in the data security industry to work even harder to study the best methods of preventing hacking and breaches. What they have consistently found is that a model called Zero Trust Networking offers the most promise.
Zero Trust is exactly what it sounds like. Most traditional security methods work a bit like a castle with a moat around it. We tend to assume that everything on the outside is bad, everything on the inside is safe, and the castle walls and moat will keep out the bad guys.
However, that approach, while effective in many cases, has not completely eliminated cybercrime incidences. Some of the most infamous data theft incidents have happened because once a hacker did manage to get inside those “walls”, they could move about the “castle” with relative ease. Picture a cybercriminal managing to swim the moat or scale a wall. Then once inside, doors to every room are left unlocked.
To address that problem, the Zero Trust model employs technologies such as network segmentation, multi-factor authentication, analytics, encryption, scoring and file system permissions. Policies allow users the least amount of access they need in order to accomplish any particular task.
In other words, even your invited guests (and especially anyone who sneaks in) are not allowed a “key” to every room of your castle.
The bottom line is that hackers and thieves are getting more sophisticated, forcing business owners to step up their security measures accordingly. Even if your system and network may have been considered “safe” years ago when it was first installed, you must make sure that your security matches up against today’s cybercrime tactics.
For more information on Zero Trust, or network security in general, give us a call at 888-RING-MY-TECH. We can help you assess your security needs, and decide upon a strategy that is right for your business.
*2017 Data Breach Study, Ponemon Institute
