Data Protection Archives - Thrive https://thrivenextgen.com/category/data-protection/ NextGen Managed Services Provider Tue, 12 Mar 2024 11:40:23 +0000 en-US hourly 1 Minimize Your Cyber Risk with Incident Response & Remediation https://thrivenextgen.com/minimize-your-cyber-risk-with-incident-response-remediation/ Tue, 12 Mar 2024 11:40:23 +0000 https://thrivenextgen.com/?p=26505 From phishing and spoofing to malware and identity-based attacks, cyber threats pose a significant financial risk to organizations of all sizes and industries. Unfortunately, most SMBs and even mid-market enterprises do not have sufficient cybersecurity…

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From phishing and spoofing to malware and identity-based attacks, cyber threats pose a significant financial risk to organizations of all sizes and industries. Unfortunately, most SMBs and even mid-market enterprises do not have sufficient cybersecurity resources to face off against the more sophisticated, automated attacks currently being deployed against them day after day.

A lot of attention goes to technology and services that form the corporate cybersecurity perimeter, but these days, it’s a question of when, not if, a successful attack will happen. For small to mid-sized businesses, pairing a strong defensive cybersecurity posture with a robust incident response and remediation (IR) plan can help mitigate the hefty costs associated with breaches, attacks, and other security events while minimizing downtime and reputation damages.

Understanding Cybersecurity Incident Response and Remediation

Cybersecurity incident response and remediation refers to the process of identifying, containing, mitigating, and recovering from security breaches and successful cyber attacks. It involves a coordinated effort by an organization’s IT and security teams to minimize the impact of the incident and restore normal operations as quickly as possible.

Why is Incident Response and Remediation Important?
  • Minimize Damage and Downtime: A swift, well-executed incident response plan can help minimize the damage caused by a cyber attack and reduce downtime, limiting financial losses and preserving the organization’s reputation.
  • Compliance and Regulatory Requirements: Many industries are subject to regulations and compliance mandates that require them to have robust cybersecurity infrastructure in place, including incident response and remediation plans. Failure to comply with these regulations can result in hefty fines and legal repercussions.
  • Preserve Customer Trust: A cybersecurity incident can erode customer confidence in an organization’s ability to protect their sensitive information. A prompt and transparent response can help mitigate this damage and demonstrate a commitment to security.
  • Identify Weaknesses and Improve Security Posture: Incident response and remediation efforts provide valuable insights into the organization’s security posture. Analyzing the root cause of incidents and identifying vulnerabilities can enable businesses to strengthen their defenses and prevent future attacks.
  • Legal and Reputational Risks: Cybersecurity incidents can expose organizations to legal liabilities and damage their reputation. Having a well-documented incident response plan can help mitigate these risks by demonstrating due diligence in addressing security incidents.
Having the Right IR Plan for Your Business

Working with a specialized, outsourced IT service provider like Thrive can ensure that your business is getting the coverage it needs while being able to focus on business goals and other critical matters. Thrive’s experienced advisors and cybersecurity incident response team work with your IT staff to strategize and execute the best plan for your organization.

Thrive’s Incident Response & Remediation services include:

  • Pre-Incident Planning: Thrive security experts engage with subscribed clients to ensure that they have an approved incident response plan, an asset inventory prioritized based on business impact and a backup strategy for critical systems
  • Incident Response Tools: Upon working together, an incident response agent is installed on systems prior to an incident. These advanced tools ensure potential threats are contained faster and provide high value forensic artifacts.
  • Compromise Assessment: Thrive conducts an automated compromise assessment during onboarding to identify current threats that may impact systems
  • Prioritized Incident Management: Users can report an incident with a 15-minute response time guaranteed from the Thrive SOC to begin threat assessment and scoping

After the initial assessment, Thrive will quickly provide a remediation proposal so that security analysts can jump into action to remove the threat. Thrive engineers work simultaneously to begin restoring services as the environment is secured.

A cybersecurity incident response and remediation plan is a critical component of a comprehensive cybersecurity strategy. By having a well-defined incident response plan in place, organizations can respond in real time to minimize the impact of security incidents, preserve customer trust, and safeguard their operations against evolving cyber threats. Investing in proactive cybersecurity measures today can help businesses mitigate the risks of tomorrow’s cyber threats. 

To learn more about Thrive’s Incident Response and Remediation service, click here.

Contact Thrive today to learn more about how your business can prevent cyber attacks and be prepared for any risk that may come your way.  

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Why the Right MSP Matters for Your Portfolio Companies https://thrivenextgen.com/why-the-right-msp-matters-for-your-portfolio-companies/ Fri, 26 Jan 2024 18:58:28 +0000 https://thrivenextgen.com/?p=26397 When it comes to a portfolio company’s operational efficiency, the right technology decisions and investments can lead to long-term success. One of the biggest strategic choices is how to handle the IT functions of their…

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When it comes to a portfolio company’s operational efficiency, the right technology decisions and investments can lead to long-term success. One of the biggest strategic choices is how to handle the IT functions of their business. Building an in-house team to cover all aspects of technology – from cybersecurity and Cloud to business enablement and innovation – is difficult in today’s competitive hiring landscape. Even if there was enough skilled and experienced talent to go around, the pressing problems of today (e.g. data breaches, user issues) often take precedence over the activities that build value. 

That’s why partnering with the right Managed Services Provider (MSP) for IT outsourcing has become popular for private equity companies and their portfolios. Choosing to work with an MSP isn’t solely about ensuring smooth IT operations; it’s a strategic move that can amplify the company’s growth while better protecting it from cyber threats and compliance issues. The right MSP becomes an invaluable partner, influencing the efficiency, scalability, and competitive edge of the portfolio company in the market.

The Significance of Choosing the Right MSP

Today, technology serves as the backbone of operations across a wide breadth of industries. A reliable MSP conducts the seamless integration of technology into the fabric of a company’s operations. From Cloud computing and cybersecurity to data management and IT infrastructure, the right MSP provides the expertise and support necessary to navigate both the digital and business realms effectively.

One of the core reasons why the right MSP matters for a portfolio company is efficiency. A proficient MSP optimizes processes, enhances productivity, and mitigates risks, allowing businesses to focus on their core competencies without being bogged down by technological complexities.

Moreover, a strategic MSP is not just a service provider but a partner invested in the success and growth of the company. They bring industry insights, technological advancements, security, scalability, and cost-effective solutions to the table, ensuring the company remains agile and competitive.

Thrive’s Strategic Partnerships with PE

The role that the right MSP plays in the success of portfolio companies is well understood at Thrive. Our approach to delivering private equity IT services goes beyond conventional service delivery; we immerse ourselves in understanding the unique needs, challenges, and growth aspirations of each portfolio company.  Our POD-based approach to service delivery means that each company works with experts who not only know the technology but also know their business and their industry. 

The Thrive Difference:
  • Tailored Solutions and Services: There is no such thing as a one-size-fits-all solution. Thrive crafts company-specific strategies and solutions, ensuring strong protection and efficient operation. Our PE service offerings include:
    • EBITDA Optimization – Providing cost-efficient managed services
    • Portfolio Investment Assessments – Due Diligence reports, pre & post deal
    • Integration – Helping to strategically combine acquisition assets and realize synergies
    • Risk Management – Closing Security Gaps, building Disaster Recovery Plans, and adding 24×7 global coverage
    • Digital Transformation – Modernizing the IT Infrastructure & improving business processes
    • Sale Transition – Assisting with transition plans and helping achieve maximum ROIs
  • Proactive Support and Scalability: Our proactive approach means we anticipate needs before they arise. We ensure scalable solutions that grow with the company, avoiding technology bottlenecks when it comes to cybersecurity, Cloud, or collaboration services. 
  • Thrive’s Expertise: Thrive’s experts offer 24x7x365 protection through the online Security Operations Center, prioritizing robust infrastructure security measures, adherence to regulatory requirements, and more. 

The right MSP isn’t just a service provider; it’s a strategic ally for portfolio companies, propelling them toward growth, efficiency, and sustained success. Thrive’s commitment to tailored solutions, cutting-edge technology, proactive support, and cybersecurity expertise ensures that portfolio companies have the right tools to navigate the next obstacle.

Choose Thrive and pave the way for unparalleled success for your portfolio companies. Contact us today to learn more about how Thrive can empower your entire PE portfolio through a strategic MSP partnership.

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The IT Security Skills Gap Is Real: Here’s How to Fix It https://thrivenextgen.com/the-it-security-skills-gap-is-real-heres-how-to-fix-it/ Tue, 19 Dec 2023 15:45:05 +0000 https://thrivenextgen.com/?p=26248 Technological advancement has ushered in unparalleled opportunity alongside unprecedented risk. As businesses confront increasingly sophisticated cyber threats, the scarcity of qualified cybersecurity professionals mimics that evolution. In 2023, 54% of organizations experienced a skills shortage…

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Technological advancement has ushered in unparalleled opportunity alongside unprecedented risk. As businesses confront increasingly sophisticated cyber threats, the scarcity of qualified cybersecurity professionals mimics that evolution. In 2023, 54% of organizations experienced a skills shortage in tech. With that, the need for robust cybersecurity measures managed by an equally qualified team has never been more critical.

What Is the IT Security Skills Gap?

The IT security skills gap refers to the disparity between the demand for cybersecurity expertise and the available pool of qualified professionals. Rapid technological advancements constantly create new vulnerabilities, demanding a workforce equipped with up-to-date skills to counter emerging threats. Unfortunately, the pace of skill acquisition often lags behind the evolving threat landscape.

As a business looking to succeed in 2024, it’s imperative the following are performed in-house to mitigate the looming skills gap:

  • Upskilling Your Workforce: Invest in continuous training programs for existing employees. By upskilling your workforce, you empower them to stay updated on the latest cybersecurity trends and techniques to eliminate gaps. 
  • Boosting Employee Retention: Retaining skilled cybersecurity professionals is crucial. Creating a positive work environment, offering career growth opportunities, and acknowledging their contributions through incentives and recognition can bolster retention. 
  • Cultivating a Culture of Security: Fostering cross-departmental collaboration encourages a company-wide emphasis on cybersecurity, establishing a culture of continual learning and collective responsibility. This approach alleviates the burden on the IT department alone, creating an environment where cybersecurity concerns are comprehensively understood and addressed across various departments. Plus, since it’s estimated that 85% or more of breaches are caused by human error, more informed and better-trained employees should lessen the burden on IT staff.
How Thrive Empowers Businesses

While the IT security skills gap presents a daunting challenge, businesses need not face it alone. At Thrive, safeguarding businesses against cyber threats is the core of our mission. Although a skills gap is a threat less ominous than a cyberattack, we understand the importance of a robust team of security professionals. Outsourcing IT or supplementing your existing team with Thrive ensures that the dual threat of fewer resources and more attacks is one you won’t have to worry about. Our comprehensive suite of cybersecurity services ensures your security is taken care of – fortified and always prepared for what’s next.

As an IT outsourcing partner, our 24x7x365 operations ensure there’s no lag in security readiness, giving you a global team of dedicated experts at your disposal. With our ever-evolving service offerings and highly certified professionals proactively combating threats, businesses stay ahead in the cybersecurity game, eliminating the need to play catch-up.

Businesses must work despite the IT skills gap to fortify their digital future. Contact us today to learn more about how Thrive can help.

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As In-House Resources & Expertise Dwindle, K-12 Cybersecurity Teams Continue to Outsource https://thrivenextgen.com/as-in-house-resources-expertise-dwindle-k-12-cybersecurity-teams-continue-to-outsource/ Wed, 22 Nov 2023 15:22:56 +0000 https://thrivenextgen.com/?p=26100 The education sector faces a mounting challenge: protecting sensitive data from cyber threats. As demands escalate, K-12 institutions are strategically outsourcing their security needs. Cybersecurity expertise has become crucial, making the shift towards external support…

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The education sector faces a mounting challenge: protecting sensitive data from cyber threats. As demands escalate, K-12 institutions are strategically outsourcing their security needs. Cybersecurity expertise has become crucial, making the shift towards external support not just convenient but essential.

Educational institutions are no strangers to dealing with cybersecurity threats. With a plethora of personal and financial information stored in school databases, the stakes undoubtedly are high. Unfortunately, the rapid evolution of cyber threats often outpaces the ability of an in-house team to keep up. The result? A widening gap in expertise and resources that leaves schools vulnerable to attacks that could compromise student and staff data, as well as disrupt the learning environment.

At Thrive, our expert teams take a multi-layered approach to secure an institution, preventing breaches and data threats through managed endpoint security, mail filtering, DNS filtering, and additional targeted offerings. Our goal is to make sure the right tools and processes are in place so students, teachers, and staff are set up to succeed.

What Thrive Can Do for Your Institution: 
  • Security Information and Event Management (SIEMaaS): Clients benefit from a comprehensive managed and hosted SIEM solution, delivering a service-centric IT infrastructure monitoring platform. Thrive helps minimize Capital Expenditure (CapEx), ensure adherence to rigorous compliance standards, and reap the advantages of cutting-edge security threat detection—eliminating the necessity for specialized security personnel or expensive dedicated hardware on-site.
  • Autonomous Penetration Testing: Thrive provides flexible options for Autonomous Penetration Testing, offering both one-time evaluations and recurring quarterly assessments tailored for educational institutions. Upon completion, clients receive comprehensive reports—a Penetration Test Results report and a Fix Actions report—detailing identified risks and the necessary steps to mitigate them.
  • Vulnerability Scanning & Assessment: Thrive’s security services are tailored to address educational institution’s heightened risk of vulnerabilities, exploits, and security breaches by evaluating and documenting network and software gaps. Supported by 24x7x365 Security Operations Centers, our Vulnerability Scanning and Assessment service uncovers potential security weaknesses, assisting in devising actionable plans to remedy and minimize emerging threats.
  • Disaster Recovery as a Service: Thrive delivers IT business continuity solutions aimed at reducing data loss and swiftly restoring vital systems, particularly in the face of threats such as ransomware. Our services safeguard against disruptive events that could significantly impact daily operations in and out of the classroom, ensuring educators’ access to essential records and information even during critical system downtimes.

Outsourcing IT offers cost-effective solutions that, with the help of seasoned experts, adapt to emerging threats swiftly and without disruption. As in-house resources and expertise become increasingly scarce in the face of escalating cyber threats, K-12 institutions can rely on Thrive’s Cybersecurity Solutions.

Partnering with Thrive fortifies the defenses of educational institutions, allowing them to focus on their primary mission of providing quality education to their students. The future of K-12 cybersecurity lies in collaboration, adaptability, and the strategic embrace of external support. Contact Thrive today to learn more about how our cybersecurity solutions can help you. 

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Membership Has Its Privileges: Why Cybersecurity Is Critical for Credit Unions https://thrivenextgen.com/membership-has-its-privileges-why-cybersecurity-is-critical-for-credit-unions/ Fri, 17 Nov 2023 17:40:00 +0000 https://thrivenextgen.com/?p=26076 Safeguarding member data within credit unions transcends a mere legal obligation; it’s an essential cornerstone of building trust. Members place implicit trust in credit unions to protect their financial information and elevate data security to…

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Safeguarding member data within credit unions transcends a mere legal obligation; it’s an essential cornerstone of building trust. Members place implicit trust in credit unions to protect their financial information and elevate data security to a paramount level of importance. This commitment to security is pivotal for valued members and the broader interests and prosperity of the credit union itself.

As online banking and digital transactions surge in popularity, credit unions find themselves confronted with the constant and looming threat of cybersecurity breaches. The year 2022 alone witnessed a staggering 70% increase in fraud within credit unions. This upward trajectory is not only due to the surge in online activity but is also fueled by the relentless evolution of cybercriminal tactics.

Hackers and cybercriminals continually refine their skills and adapt their methods, making it essential for credit unions to stay ahead of the game. This places sensitive member data at risk and possesses the potential to inflict lasting damage upon the credit union’s reputation and ability to serve.

Credit unions are bound by legal and ethical obligations to protect member data. Regulations from the National Credit Union Association (NCUA) mandate stringent data protection measures to ensure information safety and good practices within federal credit unions. Failing to comply with these regulations can lead to severe penalties, including hefty fines and legal consequences.

The Impact of Diligent Data Protection for Credit Unions:
  • Member Trust: Beyond legal repercussions, when members know their data is safe, they’re more likely to engage in digital banking services. Trust is the cornerstone of any successful credit union, and robust data protection practices are instrumental in building and maintaining this trust. Members who trust their credit union are more likely to invest in additional services, leading to increased revenue and growth opportunities.
  • Protecting Intellectual Property and Financial Assets: Data breaches often compromise member information as well as sensitive internal data, including intellectual property and financial assets. Credit unions invest significant resources in developing unique services and strategies. Protecting these assets from cyber threats ensures the credit union maintains its competitive advantage in the market.
  • Promoting Financial Stability: The financial stability of a credit union depends on its ability to mitigate risks effectively. A data breach can lead to financial losses, impacting the credit union’s stability and growth prospects. By investing in robust cybersecurity measures and a proactive recovery plan, credit unions safeguard their financial stability, ensuring they can continue to provide quality services to their members.

Safeguarding member data emerges as more than a regulatory necessity; it is a strategic imperative that underpins the very essence of credit unions. By prioritizing data protection, credit unions honor their legal obligations and fortify member trust. Simultaneously, they shield invaluable internal information, ensuring the longevity and strength of their financial stability. 

Thrive, committed to empowering credit unions, offers cutting-edge IT solutions tailored to the unique challenges of this digital age. Our comprehensive suite of cybersecurity solutions both secures data and optimizes business opportunities, enabling credit unions to service their clients with confidence. 

Credit unions must recognize that in today’s fast-paced world, data protection is not just a responsibility; it is an indispensable element ensuring sustained success and continuity. Reach out to Thrive today, and discover how our expertise can safeguard your credit union’s sensitive data and maintain member trust. 

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The Top 10 Advantages of Thrive’s ServiceNow-Powered Platform https://thrivenextgen.com/the-top-10-advantages-of-thrives-servicenow-powered-platform/ Mon, 16 Oct 2023 17:42:22 +0000 https://thrivenextgen.com/?p=25975 The role of Information Technology (IT) has never been more critical. To meet the growing demands of organizations, Thrive’s platform, powered by ServiceNow, works to empower businesses across multiple industries to revolutionize their IT processes,…

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The role of Information Technology (IT) has never been more critical. To meet the growing demands of organizations, Thrive’s platform, powered by ServiceNow, works to empower businesses across multiple industries to revolutionize their IT processes, drive efficiency, and unlock untapped potential. 

The integration of ServiceNow into Thrive’s solutions revolutionized the platform, removing manual error from the equation entirely. By harnessing the robust capabilities of ServiceNow, the Thrive Platform empowers clients with enhanced service accessibility and precise insights into their environments. Simultaneously, it revolutionizes the way IT is consumed, putting a strong emphasis on self-service solutions.

Overall, ServiceNow allows for a structured approach to designing, delivering, managing, and improving the way IT is used, ensuring that it meets business goals and delivers value. Here are 10 key aspects of the power of IT service management (ITSM) for businesses:

  1. Improved Service Quality: Implementing a proven ITSM platform, like ServiceNow, standardizes processes and procedures; leading to increased efficiency, cost savings, and an overall enhancement of the employee and client experience. With streamlined processes and reduced manual efforts, employees can focus more on core business activities, improving productivity.
  2. Enhanced Customer Satisfaction: ServiceNow places a strong emphasis on aligning IT services with business needs and objectives of its customers. This alignment ensures that services are delivered in a way that not only meets, but often exceeds customer expectations. Satisfied customers are more likely to become repeat customers and provide positive referrals, contributing to business growth and success.
  3. Business-IT Alignment: ServiceNow’s ability to align IT services with customers’ business objectives is a game-changer. They ensure that technology supports the business strategy effectively, leading to more informed decision-making and better prioritization of IT investments based on business needs.
  4. Better Decision-Making: Data-driven insights and reporting are at the core of ServiceNow’s capabilities. By providing valuable information to business leaders, ServiceNow enables informed decision-making. It helps organizations understand trends, optimize resource utilization, and identify areas for improvement, driving smarter, more strategic choices.
  5. Standardization and Consistency: ServiceNow establishes standardized processes and procedures for managing IT services. This consistency ensures that services are delivered uniformly across the organization, maintaining a high level of quality and reliability. It reduces the risk of errors and ensures that IT operations run smoothly.
  6. Innovation Enablement: Innovation is the lifeblood of any successful organization. ServiceNow lays the groundwork for that innovation by optimizing resource management. This efficiency frees up valuable resources, allowing businesses to focus on strategic initiatives and foster a culture of continuous improvement and innovation.
  7. Improved Communication and Collaboration: ServiceNow’s collaborative features facilitate better communication and teamwork among various departments and teams within an organization. This promotes a more cohesive and efficient work environment, where employees can collaborate seamlessly to achieve common goals.
  8. Integration Capabilities: ServiceNow offers robust integration capabilities with other enterprise systems, ensuring seamless connectivity and data exchange between different applications and tools within an organization. This enhances efficiency and data consistency across the board.
  9. Real-Time Analytics and Reporting: ServiceNow empowers organizations with real-time analytics and reporting capabilities. This allows businesses to gain valuable insights into trends and performance metrics, enabling them to make data-driven decisions that can drive continuous improvement.
  10. Asset Lifecycle Management: From procurement to retirement, ServiceNow offers comprehensive tracking and management of assets. This capability ensures that organizations have full control over their assets, optimizing their lifecycle and maximizing value.

At Thrive, we understand the transformative power of strong ITSM. ServiceNow has emerged as a game-changing solution for businesses seeking to elevate their IT service management and, by extension, their overall performance. With its emphasis on improving service quality, enhancing customer satisfaction, aligning business and IT, and enabling innovation, ServiceNow empowers organizations to truly excel in the digital age.

Learn how your business can leverage the ServiceNow-powered Thrive Platform’s comprehensive suite of tools and capabilities to revolutionize your IT service delivery. Contact Thrive today and schedule a Thrive Platform demo.

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Your Back-to-School Guide to FERPA and Student Data Privacy https://thrivenextgen.com/your-back-to-school-guide-to-ferpa-and-student-data-privacy/ Tue, 10 Oct 2023 15:18:47 +0000 https://thrivenextgen.com/?p=25968 Maintaining your students’ data privacy and keeping your own records secure should be at the top of your checklist for this school year. Educational institutions are a prime target for cyber attacks, with 2,691 data…

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Maintaining your students’ data privacy and keeping your own records secure should be at the top of your checklist for this school year. Educational institutions are a prime target for cyber attacks, with 2,691 data breaches, affecting nearly 32 million records, and should be prepared to mitigate any risks from bad actors and maintain compliance with the Family Educational Rights and Privacy Act (FERPA).

What is FERPA and Why Does it Matter?

FERPA is a federal law in the United States that was enacted in 1974 to protect the privacy of student education records. FERPA applies to all educational institutions that receive federal funding, which includes most public and private K-12 schools, colleges, and universities.

The main purpose of FERPA is to give parents and eligible students – students who are 18 years or older or attending a post-secondary institution – certain rights regarding the privacy of their educational records.

FERPA is important in maintaining the confidentiality of educational records and ensuring that students’ privacy is respected and safe. Ensuring the confidentiality of your student records in a landscape where attacks are a constant threat should be top-of-mind for any IT department. Thrive offers cybersecurity services tailored to fit the needs of schools and their staff and students. Thrive’s Managed Endpoint Security and Response service, powered by Fortinet’s EDR platform, provides real-time security with incident response capabilities.

Beyond data breaches from cyber criminals, Thrive’s managed IT services can help schools maintain FERPA compliance and safeguard against:

  • Third-Party Risks: Educational institutions will often use third-party services or vendors for various purposes, such as cloud storage or educational software. If these third parties don’t adequately secure the data they’re handling, it can expose student information to potential breaches.
  • Phishing Attacks: Cybercriminals may target school employees or students with phishing emails to trick them into revealing sensitive information. This includes login credentials or other personal data that could compromise FERPA compliance.
  • Ransomware Attacks: Ransomware attacks from bad actors can lock whole school districts out of their own systems and data until a ransom is paid. This can greatly disrupt operations and potentially expose student records.

Thrive understands the evolving needs of students, educators, and parents. Our goal is to make sure the right tools and processes are in place so all parties involved are set up to succeed. Being prepared for the school year will help keep your students’ data safe and focused on learning and growing in the new year. Contact Thrive to learn how we can help you keep your education environment secure.

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Top 3 Insights from the Fortinet Ransomware Global Research Report https://thrivenextgen.com/top-3-insights-from-the-fortinet-ransomware-global-research-report/ Fri, 06 Oct 2023 14:41:19 +0000 https://thrivenextgen.com/?p=25932 The threat of ransomware looms heavily over organizations of all sizes and industries. Fortinet recently conducted a comprehensive survey involving 569 cybersecurity leaders and decision-makers worldwide to gain insights into their perspectives on ransomware. The…

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The threat of ransomware looms heavily over organizations of all sizes and industries. Fortinet recently conducted a comprehensive survey involving 569 cybersecurity leaders and decision-makers worldwide to gain insights into their perspectives on ransomware. The findings from the 2023 Global Ransomware Report provide valuable insights into the evolving risk of ransomware attacks and how organizations are responding to this growing threat. 

As attacks increase in volume and intricacy, executives are reprioritizing their security efforts. Of those surveyed, 91% expect increased security budgets in the coming year to invest in technologies and services that further safeguard their networks from a potential attack. As budgets are adjusted to better address the largest concerns, it’s imperative we understand ransomware and its effect on the protection of our data.

We have pulled the top 3 key insights from the report, detailing how ransomware interacts with our digitized society and what you can do to mitigate the risk that comes with it. 

  • Concerns vs. Preparedness

One of the most striking findings from the survey is the stark disconnect between organizations’ concerns about ransomware and their perceived level of preparedness. Over 80% of respondents expressed “very” or “extreme” concern about ransomware, yet an almost equal number, 78%, believed they were “very” or “extremely” prepared to defend against such attacks. This discrepancy marks a significant red flag.

Despite organizations’ confidence in their readiness, a staggering 50% of respondents admitted to falling victim to ransomware attacks in the previous year. This raises critical questions about the effectiveness of their preparations. It’s evident that many organizations need to reevaluate and potentially bolster their cybersecurity strategies. 

  • The Growing Sophistication of Ransomware

Ransomware attacks have been around for decades, but their threat level continues to rise. Financially-motivated cybercrime accounted for a significant portion (74%) of incidents in 2022, with 82% of these crimes involving ransomware or malicious scripts. While year-over-year growth in ransomware attacks slowed in 2022 compared to the previous year, the frequency of attacks is still increasing.

One reason for this increase is the maturation of Ransomware-as-a-Service (RaaS) operations. These operations have become more selective, targeting organizations capable of providing larger payouts. Cybercriminals are spending more time conducting reconnaissance to identify lucrative targets, leading to higher ransom demands.

As a result, 50% of respondents said that adopting advanced technologies powered by artificial intelligence (AI) and machine learning (ML) ranked among their top three priorities. Investing in advanced technologies like AI and ML for faster threat detection is paramount in this rapidly escalating situation. Additionally, Internet-of-Things (IoT) security and next-generation firewalls (NGFWs) are areas where organizations plan to increase their investments.

  • Where Technology Can Help: Integration and Consolidation

Enhancing security strategies is vital, but the manner in which it is accomplished holds equal significance. As discussed in the report, simply adding tools to an already overloaded toolbox is insufficient in mitigating an organization’s vulnerability to ransomware attacks. An increasing proportion of those surveyed (45%) say they have resorted to a blend of security platforms and individual point products, while 36% continue to buy standalone “best-of-breed” solutions. Consequently, security teams find themselves managing individual products deployed over time and struggling with the challenge of making these components function cohesively. Such manual procedures can impede a security team’s capacity to access crucial data promptly and respond effectively when faced with a ransomware incident.

As a result, those who reported adopting a “best-of-breed” approach were the most susceptible (67%) to falling victim to ransomware attacks, whereas those who streamlined their vendor portfolio by consolidating onto a small number of platforms, supplemented by point products, were the least vulnerable (37%). As findings like these continue, organizations are increasingly opting to reduce the array of individual point products in favor of a more streamlined approach. The survey findings underscored this shift, with 99% of respondents emphasizing the effectiveness of integrated solutions or a comprehensive platform in their efforts to thwart ransomware attacks. With the overall organization, its people, and the technology behind this process, the alignment of these players leads to the most effective defense against ransomware. 

To enhance their security posture, organizations should focus on investing in advanced integrated technologies, strengthening incident response plans, and prioritizing employee cybersecurity awareness training. Only by addressing the multifaceted challenges of ransomware attacks, including people and processes, can organizations effectively protect themselves in this increasingly hostile digital landscape. Contact Thrive to up your security and bolster your confidence in data protection against ransomware.

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Everything You Need to Know about DDOS Attacks and Prevention https://thrivenextgen.com/ddos-prevention-5-tips-you-should-know/ Sat, 22 Jul 2023 14:13:48 +0000 https://thrivenextgen.com/?p=24756 Distributed denial of service (DDoS) attacks can be catastrophic for any business, organization, or institution. DDoS cyber attacks can force a business into downtime for up to 12 hours, leading to a potentially substantial loss…

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Distributed denial of service (DDoS) attacks can be catastrophic for any business, organization, or institution. DDoS cyber attacks can force a business into downtime for up to 12 hours, leading to a potentially substantial loss in revenue. In a recent 2022 security survey from Cox BLUE, it was reported that the average cost of falling victim to a DDoS attack is between $20,000 – $40,000 per hour.

No business can afford to be unprepared for such a debilitating attack. Having DDoS prevention methods in place as part of your cybersecurity services can save your business valuable time and money. So how can you stop DDoS attacks? Learn more about them below as well as 5 of the best ways to protect your business from their damage.

What is a DDoS Attack?

A distributed denial of service (DDoS) attack operates like its name implies; it’s a form of cyber attack that disrupts connectivity or network services to deny service to users. Attacks generally feature tools, such as a bot, that overwhelm the network with repeated signals until it can no longer process genuine requests from users.

Hackers frequently target critical services such as web services and platforms that are often used by large businesses, banks, governments, and educational institutions. It is imperative that high-risk industries develop DDos prevention methods and implement the right tools to mitigate attacks. There are multiple forms of DDoS attacks. Some common examples include:

  • Volumetric Attacks: The prevalent type of DDoS attacks involves the use of botnets, which inundate network ports, rendering them incapable of handling genuine traffic and user requests. These bots generate fake traffic directed at all accessible ports, effectively blocking them and hindering the normal flow of legitimate traffic. Consequently, websites crash, displaying errors to potential customers.
  • Amplification-layer Attacks: Instead of attacking the entire victim’s network, perpetrators focus on specific user-facing applications. They create substantial traffic using HTTP and HTTPS protocols, mimicking the typical patterns of traffic these applications normally experience.
  • Protocol Attacks: (protocol fragmentation attacks) Aim to disrupt data transfer and connection verification protocols. Attackers send malformed and sluggish pings, causing the network to expend significant resources attempting to validate these requests. Consequently, the network becomes overwhelmed, rendering it incapable of responding to genuine requests.

While they differ in how they inflict damage, all three approaches can attack a victim on multiple fronts to completely overwhelm their infrastructure and applications.

The History of DDoS Attacks

Cyber-attacks are not a recent development. The first DoS attack took place in 1974, orchestrated by a curious 13-year-old boy in Illinois. Exploiting a vulnerability in the then-new “ext” command, he managed to simultaneously shut down 31 University of Illinois computer terminals. In the 1990s, Internet Relay Chat fell victim to basic bandwidth DoS attacks and chat floods. However, the first significant DDoS attack occurred in 1999, when a hacker utilized the “Trinoo” tool to incapacitate the University of Minnesota’s computer network for 2 days. Subsequent attacks laid the foundation for the larger and more widespread cyber-attacks prevalent today.

One of the largest examples of a DDoS attack was on June 1, 2022, on a Google customer. The target was hit with a series of HTTPS DDoS attacks, peaking at 46 million requests per second. Which, to put into perspective, compares to “receiving all the daily requests to Wikipedia (one of the top 10 trafficked websites in the world) in just 10 seconds.” The customer, Cloudflare, announced it had stopped the largest HTTPS distributed denial of service (DDoS) attack ever recorded at 26 million requests per second, surpassing a previous-record attack of 17.2 million requests, which at the time was almost three times larger than any previous volumetric DDoS attack ever reported in the public domain. The hackers, who utilized the Mēris botnet, used over 5,000 source IPs from 132 countries to launch the attack, with the top 4 countries – Brazil, India, Russia and Indonesia – contributing about 31% of the total attack traffic.

Named after the Latvian word for “plague,” the Mēris botnet operators typically send threatening emails to large companies asking for ransom payments in exchange for an end to their DDoS attack. If the DDoS attack victims don’t pay the ransom, the hackers use their botnet in attacks that start small and gradually grow as a way to pressure victims into paying. For several months, Mēris was the largest DDoS botnet on the internet, breaking the record for the largest volumetric DDoS attack twice in 2021, once in June, and then again in September.

What Happens During a DDoS Attack?

Cybercriminals perform their DDoS attacks by sending out malicious code to hundreds or even thousands of computers, instructing each one to send requests to a single organization. This is usually accomplished through tools, such as a botnet. The botnet can be a network of private computers infected with malicious software that is controlled as a group, without the knowledge of each individual owner.

Why Have DDoS Attacks Increased?

If you are not concerned about DDoS attacks yet, you should be. The last year has seen a significant rise in the amount of DDoS attacks, and there is no evidence that they’ll decrease anytime soon. Implementing DDoS prevention methods and best practices is crucial to mitigate these increasing attacks.

The annual Distributed Denial of Service (DDoS) Insights Report from Zayo Group Holdings, Inc. found that DDoS attacks in the first half of 2023 were up 200% from 2022. Activity increased nearly four-fold from Q1 to Q2 in 2023, which is attributed to increased automation in the digital world.

As more organizations adopt internet-connected devices, cybercriminals see the opportunities for DDoS attacks, which may explain the rise. The more companies integrate unsecured Internet of Things devices without the right cybersecurity precautions or DDos prevention tools, the more they place themselves at risk and contribute to the rise in DDoS attacks.

5 Tips for DDoS Attack Prevention

Prevention is the best medicine, and this couldn’t be more true for DDoS attacks. Prepare your organization with the following tips to avert a devastating DDoS attack.

1. Organize a DDoS Attack Response Plan

Don’t be caught blindsided by DDoS attacks; have a response plan ready in case of a security breach so your organization can respond as promptly as possible. Your plan should document how to maintain business operations if a DDoS attack is successful, any technical competencies and expertise that will be necessary, and a systems checklist to ensure that your assets have advanced threat detection.

Additionally, establish an incident response team in case the DDoS is successful and define responsibilities, such as notifying key stakeholders and ensuring communication throughout the organization.

2. Secure Your Infrastructure with DDoS Attack Prevention Solutions. 

Equip your network, applications, and infrastructure with multi-level DDoS protection strategies. This may include DDoS prevention management systems that combine firewalls, VPN, anti-spam, content filtering, and other security layers to monitor activities and identify traffic inconsistencies that may be symptoms of DDoS attacks.

If you’re looking for DDoS protection by leveraging cloud-based solutions, many providers allow for advanced protection resources for additional charges. Other options allow for businesses to go “full cloud,” entrusting sensitive data with a reputable cloud provider that offers heightened security protocols, both virtual and physical.

3. Perform a Network Vulnerability Assessment.

Identify weaknesses in your networks before a malicious user does. A vulnerability assessment involves identifying security exposures so you can patch up your infrastructure to be better prepared for a DDoS attack, or for any cybersecurity risks in general.

Assessments will secure your network by trying to find security vulnerabilities. This is done by taking inventory of all devices on the network, as well as their purpose, system information, and any vulnerabilities associated with them, and including what devices need to be prepared for upgrades or future assessments. Doing so will help define your organization’s level of risk so you can optimize any security investments, and employ DDoS prevention methods in your organization.

4. Identify Warning Signs of a DDoS Attack.

If you can identify the symptoms of a DDoS attack as early as possible, you can take action and hopefully mitigate damage. Spotty connectivity, slow performance, and intermittent web crashes are all signs that your business may be coming under attack from a DDoS criminal. Educate your team on signs of DDoS attacks so everyone can be alert for warning signs.

Not all DDoS attacks are extensive and high-volume; low-volume attacks that launch for short durations are just as common. These attacks can be particularly nefarious because they are more likely to go under the radar as just a random incident rather than a potential security breach. Low-volume DDoS attacks are likely distractions for damaging malware; while your IT security staff is distracted by a low-volume attack, malicious software like ransomware can infiltrate your network.

5. Adopt Cloud-Based Service Providers. 

There are several benefits to outsourcing DDoS attack prevention to the cloud.

Cloud providers who offer high levels of cybersecurity, including firewalls and threat monitoring software, can help protect your assets and network from DDoS criminals. The cloud also has greater bandwidth than most private networks, so it is likely to fail if under the pressure of increased DDoS attacks.

Additionally, reputable cloud providers offer network redundancy, duplicating copies of your data, systems, and equipment so that if your service becomes corrupted or unavailable due to a DDoS attack, you can switch to secure access on backed-up versions without missing a beat.

Are you interested in the security of a predictable cloud provider and protection from DDoS attacks? Don’t hesitate to contact the experts at Thrive to learn more about our cloud services. And if you intend to go it alone? Remember that the next time you see an influx of traffic signaling a banner day for business, you may be facing a DDoS attack.

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Top 5 Observations from the 2023 Verizon DBIR https://thrivenextgen.com/top-5-observations-from-the-2023-verizon-dbir/ Tue, 11 Jul 2023 14:50:22 +0000 https://thrivenextgen.com/?p=25725 In 2023, it’s imperative to know what your business is up against in order to begin securing your data and ensuring the success of your business. With 83% of breaches involving financially motivated external actors,…

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In 2023, it’s imperative to know what your business is up against in order to begin securing your data and ensuring the success of your business. With 83% of breaches involving financially motivated external actors, 74% involving a human element of social engineering attacks, errors, or misuse, and 50% (double of last year) of those social engineering attacks being pretexting incidents, it’s been time for organizations to pay attention and get ahead.

In the rapidly evolving landscape of cybersecurity, these stats are not just numbers but an indication of the rising severity of cybercrime. Staying ahead of the latest threats and vulnerabilities is paramount for organizations. The recently published Verizon Database Breach Investigations Report (DBIR) provides valuable insights into the importance of fundamental security measures. 

Below we will detail the 5 most important observations from the report and how the right cybersecurity services can assist organizations in addressing current and potential security failures; including the significance of unique passwords, multi-factor authentication (MFA), user training, timely patching, and more.

  • Combatting Business Email Compromise and Ransomware

Verizon’s DBIR reveals a concerning rise in Business Email Compromise (BEC) attacks, with a nearly 50% increase compared to the previous year. Protecting your organization starts with addressing the basics. Thrive offers comprehensive security solutions that enable the implementation of strong passwords, MFA, and user training programs to enhance resilience against BEC attacks and ransomware.

  • Prioritizing Timely Patching and Software Bill of Materials (SBOM)

The report emphasizes the importance of prompt patching, especially in the context of vulnerabilities like the Log4j vulnerability. Verizon highlights the significance of having a Software Bill of Materials (SBOM) to expedite vulnerability identification. Thrive’s advanced patch management system enables organizations to stay ahead by proactively addressing vulnerabilities. Our services offer enhanced response time and risk reduction associated with vulnerabilities.

  • Strengthening Security with Multi-Factor Authentication (MFA)

Stolen credentials and vulnerabilities account for almost 24% of breaches, as highlighted by Verizon’s report. Implementing MFA is crucial in safeguarding user accounts. Thrive offers a robust MFA framework, supporting various authentication factors, including password security, biometrics, and hardware tokens. By leveraging MFA, organizations can fortify their security defenses against credential theft and significantly reduce the risk of successful cyberattacks.

  • Cultivating a Culture of User Awareness and Training

End-user training plays a vital role in combatting cyber threats. Verizon emphasizes the need to educate users on identifying phishing and social engineering attempts as a second line of defense if and when systems fail. Thrive enables end users to have power over their data,  equipping employees with the knowledge and skills to recognize and mitigate potential threats. By fostering a culture of cybersecurity awareness, organizations can empower their workforce to be the first line of defense against cyber attacks.

  • Embracing Proactive Patch Management

Verizon’s report highlights the persistent challenge of delayed patching – with an average delay of 49 days, organizations of any size can’t risk that type of security gap. Thrive emphasizes the importance of a standardized patch cycle to ensure timely remediation of vulnerabilities. By leveraging our Vulnerability Management Solutions and patch management capabilities, organizations can proactively address vulnerabilities, reducing the window of opportunity for cybercriminals to exploit weaknesses.

The 2023 Verizon Database Breach Investigations Report re-iterates that while the flashy attacks attract the news organizations, the basics of using unique passwords, forcing users to use MFA, and training users to spot phishing and social engineering attacks will go a long way to protect your organization. As the threat landscape continues to evolve, Thrive stands ready to help companies go back to the basics while also being a trusted partner in navigating where to turn next in your security journey, such as an AI-enabled cybersecurity mesh architecture. Contact Thrive to set up a consultation and learn more. 

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