“The top 2024 risk cited by internal audit leaders is cyber and data security, with more than 80% of respondents not only rating this risk highly but also giving it the top spot for expected audit efforts in 2024.” –Business Wire’s 2024 Focus on the Future Report 

Stringent security regulations and changing compliance requirements have created a need for strategic cybersecurity expertise within organizations, even though many do not have the allocated resources to hire a full-time CISO. With fractional security experts, you get scalable and cost-effective solutions for your organization’s IT security needs. Having a virtual CISO available can allow businesses to streamline their security measures and strengthen their security posture against cybersecurity threats and mitigate security risks.

Utilizing a vCISO service allows companies to rest easy and be assured that their business’s cybersecurity risk mitigation plan addresses key regulations and frameworks and is optimized to meet business needs and goals. Additionally, fractional CISOs provide the following benefits:

• Expertise: Fractional CISOs typically have a broad range of experience in cybersecurity across various industries. Their expertise can help organizations navigate complex security challenges and stay updated on the latest threats and technologies.
• Flexibility: Organizations can scale their security efforts up or down based on their needs. A fractional CISO can adapt to changes in the organization’s size, structure, or security requirements without the constraints of a fixed full-time position.
• Strategic Guidance: Fractional CISOs can provide strategic guidance and assist in developing a comprehensive cybersecurity strategy aligned with the organization’s goals. This includes risk management, compliance, and incident response planning.
• Objectivity: By being an external resource, a fractional CISO can offer an unbiased perspective on security matters. This objectivity can be valuable in assessing vulnerabilities, identifying risks, and recommending solutions without internal biases.
• Training and Awareness: Fractional CISOs can assist in creating and implementing cybersecurity training programs for employees, raising awareness about security best practices, and fostering a culture of security within the organization.
• Incident Response Planning: Having a fractional CISO can aid in developing and testing incident response plans. In the event of a security incident, having a well-prepared response plan can minimize damage and downtime.
• Technology Evaluation: Fractional CISOs can assess and recommend security technologies and tools that align with the organization’s needs and budget. This ensures that the organization invests in solutions that provide effective protection.
• Risk Assessment and Management: A fractional CISO can conduct cybersecurity risk assessments, identify potential threats, and develop cyber risk management strategies to safeguard the organization’s assets and sensitive information.

Organizations need agile and effective cybersecurity solutions to stay ahead. Fractional security experts like vCISOs offer a practical approach, allowing businesses to access top-tier cybersecurity expertise without breaking the bank. By embracing this flexible “CISO as a service” model, organizations can significantly reduce risks, enhance their security posture, and navigate the evolving cybersecurity landscape with confidence. Contact Thrive today to learn more about how our vCISO services can help your organization stay ahead of cybersecurity threats.

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However, many companies who have purchased this type of insurance have learned a hard lesson in the past few years – insurers will not pay claims or renew policies unless the policyholder follows the guidelines of what’s required to protect a company’s computer network and data from attacks. 

Simply put, many businesses think that it’s enough to just purchase this type of insurance, receive a claim payment if an intrusion occurs, then return to normal operation.

Unfortunately, a cybersecurity insurance plan on its own is absolutely not enough and must be supplemented with network defense tools, employee education modules, and documented recovery plans.

Your Business’s New Homeowners Insurance

Most people who have homeowner’s insurance understand they may have to perform some preventative maintenance in order to receive a claim for any damages that may result. 

For example, an insurer might warn a policyholder that his or her property requires upgrades to its electrical system. And, if down the line there is an electrical fire, the insurer will not pay out a claim for these damages if the policyholder did not make the necessary upgrades or pull the right permits to show they were made.

It’s no different with cybersecurity insurance. Businesses have to meet certain contingencies in order to say they’ve done all they could to protect themselves from cyber-based crimes. After all, a ransomware attack or data breach is no different than a burglar entering a property and stealing a person’s most valuable possessions.

Insurance companies are not charities, and those that issue cybersecurity policies have had to pay out a lot of money in recent years, with one cybersecurity insurance specialist stating they processed more claims in the first half of 2021 than any other time period. They won’t do so anymore unless a business has done all it can to lock its doors.

Reducing the Attack Surface

Insurance companies want businesses to reduce their attack surface as much as possible – in essence, do all they can to reduce the vulnerabilities that can result in a successful cyber attack.

In the eyes of insurers, this requires companies to implement the following:

• EMAIL PROTECTION. An estimated 96% of cybercrimes happen via a phishing attack generated via email. To retain coverage, businesses must put in place multiple layers of protection to prevent a malicious email from reaching an end-user.
• TRAINING. In the event that a malicious email gets past the organization’s firewall and email filtering, companies are asked to provide frequent training for employees on what they should look out for to prevent a cyberattack, such as how to identify phishing scams.
• NEXTGEN ANTIVIRUS PROTECTION. Older antivirus protections rely on an established, and often out of date, database of known threats. Utilizing traditional antivirus software requires endpoints (ex: the laptops that employees have at home) to make required updates so that they’re referencing the most ‘up-to-date’ data. This causes a severe lag as hackers and those who write malware are often many steps ahead. The most modern antivirus software offers real-time protection and greater intelligence when scanning for malware. NextGen antivirus protection monitors traffic 24/7 for faster, more accurate recognition of potential threats. Instead of reviewing files and traffic to identify if something suspicious happened in the past, NextGen antivirus protection catches attacks as they are attempted.
• MULTI-FACTOR/2-FACTOR AUTHENTICATION. Phishing attacks require someone to give up their unique password. Companies that enable 2FA or MFA have significantly increased protection over their valuable data due to the added layer(s) of authentication needed for login. With 2FA and MFA, even if an attacker obtains a password they likely won’t be able to get the token or extra code needed to cause a successful breach. 

Plugging the Holes

IT security awareness and best practices are not just the responsibility of one person, but instead must be a focal point for an entire company. It is often overwhelming for companies without a dedicated IT team to understand what’s needed to meet the standards of a cybersecurity insurance policy, and even more of a task to deploy the preventative measures needed to stay in compliance.

Thrive’s expert team of cybersecurity professionals can help you review your policy and discuss the wide range of security options, training services, and full supervision of IT software available to keep your data protected. 

Learn more about where your company stands today by scheduling a cybersecurity risk assessment with Thrive. 

The post The Importance of Cybersecurity Insurance appeared first on Thrive.

Thrive’s Year in Review

In 2021, Thrive grew its presence and global protection reach. In the past year, we:

•   Onboarded over 100 new customers
•   Grew NextGen security by over 450%
•   Protected over 60,000 endpoints

Security Statistics

Increased security threats were felt on a global scale. Here is what we saw at Thrive:

•   900 security incidents (investigations) per month
•   30% increase in investigations month-over-month
•   Overall 30% rise in investigations

Top 3 Investigation Types for 2021:

1.   Intrusion Prevention
2.   Intrusion Detection
3.   Client VPN-related alerts

Thrive ended the year with over 1,200 customers across the US and the UK. With the increased number of high-profile cyber attacks that occurred in 2021, more attention than ever is being focused on risk mitigation and damage remediation to preserve businesses’ customer confidence and public image.

Building a cyber readiness plan that adheres to best practices can be difficult. Thrive’s managed cybersecurity solutions are deployed on its industry-leading cybersecurity platform for comprehensive support that empowers Thrive’s CISSP-certified experts to not only identify problems, but also solve them.

With an Active Remediation approach, Thrive’s security experts are empowered with the access, know-how, and trust to directly mitigate and remediate issues, keeping critical business systems and staff operational. Contact us to help you in 2022.

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Joe Peppard makes some compelling arguments in his article “It’s Time to Get Rid of the IT Department” in The Wall Street Journal. His primary suggestion throughout the piece is to decentralize IT and embed technology experts within business units because the traditional siloing of IT hinders its ability to add business value. But in the move to align with the new reality that “the business is the technology and the technology is the business”, companies still need centrally managed IT support to make sure their infrastructure is performing and secure.

Creating Common Threads
Although IT has in the past functioned on its own island of intelligence, this obsolete model no longer functions in today’s dynamic business environment.

Now, business problems more often than not require a technology-based solution. If a company’s brightest technologists are either siloed or too busy with mundane tasks like employee onboarding, password resets, or software patching, they’re not available to help where they are most needed. Having a common thread of technology expertise in every department to alleviate some of those tasks can power the elusive digital transformation many are striving for.

What Happens Without Centralized IT
Distributing an IT department to the four corners of the enterprise could leave a very big gap in service, which Peppard does acknowledge. There needs to be someone making the company-wide decisions and enforcing corporate policies, so there are not a dozen IT fiefdoms with their own management, support, and security challenges.

If one team manages tasks and tickets using Zendesk while another uses HubSpot or Excel, collaboration time and efficiency are lost by cross-referencing databases or trying to merge data. On top of functionality headaches, the organization is most likely paying for two different solutions for the same problem. Imagine differing security protocols across departments – you would not want one group implementing one vendor’s multi-factor authentication solution while the next group picks their favorite MFA provider. There needs to be someone taking a 10,000-foot view of the entire company’s IT and cyber security needs.

Filling the Void
The question becomes, how does an organization both place its technical know-how directly into business units and support a functional IT infrastructure when it is more than likely short-staffed and lacking critical skills?

The managed services approach enables companies to shift away from the traditional centralized IT organization that services the entire company. By going above and beyond what most internal IT teams can deliver in terms of 24/7/365 monitoring and support, multi-vendor expertise, and strategic thinking from virtual CIOs and CISOs, MSPs such as Thrive hold the key to a successful, secure digital transformation for organizations of all levels of technical ability.

Empowering IT to Drive Transformation
Today’s IT teams are not only reactive; they are critically proactive. They can bring some much-needed problem-solving muscle across the organization, but they just need to be unleashed from the monotony of routine IT tasks.

Not everyone has the capacity to dedicate heads in their organization to manage IT internally and drive digital transformation. Regardless of where your IT lives, they must exist to help move your organization forward. Whether your team needs a little extra support or you’d like to migrate those responsibilities fully remote, Thrive’s Managed IT Solutions or vCISO service are here to help you stay up-to-date and protected. All while you do what you do best – serve your customers.

The post Time to Get Rid of the IT Department? Not Exactly. appeared first on Thrive.

Small businesses are often found to be easier targets of cyber attacks because they often don’t have the security and fortification that larger enterprises do. Small businesses also may believe that it’s too expensive for them to become properly protected. No matter the size of the business, cybersecurity is not only necessary but can be affordable.

The loss of an individual’s data can lead to identity theft, credit fraud, ransom threats, and other unsavory actions. For businesses, this can be disastrous for the company’s brand and reputation. Once the attack is discovered, fixing it is not always as simple as canceling a few credit cards. Complete remediation of the problem is not an instant process. It takes time and resources to identify and fix all the collateral damage caused by the theft.

Healthcare facilities are a particularly vulnerable target. With attacks on healthcare facilities can come the loss of important records, malware issues with vital medical equipment, and the breach of patient privacy. Hospitals are especially susceptible to attacks, and more specifically ransomware threats, because the targeted data can literally be life saving.

No matter what the size of your enterprise, Thrive can walk you through what your business’ best options for cybersecurity are, and can help identify options for your consideration.

Who Helps with Recovery?

Insurance is the easiest, quickest way to mitigate losses from a cyber attack. Insurance against cyber attacks should be a priority, no matter the size of the business. From Fortune 500 enterprises to your local corner store, cyber insurance for a business is tantamount to fire insurance on a home. If you have insurance, you can both recoup your losses while also gaining insights from forensic services. Thrive helps support business continuity after the attack. Working in tandem with the insurance company, not only will we help identify the perpetrator, we will also help ensure your business operations continue. Thrive can help you to choose the proper security installations for your IT platform, taking into account your business and its specialized needs. We make sure any security software you currently utilize is either updated or replaced with something more effective and efficient.

How Does Thrive Help Deter Cyber Attacks?

As you may have read in our multi-part series on the Return to the Office, COVID-19 and the mass migration to working remotely from home has caused the need to adapt the cybersecurity companies utilize on a daily basis. No longer should we as businesses fortifying only one major network at the office; now we must take into account all of the different digital environments and security risks they impart upon us while employees are working from their homes, coffee shops, and other places external to the enterprise.

For employees working from home, we suggest using end-to-end protection and anti-virus software; even simple security is better than no security. We also encourage inter-business Security Awareness Training; a service Thrive provides to our clients. We will teach you what to look for in terms of suspicious activity and aid in the management of your security platform. It is also important to expect that one day you WILL be attacked. This is not to cause paranoia, but to cultivate an alert mindset when it comes to the continued protection of your network and data.

A Security-First Mindset

At its core, IT security awareness and safe practices start at the top. Leaders within your company should be sure to lead by example and communicate the importance of IT security. Creating shared “rules” to follow and raising awareness of how attacks can be initiated is a great start, along with strategies such as frequent password updates and locked screen savers.

Thrive offers multiple security options, from hands-on training to complete supervision of IT software. To learn more about what we can do for you, contact us today.

The post The True Cost of Cybersecurity Attacks appeared first on Thrive.

When conducting customer assessments our team often sees common strategies in place such as firewalls and antivirus software, but the biggest gap in most strategies is ensuring the user base is armed with the right information to proactively identify an attack before they are entrapped by it. Multiple platforms currently exist with focus on educating users on common attacks, their mechanics, cyber security vocabulary, and how to avoid accidentally assisting an attacker. Cyber-attacks result in lost revenue, added expenses, and loss of reputation in the marketplace. The best defense always starts with a strong offense. It is estimated by some firms that cyber security education alone reduces the threat of phishing attacks by more than 80%! Platforms exist today that allow user training and testing with measured results. Training programs are typically budget friendly and provide some of the highest value per dollar spent on preventing cyber-attacks.

There are many solutions for educating your employees to identify threats before they breach your network. If you have any questions or would like to speak to our consulting team, contact Thrive today.

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What Differentiates a VEC from a BEC?

VEC attacks are similar to, but potentially much more dangerous, than a typical BEC.  A VEC attack typically targets a CEO or CFO using similar methods as a BEC such as spear phishing, password spray attacks, credential stuffing, and social engineering.  Regardless of the method the goal is to gain access to the email accounts of an organization’s executives or high-level employees.  Once the account has been compromised hidden mail forwarding rules are established on the backend.  This allows a copy of every sent and received email to be forwarded to the attacker, unbeknown to the account holder.

Over a period of weeks and in some cases months, the emails are analyzed allowing the attacker to learn about customer billing cycles and typical invoice amounts. The attacker studies the exact format of emails, email signature, logos and leverages this information to create highly realistic fraudulent invoices for just the right amount at just the right time.  The fraudulent invoices are then sent a few days before payment would usually be made.  To a casual observer there is no noticeable difference between a genuine and fraudulent invoice except a subtle change to the usual payment destination.

A VEC attack is extremely effective because the fraudulent email is sent from a genuine and trusted email account matching past invoice deliveries to the letter.

Six steps to take to mitigate this threat for your organization

• Establish a security awareness training program for all employees
• Employ an email security layer that includes advanced impersonation detection techniques
• Implement proper systems oversight with logging, monitoring and alerting for email platforms
• Leverage user behavioral anomaly detection services for email access
• Enabled multi-factor authentication for email access
• Disable weak and less secure mail protocols

To learn more about these services, please contact Thrive today.

[1] Agari Cyber Intelligence Research Division

The post The Cyber Security Threat Predicted to be the Most Costly in 2020 & Six Steps to Prevent It appeared first on Thrive.

Patching is the process of repairing system vulnerabilities which are discovered after the infrastructure components have been released on the market.  Patches apply to many different parts of an information system which include operating systems, servers, routers, desktops, email clients, office suites, mobile devices, firewalls, and many other components that exist within the network infrastructure.  The number of patches which are required on a consistent basis can be overwhelming.  This is why it is necessary to devise a patch management process to ensure the proper preventive measures are taken against potential threats.

How Patch Management Works

 The methods which are used for patch management will vary slightly according to the infrastructure design for each company information system.  That said here is a general description of how patch management is typically deployed.

Most companies with large infrastructures implement automated patch management systems which reduce the requirements for manpower that would otherwise be needed for manual implementation. Other companies choose to outsource patch management to a qualified company which will perform this service from a remote location.

An automated patch management system involves the installation of a client agent that allows network administrators to control patch distribution from a web-based interface.  This type of system allows network administrators to configure the settings for patch distribution and generate log reports to check the status of patches. Patch distribution can also be set at different levels within the infrastructure to cover different applications and devices which are used to access data and information.

Consequences of Not Deploying Patch Management

 Due to the fact that the components which make up network infrastructure and information systems are not perfect when they are released on the market makes patch distribution all that much more important.  patch management is preventative and the number of vulnerabilities discovered over an extended period of time can seriously compromise the integrity and security of information.

In the event there is a window of vulnerability, a solid patch management system means a network is being consistently monitored.  This allows immediate action to be taken if a patch has yet to be released when a vulnerability is discovered.  The importance here is the prevention of what is known as a ‘Zero Day Attack’ which is an exploit that can occur while a patch is in the process of being produced to repair the vulnerability.  Attacks such as these can be minor or they can be as malicious as taking down an entire company network.

Patch Management Key Concerns

 Patch management is very critical to business operations however it also tends to be considered a responsibility of the IT department.  While this is partially true patch management within an organization’s infrastructure cannot be successful without the understanding and support of the senior management.

Instead of waiting for the issue to be addressed when a problem occurs it is important to implement and plan for patch management in advance.  The key concerns for many companies are in the number of patches and the manpower needed to deploy them.  However, new technologies along with enterprises which offer patch management services have made patch management implementation and distribution easier and more cost effective.

Patch management services can help to keep your network secure while reducing costs. Contact Thrive Networks to find out more about making patch management easier.

The post Understanding the Importance of Patch Management and How It Works appeared first on Thrive.

New data backup and recovery technologies eliminate failure risks while increasing efficiency and promoting faster recovery time.  Additionally the newer technologies and services reduce network risks that often go undetected and provide solutions that reduce storage management and maintenance costs.

Every company has different data storage requirements that depend upon the type of industry.  In order to choose the best data protection solution it is important to know what your options are and why these options are the better choice for information security management.

Hosted Cloud Services

 Cloud-based data protection is an option that many companies are using due to its accessibility, reliability, and security.  Data storage in the cloud represents an affordable solution for many businesses because it has the capability to provide the best of both worlds which is immediate access to data while enjoying the reliability and security of offsite storage. Also, most cloud service providers offer different levels of vaulting solutions to meet industry compliance and regulatory standards.

In terms of protecting your servers and workstations, a quality cloud hosting provider is capable of backing up your servers in the cloud and data which is relevant to your workstations.  If your company experiences a hardware failure or natural disaster you can quickly recover by tapping into your resources with the cloud hosting service.

Onsite Data Storage and Backup

 Some companies deploy onsite data storage  to provide easy access to data.  By storing and backing up data onsite recovery time is faster than offsite storage and you can add storage as needed.

A few of the drawbacks of onsite data storage  is your company can suffer a complete loss in the event of a fire or flood if you are not using multiple backup methods.  Also, it is necessary for someone to monitor the system and perform backups on a routine basis.  Depending upon the data workload, onsite storage can also be costly in terms of hardware and maintenance.

 Offsite Storage and Backup

 Offsite storage is offered in a variety of different methods which include tape storage, data warehousing, or data storage strategies which are configured by the company.   Offsite data storage utilizes redundant data storage which provides multiple backup copies and can be designed for storage in multiple locations.

 Although offsite data storage eliminates the possibility of human error it can be costly and bandwidth intensive when it comes to ongoing backup.  The recovery process is significantly slower than onsite storage depending upon the methods that are used for recovery.

What we have described here are the primary options that companies consider for data protection and storage.  It is important to mention that multiple backup and storage methods are commonly deployed for added reassurance in the event of a disaster.

Data protection and backup  does not have to be complex.  To discover cost effective options for data protection, contact Thrive Networks for assistance with setting up a data protection and backup strategy.

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When you apply regulatory compliance to IT, the regulations apply to two different aspects of company operations which include the internal requirements for IT and compliance standards that are set forth by external entities.  Both types of regulatory compliance affect IT company operations and can potentially restrict what a company can and cannot do.

Company Concerns with Regulatory Compliance

When it comes to information technology and security, regulatory compliance for IT can impose added costs on company operations depending upon the industry.  At the same token, the cost of not complying with regulations both internally and externally can be significantly higher in terms of fines and time invested following up on a security breach.

One of the primary issues with regulatory compliance is information security and the potential for data leaks.  Although there may be policies in place, it is necessary to ensure that employees follow the policies as well as the entire staff within a company.  This is an ongoing process and one that can lead to a high profile data breach if companies become too lax on policy enforcement.  A primary example of this is the Sony breach earlier this year which can undermine a company reputation and end up costing more in fines than it would if you followed the compliance policies.

When it comes to regulatory compliance for IT on the external level, companies that follow the regulations set forth by external organizations are more likely to survive a potential investigation than companies that neglect regulatory compliance.  Additionally, there are many benefits that come with following regulatory compliance policies which include protection of company reputation.

Issues Associated with Regulatory Compliance

In order to ensure that the proper steps are taken to meet regulatory compliance policies, it is first important to understand where the weaknesses in IT are so you know exactly what practices should be applied.  If you skip this step and then try to meet regulations and policies, it is highly likely it will cost more over the long term since the practices were not implemented correctly.

The main issue that surrounds regulatory compliance is that many companies face multiple policies and regulations with regard to IT and data storage.  This presents a challenge for most businesses, especially if the IT personnel changes frequently or over a number of years.  Some compliance regulations require companies to archive data for a specified period of time. If IT staff changes over a period of time it is easy to lose sight of data storage and retrieval processes.

How to Make Regulatory Compliance Work

The number one priority for making regulatory compliance work is assessment and evaluation.  If you do not know where the company weaknesses are in terms of IT then this makes it nearly impossible to put the best practices into action.

Once you know where the best practices should be applied there are many new tools that assist with simplifying the processes for regulatory compliance.  These are automation tools that save time and perform the necessary requirements according to schedule.  Tools for regulatory compliance are also capable of monitoring IT processes and providing reports to be used for analysis and future modifications.

The other alternative that ensures policies and procedures are carried out according to requirements is to consider using a virtualization solutions provider.  A professional solutions provider such as Thrive Networks can help your company design strategies that guarantee your business will remain in compliance both within the company and with the external organizations that audit your processes.

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