Cyberattacks are dangerously increasingly and the best strategy to stay a step ahead of threat actors is to leverage continuous security validation
Yet another high-profile cybercrime has penetrated the world’s most technologically advanced country. The ransomware attack caused the shutdown of the American oil supply Colonial Pipeline, causing disruption and creating unrest in the country. While Americans are beginning to hoard oil, cybersecurity leaders are scrambling for better security strategies and investments.
The SOCTA 2021 report claims that most cyberattacks are unreported and the actual surge of cybercrime can drastically alter the global economy. A Cybercrime Magazine report states that the global damages can breach the $6 trillion range this year.
With such dangerous predictions, IT experts find it frustrating that many organizations are still not serious about cybersecurity. The simplest security detail of passwords are not strong. A NordPass study analyzed over 15 million cyber-attacks and examined the passwords used in those organizations. The report reveals that weak passwords are one of the main reasons for cyber-attacks.
Organized crime hacking actions are one of the main reasons for the exponential increase of sophisticated attacks. Security leaders must analyze the strength of every security protocol within an organization and measure its success rate. Any protocol that provides less than the maximum possible impact can prove to be dangerous.
Merely possessing security controls is not enough anymore. The monitoring of the security solutions and analyzing their detection and prevention capabilities is crucial. Security validation must become a mandatory part of the security system. Experts recommend the implementation of Automated Breach and Attack Simulation (BAS) testing systems. It is estimated to be very effective against the complexity of threat management, lack of skilled employees, and internal complications.
Experts also suggest the MITRE ATT&CK framework in every security system. Incorporating a good cyber threat intelligence technology can help security leaders stay ahead of attackers and have a better response time. If hackers do manage to penetrate the cyber walls, the cyber intelligence will be able to detect the threat, mitigate the impact, and remediate it better.
Another compelling reason to invest in better security solutions is that third-party providers have become easy targets for bad actors. Companies must not fully trust their providers as they are not equipped with successful security systems.
Meanwhile, the biggest problem that holds back companies from investing in stronger cybersecurity systems is the lack of a heavy budget. Ironically, organizations are unable to invest much in cybersecurity at a time when cyber threats are rising exponentially. They are forced to work with a longer breach impact, lower protection, and low detection power.
However, experts find it unacceptable to compromise on security even with lowered budgets. They recommend companies to do their best by adopting the ‘do more with less’ strategy. Security executives can leverage cheaper or free of cost security solutions until funds can be arranged.
It’s high time that global security solutions are strongly encouraged. They need to be capable of detecting and preventing all cyber-attacks. In the US, a bill was introduced to upgrade cybersecurity and introduce strategies that could indicate the launch of an early warning system for cyber threats in critical organizations. Continuous automated security validation should become a mandatory element of every security system.