Today's reality is that mid-sized enterprises are the most attractive target for cybercriminals. Although these breaches may not capture the headlines, they are growing in frequency for a number of reasons.
Mid-sized enterprises struggle to match the advanced technologies and measures of larger enterprises.
With the rise of mobile and cloud connections, mid-sized enterprises no longer have a simple on-premise network.
As we've seen in the past, cybercriminals view mid-sized enterprises as a prime entry point into a larger target.
Designed with you in mind, eSentire Managed Detection and Response™ service makes security measures typically reserved for large enterprises accessible by mid-sized enterprises. From regulatory demands, evolving cyber threats and internal policy pressures, you face a unique set of challenges in protecting your business. Our award-winning team of security experts simplify the complexity of cybersecurity, so you can focus on managing your business.
The cost of a cyber breach extends beyond the initial loss of intellectual property, sensitive data or financial assets. In many cases, the cost to recover from a breach, including restoring networks and reputation damage, can be much greater.
As diverse as the financial services industry is, one fact remains: cybercrime is at an all time high. The financial services industry topped the global list for cost of cybercrime in 2015(1). Cybercriminals are more sophisticated than ever and regulatory boards are starting to put a spotlight on the requirement for preventative measures. At eSentire, we are a global leader in helping financial service firms navigate the complexities across the industry including:
Authorities such as the FBI have warned law firms that they are at greater risk for cyber attacks. This concern is echoed in a 2015 study with 98% of law firms indicating they believe attacks are increasing in frequency(2). A growing tactic for a cyber attacker who is targeting a company’s valuable information is to go after their outside counsel. This presents a growing challenge for law firms to protect this privileged data with limited IT resources and a history of automated defenses.
Mid-sized enterprises are the fastest growing target for cybercriminals because they expect them to have less protection and see them as a gate into larger organizations. Each enterprise faces a unique set of challenges including what they need to protect and who is likely to target it. All areas of the business including IT, legal, operations and executives should have a vested interest in cybersecurity. Given the diversity, a one-size-fits-all approach with layers of automated technology is not an appropriate solution.
The motivations for cyber attackers to target biopharmaceutical companies are diverse. With a complex process from discovery and trials to marketing and distribution, there is a host of valuable intellectual property and medical data you need to protect. Given the high expense, the risk of losing intellectual property from a cyber breach at any point of the process can be disastrous. Biopharmaceutical companies also have the added pressure to comply with national regulations regarding patient data relating to clinical trials.
With cybercriminals on a quest for high value medical records used for identity threat and fraud, healthcare organizations are faced with a significant security challenge. Since 2009, one third of Americans have had their information compromised(3). Healthcare organizations also face the challenge of moving to digital, complex systems while navigating some of the strictest regulations.
Cyber breaches in the extractive industry often capture headlines given the critical nature of the business. A recent study indicated that 82% of oil and gas companies have experienced an increase in cyber attacks in the past 12 months(4). Cyber attackers are motivated by financial and intelligence gain as well as causing embarrassment or reputational damage. Breaches are likely to increase as integrated digital systems merge operational and information technologies in the extractive industry, allowing for automation, analytics and remote access.
As the transportation industry continues to move operations and communications to the web, the risk of a cyber breach becomes greater. A cyber breach could result in service delays, injuries, damage or loss of customer data. Establishing a cybersecurity posture that enables transportation companies to remain open, operational and safe at all times is critical.
(1) Ponemon Institute, Cost of Cybercrime Study, 2015
(2) ALM Legal Intelligence, Cybersecurity and Law Firms, 2015
(3) Department of Health and Human Services, 2015
(4) Tripwire Survey: Energy Survey, 2015