Seminar Recap: A Layered Approach to Security

The average monetary cost of a malware attack for an organisation is $2.4 million as well as 50 days in time due to significant disruptions to daily business operations (Accenture). What’s more is that attacks and breaches cause irreparable reputational damage which cannot be accounted for.
 
With cyber-criminals and the threat landscape growing increasingly sophisticated businesses must keep up by updating their security practices. Investment firms are encouraged to have a layered approach to strengthening networks carrying sensitive client information, to keep malicious hackers at bay.

Last week, we explored a layered approach to security with investment firms at our breakfast briefing event in London. Today’s blog article will roundup the key components investment firms are advised to deploy for a bulletproof security stance, as shared by our Director of International Technology together with industry experts at the event. 

How to Approach Cybersecurity?

• Identify key areas pertaining to your security
• Formulate a plan – Written Information Security Plan (WISP), Incident Response Plan (IRP), Business Continuity Plan (BCP)
• Look at what you need to protect physically and logically
• Consider a central source for identity management for effective access controls

Layering Security to Make the Most of Your Tools

• Auditing and logging who accessed your system, when they did this and what they did will help you to restrict unauthorised network access.
• Patch management is recommended to prevent exploits such as system crashes and security breaches. Not implementing this layer can result in huge opportunities for spoofing, fraud and theft of large amounts of credentials.
• Using applications and services that span all infrastructure types is a basic tip for firms to maintain a robust infrastructure.
• Regular penetration testing, encryption assessments, firewall checks and the use of access management controls can help you avoid intrusions.
• Dark web monitoring can provide an immediate notification upon discovery of any stolen firm data or credentials being advertised for public sale. 
• Managed phishing and training is a good practice to cover the human element of security for your business. 

Take a look at our events page and join us for upcoming seminars, webinars and industry events we’re attending in your region!