In a recent study, Ponemon found that cybercriminals cost businesses an average of $607,745 per incident. Stealing and selling data has become so commonplace on the dark web that there are standardized rates for different kinds of data. Experian recently worked on compiling a price list for stolen data. They found that nonfinancial login credentials could go for as low as $1, while financial data such as payment service logins, like PayPal, can fetch quite a nifty sum of up to $200. Medical records remain one of the most lucrative types of data that can be sold on the dark web. The asking price for medical records could be as high as $1,000. While the number of buyers and sellers on the dark web is constantly on the rise, in this article we will talk about how businesses can prevent the data from ending up in the dark web in the first place and mitigate the impact if it is found there. For additional resources and information on securing your enterprise data from the dark web, please consider reaching out to IT security Vancouver.
8 Top Tips to Secure Your Business Data from the Dark Web
Make Use of Threat Monitoring and Response Tools
Theft of personal information is happening everywhere. Identity thieves are becoming more sophisticated and creative with their hacks. They use an array of methods to steal your information, including keystroke logging or forcing the user into clicking on dangerous links in emails that take users away from trusted sources. User passwords, credit card numbers and other sensitive information can be vulnerable if not used properly or stored securely. The best way to protect data from hackers is to use adequate threat monitoring and response tools. These tools can notify users whenever there’s an attempted hack on any user account-related data so users have the time to react quickly before hackers can commit transactions on their account. It’s also important for users to always maintain up-to date malware protection.
User Awareness and Training about Dark Web
Training your employees to act and react with company security in mind is a great way for you ensure that they’re aware of potential threats. With phishing simulations, regular cybersecurity trainings can help everyone understand how best to protect data from latest cyber-attacks while also staying up-to date on all necessary changes within the field of cybersecurity.
The key to keeping your networks safe is having the right security tools in place. You can use multifactor authentication, single sign-on, password vaults and a host of other security features for added protection of all valuable data on enterprise systems.
Engage a reliable Managed IT Services Provider
It’s not always easy to find the right balance between ensuring you have all of your technical and security needs met and taking on too much while meeting business objectives. The best way out for organizations is to engage the services of a reliable Managed IT Services team such as IT Support Vancouver for end-to-end management of all technical and security concerns including 24/7/365 network monitoring.
Make use of a password manager
Password managers are great for generating complex, unique passwords that users can use and change periodically for access to enterprise systems. They go a long way to eliminate the problem of password reuse and weak password configurations. In combination with two-factor authentication or another forms of security measure, such as Captchas, companies can make it adequately difficult/ frustrating for cybercriminals to break into the company network.
Have a proactive approach towards data security
The financial impact of a data breach can be devastating. Malicious actors may have ample opportunity to gather intelligence before launching an attack targeting business systems. Companies stand a better chance of mitigating the damage if they manage to spot the breach soon and act on it as soon as possible after the compromise. Criminals are often patient and can sit on breached data for a year or more before they decide to leverage it for financial or other gain. The best way to protect your company from such data breaches is to use an external credential and identity monitoring system. This will help you mitigate the risk of stolen data as you become aware the moment the thieves try to sell or share your data on the dark web.
Protect employees’ personal data
The danger of a hacked email account extends much beyond the company. It could potentially endanger an employee or their family members and other connections. Companies should consider extending their security nets from personal accounts onto larger networks to protect employee data within reasonable limits.
Automate security processes including account takeover prevention
Automation can be the key to success when it comes to securing your business network. The more you can automate anything that relies on humans for intervention, the better off your company can be in terms of time invested, quicker response times and productivity. Companies should try to automate as much of their security and account protection process as possible. One proactive measure could be to scan the web automatically for credentials and compare them against known compromised material. Automation using technology such as SpyCloud’s ATO Prevention software can help companies ensure that they can counter ever-evolving threats. Other security tools such as Imperva’s ThreatRadar or LexisNexis’Threat Metrix make it easy for companies of any size to maintain a proper defense posture without having too many people on staff constantly monitoring everything. To find the most relevant security solutions and tools for your local business, consider reaching out to Managed IT Services Vancouver.