In the current digital age, hackers are a prevalent threat to our cyber network which is the foundation of our communication channels. Cyber attacks are serious issues for companies that store sensitive information about their clients, including social security and credit card numbers. Cybercrimes not only damage the reputation of businesses but also put their employees in danger of identity theft.

 

Recognizing a Cyber Attack Before it Reaches Your PC

Most people have no problem using their own judgment in identifying suspicious URLs and attachments. They understand the risks of downloading attachments and opening spam emails. But some phishing attempts are not so easy to detect. Malware could be hidden on trusted websites or redirect your page to a fake form requesting your personal information. Nowadays, even creating an account requires you to use a password containing numbers and symbols as to avoid associating with common words or phrases.

A study from the Javelin Strategy & Research, published in 2017, shows that 15.4 million US consumers experienced a cyber attack in 2016. Over $16 billion was lost due to multiple network security breaches. This also leads to time spent recovering stolen accounts of up to 20.7 million hours. It’s no surprise that large corporations encounter on average, 100 attacks each year. Unfortunately, small businesses are an easy target because they lack the resources to hire security experts, conduct a large-scale analysis of their databases, or investigate background check protocols.

 

Why Businesses Need Internal Policies for Cybersecurity

But there are ways they can counter cybersecurity risks. Since cyber attacks tend to be motivated by financial gains, small businesses can increase their security measures by staying updated on the latest scams, restricting employee access to confidential information, conducting thorough background checks on technical staff, implementing cybersecurity training programs, and evaluating IT functions when outsourcing. Increasing employee awareness is just the first step in preserving network security.

To respond quickly to web attacks, most businesses utilize cloud services to store data and handle their fast-track applications. They also encourage all employees to change their passwords every few months to make it difficult for hackers to access personal accounts. Efforts to beef up cybersecurity have been fruitless without a 24/7 monitoring system. Two types of managed services are widely used today: The MDR (managed detection and response) and the MSSP (Managed Security Services Providers).

 

What MDR Services do to Protect Small Businesses from Cyber Attacks

MDR enhances the response rate and threat detection capability for many organizations across the US. It includes features like security consulting and on-demand communication with security experts. Introducing an MDR service will improve user behavior analytics which allows businesses to inspect identified threats and gain insight into which channels were hijacked and find the source of an unauthorized access attempt. As a whole, MDR is more concentrated on threat detection so its tools are effective at guarding network gateways. In addition, MDR providers monitor the security logs and endpoint activities for signs of a security breach.

They rely on advanced analytics to alert customers of potential malware and also connect with companies to validate past cyber attack incidents. MDR should not be confused with MSSP since it differs in the event logs, compliance reports, type of communication (email or in-person), and incident response retainers. MDR vendors will implement preventative measures for businesses that can’t afford traditional managed services. Depending on an organization’s size, they might choose MDR providers that augment their current tools or add-on data and privacy regulations that meet their compliance requirements.