Tag Archives: cyber attacks

03.19.21
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Supply Chain Security Tips: Hear from South Florida’s Top Cybersecurity Consultants

Did you know a supply chain cyber attack could cost you millions?

 

Even if your supply chain operates through a third party vendor, you will be responsible for compromised data. As a result, you could face hefty fines and messy lawsuits if you don’t maintain supply chain compliance.

 

The Importance of Supply Chain Compliance

 

That’s why it’s so important for your business’ cybersecurity posture to prioritize detection, evaluation and mitigation of supply chain risks.

 

If you want to avoid a costly cybersecurity mishap, we advise that you practice ongoing supply chain risk management.

 

Below you’ll find top tips for supply chain cybersecurity from Third Power IT, providing the best cybersecurity services in Miami.

 

Supply Chain Risk Management Best Practices

 

Prevention is key when you are managing data, systems, software and networks.

 

By proactively adopting risk management practices, you will help enhance your supply chain’s security. Keep reading to learn some of these practices right now.

 

  • Security Awareness Training: Educate employees on cybersecurity so they know the mistakes to avoid. Draft an effective security awareness training program, and implement it regularly to ensure all stakeholders are on the same page.

 

  • Data Classification: Identify data, segment it according to its worth and assign security to each type of data. This will help you know your data thoroughly, which makes it easier for you to secure it.

 

  • Access Control: Grant data access to select users. With robust authentication and authorization protocols in place, you can minimize the chances of sensitive data getting compromised.
  • Authentication verifies whether the user is who they claim to be
  • Authorization verifies whether a user has access to a particular type of data

 

  • Monitoring: Monitor data consistently so you can detect threats quickly and respond to attacks right away. Evaluate relevant data to recognize suspicious activity. Pre-define acceptable behavior on the monitoring system. If breached, the system will trigger an alert.

 

  • Endpoint Protection: Secure endpoints to protect the most vulnerable part of your supply chain. Cybercriminals are skilled at identifying weaknesses within your network. In most cases, it turns out to be an end-user device on your network or even devices on a third-party partner’s network.

 

  • Patch Management: Patch security gaps so your business isn’t exposed to cyber attacks. Whenever a new patch becomes available, update software immediately.

 

  • Routine Scanning: Enable a coordinated process to test, recognize, examine and reveal potential security threats. Automate these scans so they are conducted regularly without investing a lot of time and effort.

 

  • Network Segmentation: Segment your business’ network into smaller units so you can control movement of data from one segment to another. Automate this process to restrict suspicious entities from gaining access to vital information or data.

 

  • Managed Detection and Response: Deal with cyber threats strategically with MDR, an economically feasible service that helps you with in-depth threat detection and response. Threat hunting helps you with research and analysis of vulnerabilities.

 

Adopt Supply Chain Cybersecurity Best Practices Now

 

When it comes to supply chain security, the best practices mentioned above are just the start of how to prevent security incidents. Enlisting the help of an MSP can help you stay ahead of the curve.

 

The experts at Third Power IT have the experience necessary to build walls cybercriminals can’t break. Visit www.ThirdPowerIT.com to hear more about safeguarding your supply chain from looming cyberthreats now.

 

 

 

The post Supply Chain Security Tips: Hear from South Florida’s Top Cybersecurity Consultants appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

03.12.21
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Supply Chain Compliance: Prevent A Supply Chain Cyber Attack from Happening To You

Did you hear about the recent supply chain cyber attack on multiple major airlines?

 

When an IT vendor’s passenger service system (PSS) was hacked, cyber criminals gained access to the frequent flyer data of customers all over the United States.

Now 90% of the world’s airlines are facing potential penalties for compromised customer data.

Even though the data breach was caused by a third party vendor, the airlines are still liable for this major cybersecurity mishap.

Don’t let something like this happen to you!

 

Prevent A Supply Chain Data Breach

Are you familiar with the regulations and standards governing your supply chain management obligations?

Whether your supply chain is a big or small operation, you must ensure that it isn’t the reason your business is non-compliant with the necessary regulations and standards.

Staying on top of your supply chain cybersecurity involves a great deal of continued effort, but it’s worth it.

If your business has compliance risks thriving within your supply chain, you could find yourself facing:

 

  • Financial losses
  • Loss of reputation
  • Expensive lawsuits

 

And the list goes on.

No regulator will cut you any slack for “not being aware” of prevailing or imminent risks. You will just be considered negligent.

Fulfilling your supply chain management obligations begins with being aware of the regulations and standards that govern it.

Over the next few minutes, you will understand:

  • What supply chain compliance is
  • The various forms it can take
  • How you can start protecting your supply chain now

First let’s talk about what supply chain compliance is and the many forms it can take.

 

Understanding Supply Chain Compliance

 

What is Supply Chain Compliance?

Fundamentally, supply chain compliance refers to an organization’s adherence to the established guidelines and requirements to manage supply chain risks. In addition, it pertains to your ability to meet or exceed the expectations of stakeholders.

Supply chain compliance guidelines and requirements come in many forms.

 

Forms of Supply Chain Compliance Guidelines and Requirements:

  • National, state/provincial and local or border/international regulatory requirements
  • Industry standards (e.g. ASTM & HIPAA)
  • Contractual obligations or requirements
  • Customer and non-governmental organization (NGO) expectations

Achieving, demonstrating and maintaining compliance with these multiple standards requires comprehensive collaboration with your third-party partners.

Are you ready to get started?

 

Protect Your Supply Chain With Third Power IT

Supply chain protection is a 24/7 operation. Make sure you’re fully compliant by teaming up with a trusted IT consultant that understands the ins and outs of supply chain compliance.

When you work with Third Power IT, you will get a custom cybersecurity package that fits your needs. We have experience working closely with:

  • Healthcare facilities regarding HIPAA compliance
  • Banks and investment firms regarding financial compliance
  • Schools and colleges regarding FERPA compliance

And much more

Ensure your compliance today. Visit www.ThirdPowerIT.com to get started now.

The post Supply Chain Compliance: Prevent A Supply Chain Cyber Attack from Happening To You appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

02.25.21
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Know the Risks: Insider Threats To Customer Data & Personally Identifiable Information (PII)

Is your customer data up for grabs?

 

Customer data, also known as Personally Identifiable Information (PII), is one of the most popular targets for a cyber attack. Once a hacker gains access to this information, they can steal your company’s proprietary information and your customers’ identities at the same time.

 

The repercussions of such an attack can be catastrophic for your business, especially if you’re a healthcare facility or a financial institution.

 

From legal fees and lawsuits to temporary shutdowns or permanent closures, compromised PII is never fun.

 

So, are you at risk of a PII data breach?

 

First let’s briefly discuss what PII is and how it pertains to your business.

 

What is PII?

 

PII refers to data points that can be used to identify an individual. This customer data comes in many forms, and you might be in trouble if it gets into the wrong hands.

 

  • Social security numbers
  • Mother’s maiden name
  • Tax identification numbers
  • Date of birth
  • Biometric data
  • Race & religion
  • Location data

 

What Causes a PII Data Breach?

 

According to Risk Based Security, 60 percent of customer data breaches are caused by insider threats or security threats that originate from within an organization.

 

This means that your employees and stakeholders are the primary cause of a PII data breach.

 

To make things worse, reports indicate that the number of insider incidents has increased by 47 percent over the last two years.

 

While most insider threats are unintentional, they still pose just as much risk.

 

Now that you know the main cause of a customer data breach, let’s deep dive into the potential risks that insider threats pose to PII and how you can protect your organization against such threats.

 

The Risks of Stolen PII

 

Whether you’re a healthcare facility, a financial institution, or even an e-commerce business, compromised customer data can seriously harm your operations.

 

Below we’ll break down the major risks of stolen PII.

 

  1. Reputational Damage

 

According to a study by Ponemon, 44 percent of companies believe it takes anywhere from 10 months to over two years to restore a company’s reputation after a breach. Even if you respond promptly and properly to your customers regarding a data breach, it could still result in a PR disaster and a decline in your customer base.

 

  1. Financial Loss

 

The average cost of a data breach in the U.S. is $8.19 million. Some of the consequential costs that companies find themselves paying include compensation to affected customers, fines and penalties for non-compliance with regulations such as GDPR, expenses for forensic investigations and more. On top of that, the valuation of your company could tumble as well.

 

  1. Ransomware Costs

 

A malicious insider  who gains access to your data systems can steal sensitive customer PII from your network. Once your systems are hacked, the cybercriminal can block access to your data and threaten to sell the information on the Dark Web if you don’t pay the ransom.

 

  1. Operational Standstill

 

Data breaches have the potential to paralyze your business operations. You will have to conduct a detailed investigation to determine what data has been compromised and the cause behind the breach. You will have to take steps to recover lost data, and you may face expensive lawsuits and settlements. In most cases, this will pause your business operations.

 

Now that you know the risks, isn’t it time to protect your customer data so you can avoid a data breach?

 

Protect Your PII Today with Third Power IT

Miami’s Leading Cybersecurity Consultants

 

A cyber attack can happen at any time. That’s why 24/7 data protection is so important. With cyber threats on the rise, now is the time to invest your cybersecurity.

 

But you don’t have to go about it alone. Secure your data and gain peace of mind when you work with Third Power IT, South Florida’s preferred IT consultants.

 

Set up your cybersecurity strategy today. Visit www.ThirdPowerIT.com to get started now.

 

The post Know the Risks: Insider Threats To Customer Data & Personally Identifiable Information (PII) appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

02.11.21
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Top Warning Signs & How to Prevent an Internal Data Breach

Is your business one misstep away from a cyber-attack due to an insider threat?

 

If you’ve been following our blog, then you already know what insider threats are and how they affect your business.

 

As a reminder, insider threats are security risks that originate from within an organization. Essentially, an insider threat involves someone who is a part of your business network or has access to it.

 

An insider threat can present itself in two different ways:

  1. A malicious insider — someone who intentionally steals or compromises your data
  2. A negligent insider — someone who unknowingly puts your network at risk

 

So, how can you identify insider threats before they become a bigger problem?

 

Although accurately identifying insider threats can be tricky, there are some early warning signs you can watch out for to prevent a cyber-attack.

 

Keep a keen eye out for these signs so you can recognize unusual patterns early on.

 

First let’s look at the main types of warning signs and what you should look out for.

 

There are two main types of warning signs:

  1. Behavioral
  2. Digital

 

First, we’ll look at behavioral warning signs of an insider threat.

 

Behavioral Warning Signs of An Insider Threat

 

An employee or a stakeholder could be a potential insider threat if he/she exhibits any of the following behavioral patterns.

 

  • Attempting to bypass security controls and safeguards
  • Frequently and unnecessarily spending time in the office during off-hours
  • Displaying disgruntled behavior against co-workers and the company
  • Violating corporate policies deliberately
  • Discussing new opportunities and/or the possibility of resigning

 

Now let’s take a closer look at the digital warning signs of an insider threat.

 

Digital Warning Signs of An Insider Threat

 

Some of the digital actions mentioned below are telltale signs of an insider threat.

 

  • Accessing or downloading substantial amounts of data
  • Attempting to access data and/or resources unrelated to his/her job function
  • Using unauthorized devices to access, manage or store data
  • Browsing for sensitive data unnecessarily
  • Copying data from sensitive folders
  • Sharing sensitive data outside the business
  • Behaving differently from their usual behavior profile

 

If you notice any behavioral or digital warning signs, don’t ignore them. You might be at risk of an internal data breach.

 

How to Prevent an Internal Data Breach

 

While some cyber attacks are inevitable, the government expects you to do everything in your power to prevent them. If not, you will face regulatory action.

 

In the event of a data breach, you will be audited for compliance. At this time, you will need to present documented evidence of the preventive and corrective measures you took to protect your business’s sensitive data from insider threats.

 

Here’s what you can do to protect your data now and steer clear of potential penalties in the future:

 

  • Identify, document, and o troll access to your sensitive data
  • Define data privileges for employees and stakeholders based on their needs
  • Build suitable infrastructure that monitors abnormal behavior and raises timely alerts
  • Add insider threat parameters to your regular risk assessment
  • Introduce a robust security awareness training program for all stakeholders
  • Devise a strategy to investigate a breach caused due to insider threats

 

If you take these steps, they will go a long way towards significantly securing your business from insider threats. Plus, they will show regulators that you are committed to ensuring data protection.

 

Make Data Protection a Priority Now

 

Cyber threats are at an all-time high, and you simply cannot ignore the risks.

 

Make data protection a priority and rest knowing your network is secure. Every minute you wait is another minute you risk a cyber attack. Don’t wait to set up your cybersecurity strategy.

 

Connect with the cybersecurity consultants at Third Power IT to safeguard your network now. Visit www.ThirdPowerIT.com to get started.

 

The post Top Warning Signs & How to Prevent an Internal Data Breach appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

01.25.21
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Miami IT Consultants Talk the Top 4 Internal Cyber Threats To Your Network

Is your business at risk of an insider cyber-attack?

 

Many business owners – and the IT professionals they rely on – focus on protecting their companies from external threats:

 

  • the lone hacker out for a large ransom
  • the industry competitor pilfering secrets
  • organized cyber-criminals with sophisticated phishing schemes

 

But what about internal threats?

 

The Dangers of Internal Cyber Threats

 

Some organizations fail to consider the true risks that insiders pose to their cybersecurity. But internal risks are every bit as dangerous and damaging as the external ones, even if there is no malicious intent.

 

Did you know a quarter of all cyber attacks happen because of an insider threat?

 

The 2019 IBM Cost of Data Breach survey revealed that 24% of all data breaches in the past five years were the result of negligent employees or contractors.

 

Another report, Insider Data Breach Survey, found:

  • 60% of executives felt employees who made mistakes while rushing to complete tasks were the primary cause of internal breaches.
  • Another 44% pointed to a lack of general awareness as the second most common reason.
  • 36% cited inadequate training for their organization’s security tools as a close third.

 

To drive home the full harm of insider threats, we’ve compiled four actual case studies of internal people who’ve wreaked financial and reputational damage when they got careless, or abused their knowledge and positions for personal gain.

 

Learn the top four internal cyber threats to your network now.

 

Top 4 Internal Cyber Threats to Your Network

 

Internal Cyber Threat #1: The Careless Employee

 

A report by a company’s chief security officer discovered that one of the organization’s techs was using duplicate credentials across multiple accounts and failed to set up two-factor authentication on at least two of his accounts.

 

The employee neglected to do two important cybersecurity best practices:

  1. Do not use the same log-in for more than one account
  2. Apply two-factor authentication for additional protection

 

This weak security enabled hackers to easily infiltrate the company’s network where they disabled and deleted all data backups – local and cloud. After sabotaging the organization’s backups, the hackers then installed ransomware and demanded payment. Without a usable backup, the company was forced to pay the ransom to recover its data.

 

What You Can Do

  • Set up automatic scans to check each client’s security settings on each machine to ensure that your IT security policies are being enforced.
  • Generate an automatic alert when two-factor authentication is not turned on where it should be.

 

Internal Cyber Threat #2: The Sneaky Former Employee

 

Former employees take your proprietary information with them when they leave. Unfortunately, some of them decide to appropriate that information.

 

In a case study, an engineer quit his job to start his own business that would be in direct competition with the company he left. According to court documents, the engineer hacked his former company’s server using a former co-worker’s stolen credentials.

 

Once inside the network, he was able to retrieve AutoCAD files, design schematics, project proposals, and budgetary documents – all information that could provide a competitive advantage over his former employer. The value attributed to proprietary information he stole was between $250,000 and $550,000.

 

For his efforts, the engineer was sentenced to 18 months in prison and two years of supervised release.

 

What You Can Do

  • Establish “exit procedures” for employee turn-over that includes the immediate removal of ex-employees from Active Directory.
  • Scan the network daily for suspicious log-in attempts by ex-employees and others, and generate an alert for each incident.

 

Internal Cyber Threat #3: The Compromised Third-Party Vendor

 

An “insider” doesn’t have to be located directly within your walls to become a threat to your network. Trusted third-party vendors may have enough access to your data to be unknowing conduits for external hackers and do damage to your network.

 

In one scenario, a hacker infiltrated a billing collections agency and gained access to patient information that belonged to one of the agency’s clients: a healthcare laboratory.

 

Almost 12 million patient records were compromised, including credit card numbers and other personal identifying information. A security firm that tracks compromised data found 200,000 patient payment details from the billing company for sale on the dark web.

 

Fortunately, the lab had insurance in place to cover some of the potential cost and liability as a result of the HIPAA violation.

 

What You Can Do

  • Set up internal IT security policies that limit storage of credit card and other personal identifying information.
  • Only grant access to select employees with security clearance levels.
  • Regularly scan the network for any suspicious log-in attempts and generate alerts to investigate.

 

Internal Cyber Threat #4: Software and Devices

 

Out-of-date devices and software typically do not receive critical security updates, rendering them accessible to hackers.

 

In one instance, a massive cyber attack penetrated a software vendor’s IT management systems through a legacy IP scanner tool and compromised an unknown number of end-user client servers.

 

Some clients had administrative superuser accounts created within their Windows active directory, so unidentified intruders had full access to their systems and data long before detection.

 

More than two months after the attack, the full extent of the damage was still unknown.

 

What You Can Do

  • Scan all networks daily for software that is missing the latest security patches.
  • Generate alerts for machines that need updating.

 

Protect Your Network With Third Power IT, Miami’s Most Trusted IT Consultants

 

As a reputable MSP, we understand cybersecurity and its significance to your business.

 

At Third Power IT, we provide cyber threat detection and protection that can accommodate networks of any size. Our specialized security software runs a daily check on your network and alerts us immediately when it detects potential cyber attacks.

 

Get the protection you need now. Call us at 844-677-3687 or visit www.ThirdPowerIT.com.

 

Sources:

  • Cost of a Data Breach, IBM, 2019
  • Insider Data Breach Survey 2019, egress, 2020

 

 

The post Miami IT Consultants Talk the Top 4 Internal Cyber Threats To Your Network appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

01.21.21
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Could Downtime Cost Your Business Thousands?

Are you aware of the costly consequences of downtime?

Downtime related to one cyber-attack could cost your business the equivalent of an employee’s salary for a whole year!

This 5-figure risk shouldn’t be taken lightly, especially when there are ways to prevent it from happening to you.

Before we dive into how you can prevent downtime from happening to your business, let’s quickly cover what downtime is and how it can affect you.

 

What Is Downtime In Business?

Downtime refers to the period of time when your company is offline. During this time, you don’t have access to your network. This prevents you and your employees from performing routine tasks online. As a result, your online business transactions are halted, your email is inaccessible, and you’re losing money by the minute.

No business owner wants this. Not only does it make you look unprofessional, but it also eats away at your productivity and your profits.

Keep reading to find out what causes downtime so you can prevent it from happening to you and your business.

 

What Causes Downtime?

Downtime occurs when a network connection is interrupted. That can mean a simple internet outage, or it can be more serious like a cyber attack.

One of the most common cyber threats is called a ransomware attack. If this happens to you, you risk losing a whole week of sales.

As you can see, this is a serious threat to your business. Luckily, it’s possible to minimize the risk of downtime and protect your business from cyber attacks.

Read on to discover how to minimize downtime so your business can operate as lean as possible.

 

How To Minimize Downtime

Keep your business up and running by preventing downtime from happening to you.

  • Secure your network
  • Enable data protection
  • Assess cyber risks regularly

Now you know the importance of protecting your business from downtime. But where do you start?

Luckily, you can hire experts to oversee your network management. These managed IT services will help you keep your business safe and secure.

Are you ready to get started?

 

Prevent Downtime: Invest In Network Management Now

Now that you know how much downtime can cost you, you’re most likely certain that you don’t want to experience it. But how do you keep that from happening?

 

If you don’t know how to keep the risks at bay, that’s what we’re here for!

Third Power IT provides the most trusted Managed IT Services in Miami and South Florida. If you are looking for a network management partner who understands your unique needs, you’re in the right place.

The experts at Third Power IT, South Florida’s best IT consultants, use a 3-prong approach to protect your network:

  1. Strategy
  2. Security
  3. Stability

To start designing your custom network management plan, contact us at 844-677-3687 or visit www.ThirdPowerIT.com right now.

 

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Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com