According to a report conducted by Verizon on the prevalence of ransomware attacks in 2022, around 25 percent of all security breaches were due to ransomware, which was a dramatic uptick from previous years. In fact, another study conducted by Sophos found that ransomware affected 66 percent of all organizations in 2022, with the FBI’s Internet Crime Complaint center receiving over 3,000 complaints about ransomware in 2021.
Across the board, cybersecurity experts predict a continued increase in ransomware attacks across all industries. Trend Micro even predicted that there will be more data extortions in 2023, with increasing attacks on small to medium-sized businesses. Because cybercriminals use ransomware to extort companies of all sizes and industries, everyone is at risk.
Unfortunately, more advanced technologies in IT systems have also improved cybersecurity threats. As a result, cybercriminals have become more and more sophisticated. This explains why experts now recommend companies follow ransomware prevention best practices, including, and especially, using a layered security approach.
What Is Layered Security?
As its name suggests, layered security is a set of security protocols and controls to prevent breach on multiple levels. The approach typically involves a perimeter defense (such as a firewall), email scanning and filtering to prevent malware, encryption, continuous monitoring, and management and support by cybersecurity experts. When selecting a cybersecurity provider for your business or brand, make sure that you speak to them about your specific needs so that they can create a tailored solution for you.
If you’re still on the fence about the importance of layered security for your business, listed are three reasons to consider.
- It Protects Your Business
Technologies are always evolving, and while integrating newer and more efficient IT system infrastructures can benefit your brand, these same technologies can be used to harm your business. Technological advances, including artificial intelligence and 5G, can potentially be double-edged swords because ultimately, criminals have the same access to these technologies as you do.
To ensure that your business has the best protection, you should consider a layered security approach. In an article published in Forbes, cybersecurity entrepreneur Shlomo Kramer believes that one-quarter of all attacks on enterprises would come from portable technology.
A layered security approach would mitigate these risks by first stopping smaller breaches through a firewall and a zero trust network access (ZTNA) model, and then detecting more serious risks through a multi-layered application and database security. Keep in mind that most layered security approaches follow the framework set by the National Institute of Standards and Technology (NIST), which details five primary functions: Identify, Protect, Detect, Respond, and Recover. Ideally, your cybersecurity layers allow you to immediately identify threats, protect yourself against them, and detect when a cybercriminal has breached your defenses so that you can instantly respond and recover.
- It’s Cost-Effective if You Use the Right Solution
The initial cost of setting up a layered security approach may make you hesitate because of the price, but the benefits you receive will significantly hasten your ROI in just weeks. Outdated security techniques make you more vulnerable to cyber risks. Keep in mind that cybercriminals work 24/7, with one generic cybersecurity attack attempted on a company every 44 seconds and one ransomware attack attempted on a business every 11 seconds.
Even the most sophisticated software cannot handle the massive breach attempts all at once. A layered security approach creates a tight-knit web to catch all types of breaches so that your company data is safe. This is especially important for businesses that deal with sensitive information.
Having updated layered security is a cost-effective solution for every business.
- It Helps Your Company Comply with Regulations
Your company has to comply with local and national laws on cybersecurity. For example, the Cybersecurity Information Sharing Act (CISA), which was passed by the United States Congress in 2015, asks private companies to share information about their cyber threats with the government. This exchange of information allows the government and the private sector to learn from each other and apply the best ransomware protection practices. While not explicitly stated, CISA encourages private companies to invest in newer technologies, including a layered security approach, to protect their data.
Enterprises that continue to use outdated security features may be placing themselves at risk, both financially and legally. With a modern layered security approach in place, you remove the risk of any potential costs associated with cyberattacks or any legal repercussions involved for violations of privacy, if ever your data network containing sensitive information is leaked out.
Many businesses today now heavily rely on some sort of computer-based IT networking system. Regardless of what industry you are in, you will most likely need technology to facilitate or record your day-to-day operations. To keep your business running smoothly, it is highly recommended that you set up a layered security approach sooner than later. Not only does this benefit your company immediately, it also instills a strong cybersecurity-focused culture in your organization.
