Customers will search for a way out after hackers find a way in.

Consistent threats, which affect companies of all sizes and across all industries, are striking more frequently and with greater consistency. 3,141 verified data breaches were identified after an analysis of 100,000 instances from various businesses and verticals for the 2016 Verizon Data Breach Report. Phishing and point-of-sale (POS) attacks, which can cause the most damage, are still very widespread, the survey claims. Phishing emails are not novel attack vectors, but as thieves enhance the look of URLs and domains, colors, logos, and email content to avoid raising suspicion, they are getting more and more convincing.

Should we even need to explain POS intrusions?

In the most recent incidents involving Eddie Bauer and a number of hotels, such as Millenium, Kimpton, HEI, and others, POS malware enters the network and exfiltrates sensitive data, such as customer card data, having a detrimental effect on customer loyalty, reputation, and financial health of the business, especially once the news is reported in the media (and it almost always will).

These are only two illustrations. DDoS attacks, other types of crimeware, and web app attacks are also included in the breach report as some of the hackers’ preferred evolving techniques. Ransomware, which locks down your laptop and encrypts all of your files until you can pay a specified sum in Bitcoin, has been named as the most popular virus type by cybersecurity company Proofpoint.

IT Service Providers’ Reactions

Clients of IT service providers without information security offerings are extremely vulnerable to all known attacks as well as a worrying number of unknown ones. If exploited, this weakness could have a significant negative effect on customers, not just in terms of the immediate financial loss from breach damages but also in terms of future profit impact, decline in customer loyalty, and damage to overall brand reputation.

The vendor of IT services could also be adversely affected. The majority of clients are aware of the threat that cybercriminals pose to their companies, and they anticipate that the outsourced providers will provide them with choices for self-defense. When a company’s security is compromised and an outsourced provider has access to the customer’s private information, the provider might be held responsible.

Partnership is the Answer

Although it may seem scary to the service provider, there is a solution to quickly and easily fill the gap in information security services: through partnerships. Since you’re collaborating with a specialist in that area of security, this strategy results in cheaper expenses, greater revenues, and more practical solutions.

IT service providers should join with security services companies if cybercriminals are doing so to further their “commercial success”

CYB3R- X as a partner channel-focused firm, because we understand that providing fully integrated solutions that result in robust, simple, and inexpensive data security is the best approach to protect consumers, merchants, and organizations alike. Currently, we provide a range of multilayer solutions, such as:

  • Prevention measures include managed firewalls, rules, antivirus software, and backups.
  • SIEM, end-point security orchestration, and automation are used for detection and response.

We know what you need. Contact us today.