Customers will search for an exit 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.

The network, the reputation of the business (as in the instance of the notorious W-2 phishing fraud that affected hundreds of businesses this year), or the identity of the compromised person can all be severely damaged once the phishing links have been activated, installing malware or collecting credentials.


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, was singled out by cybersecurity company Proofpoint as the most popular malware kind for hackers in 2016. The cybercrime underground is getting more industrialized as these techniques advance. Hacker communities consider themselves as legitimate, operating enterprises. The 2016 Symantec Internet Security Threat Report states that hackers are establishing professional networks, growing considerably more brazen in their pursuit of targets… and the sums of money they demand. The study claims:

“Just as legitimate businesses have partners, associates, resellers, and vendors, so do those enterprises operating in the shadows.”

Companies require a combination of the greatest security technologies and defenses to safeguard their sensitive data and brands in light of all the breakthroughs that lie on the Dark Web. Furthermore, IT service providers must make these options available to their clients.


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. If a customer’s private information is compromised and the outsourced provider had access to it, the supplier might bear some of the cost.

Also, clients could leave the provider if they learn that it does not provide enough options for data protection, which would be a recipe for disaster in terms of the company’s reputation. To acquire as many services “under one roof,” organizations are motivated to combine IT service providers. The fewer suppliers and vendors they need to work with and pay for, the better. And security is the main concern. Customers are no longer just saying they care about security; they now expect action and products alongside their other IT services, according to a poll by CompTIA earlier this year titled Security in the IT Channel. According to the channel companies that conducted the poll, customers’ interest in firewalls and antivirus software was highest, with interest in security information and event management emerging more recently (SIEM).


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. As 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” so they don’t lose the battle or the confidence of their clients.

For instance, CYB3R-X collaborates with IT service providers to assist organizations increase their security and keep ahead of the most cutting-edge threats. The payment processing and/or merchant technology solutions offered by CYB3R-X’s solution partners are secured by remote network management, secure Wi-Fi, and PCI compliance management services from CYB3R-X.

We are 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:

  • Preventive measures include managed firewalls, rules, antivirus software, and backups.
  • SIEM, end-point security are used for detection and reaction.
  • Automation and Orchestration

Reputable IT service providers like Resource Point of Sale, CoCard, DCR, and POS Solutions resell CYB3R-X’s managed security services.

Take it from our recently revealed partners: expanding your product line to include security services can be beneficial for your company.

“At ReSource Point of Sale, we understand the importance that network security has in the POS industry. As a company whose priority is providing excellent customer service, we know how much our customers will benefit from having the peace of mind that their POS data is secured,” said Nik Parra, CTO, ReSource Point of Sale. “We are excited to partner with CYB3R-X to strengthen our customers’ networks and continue to excel in the services we provide.”

“CoCard is owned and managed by ISOs for the benefit of the individual ISO. Our mission is to provide a pathway for ISOs and agent resellers to maximize individual business strategies within the payment processing arena and enhance the overall economic return for all members,” said Ray Raya, a vice president at CoCard. “We’re excited to offer CYB3R-X’s services alongside our own—giving our customers state-of-the-art essentials for merchant processing, security and compliance, all under one roof.”

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