Recent statistics reveal that 43% of cyber-attacks are aimed at SMBs. However, only 14% have preparations ready to defend themselves.
Unfortunately, what can happen (too many times) is that a company’s cyber security team has been disconnected from the other departments. Cyber Threat Intelligence only works when cyber security is a significant piece of the overall business strategy.
If you are worried about the uptick in cybercrimes of late, you are not alone, but you still need preparation to avoid being the next business to fall victim to. That way, your company is not at risk of being the next big statistic.
This article will detail what cyber threat intelligence programs do, why they are critical, and the three elements you need in place for success.
Cybercriminals won’t wait to strike, so you shouldn’t wait to protect your business either. Now, here are the specifics you need under your belt.
What Is Cyber Threat Intelligence?
You can root CTI in data compliance. CTI provides context about who is attacking you, such as what their capabilities are and what their motivation is. You will have insights into threats, actors, and data vulnerabilities so that your business can make better decisions.
Therefore, companies set up a Cyber Threat Intelligence program. The program helps develop an all-source analysis of vulnerabilities and cyber risks.
CTI programs are critical to protecting businesses from threats. They go above and beyond standard cyber security. That is because not only do they analyze information and document intelligence on cyber adversaries, but they also eliminate the gap that usually forms between business leadership and the security team.
Effective Cyber Threat Intelligence
The difference between effective versus non-effective is in the communication of risk. Executive leadership is looking for quantitative financial data from CRQ, or Cyber Risk Quantification.
This tells them of cyber threats and their consequences. It is more interesting than typical technical jargon, and it makes practical sense.
Inventory tracking software and antivirus software are helpful tools, but to be effective, you need much more than this.
The program’s primary goal is to align the company with critical threats, along with the potential impact and depth that it can cause. Businesses can place themselves in a position for success by enriching such data and risk intelligence. This is how they can protect themselves before a cyberattack occurs.
A modern Cyber Threat Intelligence program has three key elements, described as follows.
1. Tactical Threat Hunting
A TIP, or Threat Intelligence Platform, assists cyber security teams to provide analysis along with deep context and insight. With detailed information, companies can take action to stop threats when it matters most.
2. Financial Risk Analysis
Cyber Risk Quantification enables security leaders to identify and measure the potential financial impact that can result from cyber risk. This way, they can manage it appropriately and make informed decisions.
3. Remediation Plan
SOAR helps a company’s security team detect emerging threats faster so that they can respond immediately. (SOAR means “Security Orchestration, Automation, and Response.”)
Benefits of Cyber Threat Intelligence
Cybercriminals are using increasingly complex techniques to conduct data breaches, steal data, and lock an entire enterprise system at their will and command. Further, they may demand a large sum of ransom for their ability to restore your database.
There are tremendous benefits to creating a superior Cyber Threat Intelligence program.
You may worry that innovative technology to prevent cyber threats will be very expensive. The opposite is true, in that CTI saves you money, making it cost-effective.
Ponemon Institute recently showed statistics that a data breach will cost your business, roughly on average, $4 million. This includes fees, fines, and lawsuits, not to mention the loss in sales because your company brand will take a hit. Your company can seem “unreliable” to work with.
Having a plan of action will save your company the burden of such heavy costs and a damaged reputation.
You can devote immediate attention to the areas that need it when you have detailed information. It is how you can prepare adequately.
When the security team can pinpoint a threat, they can better focus their attention on areas that are a priority. Really, the security team will inspect for false positives. The system can take care of the rest.
Cyber Threat Intelligence points out data vulnerabilities that are present. When the cyber security team sees the vulnerabilities in the system, they can take action to prevent a hacker from exploiting it. They can take prompt action from such weaknesses.
The risk of data loss lowers, and operations can continue running as normal.
Prevents Data Breaches
CTI is thorough, checking for suspicious domains, links, or IP addresses that could attempt to access your company’s system. Should CTI find an IP address is cynical, the system bars it.
It cannot enter your company’s network. This prevents data loss.
This system helps organizations share information on threats and cybersecurity practices. Collaborating is a way to educate other firms so they can learn of new threats, helping them to know how to prepare accordingly. Businesses can exchange tips on ways to stop cyberattacks.
It is a way to unite against threat actors.
In-Depth Analysis of Cyber Threats
Cyber Threat Intelligence stores tons of information on previous attacks. This includes the methods used to carry out these attacks. With a thorough analysis, you can create ironclad security protocols.
Trust Visore with Cyber Threat Intelligence
We solve three major challenges that affect the cybersecurity of businesses. This includes scarce resources, the experience and knowledge gap with personnel, and not having the capacity to analyze security data that can arrive in an amount that is overwhelming to the average company.
With Visore, we partner with you. We give you security solutions that matter, to protect what is important to your business.
As cyberattacks increase, it has never been a better time to talk with us. Schedule a demo now and let’s discuss Cyber Threat Intelligence.