According to the 2021 IBM Cyber Security Intelligence Index Report, 95% of security breaches are caused by human error.
And according to various risk barometers, cyberattacks rank first among business risks, just behind supply chain disruptions and far ahead of natural disasters, political instability, war, terrorism, monetary policy, and trade wars.
Global cybercrime costs the economy $1 trillion, a 50% increase by 2020.
So what can we do about it? How can we manage the unmanageable?
Everyone wants to protect themselves, but not everyone understands what that protection means in terms of investment of time, money and effort.
The cyber market is becoming more and more regulated, and if you want to stay in business, you’ve to play by the rules. At the very least, you need to get cyber insurance, which you can get if you meet 20% of all compliance and certification requirements.
As your business grows, you’ll need to obtain SOC 2 and CMMC 2.0. By doing so, you’ll automatically meet 80% of the requirements of NIST and MITRE.
First, you need to understand what’s required in reality to become and remain compliant. We’re talking tens of thousands of dollars in software and hardware. At least 12 weeks of time to implement and have experts manage the process.
Are you ready for that?
Software subscription renewal is 50% of data security. The other 50% is implementation, not to mention hardware. You do not want your network to slow down and have everyone complaining.
If that happens, you will shut down the application and leave your business vulnerable and unprotected.
Do not let that happen just because no one told you that you need to secure software with matching hardware.
Another important piece of advice: always make sure that your cyber partner follows our expertise and uses two important security frameworks, such as NIST 800 standards (National Institute Standards of Technology) and MITRE.
What Cybercriminals Want
NIST has developed an attack framework with 18 attack layers that cybercriminals use today at the highest level.
And yes, each attack layer should be a security stack unto itself.
You have 18 different ways to protect your network, and for each of those 18 ways, cybercriminals have a hundred ways.
You might think they are targeting data encryption and ransomware, but the most important thing is to extort money from a company.
Also, keep in mind that 50% of the time they will come back and try to hack you again.
How To Become Compliant And Protected
To achieve compliance, many companies must become certified because they must comply with a number of laws and industry regulations.
If you do business with the federal government, which is after all half of the U.S. economy, and if 10% of your revenue deals with the federal government, you must comply with the NIST 800 – 171 standards. You have one year to implement them.
SOC 2 however, is the most difficult certification to acquire and maintain.
The next question you should ask yourself is how much it would cost the same company to purchase cyber insurance.
Cyber Insurance Estimated Costs
If you do 20% of all basic things, you have the 80% of data and network protection.
The path to compliance is through software subscription licensing and configuration best practices. Following this scheme, you will achieve 80% certification.
If you are just starting out, cyber insurance will cost you an additional $25,000 in products and services.
And it will cost you $25,000 each year to comply and protect those 18 surface layers. Maintenance and labor will cost you another $25,000.
But the reality is that most organizations spend only 20% of their actual budget on data security, which means they only meet 20% of the minimum cyber insurance requirements.
The minimum cyber insurance requirements are 20% of the requirements of SOC 2 and CMMC 2.0 Cyber insurance companies have their own attack framework that they want to be sure you are using.
At TLIC Worldwide, we are security experts from the ground up. Everything we do at TLIC is tied to the NIST 800 and MITRE attack framework to ensure our clients receive SOC 2 and CMMC 2.0 certifications and cyber insurance.
Companies need to collaborate and standardize their compliance controls because 80% of cybersecurity is compliance with the basics.
- The applications you license,
- The implementation configuration for that licensing.
It’s not enough to rent a firewall and turn on the defaults, even if it gives you the best industry standards, but that’s only half of your protection.
And it’s only half because every cybercriminal knows what the default settings do.
Of course, you’ll need to customize each installation to meet your organization’s specific needs. You do not use the same email protection, you do not have the same desktop virus protection.
Use licensing to meet your compliance and security goals.
- Complementary software, and
- Expertise in configurations.
At TLIC, we offer you all of that. This means that not only will you receive your license and a comprehensive security plan to help you achieve your compliance and certification levels, but you will also receive expert guidance during the installation and implementation process.
Let us take care of your license subscriptions and make sure you get your compliance, certification, and cyber insurance.
Data compliance and certifications are our specialties.
We are your partner for compliance and cyber security.
Your Data Expert,
Get Me at 401-214-5557 or firstname.lastname@example.org