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Importance of Cyber Security Essential 8 for Businesses

Posted By Tuhin Chakraborty, On 12 Oct 2022.

  • Cyber Security
  • Essential 8
  • Data Protection

The cyber security environment is complicated and changing every day, cyberattacks on businesses of all sizes take various forms, from simple phishing emails to complicated, minutely planned operations, and for every weakness that is fixed, another one appears that may be easily exploited. By protecting your data and that of your clients, improving cyber security fosters stronger business relationships and creates new opportunities.

What Is Cyber Security?

Cybersecurity is the method and set of tools used to protect computer systems, networks, software applications, and sensitive data against online threats. Attackers are constantly aiming for systems with more advanced methods. Everyone is affected, whether they're individuals, small businesses, or major corporations. Therefore, all of these businesses, whether they are in the IT or non-IT sectors, have recognized the value of cyber security and many are working to adopt every protective step under their control.

Importance of Cyber Security?

Small and large businesses are increasingly having issues as a result of the increase in cyberattacks. Businesses must now be aware of concerns like whom cybersecurity affects and how cybersecurity affects society. Investing in cyber security measures and being aware of their benefits is the greatest technique to defend your company. There are a variety of options available to organizations, ranging from minor adjustments like installing and scanning your systems with trustworthy anti-virus software, storing up firm data, and creating stronger passwords to large adjustments like hiring a cyber security service provider. While investing time, money, and other resources in cyber security may seem like a hassle, rest assured that it is an investment that will pay off financially for the company in the long term.

Most Common Types of Cyber-Attacks

  • Malware: The systems are infected using malware, such as viruses, trojan horses, worms, etc. Malware is distributed using emails or external memory storage. These are applications that begin operating in the background of your computer without your knowledge.
  • Denial of Service: The denial of service attack prevents users from accessing networks, services, or applications. By using up all of these resources, this attack works. Because of this, authorized customers who attempt to access these resources are unable to do so.
  • Scareware: Scareware is also referred to as a false security alert. In general, scareware notifies users through a popup that their system is at risk and has been infected. Installing "software" that will assist them in resolving the problem and protecting the security of their data will help them protect their system. Users are tricked into downloading the software by this.
  • Botnets & Zombies: Botnets are created to steal data from a system. These applications are also difficult to detect and have the potential to infect a computer, resulting in data theft and other major security issues. The botnet eventually forms a network of all hacked machines, called "zombies." The botnet operates as a controller and thereby takes control of all zombie machines.

What is Cyber Security Essential 8?

The increased number of cyber assaults by cyber criminals on organizations of all sizes and across all industries has underlined the growing importance of having the correct cybersecurity safeguards in place. Many cyberattacks today use approaches that aren't new or innovative. Instead, the major trend is an increase in the number and intensity of attacks. Following a thorough analysis of cybersecurity problems, the Australian Cyber Security Centre (ACSC) developed a set of baseline techniques known as The Essential 8 to assist organizations in managing or preventing cybersecurity incidents. Implementing these techniques, at the very least, makes it far more challenging for malicious people to compromise IT systems. The ACSC expects that organizations will be able to better protect themselves and prevent the terrible consequences of hacking and cyber-attacks.

Why Essential 8 is mandatory for Businesses in Australia.

The number of cyber-attacks on businesses, governments, and individuals is increasing at an alarming rate. "Cybercrime is one of the most common risks facing Australia, and the most significant threat in terms of overall volume and impact on persons and organizations," according to the Australian Cyber Security Centre. Because of this ever-increasing risk, the Australian Cyber Security Centre (ACSC) and the Australian Signals Directorate (ASD) have developed a guideline of mitigation strategies called the Strategies to Mitigate Cyber Security Incidents, which aims to assist organizations in mitigating cyber incidents caused by various threats. The ACSC has selected the eight most effective approaches and recommends that all businesses implement them. They believe that by prioritizing the eight most basic mitigation strategies, organizations will be able to better protect themselves and prevent the disastrous consequences of hacking and cyber-attacks.

What are the Eight basic mitigation Strategies of Essential 8?

Essential 8

Application Control: To prevent unauthorized software from being installed.

Application Patching: To resolve identified security bugs in applications

Operating System Patching: You should also patch your operating system regularly.

Microsoft Office Macro Settings: Modify the default setting in Microsoft Office packages to prevent non-trusted macros from running.

User Application Hardening: User application hardening is the process of further protecting and securing applications by applying methods other than software updates. It goes one step beyond application management by regulating and limiting what whitelisted programs can run and perform on your device.

Restrict administrative privileges: Administrator privileges grant complete control over the system and can be dangerous in the hands of opponents. Restricting admin privileges reduces the possibility of attackers running malicious malware, roaming other devices, and compromising or changing sensitive data.

Multi-Factor Authentication: MFA is required for all special access. Turning on MFA for VPNs, RDP, SSH, and other remote access, as well as for all users who access a critical data repository. Maturity begins with requiring MFA for all users before they can use internet-facing services and third-party suppliers.

Daily Backup and Recovery Strategy: Backups are necessary in case you need to retrieve lost data. Having a data recovery plan in place ensures that when these unexpected events occur, you will still have access to all of your data. By frequently backing up your system, you ensure that you have an up-to-date data backup file with all of the newest versions of your files and applications when they are needed.

Is adopting the Essential Eight enough to protect your organization?

While implementing the Essential Eight security measures is an excellent way to keep your firm cyber-fit, they do not give complete protection against all cyber-attacks and should not be your only line of protection. Other layers of protection, such as solid policy processes and ongoing human risk management, are required for any modern company to maintain acceptable cyber security.



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