Enterprise cybersecurity refers to the processes and systems put in place to keep a business or organization's digital assets safe. This includes computer networks, information, data, and systems.
These should be kept safe from various cyber threats like phishing, ransomware and malware attacks, and insider threats. Learn more about enterprise security threats and cybersecurity basics.
Read on to find out more about enterprise cybersecurity, why it is important, and which industries are most at risk.
What Is Enterprise Cybersecurity?
Enterprise cybersecurity refers to the process of protecting an organization's digital assets, such as networks, devices, and data, from unauthorized access, theft, or damage.
With the increasing reliance on technology in business operations, enterprise cybersecurity has become a critical aspect of risk management for organizations of all sizes. The goal of enterprise cybersecurity is to keep sensitive information safe, maintain data confidentiality, and ensure systems' integrity and availability.
To achieve this, enterprise cybersecurity employs a range of techniques, including firewalls, encryption, intrusion detection systems, vulnerability assessments, and employee training and awareness. The approach usually involves creating a comprehensive cybersecurity strategy that addresses potential risks and vulnerabilities, implements protective measures, and establishes incident response plans to handle cyber attacks.
What Are Some of The Most Common Threats to Enterprise Cybersecurity?
There are numerous threats to enterprise cybersecurity. Some of the most common ones include:
Phishing attacks
Phishing attacks attempt to trick employees into revealing sensitive information or clicking on a link that downloads malware. These attacks can come through emails, social media, or even text messages.
Ransomware
Ransomware is a type of malware that encrypts a company's files and data, making them inaccessible until a ransom is paid to the attacker.
Malware
Malware refers to any software designed to harm a computer or network. Malware can be spread through email attachments, infected websites, or software downloads.
Insider threats
These are threats from within an organization, where employees or contractors misuse their access privileges to steal sensitive information or cause damage to the company's network.
DDoS attacks
Distributed Denial of Service (DDoS) attacks are when attackers flood a network or website with traffic, causing it to slow down or crash.
Social engineering
Social engineering is a tactic used by attackers to manipulate people into divulging sensitive information. This can include impersonating a trusted source or using psychological tactics to access a company's network.
Employee-targeted digital risks include malware, phishing, insider threats, and social engineering.
What's The Difference Between Consumer and Enterprise Cybersecurity?
Consumer cybersecurity and enterprise cybersecurity are two different approaches to securing computer systems and data, and they differ in terms of their scope and the level of protection they provide.
Consumer cybersecurity protects individual users and their personal devices, such as laptops, smartphones, and tablets, from cyber threats. The focus is securing the user's personal data, such as login details, financial information, and personal files. Consumer cybersecurity solutions typically include antivirus software, firewalls, and virtual private networks (VPNs).
Enterprise cybersecurity, on the other hand, is focused on securing the digital assets of a business or organization, including its network, servers, and data centers. It involves protecting sensitive data from cyber threats, such as customer information, financial records, and intellectual property. Enterprise cybersecurity solutions typically include security information and event management (SIEM) software, intrusion detection and prevention systems (IDPS), and endpoint protection platforms (EPPs).
What Are the Most Targeted Industries in Cybersecurity?
Cybersecurity is a critical concern for all industries as cyber threats are constantly evolving and becoming more sophisticated. However, some industries may be more targeted than others due to the nature of their operations or the value of the data they handle. Here are some of the most targeted industries in cybersecurity:
Financial Services
The financial sector has always been a prime target for cybercriminals due to the sensitive nature of the data it handles, including personal and financial information.
Healthcare
The healthcare industry is increasingly digitized, with patient data stored electronically. Unfortunately, this has made it a prime target for cyber attacks, as medical records contain sensitive personal information that can be used for fraud or identity theft.
Government
Governments are attractive targets for cyber attacks due to the amount of sensitive information they hold, including national security information and citizen data.
Energy and Utilities
The energy and utilities sector operates critical infrastructure that is essential to daily life, making it a prime target for cyber attacks. An attack on the energy grid or water supply could result in widespread disruption and potentially even loss of life.
Manufacturing
Manufacturing companies often hold valuable intellectual property, making them a prime target for cyber espionage. Additionally, cyber attacks on manufacturing systems can result in production disruptions and potential safety hazards.
(For more examples, here are the five most common small business cyber threats.)
How Often Should Enterprise Cybersecurity Policies Be Reviewed?
Enterprise cybersecurity policies should be reviewed regularly to ensure that they are up-to-date and effective. The frequency of policy reviews may vary depending on factors such as the organization's size, the IT infrastructure's complexity, and the regulatory requirements that the organization must comply with.
As a general guideline, it is recommended that enterprise cybersecurity policies be reviewed at least once a year. This allows the organization to assess any new threats or risks that have emerged over the past year and make any necessary updates to policies and procedures. Policy reviews should also be conducted whenever there are significant changes to the IT environment.
Policy reviews are not just about updating policies and procedures. They are also an opportunity to assess the effectiveness of existing policies and procedures, identify any gaps or weaknesses in the organization's cybersecurity system, the company's risk capacity, and make necessary adjustments to improve it overall. Therefore, policy reviews should be conducted regularly to ensure that the organization's cybersecurity systems and processes stay up to date and continue protecting against emerging threats.
What Are the Pillars of Enterprise Risk Management?
The Pillars of the Enterprise Risk Management framework (ERM) are guidelines organizations use to establish their cybersecurity vulnerability and identify, assess, prioritize, and manage various types of cybersecurity risk that can affect their operations and objectives. The following are the five pillars of ERM:
- Risk Identification
- Risk Assessment
- Risk Response
- Risk Monitoring
- Risk Communication
What Are the Biggest Challenges of Enterprise Cybersecurity?
Enterprise security faces numerous challenges, making it a complex and ongoing concern for organizations. Some of the biggest challenges of enterprise risk management include:
Cybercrime
The rise of cybercrime has increased the likelihood of data breaches and other cyber attacks. Hackers are becoming more sophisticated and use advanced techniques to bypass information security measures.
Insider threats
Insider threats are one of the most significant challenges for enterprise cybersecurity. Employees who have authorized access to sensitive data can use their privileges to steal or compromise information.
Lack of skilled cybersecurity professionals
There is a shortage of skilled cybersecurity professionals. Hiring qualified cybersecurity professionals is expensive and can be a time-consuming process.
Complexity
The complexity of enterprise networks makes it difficult to manage and secure them. Organizations have to deal with multiple endpoints, servers, and applications, and this makes it hard to ensure that every aspect of the network is secure.
How Can Riskrecon Help Me?
Riskrecon by Mastercard specializes in enterprise cybersecurity. Book a 30-day free trial and discover how we can help your business.
Enterprise cybersecurity keeps businesses, their infrastructure, and their data safe from hackers or other unauthorized access.
While businesses functioning in the financial and health sectors and government departments are particularly attractive targets, organizations in all niches need to ensure that their cybersecurity processes and procedures are up-to-date and comprehensive.
