The next Generation of Cybersecurity
In today's age of digital information, cybersecurity attacks are more dangerous than ever for businesses. With so much at stake, it's crucial to stay up to date on cyber awareness and how to protect computing security. Here's a look at the next generation of network and cybersecurity strategies that every Hong Kong business needs of and should know about.
A New Generation of Cybersecurity Risks
New technology is constantly changing the way we work. From the popularisation of cloud technology to the rapid spread of 5G, businesses are constantly being spoiled with new ways to improve productivity and efficiency. However, unforeseeable circumstances, such as the 2019 pandemic, also set off an unprecedented global shift towards a hybrid and remote work culture. As our workforce becomes increasingly dependent on the internet, mobile devices, and the cloud network for our daily work, new cybersecurity risks also arise.
A New Mobile Workforce
Deloitte recently conducted a survey to identify the leading struggles faced by CISOs (Chief Information Security Officer) and CIOs (Chief Information Officer). Unsurprisingly, 40% of respondents identified transformation and hybrid IT as their primary obstacles when it came to effective cybersecurity management. Hybrid and remote work often mean businesses are suddenly introducing hundreds of unprotected new devices, such as employee laptops and home PCs into their existing network. Older cybersecurity strategies that focused on protecting devices in a centralised office environment are no longer adequate against the risks and threats of this day and age.
Data Centre & Cloud Transformation
Cloud technology helps businesses to save enormously on costs and enable them to expand into new markets quickly and efficiently. However, it also comes with the need to gain better visibility across multiple cloud service providers and ensure endpoint and data security in a distributed environment. Without an effective cybersecurity strategy in place, businesses are vulnerable to targeted attacks that could compromise or sequester vast amounts of sensitive information.
The Increasing Cost of Cybersecurity Breaches
According to a 2022 IBM security report, cyber attacks caused by exploiting vulnerabilities increased by 33% between 2020 and 2021. The average cost of a data breach cost also rose by almost 10% to $4.24 million, the highest in over seven years. Cybersecurity attacks not only hurt businesses financially, but can also cripple their operations and damage their hard-earned reputations. As of the fourth quarter of 2021, the average length of interruption after ransomware attacks on businesses and organisations in the United States was 20 days. Private and confidential information, including that of clients, customers, and business partners are often leaked because of these cybersecurity attacks.
Next Generation Cybersecurity: SOC (Security Operations Center)
As the need for cybersecurity rises, the cost of and competition for IT talent also skyrockets. One of the most cost-efficient cybersecurity strategies that businesses can employ is to outsource their security burden to a security operations centre (SOC) and allow their dedicated teams of IT experts to provide 24/7 security support.
By assembling casts of top IT and security specialists, SOCs offer companies the benefits of professional security support without having to support a large team of SOC experts year-round. HKT's Next Generation Security Operations Centre (NG SOC), for example, provides an SOC as a service like TMS, DDoS Protection, Firewall, and WAF-as-a-Service to protect businesses against a wide range of cybersecurity risks. Newer cybersecurity measures such as EDR, SASE, SD-WAN, and Incident Response are also included for protection against newer threats.
Our SOC security operations centre can help businesses proactively identify cyber threats and respond to incidents with actionable recommendations before being hacked. Advanced technologies such as big data analytics, machine learning, local and global threat intelligence, Security Orchestration, Automation and Response (SOAR), SIEM, CTI, and ITSM are all adopted to elevate the speed and precision of the threat response.
Through automated threat detection, AI-driven malware protection, 24/7 monitoring, and full end-to-end encryption, an SOC can provide a business with the most up-to date and holistic cybersecurity solutions at an affordable price. SOC monitoring also provides real time reporting and incident response services, giving businesses the peace of mind knowing that their data is secure and protected against any potential threats.
Next Generation Endpoint Detection and Response (EDR)
The hybrid work culture has made endpoint security more important than ever. However, next generation cyber attacks have evolved to a level of sophistication that can now bypass traditional endpoint protection. More than one-third4 of today's cyber attacks are now non-malware based. This means that companies need endpoint protection solutions that can overcome the stealthiest of threats, provide automatic protection and detection, and respond to known and unknown attacks that target their endpoints.
EDR tools can detect the most sophisticated cyber attacks that traditional security solutions are unable to detect. The system also employs deep learning AI technology which increases accuracy in understanding malicious hackers and can be deployed rapidly on any device within an organization. This makes it easier for businesses to scale their cybersecurity capabilities as they expand or evolve.
Managed by a top team of security experts at our NG SOC, HKT's Managed Endpoint Detection and Response can help a business prevent, detect, and respond to endpoint attacks and secure its endpoints everywhere. Key features such as automatic advanced threat detection can mitigate known and unknown attacks automatically using machine learning and AI techniques from data collected at the endpoint, ensuring a fast and precisely targeted incident response.
Big Data Analytics & Machine Learning
Big data analytics and machine learning technologies have emerged as an effective way to identify potential cyber threats, detect anomalies in user behaviour patterns, and analyse large volumes of security data.
At HKT’s Next Generation SOC, our team of expert analysts can assess the risk profile of any organisation by looking at the different factors that could be causing a cyber attack. This includes deep learning the available data sets across the company's network infrastructure to pinpoint any weaknesses or vulnerable points in their security strategy. Our analysts can also provide actionable insights into what needs to be improved for better protection against future attacks.
Local and Global Threat Intelligence
HKT's NG SOC also possess an enormous library of exclusive data on local cybersecurity attacks that can be utilised in combination with our global cyber threat intelligence to help identify both local and international cyber attacks before they can cause any damage. Existing data and intelligence can also help our ensemble AI machines gain a wider and more comprehensive picture of how cyber attacks and frauds operate and learn to better identify and defend against them. With more data and resources, our AI machines can identify threats more accurately, reduce false alarms, and significantly reduce the workload of any company's IT team.
Security Orchestration, Automation and Response (SOAR)
HKT's Security Orchestration, Automation, and Response (SOAR) solutions can help accelerate incident response time by automatically identifying the appropriate next step in responding to a cyber attack or security event. It allows IT teams to identify threats quickly and respond with speed and accuracy without putting extra strain on personnel resources.
At HKT’s Next Generation SOC, our team of experts can implement a next generation SOAR platform that integrates seamlessly into a company's existing IT infrastructure such as their business website. Our platform automates manual activities such as threat detection, analysis & prioritisation, ticketing/alerting systems and more to improve efficiency while providing visibility into all potential cyber risks across an organisation.
Contain Your Cybersecurity with HKT
The cybersecurity landscape is rapidly changing as the world moves toward hybrid work and a cloud-based IT environment. As the next generation of cybersecurity technology continues to evolve and become increasingly complex, businesses should remain vigilant in ensuring they have the necessary tools and processes in place to protect their data and systems from malicious attacks.
HKT’s Next Generation SOC combines top IT talent with the latest technology to provide a holistic threat management service that can protect companies from the most advanced cyber attacks. Instead of building a large IT security team and infrastructure from scratch, enterprises in Hong Kong could save on security expenses by partnering with HKT's NG SOC and immediately gain support from the best tools and personnel. Contact us today to learn more about how HKT’s next-generation cybersecurity solutions can help protect your business.