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With 2023 cybersecurity breach statistics showing that the average cost of a breach is now $7.45 million, businesses must take the necessary steps to protect their data from increasingly complex and frequent cyberattacks. This guide will discuss the importance of cybersecurity threat detection and introduce Guardian 365, Microsoft’s new cloud-based offering for detecting and mitigating threats before they become major risks.
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2023 Cybersecurity Breach Statistics
As cyberattacks have become more sophisticated, the cost of dealing with the aftermath of these breaches has increased dramatically. According to 2023 statistics from IBM’s Cost of a Data Breach Report, the average overall cost has risen to $7.45 million, with organizations experiencing an average of 166 days before they detect and contain the threat. The same report also showed that malicious or criminal attacks were responsible for 43% of all data breaches in 2023, up from 37% in 2020. This increase highlights the importance of having proper security safeguards in place to respond quickly.
The Importance of Cybersecurity Threat Detection
Organizations need to take steps to ensure they are monitoring their systems for any signs of suspicious activity or attempts by attackers to gain access to their networks. By doing this, they can identify potential threats before they become an issue and take appropriate measures to stop them, such as blocking malicious IP addresses or disabling accounts linked to suspicious activity. This is known as threat detection, and it is essential for organizations looking to protect against cyberattacks.
What Is Guardian 365?
Microsoft recently launched its cloud-based offering for detecting and mitigating threats, Guardian 365. With its advanced machine learning capabilities, Guardian 365 provides businesses with proactive protection by identifying any vulnerabilities that attackers may try to exploit. It also offers real-time monitoring so companies can be alerted when suspicious activities occur on their network.
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The Different Types of Cybersecurity Threats
- Malware Attacks: Malware (malicious software) is a broad category of cybersecurity threats encompassing various types of malicious programs. They can infiltrate a company's systems through email attachments, infected websites, or even removable storage devices. Examples include viruses, worms, ransomware, and spyware. Malware attacks can cause severe disruptions to business operations, compromise sensitive data, and even lead to financial losses.
- Phishing and Social Engineering: Phishing attacks involve tricking individuals into revealing sensitive information by posing as a trustworthy entity, such as login credentials or financial details. They typically occur through fraudulent emails, instant messages, or phone calls that appear to be from legitimate sources. Social engineering techniques exploit human psychology to manipulate individuals into bypassing security measures or divulging confidential information. These threats can compromise employee accounts, grant unauthorized access to company systems, or facilitate other cyberattacks.
- Distributed Denial of Service (DDoS) Attacks: A DDoS attack aims to overwhelm a company's network or website. The attackers achieve this by leveraging a network of compromised computers, often called a botnet, to generate excessive traffic. DDoS attacks can result in temporary or prolonged unavailability of online services, damaging a company's reputation, and leading to financial losses due to disrupted operations.
- Advanced Persistent Threats (APTs): APTs are sophisticated and targeted attacks conducted by skilled cybercriminals or nation-state actors. These attackers maintain a long-term presence within a company's network while remaining undetected. APTs often involve multiple stages, including reconnaissance, initial compromise, privilege escalation, data exfiltration, and persistent access. These threats can have far-reaching consequences, including intellectual property theft, sensitive data breaches, or disruption of critical infrastructure.
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How Guardian 365 Can Manage Threats In Cybersecurity for Your Business
No matter how sophisticated today's cyberthreats become, businesses can remain secure with Guardian 365 solutions. Outlined below are a few examples:
24x7x365 Monitoring
By constantly monitoring your networks and systems, Guardian 365 can detect potential threats before they impact your business. The monitoring includes network traffic, user activities, logs, and other possible security sources. This real-time technology helps you stay one step ahead of potential risks and provides the peace of mind that your assets are safe.
Remediating and Responding
With Guardian 365, your team will receive notifications of any suspicious activity detected in near real time. This allows them to quickly assess the situation and respond appropriately. Whether quarantining a system or alerting law enforcement for assistance, Guardian 365 can help you take action, so you don't waste time or resources dealing with a threat that could have been prevented.
Continual Patch Management and System Updates
Updates to software programs happen all the time, and often these updates contain critical patches that fix security vulnerabilities and protect against malicious attacks. Guardian 365 can help ensure that all of your systems are up-to-date with the most current security patches available so you can rest assured knowing that your systems are secure.
Proactive Security Guardians Protecting Your Assets
Guardian 365 helps protect your data by constantly scanning for internal and external threats. With our proactive security guardians keeping an eye out for possible risks, you can be sure that no matter what type of attack comes at you, we'll be there to stop it before it has a chance to cause any harm.
Turning Actionable Insights Into Workflow
After detecting possible threats, Guardian 365 provides actionable insights about what happened during the incident and recommendations on how best to address the problem going forward. This information allows your IT teams to develop best practices for responding to future incidents and better plan their threat mitigation strategies.
Automated Remediation of Known Threats
With our automated remediation capabilities in place, we can identify these known threats quickly and take steps toward remediating them before they can wreak havoc on your business's IT infrastructure or data repositories.
Human-Powered Threat Investigation and Response
While automated processes are great for detecting certain types of threats quickly, human intervention is sometimes necessary to mitigate more complex risks like targeted phishing campaigns or advanced persistent threats (APT). Our experienced cybersecurity professionals at Forsyte are trained in identifying these more complex threat actors while also being knowledgeable in responding promptly.
If you’re unsure, it's time to assess your preparedness. By reflecting on the following questions, you can gauge the readiness of your operations and identify areas for improvement.
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Partner With Forsyte Today for the Best Cybersecurity Threat Detection Services
Guardian 365, the managed security services offered by Forsyte, has demonstrated the strength of its MXDR services and Security Operation Center (SOC), which includes round-the-clock proactive hunting, monitoring, and response capabilities. These capabilities are reinforced by close integration with the Microsoft Security platform.
Free yourself from looming cybersecurity threats and contact our team today to get started!
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