What are the benefits of ESO services?

In this day and age, anyone with a computer and internet connection can access a vast amount of information in an instant. On one hand, it made systems more efficient and organizations more productive. On the other hand, it left them vulnerable to a new threat — cyberattacks.

Whether you are using the cloud or simply maintaining a website for your business, you need protection for your digital assets. There is a wide range of executive security officer services that can help ensure secure operations and protect the interest of your customers and business partners.

It is clear that everyone can use the services of an ESO, but there are those who need it more than others. Before we get to who needs it, let us take a closer look at what information security is, why it is important, and what are today’s most common threats.

What is Information Security?

Information security is the process of protecting your data from internal and external threats. It can include the use of technologies, processes, systems, and work processes to prevent unauthorized access and potential damage to computers, networks, and programs. The ultimate goal of all these steps is to maintain the integrity, availability, and confidentiality of key pieces of information.

Why is Information Security Important?

Small businesses and mid-sized companies tend to think that they are safe from cyberattacks. It is a common misconception that can have devastating consequences.

Given the importance of customer data, business strategies, and other pieces of information, leaving them open to criminals with malicious intent can lead to significant financial damages and loss of confidence. In some cases, law enforcement agencies can even mete out fines, penalties, and other sanctions.

What Are the Common Threats?

For a cybersecurity strategy to work, each user must learn to recognize threats to know what necessary precautions to take. Some common threats to consider include:

• Malware

Malware is a general term for malicious software designed to access and cause damages to any network, service, or programmable device. Cybercriminals can use the data extracted from this attack as leverage for monetary gain.

• Phishing

Phishing is a form of electronic fraud. In this type of attack, the criminal pretends to be a legitimate entity and attempts to acquire data using links within an email.

• Man-in-the-Middle Attack

In this type of threat, the attackers insert themselves into a transaction between two parties and intercept all useful information. They can use this information to commit identity fraud and other ways to create a financial gain.

• Denial of Service

This type of attack overwhelms servers, networks, and other systems, preventing them from fulfilling requests from legitimate users.

• SQL Injection

An SQL injection occurs when a malicious code is inserted into a server, forcing it to disclose sensitive information that it would not under normal circumstances.

What Organizations Need Access to Executive Security Officer Services?

Anyone storing some form of sensitive information should have  a robust security program in place. However, the following organizations stand to benefit the most from hiring the executive security officer services of a reputable security company.

• Financial Institutions

Based on a report by Business Insider, financial institutions are 300 times more likely to be targeted by cybercriminals. Financial firms offer the most opportunity for cybercriminals today given that most consumers today pay their bills online, buy from e-commerce shops, and conduct banking transactions using the internet.

What is more, industry experts believe that this trend will grow over the next two or three years, considering that consumer behavior is shifting more and more to digital platforms.

While this threat is no secret to financial institutions, many of them do not have the executive management system to prevent sophisticated cyberattacks. They need access to executive security officer services to mitigate the risk and implement a long-term security management system.

• Government Agencies

The government gathers and stores tons of information assets. It is a much larger repository of data compared to private institutions. It has many systems with vulnerabilities that cybercriminals can exploit. These systems can be strengthened by the appropriate executive security service.

• Health Care Institutions

Similar to government agencies, health care institutions have access to a treasure trove of sensitive information, especially with the digitalization of health care systems in the past decade and the advancement of health devices.

Unfortunately, their similarities do not end there. Health care organizations have also fallen prey to many high-profile and costly cyberattacks, especially ransomware attacks. Data extracted from these breaches are sold in the black market and used for various purposes, including identity theft and even espionage. This type of data breach also exposes healthcare organizations to HIPAA compliance violations.

With the high value of information that it stores and its vulnerability to cybersecurity threats, the health care industry could use cybersecurity services to provide peace of mind to patients and all the other stakeholders.

• Manufacturing

Based on a recent survey, manufacturing companies are among the most vulnerable organizations when it comes to digital threats. In fact, 40% of them have been a victim of phishing emails, industrial espionage, drive-by downloads, and other forms of cyberattacks. Each successful attack has resulted in production downtime, off-quality products, loss of sensitive information, and other damages.

• Retail Industry

As more and more consumers become increasingly dependent on e-commerce, cybercriminals are also becoming opportunistic shoppers. Many big-name retail companies have encountered sophisticated cyberattacks extracting sensitive customer information, especially credit card numbers which can be easily monetized.

Some companies have been ramping up their executive security measures, adding a chief security officer CSO or a chief information security officer CISO, working closely with and directing the rest of their security team. Other organizations may have the need, but not the immediate budget, for a C-level full time employee that comes with a salary in the mid $100K to mid $200K a year range. The value of outsourcing an ESO is filling this critical cybersecurity leadership function with a team of educated, credentialed and experienced professionals at a fraction of the above salary.

With the amount of information made available by advancing technology and the high level of threats made possible by the same technology, executive protection for digital assets has never been more important. Together with administrative security and physical security, it makes for robust corporate security that can protect a company, its business partners, and clients.

For all your cybersecurity needs, trust only Security Compliance Associates. Call us today at 727-571-1141 and let our experts discuss your options.