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11 Mar 2021

Many UK firms says they can’t afford to stay safe against cyberattacks

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They are also struggling to find the necessary expertise.

Despite the obvious importance of cybersecurity, many organizations in the UK cannot afford to secure their operations. This is according to a new report from cybersecurity firm Keeper Security, which found that the majority of organizations (59 percent) have insufficient funding to fully cover their cybersecurity needs.

The gravity of the problem becomes clear in the context of the number of cyberthreats modern businesses face. More than two thirds (69 percent) of tech firms in the UK have suffered an attack in the last year, with roughly half saying attacks have grown more dangerous. Almost half experienced an incident that involved losing sensitive customer or employee data, and almost a third lost more than $240,000 per attack.

Adding insult to injury, the funding problem is paired with a scarcity of security expertise. The majority of UK tech firms (61 percent) are lacking necessary in-house expertise to prevent cyberattacks or deal with the aftermath of one.

The Covid-19 pandemic has further exacerbated the problem, some experts are saying. Almost half (45 percent) of the report’s respondents claim Covid-19 has affected businesses’ online security.

“Keeping data secure is simply a non-negotiable, even more so when disaster strikes,” said Darren Guccione, CEO and Co-Founder of Keeper Security.

“A successful cyberattack and the financial repercussions that come with it are much more likely to prove fatal to a business.”

Written By Sead Fadilpašić

Article origin: https://www.itproportal.com/news/many-uk-firms-says-they-cant-afford-to-stay-safe-against-cyberattacks/

Image via www.shutterstock.com

This interesting article goes to show the difficulties that cyber security poses businesses. We offer a great alternative with our Security Operations Centre and 24×7 monitoring and breach detection.

SOC-AS-A-SERVICE – Continuous Monitoring and Breach Protection

With our SOC-as-a-Service, you get all the capabilities of a next generation SOC without the cost and headache of managing one yourself. Protect your network, cloud applications and data with the Microtechs SOC, powered by User Behavior Analytics.

We collect streams of security metadata for automatic correlations. Combined with threat intelligence, we detect and provide alerts about security anomalies to predict where the next big threat will appear before it happens. This is all in real time.

This is all delivered under your brand to your customers and includes the full helpdesk response from our team in Guildford – UK; monitoring, detection, alerting, hosted SIEM, O365 and Analytics portal.

6 Reasons why you need a SOC-as-a-service for you or your customers

  1. 24x7x365 cyber monitoring for you or your customers
    2. 100% visibility of all digital assets and vulnerabilities
    3. Security data consolidation and centralised log management
    4. Real time notifications and alerts
    5. A team of cyber experts dedicated to you and backed up by our incident management team in Guildford, UK.
    6. Our SIEM platform can be white labelled to your brand.

What’s the difference between SIEM and SOC?

SIEM (Security Information and Event Management) is a technology system that powers the management of your logs. Traditionally it’s been a hardware appliance, but increasingly it’s delivered as a SaaS product. By contrast, the SOC (Security Operations Centre) is the team that uses the SIEM tool to keep you secure.

The SOC will use their insight and intelligence to program the SIEM tool to make sure it’s spotting every kind of cyber threat. A good managed SOC also includes security researchers, threat intelligence feeds and works round-the-clock.

A modern SOC – why we are different

Silencer – Enforces 90% true positives and correlates with machine learning to uncover true anomalies & Creates Incidents for Response.

Modern, Cloud-Native Technology – uncovers patterns in user behavior and evidence of intruder compromise, insider threats, or risky behavior in cloud, applications and networks.

Predictive Analytics & Risk Scoring – shows real time remediation impact on risk profile – great for CIOs, CISOs and MSPs looking to demonstrate how their efforts are helping reduce risk.

Compliance and reporting

Complete visibility of all assets (users / serverless infrastructures / Apps / APIs / Servers & Workloads / Network / Endpoints / IoT)

Encrypted data storage and access, configuration and changes monitored.

Machine learning understands all asset and human behavior and quickly identifies anomalous activity.

Correlates monitoring information to potential data leaks or attacks.

Correlates information with human and machine intelligence in the attack chain.

Key Points

  • Fixed monthly fee based on devices
  • 24/7 Security Ops Team
  • Managed cloud-based SIEM (Security Information and Event Management)
  • Threat hunting
  • Threat intelligence (3rd party)
  • Real-time notifications and guided alerts
  • Online analytics / reporting dashboard
  • Integration with industry leading response tools
  • Monthly review and recommendations
  • Regulatory compliance
  • Machine Learning & User Behaviour Analytics
  • Virtual Appliance Log Data Streaming
  • Endpoint Detection & Response
  • 24×7 Monitoring & Detection
  • Multi-Dimensional Threat Intelligence
  • Auto Incident Response
  • Multi-Cloud Monitoring
  • Insider Threat Detection
  • Removal of infected / affected devices (coming qtr2 2021)

Here’s what our customers have said;

“Using Microtechs to extend the helpdesk capabilities for our organisation has been a very worthwhile venture for us. The transition was very easy and simple, and we have found the Microtechs staff to be both knowledgeable and professional; in their dealings with our clients.”

“My customers receive a polite service and their issues are dealt with quickly and professionally. In short Microtechs provide a courteous, effective and cost-efficient service that enables me to offer my customers 24/7 support without the associated expense.”

It would be great to have a chat with you and understand a little about your business, even if you are not quite ready to outsource.

Live chat us now or call 01483 407417

Large businesses are the most vulnerable to cyber attacks

UK businesses failing basic security measures

Author:

Lisa
Sales Director
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