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What Is Cyber Threat Intelligence, and Why Do You Need It?

What Is Cyber Threat Intelligence, and Why Do You Need It

Your business can be protected by learning about cyberattacks in progress and current.

  • The average cost of a cyberattack against a small business is estimated at $25,000 to $38,000.
  • Cyber threat intelligence analyzes trends in cyberattacks and helps to prepare for them.
  • Many threat intelligence providers can assist your business in monitoring threats and recommending a cybersecurity solution.
  • This article was written for business owners who use network storage to protect their data and for other operations.– Sun Tzu’s words, “If the enemy is known and you are aware of yourself, you don’t need to fear the outcome of a hundred wars,” was a fifth-century Chinese philosopher who couldn’t have imagined that his teachings would be applicable to cybersecurity in 2022.

Businesses around the globe are trying to strengthen their defenses against high tech enemies at the gate. They have hired cybersecurity analysts to study hackers’ methods in a process called cyber-threat intelligence.

According to a McAfee report, the cost of cyberattacks worldwide has increased from $600 billion to $945 billion in 2018. This is an increase of more that 50% and more than 1 percent of global GDP.

All signs point to cybercrime getting worse. There are high-profile cybercrime cases in the news and little to no consequences for cybercriminals. Experts in the field often have to create risk assessments to help small businesses identify any weaknesses.

Cyber threat intelligence is a constantly changing digital landscape. It requires highly skilled individuals to keep up with these changes and alert clients about potential threats.

What is cyber threat intelligence?

Cyber threat intelligence is a part of cybersecurity and focuses on the analysis and collection of information about potential and current attacks that could pose a threat to an organization’s safety or assets.

Businesses can use this tactic to take proactive measures to protect their systems. Cyber threat intelligence and analysis can help prevent data breaches, which could save you money on incident response costs.

Cyber threat intelligence provides companies with an in-depth understanding about the most dangerous threats to their infrastructure, and helps them to create a plan to protect themselves. Based on the information they have found, analysts try to provide as much useful information as possible to their clients.

Cyber threat intelligence analysis can help you understand why hackers would attempt to hack your systems. Understanding the motive of the opposition can help you identify the areas that could be most at risk. [Related to How To Improve Your Small Business’s Security in an Hour ]

Cyber threat intelligence comes in many forms

There are three types of cyber threat intelligence: operational, tactical, and strategic.

  1. Strategic threat Intelligence: This is a high-level assessment and analysis of potential threats. It identifies who may be interested in attacking an organization or companies within its industry, as well as their motivations. This information is presented to the executives in the form whitepapers, reports, and presentations. It explains how the organization should respond.
  2. Tactical Threat Intelligence: This information focuses on the tactics, techniques, and procedures of cybercriminals and how they might target an organization. This is technical information that is presented to IT professionals with the aim of helping them to put in place defenses to prevent attacks.
  3. Operational Threat Intelligence:This information is gleaned from active hacking, cyber honeypots (traps that entice hackers into divulging their methods) and data shared with third parties. It contains highly sensitive data like URLs, file names, hashes, and domain names. This information can be used to prevent attacks and limit damage.

You can use enough information and planning to implement the tools you need to monitor certain behaviors and respond effectively to an incident.

Cyber threat intelligence: Why use it?

Many service providers have cyber threat intelligence analysts on staff who can work with your IT or cybersecurity team to develop a plan for your business. The service will assess your business and provide you with information about how to prevent them from becoming a problem.

Anyone who takes care of your network will be armed with this information and can make the necessary adjustments.

Cyber threat intelligence is a tool that can help you determine if your company has been affected by cyberattacks. Intelligence analysts can use indicators of compromise to determine if your systems are infected with malware. If left unchecked, this could result in sensitive data being stolen, corrupted, or ransomed.

Spyware is a common type of malware that can be installed without your knowledge on your computer to gain internet usage data and other sensitive information. This could include credit card information, personal information of customers and employees, or any other valuable information.

Malware can be a problem for any company. Ransomware, a type of malware that locks down systems and demands payment in order to gain access to them, was used in multiple attacks in 2021. Ransomware is a type of malware that locks down systems and demands payment to unlock them. It was used to shut off Colonial Pipeline, creating a gas shortage along the East Coast.

Ransomware attacks can be extremely costly. According to the National Security Institute, the average ransom payment rose from $5,000 in 2018 up to $200,000 in 2020. This is a 40-fold increase.

What to do when you discover a cyberattack

It is crucial to act quickly if you find out that your company has been attacked. These steps should be taken immediately.

  1. Organize your incident response team. These may include your IT and network personnel, software and outside IT vendors. HR professionals are responsible for employee data compromises, legal counsel in the event of intellectual property thefts, and operations managers in the case where ransomware has halted operations.
  2. Protect the systems. This could be done temporarily or permanently depending on the severity of the breach.
  3. Investigate the incident. To determine the extent of damage, mobilize a team of technical experts and external experts if necessary.
  4. Protective measures and countermeasures should be implemented. These could include changing passwords, strengthening firewalls, installing data encryption and removing malicious codes. Employees who were complicit should be fired. Law enforcement should also be alerted.
  5. Review your cybersecurity measures and determine where you can improve or strengthen them.
  6. Find out if your company insurance policy covers losses and file a claim.
  7. Report the attack the appropriate regulatory body, if needed.
  8. If customer data was compromised, Manage your public relations Find out more about and how to create a press release.

Providers of cyber threat intelligence

A cyber threat intelligence company may be a good option if your small business relies on the internet for its operations or if your sensitive data is stored in a local network that is connected to the internet.

These options will help you choose a vendor.

  • Mandiant provides cybersecurity consulting and threat intelligence to large companies. There are more than 1,000 experts and analysts available to help you find information from different sources. This company is a good choice if you deal with sensitive information such as financial, classified, or health data.
  • IBM X-Force is the cyber threat intelligence solution for major hardware companies. IBM X-Force is a threat intelligence-sharing platform that enables peer collaboration and research on threats. It is similar to Mandiant and is suited for larger companies who require a comprehensive intelligence program.
  • The Anomali ThreatStream platform for threat detection, investigation, and response helps you to understand your cyber adversaries through intelligence collection from premium feeds. The Anomali Preferred Partner Store (APP) allows you to purchase additional intelligence. Anomali uses machine learning to improve the effectiveness of its threat intelligence platform, and decrease the number of false negatives.
  • CrowdStrike Falcon Insight is a platform for cyber intelligence for small businesses. It continuously monitors your network and detects suspicious activity. It can also track and uncover details of attacks to ensure that they are addressed effectively. It does not disclose its pricing but offers a free trial.

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