Jeff Yastine has some good ideas for protecting companies from cybersecurity attacks. He says that the let them in strategy may be a good idea for companies. You see, the problem is that companies often do not do enough to prevent cyber attacks. Many of them think that it cannot happen to them and so they do not put in adequate safeguards. Many other companies do put in safeguards, but they are doing it the wrong way. For example, they may put up a firewall and other safeguards that aim at keeping the hackers out. However, the problem with this strategy is that hackers will always find new ways to exploit defense systems and come up with ways to infiltrate them.
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The fact of the matter is that most of the damage is done only after the hackers enter the system. Many people do not think about this and only focus on keeping the hackers out. However, as mentioned, that often turns out to be quite futile. Instead of doing that, you should allocate some of your cybersecurity resources, or perhaps even most of them, towards preventing damage once a hacker does enter your system. You have to focus on damage control and mitigation, or else you will end up like Equifax, where the hackers stole all their data two to three months after they got in. They had the time to secretly work, undetected, and steal the data. You have to make sure that this does not happen and that hackers will never go undetected. Then you can boot them from your system once they do enter before they manage to get any damage done. Read more about Jeff Yastine at Bloomberg
The fact is that if you only focus your efforts on keeping hackers out, then you will never know if hackers secretly are inside your system, like if they somehow got in undetected by manipulating the system so that they do not send off any red flags. That is why monitoring your systems is so important. Instead of building a fortress, which can be breached, build a surveillance network so that you immediately detect when someone is inside your building. Harvard Business Review recommends the same thing. If your end game is to prevent something bad from happening, then know that the correct way to do it is to monitor for bad things that are happening.
Jeff Yastine is the editor of Total Wealth Insider at Banyan Hill Publishing.