How Mandatory Reporting will change data management
Posted on November 30, 2017
Data is fast becoming one of the most precious commodities any business holds. Which is why it’s become a target for cyber criminals, highlighted by the Petya and WannaCry ransomware attacks in the last year.
These breaches saw hundreds of thousands of businesses across the globe hit hard, with their systems locked down until a fee was paid to these criminals.
But these front door attacks aren't the only way hackers are attempting to reach business data—they’re also going for the backup information that is used in disaster recovery.
That is why it is important to secure both your frontline systems and your backup methods, to ensure complete security for your business.
Cyber attacks on the rise
Experts are predicting that cybercrime will cost Australian business $16 million over the next 10 years.
The rise in malicious attacks is already at our doorstep, with cybercrime instances doubling in 2016—with almost 60 per cent of businesses reporting a security incident.
The 2017 Harvey Nash/KPMG CIO Survey revealed that 31 per cent of Australian IT leaders reported their organisation had been subject to a major cyberattack in the past 24 months—a rise of 107 per cent on 2014.
This has led to a range of initiatives being put in place by the Federal Government, including mandatory data breach reporting and a military grade team that can attack the hackers before they strike.
Hackers turn attention to backup data
Backing up data is critical to ensure your business can recover quickly from a malware, ransomware or Distributed Denial of Service (DDoS) attack.
But having this data housed on the same system or servers as your local network can mean they are just as likely to be attacked as your frontline systems.
This means storing your backup data in the cloud is the safer option, as it is stored separate from your local server and there are a raft of security measures that can be put in place to protect it.
How Cloud Backup as a Service can assist
Cloud Backup is a cost efficient and reliable way to securely store your backup data. Through this method, your data is housed in enterprise-standard data centres and transmitted through a secure, private connection.
It’s also an end-to-end process, which gives you full control over your backup and recovery processes. The security is high end, with encrypted data transmission and a highly resilient storage environment that is monitored around the clock by specialists.
You monitor your backup data through an application and can initiate a system restore in mere minutes.
Firewall as a Service offers additional security
To further strengthen the backup process, you can install a Cloud Firewall to beef up the security of your outward facing network connections.
This firewall sets up rules for what can and cannot access the network, meaning any intrusions would be blocked before they could even access your network.
With cybercriminals ramping up their attacks on Australian businesses, as well as the mandatory data breach notification legislation to roll out in 2018, data security has never been more important.
Using methods like Vocus Cloud Backup as a Service, and Firewall as a Service, can give you the peace of mind you need to ensure your backup data is stored securely.
Want to learn more about protecting your business from cybercrime? Contact us to learn more about Vocus Firewall as a Service and Cloud Backup as a Service.