What the Heck is a (v)SOC anyway? (and why should YOUR small business care)

Let’s start with the acronym SOC

Security Operations Center. A SOC is generally a team of highly trained cyber security professionals whose job is to monitor an organization's security and respond to and investigate alerts of malicious activity.

SOC analysts use multiple tools to ensure email security, endpoints such as user computers and servers, and network appliances in larger companies. If some of these technologies seem foreign, just know that a SOC ensures that every entrance and exit to the internet is covered with security similar to your house having alarms and sensors to detect a physical intrusion. SOC’s deploy agents to devices to monitor their activity for malicious behavior.

It is easy to see why this is so important to large corporations such as large retailers or banks. These organizations have thousands of employees. One misstep or wrong click can allow an attacker into their network and steal intellectual property, money, or do damage, depending on the attacker's motives. 

Attackers have many different motives that lead them to try to breach companies and individuals. These motives span political, activism, and simple greed, with greed being the most prolific. There isn’t an industry out there without cyber criminals trying to scam money either by exploiting vulnerabilities in software or hardware or by traditional scammer tactics of phone calls and messages.

A “vSOC,” or “virtual” SOC, is just that. It’s a security operations center that is not onsite but monitors protected devices and responds remotely.

You may believe you’re immune to this issue if you have a fairly small business. However, cyber attacks on small businesses are on the rise. Small businesses are increasingly becoming targets of cyber attacks, with devastating consequences. According to recent statistics by the Identity Theft Resource Center (ITRC), nearly three-quarters (73%) of US small business owners reported a cyber-attack last year, with employee and customer data most likely to be targeted in data breaches.

Why Small Businesses are Vulnerable

Small businesses are often more vulnerable to cyber attacks due to their lack of preparedness and limited resources. Many small businesses fail to use data security software and other security measures, making them an attractive target for cybercriminals. Additionally, small businesses may not have the budget or expertise to implement robust cybersecurity measures, leaving them vulnerable to attacks.

Consequences of Cyber Attacks

The consequences of cyber attacks on small businesses can be severe. In addition to financial losses, small businesses may also experience damage to their reputation and loss of customer confidence. According to one report, 60% of small businesses that suffer a cyber attack go out of business within six months. The average cost to recover from a ransomware attack is $84,000, which can be a significant burden for small businesses.

Types of Cyber Attacks

Small businesses are vulnerable to a range of cyber attacks, including:

• Phishing attacks, which aim to trick employees into revealing sensitive information

• Malware attacks, which can compromise business data and systems

• Ransomware attacks, which demand payment in exchange for restoring access to data

• Social engineering attacks, which use psychological manipulation to trick employees into divulging sensitive information

Protecting Your Small Business

To protect your small business from cyber attacks, it is essential to take proactive steps. This includes:

• Implementing robust cybersecurity measures, such as firewalls, antivirus, or endpoint monitoring service (such as a vSOC)

• Educating employees on cybersecurity best practices and the risks of cyber attacks

• Regularly backing up data and having a disaster recovery plan in place

• Conducting regular security audits and penetration testing to identify vulnerabilities

Conclusion

Cyber attacks are a growing concern for small businesses, with devastating consequences. By understanding the risks and taking proactive steps to protect your business, you can help prevent cyber attacks and ensure the continued success of your organization.

If you would like to check and see if your small business is a good candidate for continuous monitoring and vSOC services, feel free to reachout to info@hackerhaus.io for a free scoping call!