More and more, businesses and individuals are moving into a digital landscape. The opportunities seem boundless and every day new developments are made. However, alongside the potential comes risks to you and your business. With terrain that many find bewildering, how can you ensure your business is protected?

How are you protecting yourself from changing cyber threats?

The growing risk of cyber threats

Business leaders in advanced economies perceive cyberattacks as the cause of greatest concern when it comes to global risk, according to the 2018 Global Risks Report created by the World Economic Forum. The threat is ranked above terrorist attacks, asset bubbles, and the failure of making changes to deal with climate change.

Malicious hacking can damage your company in many different ways, from leaking confidential and valuable information, causing reputational damage, and costing you money. In fact, to deal with the impact hacking has on the economy, Australia has introduced a set of regulations to do with cybersecurity. Called the Notifiable Data Breaches act, it's applicable to any company or organisation with an annual turnover greater than AUD $3 million.

This is why in-house cybersecurity testing is so important for your business, no matter where you are on your digital transformation.

Could ethical hacking be a solution?

What is ethical hacking?

The only difference between hackers and their ethical counterparts is the purpose behind the endeavour.

Hackers aim to access your company's information for their own use. Ethical hackers, while employing all the same techniques and tactics, seek to identify the weaknesses in your cybersecurity, and develop countermeasures to strengthen them. Certified and legally entitled to use their skills for going about this, they are permitted by your business to hack the company. Employing an ethical hacker is an effective way to test your cybersecurity in-house.

Ethical hacking uses malicious tactics to benefit and strengthen your company.

The different methods of ethical hacking

When a certified individual ethically hacks your business, they have a range of tactics to choose from, depending on what your company wants to achieve.

In a vulnerability assessment, they test your company's software, identifying weak areas and assisting developers in understanding the flaws and how to fix them.

Penetration testing goes beyond this. Not stopping at just identifying the flaws, ethical hackers attack your company's system, network, or web application to find access points and work to break through them. They collect information on your business and come at your company using many different strategies. For in-house cybersecurity testing, many popular penetration testing tools are available for free online.

A social engineering test looks at the physical infrastructure - the staff of your company. Whether it's noticing certain habits that a hacker could manipulate, or sending out clever phishing emails, social engineering testing helps make sure employees are active participants in cybersecurity.

Using ethical hacking to test your cybersecurity in-house, or hiring an external contractor to do it for you, can help your business face one of the greatest concerns when it comes to global risk. If you'd like to know more about cybersecurity or how to manage your digital transformation efficiently and carefully, contact FinXL today.