A Security Operations Center (SOC) is a centralized function within an organization employing people, processes, and technology to continuously monitor and improve an organization’s security posture while preventing, detecting, analyzing, and responding to cybersecurity incidents.
A SOC acts like the hub or central command post, taking in telemetry from across an organization’s IT infrastructure, including its networks, devices, appliances, and information stores, wherever those assets reside. The proliferation of advanced threats places a premium on collecting context from diverse sources. Essentially, the SOC is the correlation point for every event logged within the organization that is being monitored. For each of these events, the SOC must decide how they will be managed and acted upon.
Tri-Paragon’s SOC as a Service (SOCaaS) provides 24/7 monitoring, detection & auto-response for cloud, applications, IoT & end points.
Our Managed Security services were built with the ELK Stack (Elastic, Logstash and Kibana) as the foundation for our machine learning technology.
Based upon research by PACKETLABS (https://www.packetlabs.net/cybersecurity-statistics-2021/) many organizations are faced with 4 difficult cybersecurity challenges.
In 2020, 43% of C-Suite business leaders who reported a data breach cited human error as the second major cause, and the average cost of such data breaches was $3.33 million. The first major cause of a data breach was the deliberate theft or sabotage by external vendors. No matter the source, it took an average of 239 days to identify and contain such breaches.
In Canada, 25% of organizations experienced a breach of customer and/or employee data. And yet, only 36% reported cyber crime, down from 58% in 2019. The average total cost of a data breach was US$4.5 million, a 6.7% increase over 2019. Over 90% of breaches were financially motivated; organized crime groups were responsible for 80% of them.
In 2021 85% of breaches involved a human element, 61% were due to stolen or compromised user credentials, and social engineering was observed in over 35% of incidents.
Phishing scams are becoming increasingly common because they leverage an asset that billions of people use daily: email. Phishers take advantage of the lack of cybersecurity awareness to get victims to click on malicious links or open malicious attachments. The general lack of awareness is why phishing scams have remained among the top action varieties since 2019. In 2020, 22% of data breaches involved phishing. In 2021, this cybersecurity statistic climbed up to 36%. Between 2019 and 2020, the number of organizations that experienced a successful phishing scam increased from 55% to 57%. In Q4 2020, 74% of scams used HTTPS sites to perpetrate phishing scams.
Early morning call tricks victims into revealing credit card info
Malware, especially ransomware, is an increasingly serious problem for organizations. In the first three quarters of 2020, ransomware was involved in 21% of reported breaches, contributing to the exposure of 11.2% unknown data types and 10.4% known data types. In 2021, the ransomware industry is worth $14 billion. The increasing frequency and impact of ransomware attacks are not the only critical cybersecurity statistic. Another huge problem is the increasing frequency with which victims are paying the ransom. In 2020, the total ransom amount paid increased by 311% over 2019 to reach nearly $350 million. Further, the number of ransom-paying organizations increased from 26% in 2020 to 32% in 2021, but only 8% got all their data back. Yet another ransomware-related issue is the increasing cost of downtime. Between 2018 and 2020, the average cost of ransomware-caused downtime (per incident) has increased from $46,800 to $283,000 (7 times). In 2021 and beyond, a business will fall victim to a ransomware attack every 11 seconds, and ransomware damage costs will rise to $20 billion – 57 times more than in 2015.
Our Security Operations Center as a Service (SOCaaS) is built on advanced machine learning that detects attacks before they happen. Reacting to threats isn’t our thing; we predict and stop them before they happen. We offer continuous threat intelligence that your organization will thank you for. You don’t have time to analyze every risk factor, so we do it for you. We monitor every one of your cloud and endpoints faster, with a 95% true positive rate.