As the threat landscape evolves, so too must a company’s threat intelligence program. Cyber attacks have become more targeted, complex and frequent, and as a result, threat intelligence teams have become overwhelmed with the amount of data and alerts that are associated with “intelligence”. To be effective in identifying and mitigating real threats, you need a platform that enables your team to cut through the noise and take action on the threats that matter. Yet, many organizations have settled for first-generation technologies.
Here are 6 key signs that you might be using a first-generation tool, and therefore, is time to upgrade your threat intelligence platform.
1. Generic, Irrelevant Alerts
You might think it’s valuable to know about each and every threat under the sun. However, this is the best way to get quickly swallowed by a mountain of information. Instead of focusing on all threats, you need a way to identify the threats that specifically impact your company and your customers. Many first-generation tools simply feed in general IOCs and alerts, which causes cyber security teams to become overwhelmed and distracted from the real issues.
You need to focus on the threats that directly relate to your organization and your customers. Your threat intelligence solution should only alert you if a threat is relevant, and should contain context so you can quickly and easily understand how you are impacted by that threat.
2. You Spend More Time Looking for Where to Act Than Acting
Time is of the essence when it comes to cyber threats. The faster you can act, the lower your risk. If your team is spending too much time looking for where to act, rather than acting, your cyber risk is significantly increased.
Many first-generation solutions produce generic alerts (discussed above), which puts the responsibility on the analyst to figure out if the alert is relevant or not. This can be critical time lost that’s not spent taking security action and working to resolve exposure risks. Your threat intelligence solution should enable action, not delay it.
3. Minimal Automation
Like we discuss above, taking action is critical in protecting against cyber threats. Automation is key to helping you reduce the time to mitigate, and ultimately, reduce your cyber risk. If your solution doesn’t have robust integrations and automation through policies, you’re missing a huge opportunity to significantly reduce the time it takes to mitigate threats. For example, if leaked credentials are found online, integrating that intelligence with Active Directory to automatically reset passwords for those users allows you to quickly mitigate that threat with no human involvement.
Again, your solution should enable action, not delay it. Automation is a critical component of taking quick and appropriate security action, and should be a core component of your threat intelligence platform.
4. Lack of Customer and Brand Focus
A common trend among cybercriminals is to attack a company’s customers, rather than attack the company directly. It’s a lot easier to trick an unknowing consumer than get through corporate cybersecurity defenses. As a result, threat actors are using social media sites, mobile app stores and phishing tactics to impersonate a company online and exploit their customers.
Even though these strategies don’t attack companies directly, they still have an obligation (and financial interest) to protect their customers from fraud and retail scams. Therefore, your threat intelligence shouldn’t just focus on threats that target your company. It should be able to identify and takedown threats that leverage your brand reputation to target your customers.
5. No Fraud or Scam Detection
Cyber fraud is a massive business for cybercriminals. As more transactions have moved online, it’s become increasingly easy to commit cyber fraud through stolen financial information or leaked login credentials. Although consumers are often at fault, it’s the companies who are forced to pay for this fraud.
Reducing successful fraud attempts by just 10% can save a company millions of dollars each year. While many organizations have a dedicated Fraud department that handles these issue, the lines are blurring. Cybersecurity teams need to help Fraud teams thwart fraud attempts and cyber scams. Therefore, your threat intelligence solution should enable you to identify these scams and help takedown the tools hackers use to carry out their fraud.
6. Unable to Assess 3rd Party Cyber Risk
Your attack surface doesn’t just include your own tools and assets. 3rd party vendors and partners are a key part of your digital ecosystem (aka digital footprint), so you need tools in place that help you assess and manage 3rd party cyber risk so you can reduce your exposure to threats.
Just like with fraud, many companies have a department dedicated to managing risk. Again, the responsibilities between the Cybersecurity and Risk departments are blurring. For example, a company might be considering an integration with a new technology vendor. As part of the risk assessment process, you need to consider the cyber risk associated with that vendor, because integrating them into your ecosystem will give hackers new attack vectors to use when targeting your company. Your threat intelligence solution should be able to assess 3rd party cyber risk so you can support the Risk department with cyber intelligence for an outside organization.
When it comes to protecting your organization, you’re only as good as your intelligence. You should constantly be evaluating your solution to ensure it’s providing you with actionable, relevant intelligence so you can properly defend your company and your customers. Don’t put your organization at risk and get caught with a first-generation technology that has fallen behind the market’s needs.
If any of these signs sound familiar, you might be interested in registering for our webinar to learn how the right threat intelligence solution can help you save money and reduce your overall cyber risk. We hope to see you there.