Why Your Business Needs Modern EDR and SOC Solutions
There was a time when IT security for business owners was mostly centered on firewalls and antivirus software. To a certain extent, this was a sensible solution because information security in those days was mostly preventative, but this is no longer the right approach. The modern cyber threat climate requires solutions that are reactive.
It is virtually impossible for business owners to avoid cyber-attacks these days. You would need to completely disconnect your office network from the internet and keep it that way to make it nearly 100% secure. Once the network is connected to the internet, it becomes fully vulnerable to a wide range of attacks that are far more sophisticated than what antivirus software and firewalls can protect against. The cybercrime groups and hackers who are active today are the kind who know how to effectively bypass firewalls and antivirus solutions.
Understanding EDR + SOC Solutions
A combination of EDR with SOC is what business owners need to secure their operations. EDR stands for endpoint detection response; you may also see it referred to as EDTR, which stands for endpoint detection and threat reaction. Endpoints are devices that connect to an office or cloud network; they can be desktops, laptops, smartphones, tablets, printers, routers, and even IP security cameras. Notice the “R” for response and reaction: This lets you know that the solution aims to react instead of prevention.
SOC stands for security operations center. Active monitoring is an important function of EDR; when cyber-attacks, threats, suspicious activity, or major risks are detected, the EDR notification system will reach the SOC at the same time it takes automated actions to mitigate the issue. SOC technicians can act when needed, and they can also analyze the situation so that it does not turn into a disaster. All this takes place in real-time.
For the most part, EDR solutions are installed within physical and cloud networks along with various tools for automated fixes. The SOC can be part of the in-house IT department if there is one; however, it is more common for SOC to be part of remote managed services provided around the clock by dedicated specialists like you will find here at SynchroNet.,/p>
The Pressing Need For EDR and SOC
According to a 2022 report published by IBM, the average cost of major ransomware attacks has climbed to $4.5 million, but this does not include payments made to hackers to mitigate losses . In many cases, businesses lose more than the ransom payment because more money is required to restore the network plus business operations.
Even older reports published by Symantec McAfee show $1.4 billion spent in ransom payments in 2017. These are only payments made to hackers in exchange for the decryption key to liberate data; they do not consider losses related to leaked files or remediation.
The bottom line of EDR + SOC as a cyber security strategy is that it conforms to the real needs of modern business operations. As previously mentioned, firewalls and malware scanners no longer cut it in the current cyber threat environment, and this is because of how much hackers have been able to advance the methods used to ply their wicked trade. In the specific case of ransomware attacks, many of them are highly targeted through what is known as advanced persistent threats, which means that victims are often systematically targeted for months.
A ransomware attack may begin with port scanning so that hackers can determine if the network can be breached. If this does not work, they may try other methods such as remote code injection, phishing, Trojan horse attacks, or social engineering. Once the network is breached, it may take weeks or months for the attack to proceed to the malicious data encryption, blackmail, and ransom stages. Depending on the modus operandi of the attackers, they may develop a custom rootkit or use stolen data to their advantage before presenting the ransom demand.
An EDR system may be able to stop the attack at the port scanning stage if the actions are deemed to be suspicious; this is done automatically, but the SOC team members are alerted so that they can reconfigure the network if needed. Should hackers start sending phishing emails, the EDR may be able to flag them and contain them until the SOC takes a second look.
For most companies with small IT departments, EDR + SOC is the most adequate solution not only because of the high level of cyber security it provides but also because it can be obtained through flexible contracts with reasonable monthly payments. Moreover, the level of SOC vigilance can be adjusted to meet specific security needs.