Cyber Security – a Different Approach

What is CyberSecurity?

CyberSecurity is about identifying the risks in your organisation and mitigating them. It’s installing security software in your network. It’s about configuring it properly. It’s making sure your business processes protect against Cyber-attack. It’s educating staff to understand Cyber threats and how to avoid them. Protecting sensitive information, such as customer data. Protecting Mobile phones, tablets and printers. It’s also about physically protecting equipment.

CyberSecurity is not simple.

CyberSecurity is constantly changing. Every day new ways to hack your business are discovered. Staying on top requires specialist expertise dedicated to defend against Cyber criminals.

CyberSecurity can be very expensive and disruptive for businesses to deploy and manage.

CyberSecurity & General Data Protection Regulation (GDPR)

With GDPR penalties up to €20m (or 4% of global revenue) businesses can no longer take a chance with CyberSecurity. It’s no longer safe to leave customer data on an unencrypted laptop which can be stolen from the backseat of a car. Mobile phones and laptops must always have the latest software and security. Network access must be limited only to authorised devices with approved software. USB ports must be locked down – for example, only USB memory sticks authorised by the company will work. Handling of all customer data must be managed with staff access restricted based on need-to-know.

The Traditional Approach to CyberSecurity

Traditionally, consultants analyse an organisation, identify CyberSecurity risks, and mitigate critical risks. Mitigation involves securing existing technology, deploying new security technology, implementing processes ensuring management control and educating staff on CyberSecurity risks. Dedicated staff within the organisation repeat this exercise regularly, each time improving and tightening CyberSecurity controls.

But this is a very expensive, time-consuming and disruptive undertaking for any organisation. Every time a new risk is identified, the organisation must research, test and deploy new technologi

CyberSecurity Case Study

The team behind ThorsNet also created the FinTech startup moQom. moQom used Mobile Network Operator data to deliver Fraud Prevention & Identity services to banks. But having developed award wining technology, moQom was faced with passing CyberSecurity audits for the major global banks before banks would deploy its technology.

The lack of off-the-shelf specialist security products meant moQom took the project in-house. The final project cost was €696k, a burnt-out team and 1 painful year of disruption focussing on security not core business.

An additional €210k annual maintenance cost meant the total CyberSecurity cost for the team of 17 was €26k per user per year (split over 3 years).

moQom isn’t unique in the CyberSecurity challenge it faced. The General Data Protection Regulation (GDPR) means every business must protect its data. It doesn’t matter if the business is a FinTech start-up or a local gym, the exact same rules apply. But clearly the cost and effort places effective CyberSecurity out of reach of most Small & Medium Enterprises.

There had to be a better approach!

ThorsNet – Affordable CyberSecurity

ThorsNet is a spinoff from moQom Ltd where all of the moQom CyberSecurity network & technology has been transfered into ThorsNet. The result is a business dedicated to providing ready-made CyberSecurity products at reasonable prices.

Rental Model

ThorsNet provide affordable, pain-free, secure Infrastructure-as-a-Service (IaaS). Organisations simply rent off-the-shelf products such as secured laptops, secured Wi-Fi, mobile device management or managed secure hosting as needed.

Deploy CyberSecurity gradually

Organisations need only provide CyberSecurity to critical staff (accounts, sales, CEO, etc) as and when needed. There is no need to spend small fortunes securing the entire organisation at once. Rollout now fits within the natural IT spend – only replace infrastructure, such as laptops, as it fails.

CyberSecurity includes IT Support

Businesses must have some form of technical support anyway. Wouldn’t it be great if a typical small-medium business (~30 staff) could access secure infrastructure, complete with IT support helpdesk, at less than the cost of one support engineer?