Can Your Organization Afford the Average Cost of a Cybersecurity Breach?

6.75 million CAD – that’s the average cost of a cybersecurity breach according to IBM’s 2024 report. Cybersecurity is no longer a luxury—it’s a necessity. Yet many businesses, especially small and medium-sized enterprises (SMEs), still underestimate the financial repercussions of neglecting their cybersecurity. The full costs of a data breach can be staggering and are only going up. Beyond the obvious expenses, there are hidden costs that can cripple an organization. Let’s explore the critical financial impacts of failing to prioritize cybersecurity.


1. Direct Financial Losses

One of the most immediate consequences of a cybersecurity breach is the direct financial losses that result from the attack itself. These can include:

Ransomware Payments: Cybercriminals encrypt a company’s data and demand payment to restore access. The average ransom demanded is increasing year over year, and many businesses find themselves forced to pay the ransom with no guarantee that their data will be fully restored.

Theft of Funds: Cyber attackers can exploit weak security systems to access financial accounts, draining funds or committing financial fraud. This type of attack can be devastating for organizations that do not have adequate protections in place.

System Downtime and Recovery Costs: A successful attack often disrupts daily operations, leading to lost revenue from downtime. Recovery efforts, including forensic investigations, system restoration, and hiring external consultants, can also be incredibly costly.

2. Legal and Regulatory Penalties

Data breaches often involve the exposure of sensitive personal information, which can result in significant legal and regulatory penalties:

Non-Compliance Fines: Many industries are subject to stringent regulations that mandate cybersecurity practices, such as PIPEDA (the Personal Information Protection and Electronic Documents Act). Failure to comply with these regulations can result in hefty fines.

Class-Action Lawsuits: Victims of data breaches, including customers whose information was compromised, can file lawsuits against businesses. These legal battles not only result in financial settlements but also require costly legal defense.

3. Reputational Damage

The financial consequences of a cybersecurity breach extend far beyond the immediate expenses of recovery and legal penalties. Reputational damage can have long-lasting effects on a business’s bottom line:

Customer Trust: Once a business suffers a data breach, customer trust is eroded. According to a survey by PCI Pal, 58% Canadian consumers pause their spending at a company that has recently had a data breach, with 20% abandoning the company outright.

Stock Value: For publicly traded companies, news of a data breach can lead to a sharp decline in stock prices. Investors often lose confidence in companies that fail to secure their systems, resulting in a decrease in market capitalization that can take years to recover from.

Brand Damage: Rebuilding a tarnished brand can take significant time and resources. Companies may need to invest in public relations efforts, marketing campaigns, and cybersecurity upgrades to reassure customers and rebuild their brand’s image.

4. Hidden Costs

While direct losses, legal fees, and reputational damage are often the most visible costs of a cybersecurity incident, there are numerous hidden costs that businesses must contend with:

Insurance Premiums: Many businesses rely on cybersecurity insurance to help mitigate the costs of an attack. However, after a breach, companies may face significantly higher premiums, making insurance more expensive in the future.

– Loss of Intellectual Property: Cybercriminals don’t just target customer data—they may also steal intellectual property, such as proprietary information, trade secrets, and product designs. The loss of valuable intellectual assets can affect a company’s competitive edge and lead to long-term financial consequences.

– Increased IT Costs: After a breach, businesses often need to invest heavily in upgrading their cybersecurity infrastructure to prevent future attacks. This might involve investing in more IT services and support, purchasing more robust cybersecurity tools, and conducting regular security assessments—all of which increase operational costs.

5. Opportunity Costs

Opportunity costs represent the potential revenue and growth a business loses due to a cyberattack. When companies are focused on responding to a cybersecurity incident, they often delay or cancel other initiatives, such as product launches or expansions into new markets. This diversion of resources hampers innovation and growth opportunities, reducing overall profitability.

 

6. The Cost of Prevention vs. Recovery

One of the most compelling financial arguments for investing in cybersecurity is the stark contrast between the costs of prevention and recovery. According to IBM’s 2024 Cost of a Data Breach report, the average cost of a cybersecurity breach is steadily increasing. Between 2023 and 2024, the cost rose 10% year over year. In comparison, investing in robust cybersecurity measures—such as multi-factor authentication, endpoint detection and response , backups, employee training, and regular security audits—is significantly more cost-effective.

By proactively securing systems, businesses can avoid the devastating financial impact of a breach. Preventative measures reduce the likelihood of successful attacks and can provide a faster, more effective response if a breach does occur.

 

Conclusion

Neglecting cybersecurity is no longer an option for businesses of any size. The financial consequences of a breach—from direct losses and legal penalties to reputational damage and hidden costs—can cripple even the most resilient organizations. By investing in comprehensive cybersecurity measures, businesses not only protect themselves from potential threats but also safeguard their financial health and long-term success.

In an era of increasingly sophisticated cyberattacks, the question isn’t whether your business can afford to invest in cybersecurity—it’s whether you can afford not to.

Are your cybersecurity measures in need of an upgrade? Reach out to our experts today and learn how IT Weapons can help transform your digital defense.

 

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World Backup Day: 4 Questions to Ask Yourself About Data Backups

World Backup Day: 4 Questions to Ask Yourself About Data Backups

As cyberattacks increase yearly, the reality is that today’s data is constantly at risk and losing that data is always a frustrating and costly ordeal. Just how dire is this situation? The World Backup Day website paints a grim picture:

Unfortunately, most of us are not backing up with the required frequency to mitigate severe data loss. In fact, up to 40-60% of small businesses won’t reopen after a critical data loss incident.

There’s no better time than now to take steps to protect yourself. As you read through the following questions, think about your situation. If you don’t have confident answers to these questions, it may be time to take action – before the next critical incident occurs.

How regularly is my data backed up?

How often you backup depends on several factors, such as the importance of the data on your systems, how quickly you need to restore it, and your working schedule.

Perhaps the most critical aspect is how often your data changes. Nowadays, nearly everyone creates new information daily, whether for social media, news outlets, databases, or company websites – underscoring the need for more frequent backups.

For example, suppose you are self-employed or part of a smaller organization. In that case, you could do with performing a full backup each day and partial backups every couple of hours. If you are in an enterprise and deal with large volumes of information, this frequency is likely shorter. At the end of the day, it’s about finding a schedule that works best for you and adhering to it regularly.

Are my backup locations diverse enough?

There’s an age-old warning against placing all your eggs in one basket, which goes doubly for backups. When considering backup locations, your options typically fall into three separate categories:

Local: A drive that you can easily retrieve at a physical location. It can be easily accessed and controlled but is vulnerable to loss or damage.
Cloud/Offsite: An online backup service or drive stored in a separate and secure location. It is easily accessible from anywhere and is more resilient to breaches. However, these can be somewhat complex to secure and are vulnerable to error if you aren’t monitoring the health of your backups.
Offline: An online backup service or drive disconnected from a network or system and placed in a different location. This type of backup is still vulnerable to loss or theft, hardware damage from the environment (e.g., floods), and technological failure.

Today, many turn to the cloud to back up their data because of better costs, a lower risk of backup damage, and an automated backup schedule. However, to ensure that your data is most readily available, it’s a good idea to have a mix of all three types.

Do my backups work, and can they be quickly restored?

There’s nothing worse than needing to recover only to find out your latest backup doesn’t function properly. You should never assume your backups are good. There are many factors that go into backing up data, like cloud security, the quality of the external drive, and overall data management practices.

In your testing, you should have an idea of:

Data backup and restoration time: how long does it take you to backup AND restore a given amount of data, like all your financial records, client data, or documents?
Application backup and restoration time: how long does it take you to backup and restore a critical business application, like your ERP or sales system?
Offsite restore time: If your data is in the cloud or remote location, how quickly can you retrieve that information? What happens if that location is unavailable due to technological or physical disruption (e.g., floods, electrical malfunction)?

You should be testing restores according to a schedule, like with backups. How frequently you do this depends on your needs and how often your data changes, but aim for at least a quarterly review.

What is my data recovery plan?

While they are critical, it’s important to remember that data backups are simply the process of copying and replicating data. They’re not a substitute for a solid data recovery plan. They will be of little use if you get cut off from critical applications such as email or billing systems.

When formulating a plan, you should have the following steps.

Identify crucial apps, data, and systems that would negatively impact you if you lost access.
Examine different scenarios, focusing on main priorities and recovery goals.
Create a communication plan, so everyone is on the same page.
Write down your plan, with instructions on containment, repair, and ongoing monitoring for issues.
Test and evaluate. Don’t be afraid to modify!

IT Weapons – Your Partner in Data Protection

If this sounds complicated, you don’t have to worry.

At IT Weapons, we offer a variety of data protection and backup solutions that can help protect your data no matter where it’s stored. Our experts can help you create a disaster recovery and continuity strategy that fits your organization’s needs. Watch our latest Tech Tuesday on Data Backups to learn more.

With various options and a built-in disaster recovery solution, we can help ensure that your data is always secure.

Isn’t it time you felt safe?

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Password Security: 4 Ways to Keep Passwords Away from the Bad Guys

With all of the advancements made in recent years towards network and physical security, weak user passwords still represent a major open door into your systems.  Information security experts continue to note that while you can install advanced security solutions packed with AI and machine learning, there is still no easy fix for employees who just don’t give a hoot about password security best practices.

The Problem

A large majority of network intrusions and data theft begin with a leaked or uncovered employee password. Passwords can be revealed through a variety of ways, including:

Phishing email scams, where employees are tricked into entering private credentials
Weak passwords (i.e. password123)
Social engineering attacks, which aim to uncover information about your employees online
Poor security habits, such as writing passwords down on sticky notes

With password security being so important when it comes to protecting your business, IT leaders can often get overwhelmed by data leaks that are caused by poor security awareness. To make matters worse, social engineering attempts are getting smarter, making employee awareness even more critical for your overarching security program.

Another trend that has further complexed the password conundrum is a rise in Cloud based and Software-as-a-Service (SaaS) applications, which all require different passwords. On average, one individual has 25 accounts that require passwords in their life and enters a password in a system 8 times per day. This increased use of passwords has forced people into poor password habits, such as reusing passwords, using simple passwords, or writing them down.

“On average, password reset requests make up 10%–30% of all IT help desk calls.”

What Makes a Password Weak

While your company may set strong password policies that require a mix of letter, numbers, and symbols, employees still need to play a roll with password security.  Sadly, many employees simply do not. Below is a list of common phases, words, and concepts that employees use when creating passwords that they should avoid:

The word “password”
Numbers “123” in sequence
The current month
Kid’s name or Pet’s name
Street name
Spouse name

Furthermore, a lot of people use the same password for multiple sites, meaning that if your password is uncovered on one site, it is compromised for all of them.

How Can You Get Better?

Despite the struggles around password security, there is hope on the horizon. Below are three ways your organization can help employees keep passwords safe and your data secure.

Single Sign On

Single Sign On solutions, such as Okta, allow employees to use their regular computer password for multiple software as a service applications. Single Sign On methods not only make employees lives much easier, but they also can significantly improve your security practices by enforcing the same strong password policies that exist on your internal systems across other online applications.

How Single Sign on works and why it is useful.

Multi-Factor Authentication

While mildly annoying, Multi-factor Authentication (MFA) is a great security booster for your business. MFA requires a password and an additional credential (i.e. a code sent via text message, a key fob, thumb print, etc.) to access the application. By forcing a second access method, weak passwords are no longer a primary concern. While many executives find MFA annoying, it is definitely a strong solution against the problem of weak passwords.

“69% [of consumers surveyed by RSA and the Ponemon Institute] admit to using the same password for more than one device or site …”

Password Enumeration Tests

Want to find out exactly how bad your password problems are? Password enumeration tests are controlled tests where a trained security expert tries to brute force attack all of the passwords in your company. The results of the test will show you exactly where your problems are, such as common words and phrases used in passwords, how long it took to hack each password, and other common password problems your business may be facing.

Password Manager

Implementing a secure password management solution or repository is another great way to help your employees avoid poor password security practices. Passwords managers and other secure password repositories provide a secure, compliant, location for employees to store passwords, instead of writing them down, storing them in emails, or saving them on notepad files on their PCs. Password repositories are also great for any shared passwords that may be used by an entire team, as it again removes the need to share the password via unsecure channels.

Whatever you decide to use, remember that there is light at the end of the tunnel. Helping employees keep themselves, and your business secure, while still keeping them happy and productive can be challenging, but with the above methods, it can be done.

Passwords are only one piece of the puzzle when it comes to information security. Check out this handy Security Infographic to learn even more ways to keep your data safe.  

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IT Weapons, IT Services division of Konica Minolta Moves Up on the Prestigious CDN Top 100 Solution Provider 2023 Ranking!

Mississauga, ON (May 4, 2023) – Konica Minolta Business Solutions (Canada) Ltd., (Konica Minolta) today announced its IT Services Division, IT Weapons was once again named on the CDN Top 100 Solution Provider 2023 Ranking. The list celebrates the achievements of IT leaders who have blazed new trails and continue to break ground and dominate the market with their innovative products and services.

Each year, CDN creates a detailed snapshot of Canada’s leading IT solution providers, based on submissions provided by managed service providers, cloud solution providers, system integrators, and IT consultants from across the country.

“This award is a testament to the hard work and dedication of our team who has worked tirelessly to develop innovative IT solutions that have helped to transform the industry. I’m very proud to be a part of this community of talented professionals who are pushing the boundaries of what is possible,” said Mark DeFreitas, Regional Vice President, Managed IT.

For this year’s complete list of the CDN Top 100 Solution Providers 2023 Ranking, please click here.

Please click here for the full press release.

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User Security Awareness Training – Strengthening Your Frontline of Defence

User Security Awareness Training–Strengthening Your Frontline of Defence

As Canadians navigate the ever-expanding digital landscape, there is growing concern about cybercrime, with fraud and scams emerging as the most common threats. Cybercriminals, with their sights set on personal, financial, and corporate information, leverage the vast expanse of the Internet to conduct malicious activities such as phishing, leading to hefty financial losses.

Startling statistics from the Canadian Anti-Fraud Centre reveal over 150,000 fraud reports and a staggering $600 million stolen since January 2021. However, in this landscape of digital perils, ransomware stands out as the most disruptive cybercrime Canadians face. Ransomware goes far beyond the financial burden of ransoms by crippling critical systems, jeopardizing sensitive data, and afflicting profound damage to organizations.

Considering how these evolving cyber threats can impede access to essential services as well as endanger our physical safety, it is imperative to equip ourselves with user security awareness training.

The Purpose of User Awareness Training

The most challenging aspect of information security is your users – the one thing you cannot fully control.

Amateurs hack systems. Professionals hack people. — Bruce Schneier

Although many companies try to secure their environments, we still see many security issues resulting from poor password practices and a lack of general security awareness. In this area, some will argue, “But don’t they already know that?”  It’s true that many have a general understanding of security, but it only takes one who doesn’t to compromise an entire organization.

Evaluating Your Employees

The top malicious email attachment types are .doc and .dot which make up 37 percent; the next highest is .exe at 19.5 percent. (Symantec)

Do you know if your employees can spot common tell-tale signs of phishing emails? Would your employees download an attachment from an unknown sender? There are many ways to test your employees.

One method is to conduct phishing simulations. In this, your goal is to identify people who fall for the simulation so that you can better educate them about what they should look out for next time. You can also have a phishing banner appear, warning them with the details about the ramifications of an actual incident.

The Effectiveness of Good User Security Awareness Training

Usually, the initial round of this strategy is relatively successful at catching poor safety practices. A phishing simulation usually catches 20-40% of average, non-technical users. That means up to 40% of users can create a bad outcome for the organization.

Once training starts,  these numbers fall to about 10-15% in the first six months and 2-10% after a year. However, there are several reasons to continue the program after this point-even when phishing simulations no longer catch many users.

Staff turnover: ensuring new employees are getting the training they need.
Developing threats: having a regular training cadence ensures up-to-date knowledge.
Security first (most important): keeping safety at the forefront of the entire company’s consciousness.

Adopting a Security-First Mindset for Everyone

Why is this the most important? Consistent exposure to how attacks happen and how an attacker might choose their target helps develop an instinct. This sense allows a user to determine that something is amiss about a situation. It helps give employees a gut feeling about daily tasks without thinking about them.

A security-first mindset also helps stave off complacency. After all, an attacker can catch even the most knowledgeable user in a moment of weakness.

While users get caught because of a knowledge gap, the more likely scenario is that they were busy and just reacted to an email and clicked without thinking. It is far too easy to do. Small reminders to all staff are an effective tool for keeping your team vigilant and safe.

This truth rings true, especially for executive-level users. Even though their time is precious, their elevated access to information makes them a prime target for attackers and corporate spies. There should be no exception to the training regimen, not even for CEOs and Presidents.

IT Weapons can help you take a step forward into the new world of data security with a wide variety of security solutions and services to suit your needs.

If User Security Awareness Training is your next step forward

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Passwords? No, Passphrases. Your Ultimate Guide to Preventing Attacks: Part 1

Passwords, at least for now, run our lives. I’ve seen it with my own family where suddenly needing to change an email password, an Apple ID password, or even a Facebook password becomes a multi-hour long ordeal. We live in an age where an entire population segment didn’t grow up having to remember passwords, and thus are not used to having to recall them. On the flip side, there is a segment that is accustomed to needing to know and remember passwords for most of their lives. Unfortunately, bad habits were formed when it comes to password creation due to ease of use. As someone who works in Offensive Security, it is my job to think and make recommendations based on the perspective of an attacker. I often have to try and capture or crack passwords in my every day work – a challenging, yet scary task.

In this two-part blog, I step into the shoes of an attacker and explain how individual passwords, or potentially even entire databases, are obtained. But, I won’t leave you hanging dry. There are ways to prevent these attacks from happening at the user level and it starts with having a strong understanding of how and why we should be creating passwords a certain way.

The Gateway to an Attack

To begin, in modern systems, passwords ultimately are turned into a hash. A hash is a one-way transformation of input into essentially unintelligible nonsense. It uses a known algorithm to take data, in this case a password, and turn it into random characters. For example, the md5 algorithm turns the word “password” into “cc3a0280e4fc1415930899896574e118.” This is typically how passwords are transmitted within environments and how they are stored in databases on applications. If it is not stored or transmitted in this way, it is considered to be “plaintext”. There are several different kinds of algorithms, and as time has gone on, there have been developments in complexity to arrive at the final hash.

Now some of you may think that a hash value is similar to encryption, and that with a key you can “decrypt” the password. In this case, hashes are on- way transformations because in the process of determining the hash, it runs many different sequential computations. In the later computations it may (or may not) use data from earlier computations. So, as a result, you can’t work backwards since you are missing data that was determined early in the original hashing procedure To obtain a password from a hash, the current most commonly used process is to “crack” the hash. Meaning you use a program, a strong computer, and virtually every combination of letter, word, and symbol within a given length that you can try, and have it run through the hashing procedure to see if it matches. For example, if I have a list of 10 words, including “password” from earlier, the software will hash each word, and check the result against the hash I’m trying to crack. When it hashes “password” and finds the same result, I’ve now cracked that hash and know the password. This can take anywhere from seconds to a millennia depending on the entropy, or strength, of the password.

Cracking Passwords is a Simple Process

There are plenty of guides online of how to crack passwords, and really all you need to do it effectively is a computer that can do as many computations at once as possible. Each year as computers get more powerful, the algorithms that we’ve used become weaker. These systems can now “guess” more times per second, and therefore run through more attempts. This has resulted in new algorithms being made that are longer to generate the hash, attempting to reduce the number of hashes a computer can generate per second. For example, using the MD5 hash mentioned earlier, a graphics card from several years ago can do 40116 megahashes per second. This means that it can attempt over 40 billion passwords per second. In comparison, with the NTLMv2 hash, which is what Windows uses, that same system would be doing under 3 billion hashes per second.

These figures might seem astronomical, and you may wonder how it is that these systems don’t crack a password in seconds with that many attempts, and this is where we come to talk about password strength, or entropy. Entropy, in the context of information, is essentially its uncertainty. To increase entropy, you increase uncertainty, meaning you increase the possible combinations of characters a password can be. Prevailing password theory has always been to make passwords random, which is certainly a way to increase entropy within passwords. It also often makes cracking much more difficult, as typically password cracking uses a dictionary of words, and applies “rules” to those words. Meaning for “password” the software would try not only the base word, but would replace letters with numbers, add symbols, or add numbers to the end. The word password itself can result in thousands of combinations, and that’s only for a single word.

This is why we transitioned from using simple words, to including capitals, special characters, and numbers in our passwords. For a standard 8 character long password, that can add over 40 different options for each character in the password. So, if we add special characters and numbers to our passwords, but they still end up being cracked, what do we do? There are several ways to approach this issue so stay tuned to Part 2

Author Spotlight: Dan Berry, Offensive Security Consultant

Dan Berry has been the offensive security specialist at IT Weapons for over a year, and is an expert in providing advice from the perspective of an attacker. Dan has been refining ITW’s offensive security offerings to be more efficient and provide a better value to clients, while constantly looking to innovate and provide more complete and valuable information about their security posture.

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IT Weapons Named to Channel Futures 2023 MSP 501 List

Mississauga, ON (May 4, 2023) – Konica Minolta Business Solutions (Canada) Ltd. (Konica Minolta) is proud to announce it has again been named as one of the technology industry’s premier worldwide managed service providers (MSP) in the prestigious 2023 Channel Futures MSP 501 rankings. This is the twelfth consecutive year Konica Minolta has been selected as one of the top-performing MSPs. This recognition represents the efforts of its IT Services Division in the U.S. as well as Canada.

For the past 17 years, managed service providers around the globe have submitted applications for inclusion on this prestigious and definitive listing. The Channel Futures MSP 501 survey examines organizational performance based on annual sales, recurring revenue, profit margins, revenue mix, growth, innovation and supported technologies.

MSPs that qualify for the list must pass a rigorous review conducted by the research team and editors of Channel Futures. It ranks applicants using a unique methodology that weighs financial performance according to long-term health and viability, commitment to recurring revenue and operational efficiency.

“As a leading MSP in North America, this is an important recognition for Konica Minolta, and we are proud to be named among the best-in-class providers that appear on this list,” said Todd Croteau, President, Global Information Technology Services, Konica Minolta.

Please click here for the full press release.

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Passwords? No, Passphrases. Your Ultimate Guide to Preventing Attacks: Part 2

Staying cyber safe online has quickly evolved to being a top priority in our everyday lives. One of the most effective ways that just about anyone can implement is using your own mind. And what I mean by that is educating yourself on what attackers will be looking for when trying to crack your passwords. Being knowledgeable with the latest methods will keep you one step ahead. In part 1, I shared how password creation plays a role in preventing security breaches and provided you with further insight, all from the perspective of an attacker. Now that you are equipped with this knowledge, let’s talk about what you can actually do about.

Pulling Passwords Out of the Hat

First, generate a random string of characters. Password crackers don’t typically operate with a completely random string of characters. For instance, the password “9V3amEyd3Gk*” is unlikely to be cracked using standard methods.

However, no one is going to remember that password. And since we should never reuse a password, we definitely won’t remember 50 different kinds of passwords like that. This is why password managers are recommended. This allows you to generate random passwords that would take potentially millions of years to crack, and you don’t need to remember them. However, speaking from experience, many of our older generations aren’t as comfortable using password managers. Whether that’s because they’re wary of the passwords being stored in the cloud, which they don’t trust, or that they aren’t as comfortable using computers in general, and as simple as it may seem to some people, it may seem daunting to others. This can often result in passwords being written down in books or on sticky notes or even in documents on the computer itself! This should go without saying, but that is not recommended.

If you find yourself in this situation, you might wonder how you can create a strong password that can be remembered. If we look back at entropy, we found that increasing the number of combinations results in a more difficult-to-crack password. If we can’t use randomization, what is our next option? Making longer passwords. Adding special characters or numbers may result in 15-20 additional options for each character. But each character in length adds at least 26 options, and if you also use capitalization, that doubles. This is where we transition from thinking of a “password” to a “passphrase”, something I wish we’d start using to shift the mindset away from short one word passwords to longer and more dynamic passphrases.

How and Why Passphrases Work

With passphrases, you’re able to dramatically increase the entropy of a password. Let’s say you’re a Star Wars fan, and you know that to create a good password it should contain all the things we talked about. So you make your password “S74rW@r5F4N77”. Using password checkers across the internet I get a range of estimates from 22 years to 2 million years to crack that password, sounds great right? There are a few caveats to this. Firstly, these calculators aren’t factoring in the fact that it’s using actual words, and it isn’t factoring in research on the target. If I captured the hash of someone, and I checked their social media to find out they’re a big Star Wars fan, I would create a word list that includes different Star Wars terms. Through standard rule sets, I would end up cracking this password much faster if I do proper research on my target. Even if I didn’t, my standard word list contains “starwarsfan” in its list, which means ultimately I would end up cracking this password, and it would likely only take a day or two.

So what should our Star Wars fan do? Use a passphrase. Use a quote, a motto, something relatively unique and obscure that they will remember because it has some meaning to them. For instance, using ”Iamyourfather” is too common a phrase, and would also be ultimately discovered. Using a quote from your favourite character and then adding our usual adjustments to it may result in something virtually uncrackable. For instance, perhaps your favourite character is Han Solo. At one point he says the phrase “Let’s keep a little optimism here.” Using “Letskeepalittleoptimismhere” as our basis, those same password strength testers from before range from 228 years to functionally the end of the universe. Because we’ve added length, and we’ve used a phrase that is not commonly used or recognized, this password may be as good as a password that is just a random string. If we wanted to further increase it’s capability to not be cracked, we could include the usual special characters, numbers, and capitalization, but unlike other passwords where it has to be almost every letter is changed, you could do something as simple as adding normal special characters that would fit the sentence, and maybe turn keep into k33p to vastly increase the time it would take to crack this password.

Now that we’ve got a passphrase that we know is strong, we can’t use it for every password. This is where I depart from standard recommendations. It’s recommended to never use patterns, because it can functionally be the same as using the same password if the pattern is determined. However, using multiple different ways to make your passwords unique can result in a pattern you recognize, and a pattern an attacker can’t see.

For example, say you’re using our passphrase to sign up for an account on Amazon. You could then use a pattern with the website name itself to fabricate a password. For instance, you can take vowels or consonants and put them into the password, such as “Passwordmzn.” This isn’t bad, and unless an attacker really looks at the password and where it’s from, it may not be discovered, but some websites or applications will be very obvious that this is what’s being done. Another may be that you use the context of the website name to be a clue to the remainder of the digits. Say you’ve got 4 siblings, Jack, Fred, Sarah, and Mary. You could look at Amazon, and see that the first letter that matches the first letter of one of your sibling is M. From there you could then attach her birth year, or full date, or something related to her that you know and remember. For example, it would end up being “PassphrazeMZN1983” This results in a unique password, using a long passphrase that’s meaningful to you and uses a contextual clue that only means something to you.

It’s recommended that you think of your own contextual clue, and you can even have multiple that you apply to each password, further increasing length and adding the number of seemingly random characters to the end of the password, so that should it ever be leaked in plaintext, a malicious actor won’t necessarily be able to use it on other pages.
A final option some people could take advantage of is making their password in a different language. Here in Canada almost all passwords will be in either English or French. If you use a password in an unexpected language, this will also dramatically increase potential cracking time. Even more so if you use an unused language like Latin, or a language with different characters like Korean.

Using these recommendations, you can expand on the above ideas to make your passwords something you always remember, and nearly impossible to crack. Perhaps you have a list of phrases, one you use for commerce sites, one you use for hobby applications, one you use for banking, and one you use for email. This allows you to separate out your different accounts even further, so that in the unlikely event that all our previous steps taken result in both the password being discovered and the pattern being discerned, it results in only that “category” of applications needing to be changed. Lastly, it is always recommended to use Multi-factor authentication, or MFA. This is where you get a notification on another device (typically a cell phone) asking if the person logging in is you. This allows you to control logins and if the password is compromised, you may still block the login.

The Bottom Line

To sum up, use a password manager if you’re comfortable doing so. If you’re not, use passphrases instead of passwords. Choose a passphrase that is meaningful to you, but not something that’s in popular culture, and then spruce it up with your own creativity. As I said from the beginning, I try to think like an attacker. This would definitely ruin my day as an attacker trying to crack passwords.

Author Spotlight: Dan Berry, Offensive Security Consultant

Dan Berry has been the offensive security specialist at IT Weapons for over a year, and is an expert in providing advice from the perspective of an attacker. Dan has been refining ITW’s offensive security offerings to be more efficient and provide a better value to clients, while constantly looking to innovate and provide more complete and valuable information about their security posture.

The post Passwords? No, Passphrases. Your Ultimate Guide to Preventing Attacks: Part 2 appeared first on IT Weapons.

The Ultimate Guide to Managed IT Services Trends in Canada

What mainstream Canadian organizations need to know about Managed IT Services trends and how to stay ahead of the curve for the upcoming quarters and beyond.

Are the recent spike in interest rates and increasing costs of labour on top of mind in your organization? Don’t worry, you’re not alone – businesses of all sizes are feeling the crunch! But despite these ongoing concerns, according to a recent CPA Canada survey, 28% of respondents expressed optimism toward the resiliency of the Canadian economy in Q2 of 2023. At first glance, 28% doesn’t seem like a significant number, but when looking at individual organizational metrics, the optimism rises:

57% believe their companies will have increased revenue over the next year,
49% say profits will increase over the next year, and
42% anticipate a climb in employee numbers.

Having said that, cost-savings and doing more with less are still what every decision-maker is thinking about right now. To help you increase productivity and protect your pennies, our team of experts recommends closely following these five managed IT services trends in the upcoming quarter and beyond.

Five Canadian Managed IT trends that will help bring efficiency and increase overall productivity with technology:

Develop IT spending strategies for your organization
Improve your existing technologies to strengthen data-driven decision making
Implement streamlined solutions that are designed to scale
Continue to invest in your cybersecurity strategies
Prioritize innovative solutions to boost employee productivity

Develop IT spending strategies for your organization

With technology evolving at a rapid pace, it’s tempting to invest in the latest and greatest solutions without first considering the impact on strategic growth. However, only some IT investment will yield a positive ROI, and Canadian organizations of all sizes need to be mindful of how they allocate their resources.

This means evaluating each expenditure based on its potential benefits, costs, and risks, as well as its impact on overall strategy and goals. By taking a strategic and data-driven approach to IT spending, you can optimize your investments, and achieve better outcomes.

Fortunately, you don’t have to do it alone, especially when it comes to managed IT services. By outsourcing these functions to a managed service provider (MSP) you can gain back time to focus on strategic growth, and be confident that your IT needs are being met. However, before you start splashing that cash, let me remind you that you do still need to be selective when it comes to IT spending, and take the time to evaluate the return on investment (ROI) of each expenditure.

Tailor your current technology to facilitate the adoption of big data analytics

Reporting revenue growth and gaining new customers is as exciting as it gets! However, without the right investments in the backbone of your operations, you’ll quickly see all that growth dwindle away. And in this day and age, that means investing in data-driven decision-making to survive.

Inadequate technologies/systems, immature capabilities, and lack of experienced talent are some of the many reasons that are getting in the way of driving data to insights. You can start by incorporating plans to address these specific challenges. Here are some quick tips to get started on facilitating the adoption of big data analytics:

Invest in new automated systems and/or upgrade existing systems
Implement talent/organizational changes where needed
Streamline data structures and evaluating processes/controls

Moving full steam ahead in these three key areas as a top priority will ensure that you’re making the right moves for the future of your business. The shopping spree awaits – you just need to be smart about where to invest for long-term growth.

Implement streamlined solutions that are designed to scale

Now that you know where to spend, let’s look at how to spend. A newly released report from Trellix and Vanson Bourne surveyed over 500 Chief Information Security Officers (CISOs), to see where their focus is heading. To save you time, here are the key takeaways from this report:

Reducing the number of ineffective solutions: Organizations reported using an estimated average of 25 individual security solutions, with 30% of CISOs indicating that the sheer plethora of technology (without a single source of truth) is a major obstacle.
Overall, the need for the right solutions: 94% of CISOs agreed that having the appropriate tools would save them significant time, and 44% expressed a desire for a single integrated enterprise tool to optimize security investments.

At the same time, TechNavio is doubling down on its prediction that Network-as-a-Service (NaaS) is where organizations will switch their attention. They estimate the market is set to grow by $20 billion from 2022 to 2027 – from about $13.5 to $33.5 billion – at a CAGR of 19.9%. The growth the NaaS market is experiencing can be largely attributed to several factors, including the increasing use of cloud services, high reliability and security for mission-critical business applications, the rising demand for widespread and high-speed network coverage, and the lack of enough IT expertise at many organizations.

This shift toward a usage-based model allows for greater flexibility, scalability, and cost savings, making it an attractive proposition for businesses of all sizes.

Continue to invest in your cybersecurity strategies

According to Nuspire’s Q1 2023 Cyber Threat Report, the need for cybersecurity investment is here to stay, and hackers are getting smarter with new phishing tactics to infiltrate systems. Specifically, there were elevated activity levels across all three types of threats the Managed Security Service Provider (MSSP) monitors:

Exploits: skyrocketed by over 150%, primarily driven by brute forcing and the exploitation of Apache Log4j vulnerabilities
Malware: surged by nearly 40%, with JavaScript and Microsoft variants being the most prevalent
Botnets: witnessed a significant 60% increase, with NetSupport RAT and FatalRAT emerging as prominent threats

As technology continues to evolve, investing in cybersecurity may not guarantee your organization a completely risk-free environment. But you can get close to it! Implementing effective solutions that provide maximum protection will help your organization stay alert and ready to counter any security threats it might face.

Prioritize innovative solutions to boost employee productivity

As remote/hybrid employees become more prevalent and companies face greater pressure to retain top talent, it’s increasingly common to adopt employee-centric work models as part of a broader business growth strategy. Today’s successful businesses recognize the importance of an employee-centric approach, which prioritizes the happiness and motivation of employees to improve productivity and achieve long-term success.

How does technology play a role in this? Implementing innovative strategies and access to the latest technology solutions boosts your employee productivity and creativity while enhancing their work-life balance. Ultimately, placing your employees at the centre of business strategy fosters loyal, engaged, high-performing teams that drive better customer satisfaction, increased profitability, and sustainable growth. Partnering with a leading managed services provider (MSP) in Canada can not only help assess your existing workflows and inefficiencies, but also collaborate with you to implement the right technologies.

In conclusion, trends come and go; there’s always something new to focus on

There is no doubt that leaders are constantly thinking about strategic growth far beyond the next 12 months, especially in this current economic landscape. It’s most likely kept you up some nights! But no matter the trends of this year and beyond, there is essentially one constant survival skill that every business needs: adaptability driven by technology. Technology is constantly evolving, and companies need to keep up to remain competitive. By adapting to emerging technologies, businesses can streamline their operations, improve efficiency, and enhance the customer – and employee – experience.

Remember this – a leading Managed IT service provider in Canada, like Konica Minolta IT Services, has the expertise and resources to help organizations like yours stay up-to-date with the latest technologies, ensuring that they make the most of their IT investments. You have access to a range of services, including network management, cyber security, data backup, cloud computing, and help desk support, among others, at your fingertips. Ultimately, outsourcing IT can help businesses adapt to new technologies more quickly, reduce downtime and improve overall performance, allowing your business to stay ahead of the curve in today’s rapidly changing business landscape.

Learn more about Konica Minolta’s Managed IT Services here.

Author Spotlight: Marco Maggio, Vice President, IT Services Sales & Strategic Practices

Marco Maggio leads the commercial sales force for the United States as well as the Legal, Education and Healthcare Practices within Konica Minolta’s IT Services organization. Prior to joining Konica Minolta, he held executive leadership positions at technology organizations such as Lanier, Mosaic, Ricoh, and Hewlett Packard. Marco is a frequent speaker for legal industry associations and a regularly published author for technology relevant to key vertical industries.

The post The Ultimate Guide to Managed IT Services Trends in Canada appeared first on IT Weapons.

End-of-support: When to Upgrade and When to Hold On

Everything you need to know about End-of-support in the ever-evolving technology landscape

In an age where technology is deeply intertwined with our daily lives, the importance of timely upgrades cannot be overstated. As we continue to rely more heavily on digital tools for work and leisure, understanding the implications of “end of support” becomes critical.

However, the end of support is not always a bad thing. Often when hardware or software support expires, it is because better, more robust versions are available to enhance your digital experience further.

This End-of-support guide will walk you through everything you need to know about End of Support, when is the best time to upgrade your tools and when can you hold off on the upgrades. Get started here:

What is End of Support?

End of support refers to the point in time when a product or software no longer receives official updates, security patches or technical assistance from its Original Equipment Manufacturer (OEM) or Developer. This means that users of the product should be aware that it may become vulnerable to security risks, bugs and compatibility issues if they continue to use it beyond its end-of-support date. It is advisable to upgrade or replace the product to ensure continued reliability and security.

Why should you avoid using unsupported systems?

In today’s ever-changing technology and security threat landscape, it’s critically important to ensure that the operating systems (OS) and applications that your organization is using are supported by the corresponding vendors. Unsupported software presents significant risks to organizations, including security vulnerabilities, compliance issues and productivity concerns. Supported software, on the other hand, receives regular security and functionality updates, third-party application support and usually some level of technical support.

Here are the three specific reasons why you must avoid tools that are approaching or have passed their end of support:

Security risk: One of the most significant risks of using unsupported systems is related to security. Applications or OS that are out of support won’t receive security updates that address newly discovered vulnerabilities, leaving them open to exploitation by cybercriminals. As time goes on, these exposures increase, potentially impacting other systems within your organization’s network. Hackers can use exploit kits that target these vulnerabilities to compromise networks, steal data or deploy ransomware.
Compliance risk: Industries that focus on privacy and security often have regulatory requirements that mandate the use of only supported software. From a cyber insurance perspective, supported operating systems, with regular security patching, are often a requirement that can impact the cost of insurance, or in some cases the ability to secure it at all.
Decline in Productivity and Efficiency: System issues may cause extended downtime as no technical support is available, leading to data loss and negatively affecting operations. Third-party applications installed on unsupported operating systems may become unsupported. Many vendors of these applications only test or release updates for supported operating systems. Over time, these applications will run less effectively – or not at all.

How can you minimize risks and protect your organization from technology that is approaching the End of Support?

When it comes to mitigating risks and safeguarding your organization from technology that is nearing its end of support, there are several strategies you can consider.

Firstly, it’s important to have a good understanding of your inventory. Know which technologies are being utilized within your organization and keep track of their end-of-support dates. This proactive monitoring allows for sufficient time to plan for upgrades or migrations.

Secondly, consider partnering with a third-party support provider. They can fill the gap when the OEM support expires, ensuring uninterrupted coverage and continued remediation of any issues.

Lastly, develop a technology refresh plan. Regularly updating your IT equipment keeps you clear of EOS problems and provides opportunities for performance improvements and feature enhancements.

Remember, the aim is to avoid the vulnerabilities and risks associated with unsupported technology. By staying ahead of the game, you put your organization in the best possible position.

When is the best time to act for End of Support?

Our security experts recommend starting by having a plan in place to upgrade or migrate systems to supported operating systems or applications. If upgrading is not feasible, consider implementing mitigations such as segmenting networks and applying stricter access controls, utilizing separate passwords for unsupported systems and adding additional security monitoring for these systems. To simplify this process, we have compiled a list of recent and upcoming end-of-support dates for popular supported software. By keeping track of these dates, you can ensure your organization is using the latest supported versions of software and limiting operational impact.

What are the upcoming End of Life and End of Support to look out for in 2023?

Here is a list of tools that have recently reached or will be soon reaching their end of support.

I’m ready to discuss my End-of-life or End-of-support Needs with a Konica Minolta Specialist

If you need help identifying unsupported systems, creating a plan for software support, or implementing any of the recommended mitigations, don’t hesitate to reach out to Konica Minolta’s team of security experts.

Contact Us Now

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