How telecommunication companies can strengthen their cybersecurity?
Telecommunication companies face numerous challenges, including infrastructure constraints, supply concerns, and intense competition. Lagging investments, slow 5G rollout, geopolitical tensions, and cybersecurity are also major concerns. The industry is responsible for keeping the world connected, making it an attractive target for cyber-attacks.
Telcos are responsible for massive amounts of personal data, making them vulnerable to malware attacks. Malware intends to disrupt service, access devices, upset the user experience, and acquire sensitive information. In 2018, 43% of telecom operators suffered from DNS-based malware attacks, and 81% took three or more days to apply critical security patches after detecting data breaches.
Telecom companies shift to more personalized services, collecting more private data. However, investing in privacy cybersecurity systems takes a backseat to speed, storage, and other operational processes. The industry serves as an easy target for data breaches, receiving 69 sanctions in 2020, quadrupling the penalties of tech firms. Hackers can sell this information to state-sponsored organizations collecting intelligence or even too dark web users.
Business Strategy Vulnerabilities:
The wealth of information obtained by telecom companies has become increasingly valuable in this data-driven world. Unfortunately, less scrupulous businesses use this information to create strategies at the expense of the unwitting consumer. Customers trust their providers to protect them from such issues, but low-level security training and the lack of regulation are vulnerabilities that hackers can exploit.
Cybersecurity is not always a priority in this intensely competitive industry. According to a McKinsey report, insider threat is another overlooked risk. Investigations found that telco employees were responsible for 50% of privacy breaches, whether performed maliciously or accidentally. Companies are aware of this weakness, but solving it takes a backseat.
The telco industry received the largest number of DDoS (Distributed Denial of Services) attacks in the first quarter of 2021. As the industry responsible for keeping the world connected, telcos must prioritize cybersecurity to protect personal data and ensure uninterrupted service.
Telecommunication companies must invest in privacy cybersecurity systems to protect personal data, including securing entry points, securing customer data, and implementing proper training protocols. Active measures, such as encryption and multi-factor authentication, can also help prevent data breaches.
Identifying system vulnerabilities:
Companies must also ensure that their employees receive regular cybersecurity training to minimize the risks of insider threats. Regular risk assessments and penetration testing can help identify vulnerabilities and weaknesses in systems and applications, allowing companies to take corrective measures promptly.
Telecom companies must comply with existing regulations and standards for cybersecurity. They must also work with regulators and government agencies to develop and implement new regulations that address emerging cybersecurity risks.
Telecom companies must also establish partnerships and collaborations with other stakeholders, including security vendors and other telcos, to share information and best practices. Sharing information can help the industry stay ahead of emerging cybersecurity threats and prevent future attacks.
AI-Powered Threat Detection:
Finally, telecom companies must stay up-to-date with the latest cybersecurity technologies and trends. This includes investing in advanced security solutions, such as AI-powered threat detection and response, to detect and prevent attacks proactively. Companies must also regularly review and update their cybersecurity policies and procedures to ensure they remain effective in addressing evolving cybersecurity risks.
Telecommunications have evolved from just being a means of connecting to a completely digital life provider. With this evolution, cybersecurity concerns have grown. To address these concerns, telecoms can partner with established digital solutions providers like e-Boks to assure privacy.
Collaborating with a white-label digital solutions provider like e-Boks offers telecoms increased security compliance. e-Boks adheres to GDPR standards and practices confidentiality. Its encrypted network ensures spam-free and low-risk communications.
Digital solutions providers also offer integrated services like digital signatures and payment, which can be integrated into their platform. Citizens of a particular country can continue to use the payment services available in their location.
Working with digital solutions providers leads to reduced overhead costs and less use of resources. This streamlining helps both the company and end-users enjoy more direct services.
One example of a successful partnership is between Bahrain’s national telco, Batelco, and e-Boks. Batelco’s customized OneBox not only promotes security and efficiency but also increases revenues for the company.
Digital Postbox Overview:
Digital postboxes work similarly to email, but they are more private. They have a closed, encrypted network that prevents spam, unwanted ads and mail, phishing attempts, and viruses. Digital postboxes require an electronic ID login, which limits the network only to authorized users.
Digitizing the telecommunication industry helps future-proof it. e-Boks is committed to fulfilling several Sustainable Development Goals, like reducing the material footprint of paper and water per capita and per GDP.
Partnering with digital solutions providers like e-Boks can promote sustainability in more ways than one. They can help secure people’s legal rights, fundamental freedoms, legal identities, and their secure and transparent access to public and private institutions.
In conclusion, the telecommunication industry’s relevance will continue to flourish in the foreseeable future. To grow your business further, consider collaborating with a digital solutions provider like e-Boks to assure privacy, increase security compliance, reduce overhead costs, and promote sustainability.
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