In the past few years, conversations on cyberattacks and threats have increased. With cybercriminals using the most advanced malware to break into systems; businesses are force to look at security solutions to protect themselves.
The COVID-19 Pandemic resulted in the advent of remote working and laid bare some of the digital vulnerabilities of our times.
According to data, one cyberattack is committing against a business every 3 seconds in the world. Estimates suggest that businesses lose an average of $80,000 every year because of hacking attacks.
In this resource article, we will look at how a digital certificate can help businesses add an extra layer of security to online transactions and dealings between businesses.
Digital Certificate: What is it and how it can help businesses?
In very simple words, a digital certificate is a set of encryption keys that bind credible transactions between businesses. As we know, secure transactions take place when public and private keys are apply by the parties to a transaction.
A digital certificate helps in the authentication of the identities of the businesses. If the business possesses the private keys, another business is secure in the knowledge that they are transferring data, money, or any other important resource to the right entity.
If we are to draw an analogy between a digital certificate to an official identity, you can say that it resembles a ‘Passport’. A Certificate Authority issues a digital certificate and acts as a vanguard of authenticating the transactions on all levels. All this is a part of something known in cybersecurity circles as Public Key Infrastructure.
How Digital Certificates are Helping Businesses avoid Cyberattacks?
In this section, we will list down five major ways Digital Certificates in combination with Public Key Infrastructure helps businesses in avoiding cyberattacks–
- Detection of any Intrusion in the Digital Ecosystem-
As soon as someone that does not have the private keys try to access the digital frameworks and platforms of a business, there is an alarm, which is sounded. The PKI along with the Digital Certificate works to identify the origin of the threat and prevents it from gaining access to the data of the business. This means that it helps in both detections as well as prevention.
- Monitoring the Network and Intelligence-
Credible PKI authorities not only ensure day-to-day security but also share a ton of resources with the business. The attempt is to educate, inform and provide credible intelligence on security threats and to prepare in the event of an attack. A lot of this concerns itself with giving inputs on network connectivity and security. There is constant monitoring of infiltrations.
- Assessing the Behaviour of Users through Intelligence-
Even within the organization, different individuals are assign different levels of security and clearance. The system monitors and assesses user behavior and sounds an alarm if it sees some alterations to the same. This can help in preventing internal data breaches. If statistics are to be believe, 50% of all breaches take place because of inside sources in the company.
- Surveying Digital Governance Systems-
PKI and Digital Certificates provide a holistic security cover across platforms and ecosystems. For example, from the company servers to the email software, everything can be wired to the PKI. This ensures that all the digital touchpoints and information systems of the business are protected and monitored at all times. This is an effective security blanket of sorts.
- Encrypting Every Data within the Organization-
Encryption is one of the major ways businesses try to protect data. However, there might be instances where a business or its personnel can share information without encryption. A business does not know what is valuable in many instances and this can play into the hands of criminals looking at an entry point. A PKI and digital certificate ensure that everything is encrypt at all times.
The Bottom Line
According to leading security experts, a digital certificate is one of the most effective ways to ensure complete cyber protection for your business. If you have any more questions, you would like us to answer, let us know in the comments section below.