Visa and security firm Expel have partnered to help businesses defend themselves against cybercrime. The partnership is a response to the rising cost of cybercrime, which Visa says is projected to reach $10.5 trillion globally by 2025.
The partnership will provide businesses with 24/7 detection and response, as well as managed detection and response (MDR) services informed by external intelligence, trends, and threat techniques. This will help businesses move from a reactive security position to one that is more proactive and focused on risk-based decision-making.
The partnership is timely, as cybercrime is becoming more sophisticated and democratized. Fraudsters are now able to purchase the tools and tutorials they need to carry out successful attacks on the dark web, and new innovations in technology are giving them more scale and automation.
Businesses need to provide their customers with the payment methods they prefer, while ensuring those channels stay secure. The partnership between Visa and Expel can help businesses achieve this goal by providing them with the tools and expertise they need to defend themselves against cybercrime.
Analytical perspective:
The partnership between Visa and Expel is a significant development in the fight against cybercrime. Visa’s global reach and Expel’s security expertise will provide businesses with a valuable resource to help them protect themselves from cyberattacks.
The partnership is also a reminder that cybercrime is a serious threat to businesses of all sizes. Businesses need to be proactive in their approach to security and take steps to protect themselves from cyberattacks.
The following are some tips for businesses to protect themselves from cybercrime:
- Educate employees about cybersecurity best practices.
- Implement strong security controls, such as firewalls and intrusion detection systems.
- Regularly back up data.
- Have a plan in place to respond to cyberattacks.
By taking these steps, businesses can reduce their risk of becoming victims of cybercrime.