Digital transformation is inevitable for businesses. With that, there comes inherent risks related to cybersecurity. Recent security breaches and data theft incidents involved businesses that are on the forefront of digitization, including top corporations and brands. In other words, it is foolish to believe that your company is immune to cyberattacks. From camera hack and backdoor attacks, to network penetration and social engineers, the list of tactics used by hackers is long. This is the precise reason why businesses need to consider the option of using a bug bounty program, which is a proactive cybersecurity measure.
What exactly is a bug bounty program?
In simple words, bug bounty programs allow ethical hackers to work for a business on predefined terms and conditions, to find existing vulnerabilities within a system, network, or an extensive IT environment. A number of security breaches happened because companies didn’t do enough to fix security issues and vulnerabilities. With bug bounty programs, the idea is to engage ethical hackers, who can find these concerns, before a real hacker does.
Knowing the obvious benefits
While bug bounty programs can be expensive, the advantages are real. The cost of a security breach, even for a small business, can be huge. Many companies become complacent with their existing cybersecurity measures, hoping for the best. To counter cyberthreats, it is important to be proactive and think beyond the obvious measures, and that’s where a bug bounty program comes in handy. There are many companies that manage such programs for other businesses, and it can be handled within a budget.
Other important things to consider
Although bug bounty programs are great, it is also wise to continue with other measures. For instance, penetration testing is important and ensures that employees do not take compliance for granted. Also, it is also necessary to look into the details of these bug bounties, because you don’t want to end up in a legal mess or a situation with ethical hackers. There is no denying that these programs are great vulnerability detection, but it is also necessary that all the necessary rules and compliance needs are adhered to.
Final word
Also, just because you are running a bug bounty program, it doesn’t mean that your company can take cybersecurity for granted. Basic things like device protection, creating strong passwords, installing antimalware software and firewall, and network testing, will still matter. For bounty programs, it is always possible to get help.
