With their extensive network and a huge amount of sensitive data, multinational corporations (MNCs) are a major target for cyberattacks. Regular cybersecurity penetration testing is important to secure these enterprises from evolving threats. It is the process of employing cybersecurity professionals to test your systems and networks for vulnerabilities that hackers could exploit.

Penetration testing will help secure businesses from cyber threats and comply with industry regulations. In this blog, we are going to learn about cybersecurity penetration testing, what are its types, and why it is important for multinational corporations.

So, let’s start!

The Growing Landscape of Cyber Threats

Hackers continuously develop new techniques and tools to exploit vulnerabilities in MNCs’ networks, applications, and other digital assets. As a result, cybersecurity has become mandatory if they want to prevent their organization from huge losses.

Statistics show that 2,200 cyberattacks happen every day, with a cyberattack happening every 39 seconds on average. Yes, you read that right! Before you brew a cup of coffee, there had been a cyber attack somewhere. Bank of America, Hewlett-Packard Enterprise, AnyDesk, and Infosys are some of the major corporations that recently faced a cyberattack. As per Statista, cybercrimes on US-based organizations have grown exponentially over the years and are predicted to cost approximately $1.8 trillion by 2028.

Apart from financial losses from remediation efforts and legal liabilities, data breaches can damage the corporation’s reputation and brand image. Cybersecurity penetration testing is a robust security measure that can help secure your digital assets and long-term success.

MNCs Have a Greater Risk of Cyber Attacks

Multinational corporations (MNCs) are typically much bigger than the average business, operating in multiple countries, and working on several domains. Additionally, MNCs also operate under a huge set of networks and develop numerous applications. Hackers prefer to breach these areas to steal valuable information.

While conducting penetration testing, MNCs need to consider what their priority assets are. For example, networks or applications. Not all cybersecurity companies provide deep penetration testing, so you must partner with a firm that offers an accurate and hybrid approach to pentesting.

Importance of Cyber Security Penetration Testing for MNCs

Penetration tests go beyond your traditional security tests, as they discover as many vulnerabilities as possible depending on the client’s scope. In fact, combining automated vulnerability assessment and manual penetration testing techniques has been shown to yield better results. MNCs can employ ethical hackers from third-party cybersecurity firms to conduct pen tests for their applications and networks.

As per IBM, the global average cost of data breaches was USD 4.45 million in 2023. This doesn’t even include reputational damage and additional costs for the remediation process. While penetration testing may seem costly at first, they are worth every penny to avoid the devastating effects of a data breach.

Below are the key benefits of doing penetration testing for multinational corporations (MNCs):

1. Protect Sensitive Data

MNCs deal with huge amounts of sensitive data, including customer information, financial records, and intellectual property. As a result, a breach can cause significant financial losses, legal consequences, and damage to the company’s reputation. Cybersecurity penetration testing helps identify vulnerabilities before they are exploited by hackers or cybercriminals. As a result, reducing the risk of data breaches.

2. Secure Intellectual Property

Intellectual properties (IP) are valuable assets for MNCs. For example, patents, trademarks, and proprietary information. Penetration testing helps protect IP by identifying vulnerabilities in systems and networks that could be exploited to steal or compromise sensitive data. By safeguarding intellectual property, MNCs can maintain their competitive edge and innovation advantage in the global marketplace.

3. Compliance and Regulatory Requirements

Most MNCs operate in multiple legal jurisdictions and are subject to various regulatory requirements. For example, HIPAA in the United States and GDPR in Europe. These regulations often mandate security exercises like penetration testing to ensure that corporations maintain appropriate security measures to protect sensitive data. However, failing to comply with these regulations can lead to severe penalties and heavy fines.

4. Stay Ahead of Evolving Threats

Cyber threats are always evolving because hackers are always trying new ways to breach systems. Regular penetration testing helps MNCs stay one step ahead of cyber criminals by identifying new vulnerabilities and strengthening their defenses accordingly. It’s a proactive approach to cybersecurity that helps mitigate constant risks.

5. Protect Brand Reputation

A data breach can have huge consequences beyond financial losses. Additionally, it can tarnish the reputation of an MNC, damaging customer trust and loyalty. By conducting penetration testing on the applications and networks, organizations can demonstrate their commitment to security and reassure customers that their data is safe.

6. Secure Supply chain

MNCs usually rely on complicated supply chains that involve multiple vendors and partners. Each of these connections can become a potential entry point for cyber threats. Penetration testing assesses the security posture of these third-party suppliers, along with ensuring that they meet the same set of strict rules as the MNC itself.

Are you worried about cyber threats attacking your business and stealing valuable information? Qualysec Technologies offers hybrid penetration testing services that can analyze every part of your applications to find all the vulnerabilities. In fact, we even provide steps to fix the found vulnerabilities. Don’t wait, click below to book an appointment!