by Rebeca | Mar 16, 2022 | cybersecurity, News, soffid
Cyber resilience refers to the ability to protect electronic data and systems from cyberattacks. As well as to quickly resume business operations in the event of a successful attack. According to Statista, 37% of organisations globally became a victim to a ransomware attack in 2021. Additionally, 68.5% were victimised by ransomware – an increase on the previous three years.
Companies now must find intelligent ways of reducing digital footprints across cybersecurity quicksand to ensure their environments are secure. Cyberattacks are a serious threat to each of us. Because attackers could try to hack into a private computer or an organisation for economic gain or simply for demonstrative purposes. Generally their goals are simply to cause harm and disruption.
This threat has to be taken seriously by banks, financial institutions, and financial market infrastructures (such as payment or settlement systems). But cyberattacks are not only a threat to individual institutions. Given the high level of interconnectedness within the financial sector, they can also pose a threat to the stability of the overall financial ecosystem.
The Australian Securities & Investments Commission share some Cyber resilience good practices.
In an increasingly digitized world where cyberattacks are growing at an alarming rate, it is hard to imagine running a business without a comprehensive cyber resilience strategy. With the shift towards hybrid work, cyberattacks are an unfortunate reality for businesses of all shapes and sizes. Attacks leveraging social engineering and other techniques are increasingly effective, which means no organization is safe.
A solid program enables you to prepare for and effectively respond to and recover from such attacks. A cyber-resilient organization can protect its core business functions against cyberattacks and ensure business continuity during and after a disruptive incident.
Do We Need a Cyber Resilience strategy?
Cyber resilience is highly beneficial for your organization. By improving the overall security of the company, it is protected from serious harm such as financial loss, loss of sensitive data and cyber attacks. Additionally, it helps protect your brand reputation by enabling you to efficiently manage cyber risks. It helps improve your organization’s corporate culture and business processes, thereby reducing risk and enhancing security in the process.
A cyber resilience plan helps you comply with complex legal and regulatory requirements. This technique minimizes business interruptions and downtime. At the same time, it allows business operations to continue during and after an incident. When put into practice, any cyber resilience strategy must require a preventive measure. In this way, the effect of human errors, software vulnerabilities or incomplete or poorly executed configurations is prevented.
Therefore, the goal is to protect the organization. No matter how strong the security controls are, there will be insecure parts.
How Can Cyber Resilience Be Improved?
Here are four methods that you can use to strengthen your organization’s cyber resilience:
- Automation.
- Implement Stringent Security Protocols.
- Make Cyber Resilience a Part of Your Corporate Culture.
- Back Up Your Data.
Sources:
(1) asic.gov.au
(2) spanning.com
(3) itgovernance.eu
by Rebeca | Mar 9, 2022 | cybersecurity, Resources, soffid
Every company must face the new cybersecurity challenges and for this there is a new approach. “Developing a fully integrated strategic approach to cyber risk is fundamental to manufacturing value chains as they align with the operational technology (OT) and IT environments—the driving force behind Industry 4.0“, Deloitte said recently.
With the advent of Industry 4.0, threat vectors are expanding. That is why new risks must be considered and addressed. The main objective will be to implement a safe, vigilant and resilient cyber risk strategy. When supply chains, factories, customers, and operations are connected, the risks of cyber threats increase. The risks are enhanced and have a greater scope, he added.
Adopting new approaches and challenging conventional thinking is essential in an increasingly digitized world. “In terms of security, if we’re not moving forwards and developing, then we are effectively going backwards because our adversaries will definitely be moving forward,” commented Johnson (partnerships and outreach manager (digital and STEM), founder and director of Women in Cyber Wales)
Technology change has been beneficial to both organizations and its employees. The adoption of technological innovations by organizations has skyrocketed in recent decades. increase global spending on technology across all industries.
The adoption of new technologies brings many benefits to the company. At the same time it comes with risks and free threats. The new technology must fit perfectly into the business. If the right fit is not ensured the sustenance will be at large risk.
The adoption of new technologies to overcome cybersecurity challenges
New technology while adopting create internal conflict in an organization. They are such as managerial, Technological, sociological and economic related. There are several attributes of conflicts and they are usability, interoperability, common business views, agility, scalability, reliability, openness, manageability, infrastructure and security. Here Security assumes major role.
With data breaches continuing to pose a threat to any emerging technology, it’s critical to think about a good investment in cybersecurity. The increase in technology exists in any type of business, from health care, finance, manufacturing, services or any other. In order for these companies to be able to exploit them efficiently and prosper, they must put into practice cybersecurity policies and practices.
It is necessary to adequately analyze the security risks of the technology that will be implemented. In addition, before institutionalizing technologies, effective strategies must be implemented.
Why Security Standards Are Important
Conformance with established standards and best practices is essential for increasing the protection baseline in cybersecurity. Many organisations lack personnel experienced in the domain and, therefore, have a hard time adopting new approaches and techniques. Education is an important component, but in-depth knowledge is hard to transfer.
Thus, certification methodologies that distil certain best practices into structured, easy-to-apply guidelines have an important role in the proliferation of cybersecurity innovation.
The Evolution of Threat Hunting
Threat hunting continues to evolve for organizations that focus on proactively detecting and isolating Advanced Persistent Threats (APTs) that might otherwise go undetected by traditional, reactive security technologies.
While many SOCs are struggling to cope with the current security threat workload, more organizations are adopting threat hunting as part of their security operations. They are discovering that proactive threat hunting can reduce the risk and impact of threats while improving defenses against new attacks.
Source:
(1) cyber-security.com
(2) cio.com
(3) Deloitte.com
(4) cybersec4europe.eu
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by Rebeca | Mar 2, 2022 | cybersecurity, News, soffid
A digital signature is a mathematical technique used to validate the authenticity and integrity of a message, software or digital document. Everywhere you can see the importance of digital signatures. The digital equivalent of a handwritten signature or stamped seal, but it offers far more inherent security. A digital signature solves the problem of tampering and identity theft in digital communications.
Digital signatures evidence the origin, identity and status of electronic documents, transactions or digital messages. Signers also use it to acknowledge informed consent.
Where lacks the importance of digital signatures?
In many countries, including the United States, digital signatures are considered legally binding. In the same way as traditional handwritten document signatures.
The use of “digital signatures” has exploded during the pandemic. Around the globe, people have changed how they travel, transact, and work. In the manufacturing sector, organizations have gravitated to hybrid work environments. In all these cases, this tool protects digital interactions and digital assets, from documents to software code.
Unfortunately, all of these digital assets remain at risk. Because the signing certificate expires. Fraudsters can make these certificates appear as if they are still valid. But time stamping services prevent forgeries. This process gains confidence in digital signatures.
Are digital signatures secure?
Yes, electronic signatures are safe. People often ask, “Can my digital signature be forged, misused, or copied?”. Furthermore, it is very easy to forge or manipulate wet signatures. Instead, electronic signatures have many layers of security and authentication built in. Therefore, its use is valid in legal proceedings.
The importance of a security-first approach to e-signatures
The level of e-signature security varies by provider, so it’s important to choose an e-signature provider that has robust security and protection weaved into every area of their business. Those security measures should include:
- Physical security: protects the systems and buildings where the systems reside
- Platform security: safeguards the data and processes that are stored in the systems
- Security certifications/processes: help ensure the provider’s employees and partners follow security and privacy best practices
Until now, digital signatures were useful as a tool only for internal company purposes. Consequently, online transactions and other processes use this tool. This tool allows transactions to be safe and smooth for both sellers and customers. Authentication is effective even if it is digital. Therefore, digital signatures are a form of authentication.
Learn all about digital identity.
Advantages of using digital signatures for online transactions
With such a structured way of working, this tool allows offer distinct advantages in securing online transactions.They are equipped with an ever-evolving array of technologies and advanced security systems. What are these advantages? Check out the list below.
- Minimize the risk of payment fraud
- Simplify contract execution
- Share data more securely
The development of the digital economy is currently a new phenomenon in global economic governance. Both in developed and developing countries. That is why the role of digital signatures in the new business economy is growing more and more.
References:
(1) Solution Review
(2) Docusign
(3) Techtarget
Picture:
Foto de Coche creado por gpointstudio – www.freepik.es
by Rebeca | Feb 23, 2022 | cybersecurity, Resources, soffid
Cybersecurity has become much more complicated in recent years and that affects the digital trust of a company. The days when antivirus software and a network firewall were enough to get the job done are behind us. In the past, many IT professionals were very good at defending the perimeter to keep digital assets safe. But in today’s IT environment, such a perimeter does not exist.
Digital Trust in companies and its importance
With the rise of cloud computing, DevOps, the IoT and employees accessing systems with an array of devices from all over the world, the network “perimeter” has become difficult to define. In response, companies are shifting their attention to authentication. In response, companies are shifting their attention to authentication. Companies are moving away from traditional perimeter security methods in favor of strong identity-centric technology. As well as choosing digital certificates instead of public key infrastructure (PKI).
2021 was another memorable year. In fact, many organizations create remote processes in response to the pandemic. That’s why he spent this past year optimizing and hardening his systems. In this way they can guarantee a positive and safe experience for their client.
However, with identity theft, payment fraud, phishing, and other financial crimes at an all-time high, the work of digital security is never done. In an era of ever-present digital threats that can undermine and erode stakeholder trust, organizations should invest to earn “digital trust”. That is, protect their data and information from fraud and bad actors to safeguard their relationships, reputation, and revenue. This task could be more difficult than ever before as technology and the threats to digital trust it enables continue to evolve.
Requirements and details about digital trust and its importance
The stakes are high and any misstep can affect customer loyalty. In addition to negatively changing financial performance, brand value and ultimately undermining an organization’s ability to build and maintain trust. Surveys suggest that 81% of consumers lose trust in a brand after a breach. While 25% stop interacting with it altogether. The pandemic accelerated the move to digital work infrastructures. This drove spending on emerging technology security strategies and solutions.
It is important to note that addressing digital trust must include an end-to-end interdisciplinary approach between people. As well as between processes, governance and regulation, with technology being a key enabler. In this study, we focus on advanced technology enablers that organizations can explore, over and beyond existing cyber measures, to enhance digital trust.
Chief security officers should play a key role in building trust with customers, and that translates to better customer acquisition, greater customer loyalty, and more revenue.
Digital trust is the measure of consumer, partner and employee confidence in an organization’s ability to protect and secure data and the privacy of individuals. As data breaches become bigger and more common, digital trust can be a valuable commodity for companies that earn it, and it is starting to change the way management looks at security.
How to build trust with customers
Building trust is no simple task. As well as doing the normal security tasks of implementing the right technologies and processes to ensure good security posture, organizations need to communicate.
To help build trust, he says organizations need to be upfront and transparent with their customers. They should clearly explain what they are doing with data and why, be clear what data is being collected and what it will be used for, and explain what security steps and processes are in place to ensure it remains secure.
Final words about digital trust
For example, using multifactor authentication (MFA) is good security practice, but communicating why a customer is being asked to provide extra authentication during a transaction or process helps build that trust. “It’s important that a company demonstrates to their customers why they’re putting extra layers of security; say ‘we’re doing this because’ as opposed to ‘we’re doing this’.”
References:
(1) Deloitte
(2) security Solution
(3) Solution Review
Picture:
Foto de Negocios creado por rawpixel.com – www.freepik.es
by Rebeca | Feb 16, 2022 | cybersecurity, soffid
At the heart of remote cybersecurity is Privileged Access Management (PAM). It’s the protection around sensitive and privileged user accounts, which are the crown jewels for cybercriminals. For the channel, PAM creates a new revenue stream and further business opportunities with their customers. It is true that having unrestricted access to clients’ IT estates is part and parcel for a service provider. But, it does pin a huge target on their backs.
Offering comprehensive PAM solutions will enable channel partners to secure, manage and monitor access to their own privileged accounts. As well as those of their clients, keeping the most valuable keys to their network safe.
Remote working is here to stay, and the channel is pivotal in supporting organisations in their efforts to maintain the best protection against cyber attacks. Whether they’re adopting a hybrid, or fully remote working model. Channel partners have a rich portfolio of security solutions. They are in the ideal position to facilitate these flexible models and provide organizations with the seamless IT support. Because they need to connect workers securely, irrespective of their location.
Privileged Access Management can provide partners with greater security not only for their clients but for their own accounts too
In today’s cyber environment, stolen and misused privileged accounts can be used to inflict tremendous damage. As well as the access they provide to sensitive and critical data and hosts
Implementing a Privileged Access Management (PAM) tool
Implementing a PAM tool reduces the likelihood of privileged credentials being compromised or misused in both external breaches and insider attacks. Such tools also help reduce the impact of an attack when it occurs. Because radically short the time during which the organization is unaware that it is under attack or being subverted. Cloud security, anomaly detection, and securing the software development life-cycle also can be addressed with a PAM tool. As can regulatory compliance and operational efficiency.
PAM solutions need to be aware of not only who a user is, but also to which resources they should be granted privileged access. To enhance security even further, strong PAM solutions tend to have their own layers of security capabilities. That is, they will have the ability to limit user access not only by role, but also by other factors, such as time and location. This ensures that even an authenticated user only sees the specific resource being accessed, and only when appropriate.
As a quick example, a given user has privileged access to a server to perform an upgrade because they have the server administrator role. But the PAM administrators might also limit that privileged access, for business reasons or simply as a security practice. Granting a two-hour window starting at midnight, for example.
Outside of that time frame, even with the login credentials, the user won’t be able to access the server for good or malicious reasons.
Multifactor Authentication (MFA) & Privileged Account Management (PAM)
If a user has successfully authenticated to the system, the PAM system will provide the user the privileged access they have been granted. Of course, that’s entirely appropriate, when the user is who they say they are. At the same time it is potentially disastrous when a privileged user within the system is not who they say they are.
Strong PAM solutions have safeguards to protect against this very situation. Session management tools, for example, will alert the security team (or automatically kill the session) when the activity undertaken by a privileged user is outside of defined parameters. One possible case might be a so-called database administrator who suddenly starts rapidly executing a large number of queries against multiple databases.
But what of the case where a hacker has stolen a DBA’s credentials, gained entrance to the system? And then undertakes activity which does not raise alarms, such as running an occasional query as the legitimate DBA might do?
Once you gain access to the system, do you engage in non-alarm activity? Like running an occasional query like a legitimate DBA would.
How do MFA and PAM work together?
This is the kind of situation that MFA and PAM solutions avoid when they work together.In this way they provide a true layered defense of security. Where strong PAM solutions excel at providing only the appropriate access to privileged users. A strong MFA vs. PAM capability ensure users are who they say they are before they get to the point of granting privileges.
It’s a layered strategy that truly helps security teams and administrators create a defense-in-depth. It is a solid way to increase the cybersecurity of a company. Especially in today’s environments that are subject to constant hacking attempts.
References:
(1) Newsweek.com
(2) secureworld.com
(3) Dark Reading
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