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IoT Security Best Practices to Confront Security Challenges

IoT Security
The demand for IoT devices is increasing. According to Statista, the estimated global IoT spending will be $1.1 trillion approximately. So, it is evident that there will be a surge in IoT devices in businesses. However, the fact is that these devices come with a lot of IoT security issues that affect the overall business process.

Some of the security challenges of IoT are:

  • Insecure interfaces
  • IoT malware and ransomware
  • Gap in IoT skills
  • Insufficient testing and updating
  • Brute-forcing and the issue of default passwords
  • Highjacking IoT devices
  • Home Invasions

Indeed, the dangers of IoT security are here to stay. However, you can take steps to protect your users from these threats by using best practices on your IoT device.

  • Compared to 15.8 billion in 2021, the size of the IoT security market is projected to grow to 18.6 billion in 2022.
  • The market is predicted to nearly double in size by 2025, making it a smart bet to invest in IoT security now.


IoT Security Challenges for New Age Businesses

The Internet of Things has introduced new ways to interact with the internet. IoT is no longer restricted to personal use, machines use it too, with the help of human help or by following the directions.

The internet allows devices to communicate with one another. A thermostat, for example, receives information about the room temperature and adjusts it accordingly. Likewise, lights switch on and off automatically, and sensors denote the time of day and the amount of light outside. All of this is accomplished through constant internet communication.

People are excited about IoT, which is why they’re willing to use it even before it is ready and before the devices comply with the safety regulations.

IoT technology is still in its early stages. Therefore, makers and consumers must overcome numerous IoT security obstacles. These obstacles are primarily caused by:

  • Inadequate user knowledge
  • Inconsistent production standards
  • Inadequate upkeep and upgrades

IoT security concerns and vulnerabilities can be presented in broad categories. Some of the most significant IoT security challenges are:

  • Hijacking of IoT devices and ransomware
  • Insufficient testing and lack of updates
  • IoT-driven financial crime
  • Rogue and counterfeit IoT devices
  • Lack of user awareness regarding the Internet of Things security


IoT Security Solutions for New Age Businesses


Update your IoT Devices Regularly

Automatic updates must be in place to check for official updates by the device maker. This installs security patches on your device(s), preventing hackers from infiltrating them in novel ways.

There are two ways to regularly update IoT devices for businesses regularly.

  • Physical Update
This is the traditional way of physically accessing the system or device and updating it. This can be as simple as connecting the IoT device to a computer and updating it.

  • Remote/OTA (Over-The-Air) Update
Numerous devices make it difficult to update every device through a physical update. OTA updates are used to update IoT devices remotely. Again, wireless communication mediums can carry this out with reduced human assistance.

Change your Passwords Regularly and Make them Strong

Changing passwords on various accounts, laptops, and mobile devices frequently has been the norm for a long time now. However, while changing passwords is a standard practice, IoT users often ignore it.

Changing the passwords on a regular basis reduces the likelihood of getting hacked. There is a chance that the manufacturers have the same password for all the IoT devices they produce. So, it is advised to change password as soon as it is installed. Strong passwords improve the security of IoT devices.

Use IoT Data Encryption to Prevent Data Breaches

If you're serious about safeguarding users' privacy and preventing data breaches, you must encrypt data between IoT devices at rest and in transit. This is a critical step in protecting users, whether you use symmetric or asymmetric keys.

There are many essential elements to implementing data encryption, such as:

  • Collaborative strategy
  • Data classification
  • Protect decryption keys
  • Control and limit access
  • Use of SSL decryption technology


Test and Update the IoT Hardware Regularly

To ensure IoT hardware security, set up a robust testing infrastructure. This includes thoroughly testing the IoT device's range, capacity, and latency. In addition, chip manufacturers for IoT devices must strengthen processors for increased IoT security and lower power consumption without making them too expensive for users or too impractical to use in current IoT devices. Many IoT devices available on the market today are indeed cheap and disposable, but they have very little power.

In addition, IoT device manufacturers must make sure that any third-party parts and modules they use in their IoT devices work correctly with their IoT applications.


Avoid Rush Launch of IoT Devices

Manufacturers of IoT devices are frequently rushing to introduce their products to the market at the lowest prices to stay ahead of the competition. Most manufacturers don't pay enough attention to IoT security updates and patches. Unfortunately, in the long run, this poses a severe threat to the security of their IoT devices. So, IoT device manufacturers should not release their products until they have thought about keeping their devices and apps safe in the long run.

The future IoT Security

Industry experts are researching the security problems associated with the Internet of Things. This aproach is expected to bring more possibilities of IoT devices in businesses, solving many security issues.

By 2023, more and more businesses will see the scope of the IoT, with business investment accounting for more than half of all IoT spending. This means that manufacturers will need to double down on their IoT security efforts to meet corporate expectations.

Ordinary users will also have to learn about and stay updated on IoT security changes and their significance.

This, like other advancements, begins with concerted efforts at a higher level. Among other things, the U.S. Congress sponsored a cybersecurity bill in March 2019. This bill would ensure that IoT devices bought by the government have at least basic security features.

Summing Up

On a meticulous evaluation, one can say that the bigger the IoT world gets, the more critical it becomes to prioritize IoT data privacy and security.

Unfortunately, cyber-attacks and rogue devices are here to stay, and with time, they will get smarter. Therefore, you have to keep up-to-date on the latest attacks and ensure that you continue to focus on opting for the most acceptable security and privacy features possible. This protects you from data breaches and increases customer confidence and trust in your product.


Frequently Asked Questions


Why is IoT security a necessity for businesses?

For IoT gadgets to function properly, they require secure hardware, software, and internet connectivity. Unfortunately, any connected equipment can be hacked if IoT security is not in place. Once they gain control, hackers can take control over the object's functioning and steal the user's digital data.

What are some of the security issues in IoT?

A lot of security issues include not having access control, overly large attack surface, outdated software, lack of encryption, application vulnerabilities, lack of trusted execution environment, vendor security posture, and insufficient privacy protection.

Are IoT devices safe?

While most IT systems can patch security problems through frequent updates, most IoT devices cannot. Security flaws remain unnoticed and unattended for an indefinite period. IoT devices that have an exceptionally extended shelf life will stop working if the manufacturer stops supporting them.

Spotlight

Secure Network Technologies, Inc.

Secure Network Technologies, Inc. is a full service information security firm based out of Syracuse, NY. Secure Network offers a wide range of security and investigative services including: network penetration testing, digital forensics, social engineering, application security assessments and physical security testing. Secure Network has been offering superior security services since 1997 to clients all over the United States and internationally.

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Protection vs Privilege

Article | November 30, 2023

As of May 2023, 39% percent of workers in the UK work from home at some point during their week. Whilst understandable, the hybrid-working environment continues to pose more risks to organisations and their data. As more devices are accessed beyond the confines of the corporate network, businesses must account for the inherent risks presented by insecure or non-existent endpoint control. As users of these devices have more administrative control, and without the constant presence of IT services, the door is left open for increased phishing, ransomware and malware attacks. A daunting 88% of data breaches are now caused by employee error. Just earlier this month, the genealogy company 23andMe confirmed that its data had been compromised in an attack from hackers who claimed to have accessed millions of data points from accounts by taking advantage of users login credentials. The problem with this is that the users are not the root of the issue. The concern comes not only from employees, but from the number of endpoints being accessed from multiple locations, and the lack of control over the access and privileges that these devices have. A frightening statistic revealed in a study from Forbes, showed that 23% of UK and US small businesses used no form of endpoint security, and that a further 57% simply believe they won’t be targeted by cyber-attacks. The reason this is so concerning is that cybersecurity companies have reported a 20% increase in victims of such attacks just in the last year. These attacks not only put company and customer data at risk but can also result in a strain on IT services and leave users without the systems and tools essential for productivity. Preventing unlimited access One of the ways that attacks break through endpoints and escape into an organisation's network is by exploiting local admin rights on end-users' workstations. Those local admin rights are handy for the user. 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It has been reported that 70% of all data breaches are targeted at privileged accounts, which is especially alarming when taking into account the fact that 90% of IT security professionals have said that their organisations’ users have more privilege than is necessary. The issue for many companies arises in finding the balance between the users’ access to local admin rights and their productivity. More open access to the admin rights makes things easier and convenient for the users but opens the door to security risks with more endpoints to target. A study by the Ponemon Institute showed that 73% of organisations believed that threats to their endpoints had significantly increased, and that a staggering 80% of organisations that had been compromised by cyber-attacks did not know what type of attack they had been subjected to. The need for a more effective and efficient security measure is clear. Endpoint privilege management (EPM) oversees and governs the privilege of network devices. It completely removes the need for users to have administrator accounts on the devices they use, whilst still enabling them to have elevated access to certain applications. EPM only elevates approved applications and provides the users with a clear audit list of those which have been approved. Privilege to protect Whilst not a universal fix, the implementation of EPM, for example, can help alleviate the risks and reinforce a culture of security within organisations. It is understandable to be cautious when faced with words and phrases such as “approved applications” or “removing administrator rights”, but EPM is not about limiting your users’ experience or productivity. EPM does not forbid or remove access to applications. The IT team can grant approved users’ permission to run specific applications with elevated permissions for a limited period, to carry out specific actions. Users can then access what they need to, while IT retains visibility over all actions in case activity needs to be stopped, or incidents need to be investigated at a later date. If permissions need to be granted on an individual basis, for each user and application, IT will be buried under an avalanche of requests – so EPM tools will allow rules and policies to be created and then applied at scale. Users can do the work they need with few calls to the Help Desk. IT gets fewer interruptions and can focus on more valuable work. Auditors can see who had access to which applications and logs show the actual users, not an arbitrary administrator account. Endpoint privilege management is vital to any organisation's cybersecurity strategy, not only to manage and control access to sensitive data and resources but minimise the chance of a data breach. EPM also plays a crucial role in ensuring compliance with industry standards and regulations to avoid the legal liabilities that may ensue should a breach occur.

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Protection vs Privilege

Article | November 30, 2023

As of May 2023, 39% percent of workers in the UK work from home at some point during their week. Whilst understandable, the hybrid-working environment continues to pose more risks to organisations and their data. As more devices are accessed beyond the confines of the corporate network, businesses must account for the inherent risks presented by insecure or non-existent endpoint control. As users of these devices have more administrative control, and without the constant presence of IT services, the door is left open for increased phishing, ransomware and malware attacks. A daunting 88% of data breaches are now caused by employee error. Just earlier this month, the genealogy company 23andMe confirmed that its data had been compromised in an attack from hackers who claimed to have accessed millions of data points from accounts by taking advantage of users login credentials. The problem with this is that the users are not the root of the issue. The concern comes not only from employees, but from the number of endpoints being accessed from multiple locations, and the lack of control over the access and privileges that these devices have. A frightening statistic revealed in a study from Forbes, showed that 23% of UK and US small businesses used no form of endpoint security, and that a further 57% simply believe they won’t be targeted by cyber-attacks. The reason this is so concerning is that cybersecurity companies have reported a 20% increase in victims of such attacks just in the last year. These attacks not only put company and customer data at risk but can also result in a strain on IT services and leave users without the systems and tools essential for productivity. Preventing unlimited access One of the ways that attacks break through endpoints and escape into an organisation's network is by exploiting local admin rights on end-users' workstations. Those local admin rights are handy for the user. For example, they can install a new printer driver or update an application plug-in without calling the IT help desk. But they can also be abused to install malware or configure the computer to make an attack easier. It could be easy to remove those local admin rights or the shadow user account on the workstations with those elevated permissions. But that will frustrate end-users and increase the load on the help desk. The key issue here, is the concept of privilege. Users often need the privilege to elevate their devices by running an administrator account in order to gain access to, and update applications. Unfortunately, this greatly increases risk as these elevated administrator accounts are much more attractive to hackers for this exact reason - their access to more lucrative data. It has been reported that 70% of all data breaches are targeted at privileged accounts, which is especially alarming when taking into account the fact that 90% of IT security professionals have said that their organisations’ users have more privilege than is necessary. The issue for many companies arises in finding the balance between the users’ access to local admin rights and their productivity. More open access to the admin rights makes things easier and convenient for the users but opens the door to security risks with more endpoints to target. A study by the Ponemon Institute showed that 73% of organisations believed that threats to their endpoints had significantly increased, and that a staggering 80% of organisations that had been compromised by cyber-attacks did not know what type of attack they had been subjected to. The need for a more effective and efficient security measure is clear. Endpoint privilege management (EPM) oversees and governs the privilege of network devices. It completely removes the need for users to have administrator accounts on the devices they use, whilst still enabling them to have elevated access to certain applications. EPM only elevates approved applications and provides the users with a clear audit list of those which have been approved. Privilege to protect Whilst not a universal fix, the implementation of EPM, for example, can help alleviate the risks and reinforce a culture of security within organisations. It is understandable to be cautious when faced with words and phrases such as “approved applications” or “removing administrator rights”, but EPM is not about limiting your users’ experience or productivity. EPM does not forbid or remove access to applications. The IT team can grant approved users’ permission to run specific applications with elevated permissions for a limited period, to carry out specific actions. Users can then access what they need to, while IT retains visibility over all actions in case activity needs to be stopped, or incidents need to be investigated at a later date. If permissions need to be granted on an individual basis, for each user and application, IT will be buried under an avalanche of requests – so EPM tools will allow rules and policies to be created and then applied at scale. Users can do the work they need with few calls to the Help Desk. IT gets fewer interruptions and can focus on more valuable work. Auditors can see who had access to which applications and logs show the actual users, not an arbitrary administrator account. Endpoint privilege management is vital to any organisation's cybersecurity strategy, not only to manage and control access to sensitive data and resources but minimise the chance of a data breach. EPM also plays a crucial role in ensuring compliance with industry standards and regulations to avoid the legal liabilities that may ensue should a breach occur.

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Network Threat Detection, Platform Security, Software Security

The Elite 10: Unveiling Top Network Security Solutions in 2023

Article | July 18, 2023

The EU NIS cyber security regulations are evolving for 2024 – and if you’re not currently aware of how they’ll apply to your organisation, now is the time to get up to speed with the likely requirements. Not only is the directive being tightened, but an extended range of healthcare and related organisations will be added to the list of ‘critical entities’ that must comply. These include certain medical device manufacturers, pharmaceutical companies, and organisations that carry out R&D. The Network and Information Systems (NIS) standards were set up in 2016 to protect essential services – such as water, energy, healthcare, transport and digital infrastructure – from online cyberattacks. The updated legislation, NIS2, will have stricter rules and reporting requirements, and higher penalties for non-compliance. They will apply to medium-sized and large businesses that operate within one or more EU countries. Those based only in the UK can’t sit back, however, as the original NIS regulations will still apply as part of British law. What’s more, a UK version of the rules is coming very soon, and it’s likely that the framework will closely resemble the EU’s. What will the requirements cover? There are a number of cyber risk management measures that all organisations that come under the scope of NIS2 will be required to put in place. For instance, they will need to conduct regular security assessments and risk analyses, adopt incident response and handling plans, and appoint a chief information security officer (CISO), among other obligations. The new directive will streamline and strengthen incident reporting requirements. Entities must notify regulators of any incident that has compromised data, or had a significant impact on the provision of their services, for instance by causing severe operational disruption or financial loss. Applying information system security policies and business continuity plans will form part of the obligations, as will conducting cyber security testing, and training for all staff. The use of multi-factor authentication (MFA) and encryption, where appropriate, will also be mandated. There is plenty of focus within the directive on the cornerstones of cyber security best practice – in particular the proper control of administrator-level account credentials, privileged access, and endpoints, all of which are prime targets for attackers. Under NIS2, organisations are being separated into ‘critical’ and ‘important’ entities. It’s important to determine which category yours will fall under, as requirements are different for each. The third party threat will also be addressed in NIS2 through the pulling in of managed service providers (MSPs) to the list of ‘critical entities’, with the aim of keeping digital supply chains secure. MSPs are often granted privileged access to clients’ corporate systems and networks, which creates security risks. What are the consequences of non-compliance? Organisations that come under the regulations’ purview will be subject to random checks, regular security audits, on-site inspections and off-site supervisions. For those found to be in breach, sanctions could include warnings, temporary suspension of certain activities, and temporary prohibition to exercise certain managerial functions. Financial penalties could be as high as 10 million Euros or 2% of an organisation’s global turnover – whichever is higher. What steps should healthcare organisations take now? Organisations should take action to establish whether the EU or UK NIS2 regulations will apply to them and what their responsibilities will be. Having identified any gaps in existing cyber security processes, policies and practices, they must determine what changes need making to address them. As a priority, they must review their incident response plans, and incident management and reporting procedures. It’s also a good idea to begin assessing the security posture of partners and third parties in the supply chain, and incorporating relevant security requirements into contracts. Given the framework’s focus on protecting privileged admin accounts, organisations should implement controls that will limit the number of staff members who hold these powerful credentials. Implementing privileged access management (PAM) will allow IT to control who is granted access to which systems, applications and services, for how long, and what they can do while they’re using them. Preparing for the introduction of the EU NIS2 regulations should be considered as more than just a compliance exercise. By meeting the strengthened requirements, healthcare organisations will be building a foundation of resilience that protects them, their customers, and the essential services they provide.

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Network Threat Detection, Platform Security, Software Security

Digital Defense 2023: Top Network Security Trends for Businesses

Article | June 28, 2023

Uncover the network security leaders at the forefront of fortifying digital space against an array of cyber threats. Discover solutions tailored to ensure business's online safety and continuity. In the expanding digital space, where cyberattacks and data breaches are a constant threat, businesses of all sizes must prioritize network security to preserve customer confidence, safeguard sensitive data, and ensure uninterrupted operations. With this, selecting the right network security provider has become an integral element of a company's cybersecurity strategy. As businesses continue to navigate the technological landscape, working with a dependable and holistic network security provider is an investment that pays off in terms of protecting assets, maintaining trust, and ensuring continuous operations. Here are some of the leading network security providers for businesses: 360 SOC, Inc. 360 SOC, Inc., a cybersecurity corporation headquartered in Scottsdale, Arizona, is a model of innovation and efficiency. Together with its sister company, HTG 360, Inc., the company has earned a commendable reputation for providing cutting-edge security solutions to marginalized business communities at competitive prices. With a team of experienced security consultants, visionary business leaders, and adept engineers, 360 SOC employs its distinctive 'Reverse DNA' methodology, which leverages a unique combination of business acumen and technological expertise. Praetorian Praetorian is at the forefront of offensive security services, providing enterprises with unwavering assistance in navigating the digital domain. Utilizing profound cybersecurity expertise, the company's skilled professionals provide the necessary knowledge to fortify defenses against persistent and sophisticated attacks. Its managed services provide full protection against an exhaustive range of attack vectors, including external, internal, cloud, web applications, secrets, phishing, and supply chain and vendor risks. With Praetorians as their vigilant guardian, Chief Information Security Officers (CISOs) of the world's prominent businesses are confident in their ability to propel digital expansion without hindrance. SecqureOne For the past 17 years, SecqureOne (SQ1), a prominent Silicon Valley-based cybersecurity and compliance solution provider, has graciously served global businesses. SQ1 has emerged as a trustworthy security partner for companies across various industries, including healthcare, pharmaceuticals, financial services, manufacturing, retail, hospitality, insurance, government, legal, technology, oil, and energy. Its platform, SQ1Shield, combines 24x7 vigilant monitoring led by skilled cybersecurity analysts, Managed Detection and Response (MDR) services for endpoints and networks, and proficiency in Security Orchestration and Automated Response mechanisms. NordLayer NordLayer stands as a leading provider of flexible and easily deployable cybersecurity solutions for businesses of all sizes and operational models, developed using NordVPN's excellence as a benchmark. The company's mission is to facilitate network security for businesses, enabling a streamlined approach to fortification. By enhancing internet security and modernizing network and resource access, NordLayer offers technological enhancements that align with the most stringent regulatory compliance requirements. Following the Zero Trust Network Access (ZTNA) and Secure Web Gateway (SWG) principles, NordLayer focuses on the security service edge within cybersecurity services. Silver Spring Networks Silver Spring Networks is a pivotal enabler of the Internet of Important Things, consistently promoting the dependable and secure interconnection of important entities. Municipalities, utilities, and corporations across five continents leverage the company's cost-effective and high-performance IoT network and data platform to improve operational efficiency, embrace sustainability and indicate cutting-edge offerings poised to improve countless lives. With a track record of delivering over 27.3 million devices, Silver Spring Networks offers a battle-tested, standards-driven, and military-grade secure foundation. Absolute Software Absolute Software emerges as the sole provider of intelligent, self-renewing security solutions. The company distinguishes itself as the only platform orchestrating an enduring digital linkage that proficiently and dynamically imparts visibility, control, and self-healing characteristics on endpoints, applications, and network connections. This fortification enables clients to strengthen their cyber resilience against the rising tide of ransomware and malicious attacks. Absolute's eminence is highlighted by its lasting recognition as a Leader in G2's Summer 2023 Grid Report for Endpoint Management - a prestigious honor earned for the fourteenth consecutive quarter - and as a Leader for the fourth successive quarter in the grid for Zero Trust Networking. ARIA Cybersecurity Solutions ARIA Cybersecurity Solutions is a leading firm that provides multifaceted solutions with dual functions: increasing the efficacy of businesses' existing security infrastructure and helping the deployment of extensive AI-driven Security Operations Center (SOC) capabilities within a unified framework. The company's solutions introduce novel methods for monitoring internal traffic, in addition to cautious analytics directed at security tools such as SIEMs or its ARIA ADR application, through novel approaches. This synergy significantly amplifies threat detection and proactively thwarts cyberattacks and data intrusions. Diverse industries rely on ARIA Cybersecurity Solutions services to strengthen their security posture, regardless of their operational context. ES Cyber Solutions Headquartered in Willowbrook, IL, ES Cyber Solutions (formerly ESPO Systems) is a renowned cybersecurity company offering a vast array of services and solutions carefully designed to address complex security requirements. The company is proud to represent six prominent cybersecurity vendors and their respective partner networks, with a primary focus on managed security services provisioning (MSSP) and professional services. With a history dating back to 2009, ES Cyber Solutions has a proven track record of providing remote and on-site professional services to over 8000 clients worldwide. Supported by cutting-edge technology, the skilled team assures rapid and effective deployment, enabling immediate value realization for esteemed clients. Skybox Security Skybox Security, headquartered in San Jose, California, stands out as an unrivaled organization that provides an all-encompassing view of hybrid and multi-cloud networks and facilitates an in-depth understanding of the attack surface. The company streamlines the process of identifying, prioritizing, and resolving vulnerabilities by providing businesses with holistic visibility, sharp analytics, and effective automation. This transformative strategy optimizes security policies, actions, and change processes across all enterprise networks and cloud environments. By adopting Skybox Security, businesses enable their security teams to transfer their attention to strategic business initiatives, ensuring secure business enablement on a vast scale. Nexum, Inc. Nexum, Inc., founded in 2002 in Chicago and headquartered in Hammond, Indiana, develops custom solutions to meet businesses' specific needs, ranging from identifying and preventing network threats, intrusions, and disruptions to ensuring frictionless alignment with business objectives. The company excels in multiple domains, including security engineering and architecture services, managed security services, and level 1 and level 2 support programs for prestigious brands. Its unwavering dedication to protecting digital landscapes exemplifies its commitment to a diverse clientele, spanning from multinational corporations to smaller, regional, and local organizations. NextRay AI Detection & Response Inc. NextRay AI Detection & Response Inc. stands as a pioneering AI-driven cybersecurity enterprise. Using cutting-edge technology, NextRay AI provides sophisticated and proactive solutions that are meticulously designed to empower clients to combat complex threats, zero-day vulnerabilities, and cloud-based assaults with unmatched efficacy. The company's extensive capabilities include enhanced network and threat visibility, Early Stage Detection and Response, Advanced Network Forensics, and robust AI and cyber security capabilities. This strategic combination of innovation and experience positions NextRay AI at the forefront of protecting digital terrains and enables businesses to navigate the ever-changing cybersecurity space confidently. ReasonLabs ReasonLabs has emerged as a pioneering force in cybersecurity, delivering Fortune 500-caliber cyber protection to countless home users worldwide. Powered by AI prowess, its cutting-edge antivirus engine analyzes billions of files across the globe, preventing cyberattacks in real time and around the clock. RAV Endpoint Protection, the company's primary endpoint security solution, constitutes a multi-layered defense strategy that effectively protects home users from the dangers of next-generation threats and serves as the centerpiece of its comprehensive suite. ReasonLabs is unwavering in its dedication to safeguarding digital domains, providing residential users with a line of defense comparable to the level of security employed by multinational corporations. Safari Micro Safari Micro, founded in 1997, has become a reputable value-added reseller specializing in IT hardware, software, and a plethora of services, including network infrastructure, cloud computing, storage, security, endpoint solutions, and managed services. The company serves a diverse clientele in the US, including businesses, state municipalities, educational institutions, and government agencies. Safari Micro's strategic powers reside in its ability to forge strong partnerships with manufacturers and distributors of varying sizes, allowing its sales and IT services professionals to deliver precise solutions precisely when needed. SBS CyberSecurity, LLC SBS CyberSecurity, LLC (SBS) is a reputable cybersecurity consulting and auditing firm of the highest caliber. Since its founding in 2004, SBS has assisted numerous organizations in establishing robust risk management programs and mitigating cybersecurity vulnerabilities effectively. The company is distinguished by its ability to provide customized, all-inclusive solutions, including cybersecurity risk management software, network security tools, consulting services, IT audits, and educational initiatives. Through its multifaceted approach, SBS CyberSecurity enables clients to make well-informed security decisions, instilling confidence in the security and integrity of their most vital data assets. Cynet Security Cynet Security is a pioneer and market leader in advanced threat detection and response. The company's devotion to simplifying security is demonstrated by its rapid deployment of an exhaustive platform that includes detection, prevention, and automated response to sophisticated threats, all while maintaining an exceptionally low rate of false positives. This method effectively reduces the time between detection and resolution, thereby minimizing the potential for damage to organizations. The company expands its offerings by providing consumers with access to a team of expert threat analysts and investigators 24 hours a day, seven days a week. Security Leaders: Transforming Network Security for Businesses As organizations rely increasingly on digital infrastructure to conduct operations, communicate sensitive information, and interact with customers, the surface area for potential cyber threats increases proportionally. This necessitates that businesses have extensive network security in order to place a crucial barrier between valuable assets and malicious actors, protecting against a spectrum of threats ranging from data breaches and ransomware attacks to phishing attempts. Since businesses navigate the complexities of the contemporary cyber frontier, these distinguished network security providers emerge as more than just protection mechanisms; they represent the sentinels of trust, dependability, and innovation. These industry-leading network security providers serve as an impregnable shield, allowing businesses to exploit the complete potential of technology without making any concessions.

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Security by Sector: Improving Quality of Data and Decision-Making a Priority for Credit Industry

Article | February 17, 2020

The subject of how information security impacts different industry sectors is an intriguing one. For example, how does the finance industry fare in terms of information security compared to the health sector, or the entertainment business? Are there some sectors that face greater cyber-threats and risks than others? Do some do a better job of keeping data secure, and if so, how and why?A new study of credit management professionals has revealed that improving the quality of data and decision-making will be a top priority for the credit industry in the next three years. The research, from Equifax Ingnite in collaboration with Coleman Parkes, takes a deep dive into the views of credit management pros across retail, banking, finance and debt management/recovery sectors.

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Spotlight

Secure Network Technologies, Inc.

Secure Network Technologies, Inc. is a full service information security firm based out of Syracuse, NY. Secure Network offers a wide range of security and investigative services including: network penetration testing, digital forensics, social engineering, application security assessments and physical security testing. Secure Network has been offering superior security services since 1997 to clients all over the United States and internationally.

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Platform Security

BeyondID Introduces Identity-First Model for Zero Trust Maturity

PR Newswire | October 04, 2023

BeyondID, a leading managed identity solutions provider, today announced the industry's first solution that accurately conveys the true nature of identity within the zero trust security framework. BeyondID's Identity Fabric Model for Zero Trust promises optimal threat detection, investigation, and round-the-clock remediation via the BeyondID Security Operations Center (SOC). The Zero Trust Maturity Model by CISA has gained widespread acceptance and acknowledges the importance of identity as a pillar in modern security, but it undervalues the critical role of identity in ensuring security, stated Arun Shrestha, co-founder and CEO of BeyondID. The effectiveness of your security posture depends on how quickly and accurately you can detect behavioral discrepancies, as recent high-profile security breaches demonstrate. Zero trust cannot be achieved without identity as the fabric. BeyondID is the first managed identity services provider delivering a holistic approach to zero trust. Its Identity Fabric Model supports seamless user experience outcomes by implementing a strong digital identity strategy across the board from devices to network, to apps and workload, to data. This holistic approach ensures optimal threat detection, continuous compliance, risk mitigation, and a high return on IT and security investments. The company also announced that it can provide organizations with the breach protection they need, including a service that can identity, isolate and remediate threats in as little as seven days. Utilizing BeyondID's SOC enables companies to get their zero trust solution up and running quickly, offering 24x7 protection from the persistent threat of cybersecurity attacks. As an esteemed Okta Apex Partner and Okta's most trusted implementation ally, BeyondID is committed to modernizing identity management and digital transformation. BeyondID is launching its next-gen zero trust services at Oktane23. Oktane23 attendees will be offered an exclusive, complimentary Zero Trust Assessment. About BeyondID BeyondID is a leading managed identity services provider that the most successful brands trust to bring their digital identity strategies to life. BeyondID helps organizations streamline their adoption process and ensure their implementations are secure, agile, and future proof. A few of the valued customers that trust BeyondID to keep their organizations secure include ATN International, Discount Tire, Johnson Financial Group, Major League Baseball, Mayo Clinic, Northern Trust, TDECU, and VF Corp. More information about BeyondID can be found at www.BeyondID.com.

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Platform Security

OpenText Cybersecurity Nastiest Malware of 2023 Shows Ransomware-as-a-Service Now Primary Business Model

PR Newswire | October 26, 2023

OpenText (NASDAQ: OTEX), (TSX: OTEX), today announced the Nastiest Malware of 2023, an annual ranking of the year's biggest malware threats. For six consecutive years OpenText Cybersecurity threat intelligence experts have analyzed the threat landscape to determine the most notorious malware trends. Ransomware has been rapidly ascending the ranks, with ransomware-as-a-service (RaaS) now the weapon of choice for cybercriminals. This year four new ransomware gangs, believed to be the next generation of previous big players, topped the list. Newcomer Cl0p takes the prize for this year's nastiest malware after commanding exorbitant ransom demands with its MOVEit campaign. Cl0p's efforts helped skyrocket the average ransom payment which is rapidly approaching three quarters of a million dollars. Black Cat, Akira, Royal, Black Basta also made their debut, joined by the always present, Lockbit. A key finding this year is the RaaS business model is another win for the bad guys. Profit sharing and risk mitigation are top contributors to RaaS success along with the ability to easily evade authorities, said Muhi Majzoub, EVP and Chief Product Officer, OpenText. There is a silver lining as research shows only 29% of businesses pay ransom, an all-time low. These numbers indicate people are taking threats seriously and investing in security to be in a position where they do not need to pay ransom. This year's list highlights the tenacity of cybercriminals as they continue to reinvent themselves, coming back stronger each time (often with new names). Their scrappy mentality allows them to go beyond the norm to find new ways to invade their target. 2023 Nastiest Malware Cl0p, a RaaS platform, became famous following a series of cyberattacks, exploited a zero-day vulnerability in the MOVEit Transfer file software developed by Progress Software. MOVEit victims include such notable organizations as Shell, BBC, and the United States Department of Energy. Black Cat, recognized in our 2021 Nastiest Malware report, believed to be the successor to REvil ransomware group, has built their RaaS platform on the Rust programming language. They made headlines for taking down MGM Casino Resorts. Akira, presumed to be a descendant of Conti, primarily targets small to medium sized businesses due to the ease and turnaround time. Most notably, Akira ransomware targeted Cisco VPN products as an attack vector to breach corporate networks, steal, and eventually encrypt data. Royal, suspected heir to Ryuk, uses Whitehat penetration testing tools to move laterally in an environment to gain control of the entire network. Helping aid in deception is their unique partial encryption approach that allows the threat actor to choose a specific percentage of data in a file to encrypt. Lockbit 3.0, a main stain on the list and last year's winner, continues to wreak havoc. Now in its third epoch, Lockbit 3.0 is more modular and evasive than its predecessors. Black Basta is one of the most active RaaS threat actors and is also considered to be yet another descendant of the Conti ransomware group. They have gained a reputation for targeting all types of industries indiscriminately. To learn more about the findings of this year's Nastiest Malware analysis, visit the OpenText Cybersecurity Community, as well as tune in to our Nastiest Malware Webinar.

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Platform Security

Verizon Holds Cybersecurity Event at NJ Executive Business Center

Verizon | October 13, 2023

Verizon Business has announces hosting a special cybersecurity event on October 18, 2023, marking two decades of cybersecurity consulting services at its New Jersey Executive Business Center. Participants will gain valuable insights into how Verizon is empowering companies to harness the potential of 5G network solutions. Alongside the cybersecurity panel discussion, attendees can expect live demonstrations highlighting Verizon's proficiency in developing exceptionally secure solutions. Verizon Business will host a special media event on October 18, 2023, marking two decades of cybersecurity consulting services and honoring Cybersecurity Awareness Month. The event will feature a panel discussion led by industry experts, including Chris Novak, Managing Director of Verizon Cyber Security Consulting; Sean Atkinson, Chief Information Security Officer at the Center for Internet Security; and Krista Valenzuela, Cyber Threat Outreach and Partnerships at The New Jersey Cybersecurity and Communications Integration Cell (NJCCIC). The panel promises an engaging dialogue encompassing critical themes such as data privacy, AI's influence on cybersecurity, the emergence of voice security, evolving security controls, and other pertinent subjects. Furthermore, the discussion will shed light on the strategies employed by local New Jersey organizations to counteract emerging cyber threats. Attendees will also gain insights into Verizon's role in empowering businesses through innovative 5G network solutions, enhancing security measures, and elevating their overall operations. Managing Director of Verizon Cyber Security Consulting, Chris Novak, said, Raising greater awareness about cybersecurity is the first step in assisting organizations defend against these cyber threats. [Source – Globe Newswire] Novak mentioned that Verizon is utilizing its network's extensive visibility to collect, report, and disseminate actionable insights. These insights can be used by customers and other businesses to tackle advanced cyber threats related to vulnerability exploitation and social engineering. Furthermore, demonstrations highlighting Verizon's proficiency in developing highly secure solutions will be presented in addition to the cybersecurity panel. They include: Coach-to-Coach Communications: Introducing a dependable and secure wireless network solution tailored for NFL coaches, enabling confidential communication on the field. Cashierless Checkout: Utilizing advanced machine learning and computer vision technologies, this innovative solution facilitates autonomous stores at any location. Integrated with 5G UWB and 5G Edge, it redefines the retail experience. Private Wireless Networks: Explore the benefits of premise-based equipment, highlighting the significance of private dedicated networks in enhancing business connectivity and security. Cyber Threat Outreach and Partnerships, NJCCIC, Krista Valenzuela, mentioned, One of the ways we’re harnessing the power of AI in New Jersey is in identifying suspicious and malicious websites to help the State and its critical infrastructure in better defending against these cyber threats. [Source – Globe Newswire]

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Platform Security

BeyondID Introduces Identity-First Model for Zero Trust Maturity

PR Newswire | October 04, 2023

BeyondID, a leading managed identity solutions provider, today announced the industry's first solution that accurately conveys the true nature of identity within the zero trust security framework. BeyondID's Identity Fabric Model for Zero Trust promises optimal threat detection, investigation, and round-the-clock remediation via the BeyondID Security Operations Center (SOC). The Zero Trust Maturity Model by CISA has gained widespread acceptance and acknowledges the importance of identity as a pillar in modern security, but it undervalues the critical role of identity in ensuring security, stated Arun Shrestha, co-founder and CEO of BeyondID. The effectiveness of your security posture depends on how quickly and accurately you can detect behavioral discrepancies, as recent high-profile security breaches demonstrate. Zero trust cannot be achieved without identity as the fabric. BeyondID is the first managed identity services provider delivering a holistic approach to zero trust. Its Identity Fabric Model supports seamless user experience outcomes by implementing a strong digital identity strategy across the board from devices to network, to apps and workload, to data. This holistic approach ensures optimal threat detection, continuous compliance, risk mitigation, and a high return on IT and security investments. The company also announced that it can provide organizations with the breach protection they need, including a service that can identity, isolate and remediate threats in as little as seven days. Utilizing BeyondID's SOC enables companies to get their zero trust solution up and running quickly, offering 24x7 protection from the persistent threat of cybersecurity attacks. As an esteemed Okta Apex Partner and Okta's most trusted implementation ally, BeyondID is committed to modernizing identity management and digital transformation. BeyondID is launching its next-gen zero trust services at Oktane23. Oktane23 attendees will be offered an exclusive, complimentary Zero Trust Assessment. About BeyondID BeyondID is a leading managed identity services provider that the most successful brands trust to bring their digital identity strategies to life. BeyondID helps organizations streamline their adoption process and ensure their implementations are secure, agile, and future proof. A few of the valued customers that trust BeyondID to keep their organizations secure include ATN International, Discount Tire, Johnson Financial Group, Major League Baseball, Mayo Clinic, Northern Trust, TDECU, and VF Corp. More information about BeyondID can be found at www.BeyondID.com.

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Platform Security

OpenText Cybersecurity Nastiest Malware of 2023 Shows Ransomware-as-a-Service Now Primary Business Model

PR Newswire | October 26, 2023

OpenText (NASDAQ: OTEX), (TSX: OTEX), today announced the Nastiest Malware of 2023, an annual ranking of the year's biggest malware threats. For six consecutive years OpenText Cybersecurity threat intelligence experts have analyzed the threat landscape to determine the most notorious malware trends. Ransomware has been rapidly ascending the ranks, with ransomware-as-a-service (RaaS) now the weapon of choice for cybercriminals. This year four new ransomware gangs, believed to be the next generation of previous big players, topped the list. Newcomer Cl0p takes the prize for this year's nastiest malware after commanding exorbitant ransom demands with its MOVEit campaign. Cl0p's efforts helped skyrocket the average ransom payment which is rapidly approaching three quarters of a million dollars. Black Cat, Akira, Royal, Black Basta also made their debut, joined by the always present, Lockbit. A key finding this year is the RaaS business model is another win for the bad guys. Profit sharing and risk mitigation are top contributors to RaaS success along with the ability to easily evade authorities, said Muhi Majzoub, EVP and Chief Product Officer, OpenText. There is a silver lining as research shows only 29% of businesses pay ransom, an all-time low. These numbers indicate people are taking threats seriously and investing in security to be in a position where they do not need to pay ransom. This year's list highlights the tenacity of cybercriminals as they continue to reinvent themselves, coming back stronger each time (often with new names). Their scrappy mentality allows them to go beyond the norm to find new ways to invade their target. 2023 Nastiest Malware Cl0p, a RaaS platform, became famous following a series of cyberattacks, exploited a zero-day vulnerability in the MOVEit Transfer file software developed by Progress Software. MOVEit victims include such notable organizations as Shell, BBC, and the United States Department of Energy. Black Cat, recognized in our 2021 Nastiest Malware report, believed to be the successor to REvil ransomware group, has built their RaaS platform on the Rust programming language. They made headlines for taking down MGM Casino Resorts. Akira, presumed to be a descendant of Conti, primarily targets small to medium sized businesses due to the ease and turnaround time. Most notably, Akira ransomware targeted Cisco VPN products as an attack vector to breach corporate networks, steal, and eventually encrypt data. Royal, suspected heir to Ryuk, uses Whitehat penetration testing tools to move laterally in an environment to gain control of the entire network. Helping aid in deception is their unique partial encryption approach that allows the threat actor to choose a specific percentage of data in a file to encrypt. Lockbit 3.0, a main stain on the list and last year's winner, continues to wreak havoc. Now in its third epoch, Lockbit 3.0 is more modular and evasive than its predecessors. Black Basta is one of the most active RaaS threat actors and is also considered to be yet another descendant of the Conti ransomware group. They have gained a reputation for targeting all types of industries indiscriminately. To learn more about the findings of this year's Nastiest Malware analysis, visit the OpenText Cybersecurity Community, as well as tune in to our Nastiest Malware Webinar.

Read More

Platform Security

Verizon Holds Cybersecurity Event at NJ Executive Business Center

Verizon | October 13, 2023

Verizon Business has announces hosting a special cybersecurity event on October 18, 2023, marking two decades of cybersecurity consulting services at its New Jersey Executive Business Center. Participants will gain valuable insights into how Verizon is empowering companies to harness the potential of 5G network solutions. Alongside the cybersecurity panel discussion, attendees can expect live demonstrations highlighting Verizon's proficiency in developing exceptionally secure solutions. Verizon Business will host a special media event on October 18, 2023, marking two decades of cybersecurity consulting services and honoring Cybersecurity Awareness Month. The event will feature a panel discussion led by industry experts, including Chris Novak, Managing Director of Verizon Cyber Security Consulting; Sean Atkinson, Chief Information Security Officer at the Center for Internet Security; and Krista Valenzuela, Cyber Threat Outreach and Partnerships at The New Jersey Cybersecurity and Communications Integration Cell (NJCCIC). The panel promises an engaging dialogue encompassing critical themes such as data privacy, AI's influence on cybersecurity, the emergence of voice security, evolving security controls, and other pertinent subjects. Furthermore, the discussion will shed light on the strategies employed by local New Jersey organizations to counteract emerging cyber threats. Attendees will also gain insights into Verizon's role in empowering businesses through innovative 5G network solutions, enhancing security measures, and elevating their overall operations. Managing Director of Verizon Cyber Security Consulting, Chris Novak, said, Raising greater awareness about cybersecurity is the first step in assisting organizations defend against these cyber threats. [Source – Globe Newswire] Novak mentioned that Verizon is utilizing its network's extensive visibility to collect, report, and disseminate actionable insights. These insights can be used by customers and other businesses to tackle advanced cyber threats related to vulnerability exploitation and social engineering. Furthermore, demonstrations highlighting Verizon's proficiency in developing highly secure solutions will be presented in addition to the cybersecurity panel. They include: Coach-to-Coach Communications: Introducing a dependable and secure wireless network solution tailored for NFL coaches, enabling confidential communication on the field. Cashierless Checkout: Utilizing advanced machine learning and computer vision technologies, this innovative solution facilitates autonomous stores at any location. Integrated with 5G UWB and 5G Edge, it redefines the retail experience. Private Wireless Networks: Explore the benefits of premise-based equipment, highlighting the significance of private dedicated networks in enhancing business connectivity and security. Cyber Threat Outreach and Partnerships, NJCCIC, Krista Valenzuela, mentioned, One of the ways we’re harnessing the power of AI in New Jersey is in identifying suspicious and malicious websites to help the State and its critical infrastructure in better defending against these cyber threats. [Source – Globe Newswire]

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Events