The popularity of mobile devices and cloud applications has created unlimited endpoints, leaving data vulnerable to security threats. Cryptographic failures rank no.2 in OWASP's top 10 web application security risks.
This makes effective cryptographic key management crucial to protect data, as a single compromised key could result in a massive data breach. This blog will explain some of the best practices for cryptographic key management.
Let's start by understanding what is encryption key management.
Encryption Key Management Meaning
Encryption transforms data into ciphertext, making it unreadable without the correct decryption key. Even if hackers intercept it, they can't access the information. This provides a layer of security to our data and protects it from hackers, malwares, and viruses.
Now, encryption key management refers to the practices that govern the key management process. It performs all the important key functions, such as
- Key generation
- Pre-activation
- Activation
- Expiration
- Post-activation
- Escrow
- Destruction
By implementing robust key management practices, organizations can reduce the risk of security breaches and unauthorized data access.
Major Key Management Failures Till Date
The real-world victims of key management failures are too many to count, but here are some of the prominent ones among them.
Facebook Data Breach
In 2019, Facebook, the social media giant, faced a serious privacy breach. This time, more than 540 million Facebook users' data was accidentally leaked. The data included users' names, friend lists, photos, location check-ins, and even passwords.
Equifax Hack
This is one of the most notable examples of the largest cybersecurity breaches in history. In 2017, Equifax Inc.'s (Equifax's parent company) personal data of approximately 13.8 million UK consumers was hacked by cybercriminals.
This happened because the company outsourced data to Equifax Inc.'s servers in the US for processing.
Further, it was revealed that Equifax failed to treat its relationship with the parent company as outsourcing, and they didn't oversight if the data it was sending was properly managed and protected.
This incident cost the company $700 million and had a large economic impact.
Target Data Breach
In the Target data breach, hackers stole 40 million credit and debit records and 70 million customer records. However, the company handled the data breach very well; they notified customers within twenty days after the breach occurred, which is comparatively fast.
What was the result of the data breach? It resulted in an $18 million settlement, and the company lost over $200 million. Additionally, when the news of the breach spread, Target's earnings fell 46% following the attack.
The Exactis Debacle
Exactis, a marketing and data aggregation firm, has over 3.5 billion business and consumer records. They suffered a security breach that came to light when security expert Vinny Troia was conducting tests on the security of ElasticSearch.
Using a tool called Shodan, Troia found 7,000 databases that were exposed on public servers. Among them was Exactis' database, which has 340 million records and was shockingly unprotected and easily accessible.
What made this data breach particularly concerning was the depth of information contained within the exposed records. It wasn't just basic details like names and contact information; each record included details about people's habits and preferences, with an average of 400 data points per individual.
RSA SecurID Attack
In March 2011, the hackers executed the RSA SecurID breach attack that compromised SecurID tokens used by millions of organizations worldwide, including defense contractors and the military.
The company offers two-factor authentication solutions to many organizations. So, the cybercriminals exploited vulnerabilities in RSA's systems to compromise the cryptographic keys and steal information that could be used to bypass two-factor authentication protections.
Unfortunately, the breach cost the company $66.3 million to investigate, remediate, and monitor 30,000 customers of its SecurID tokens.
This worrisome cyberattack was a wake-up call for companies to adopt best practices for cryptographic key management to avoid failures.
What Leads to Cryptographic Failures?
Most cryptographic failures happen because organizations don't prioritize handling users' sensitive information carefully. Some of the sites don't even prioritize buying an SSL certificate for HTTPS security.
Are cryptographic failures and data breaches the same? Both of these terms are not the same, but they can be related because the final goal is to hack user data, only the way is different.
A data breach happens when hackers gain unauthorized access to user information. On the other hand, cryptographic failures occur when data is left free on a server or in a database. They occur most often when organizations leave configuration details unsecured online.
Why is Key Management Hard?
Here are some of the biggest key management challenges that many organizations face!
Audit Logging
Key confidentiality, integrity, and availability must be protected. If a key is lost without a backup, the data it is protecting will also become inaccessible or lost. The major problem arises if the key lifecycle is not logged, as it becomes difficult to determine when and how a compromise happens.
Complexity
Key management is a very complex process, especially when it involves dozens or hundreds of applications. The worst part is that entities don't know how to create, store, and access keys securely, which leads to potential security vulnerabilities.
Lack of Automation
Still, today, some companies use manual key management processes, which result in human errors, and the data is left to potential vulnerabilities. That's why it is suggested to use a key management system or solutions that automate the whole key management process and mitigate the risks of security breaches.
Regulation Compliance
This is another significant challenge of key management, i.e., adhering to compliance. Different industries, like health and finance, have strict rules and regulations regarding data privacy and security, such as PCI DSS, HIPAA, and SOX. Companies must adhere to these to avoid potential fines and penalties.
Integration with Existing Systems
The integration of a key management system with existing systems poses a challenge for businesses. This is because they need to ensure that the systems are compatible with each other, so the operations will not get disrupted.
Now that we have understood the major key management challenges, let's examine some of the strategies for overcoming these concerns.
There's a Way
Below are some of the best practices for effective key management to avoid potential failures.
Implement Robust Logging & Auditing
Maintaining a comprehensive logging and auditing trail is vital as it helps you track system activities, such as key generation, usage, and deletion. These logs will surely help if something goes wrong.
Read the full article - https://signmycode.com/blog/best-practices-for-cryptographic-key-management-to-avoid-failures
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