DEV Community: Cyber Sierra

Why Is Multi-Factor Authentication Important?

Cyber Sierra — Tue, 04 Jul 2023 09:55:41 +0000

In today’s rapidly evolving digital landscape, ensuring the security of your accounts and sensitive data is more crucial than ever.

Organizations can no longer rely on traditional security measures alone, as it’s vulnerable to a myriad of cyber threats.

The solution? Multifactor authentication (MFA). It’s the most effective way to stop cybercriminals from accessing your data and systems.

But what exactly is MFA, and why has it become such a crucial element of modern cybersecurity?

In this article, we’ll examine MFA, how it works, and why it’s more secure than traditional login methods.

What is Multifactor Authentication?
Multifactor authentication is a type of authentication that requires users to provide more than one verification factor to access a resource like an application, online portal or an account. This can include a personal identification number (PIN) sent to your phone, a password generated by an app on your mobile device, or a one-time code from an authenticator app.

In short, when two or more forms of authentication are used—such as a password followed by an SMS message—it is called multifactor authentication.

Types of Multifactor Authentication
There are three main types of MFA. Let’s dive into these categories to understand better how MFA works.

Something you know: This is typically a password or a personal identification number (PIN). Creating strong, unique passwords and avoiding using the same password across multiple platforms is essential.
Something you have: Something you have can be physical, like a security token, or digital (such as an OTP sent via text message).
Something you are: This category includes biometric authentication methods, such as fingerprint scanning, facial recognition, or voice recognition. These methods are becoming increasingly popular due to their convenience and increased security.

Why is MFA Important?
MFA is important because relying solely on passwords and security questions to safeguard online accounts is no longer adequate. Cybercriminals can easily exploit weak passwords or trick users into revealing sensitive information through phishing attacks. Moreover, security questions can be compromised by attackers who have access to personal details about you.

Multifactor authentication offers an additional layer of protection, making it significantly harder for unauthorized individuals to breach your accounts.

The primary advantage of implementing MFA, therefore, lies in its ability to fortify an organization’s security posture by surpassing the limitations of traditional username and password combinations. Organizations can further streamline the user experience by offering a range of factors to choose from or by only mandating additional factors when necessary.

MFA is important because it helps organizations:

Prevent social engineering attacks
Strengthen security beyond passwords
Simplify compliance with regulatory requirements
Let’s look at these in detail now.

Prevent social engineering attacks One of the primary reasons MFA has become indispensable is the growing prevalence of social engineering attacks.

90% of cyber attacks involve social engineering tactics, and cybercriminals increasingly rely on tactics such as phishing and impersonation to deceive employees and gain unauthorized access to sensitive data. These attacks often exploit human weaknesses rather than technical vulnerabilities, making them challenging to prevent.

MFA is a powerful deterrent to social engineering attacks by requiring users to provide multiple verification forms before granting access to a system.

Even if an attacker obtains a user’s login credentials through a phishing scam, they would still need to bypass the additional authentication factors, such as a one-time password or biometric data, significantly reducing the likelihood of a successful breach.

Strengthen security beyond passwords Despite the well-known risks associated with weak passwords, many employees continue to use easily guessable or reused passwords across multiple accounts. As a result, 30% of internet users have experienced a data breach.

MFA helps mitigate this risk by adding layers of security beyond the traditional username and password combination.

With additional authentication factors, such as something you have (like a token) or something you are (such as a fingerprint), MFA makes it exponentially harder for attackers to gain unauthorized access.

Simplify compliance with regulatory requirements Organizations operating in regulated industries, such as finance and healthcare often face stringent security requirements to protect sensitive data.

Such organizations can meet these requirements by demonstrating a commitment to robust security practices.

Incorporating multifactor authentication into your cybersecurity strategy will add more resilience to your your business and help mitigate the impact from data breaches, reducing the chances of regulatory fines and damage to reputation.

How Does MFA Work?
MFA works through a multi-layered approach that requires users to provide two or more authentication factors to gain access to their accounts. It requires you to provide multiple pieces of information or use different methods to prove it’s really you. This information is then saved safely in the system for future logins to make sure it’s really you accessing your account.

This is a straightforward yet powerful process to enhance security:

Registration: Users link a personal item, such as a smartphone or key fob, to the MFA system, claiming ownership.
Login: Users enter their username and password into the secure system.
Verification: The MFA system communicates with the registered item, sending verification codes to smartphones or activating key fobs.
Reaction: Users complete the authentication process using the registered item, such as entering the verification code or pressing a button on the key fob.
While some MFA systems require verification for every login attempt, others employ more flexible approaches. For example, a system may remember trusted devices or locations, skipping the verification step for subsequent logins from the same device or location.

However, if a user attempts to log in from a new device or at an unusual time, the system may trigger the MFA process to ensure security.

What Are the Benefits of Multifactor Authentication?
Here are the major benefits of multifactor authentication

Enhanced security through layered protection
Reduced risk of phishing attacks
Improved user experience with adaptive authentication
Streamlined access management with Single Sign-On integration
Thwarted brute force attacks

Now let’s look at them in detail,

Enhanced security through layered protection Multifactor authentication (MFA) significantly improves your organization’s security by adding multiple layers of protection.

Instead of relying solely on a password, multifactor authentication requires additional factors like fingerprints or smartphone apps to verify a user’s identity. This can block over 99.9% of account compromise attacks.

This makes it much more difficult for cybercriminals to access your systems, as they would need to compromise multiple factors to gain unauthorized access.

Reduced risk of phishing attacks MFA reinforces your organization’s defense against potential breaches and unauthorized access by implementing an additional layer of protection.

This security measure mandates users to provide supplementary forms of identification, adding an extra barrier that significantly enhances resilience against various cyber threats.

Improved user experience with adaptive authentication Adaptive authentication is a unique and uncommon benefit of MFA that tailors the authentication process based on the user’s behavior and risk profile.

With adaptive authentication, users are prompted for additional factors only when their behavior deviates from their established patterns.

For instance, if a user tries to log in from a new location or device that hasn’t been used before, adaptive authentication may trigger an additional authentication step to ensure the user’s identity. However, if the user’s behavior aligns with their usual patterns, adaptive authentication may allow them to proceed with a streamlined login process, reducing unnecessary prompts for additional authentication factors.

This increases security and improves the user experience by reducing the number of times users are prompted for additional authentication.

Streamlined access management with Single Sign-On integration MFA can seamlessly integrate with Single Sign-On (SSO) solutions to provide a streamlined and secure user experience. With SSO, employees can access multiple applications and services using a single set of credentials, reducing the need to remember multiple passwords.

Combining SSO with MFA creates a powerful, convenient security solution that simplifies access management while ensuring high protection against unauthorized access. This integration saves time for your employees and reduces the risk of password-related security breaches.

Thwarted brute force attacks Brute force attacks involve repeated login attempts using various password combinations to gain unauthorized access to an account.

MFA effectively deters these attacks by requiring additional verification forms beyond just passwords. The increased difficulty of bypassing MFA means that cybercriminals are more likely to abandon their attempts, leaving your organization’s data secure.

How Does MFA Strengthen Cybersecurity?
Implementing MFA heightens the difficulty for threat actors attempting to gain access to the system. It accomplishes this by requiring the provision of two or more factors to verify a user’s identity and grant them access to an account.

With MFA in place, there is a reliable assurance that only authorized users, who can successfully provide the required factors, are granted access.

MFA also offers a unique advantage: contextual awareness.

This means that MFA systems can analyze and adapt to user behavior, location, and device, making it more difficult for cybercriminals to bypass security measures. By leveraging contextual awareness, MFA can provide an additional layer of protection that traditional security measures may not offer.

For example, consider a scenario where an employee logs in to a secure system using their username and password. If a cybercriminal were to obtain this information, they could easily access the system.

However, with MFA in place, the system would require the user to provide an additional form of identification, such as a fingerprint, a one-time passcode sent to their mobile device, or even a physical security token. This added layer of security makes it significantly more challenging for cybercriminals to gain unauthorized access.

According to Google, MFA can also block around 99.9% of automated bot attacks. Bots cannot intercept the codes generated by MFA, and humans trying to bypass prompts will fail unless they use highly sophisticated methods to do so—or try a brute-force attack (attempting every possible combination). With two-factor authentication, a stolen password or PIN cannot be used to gain access.

How to Choose an MFA Solution?
Here are the six main tips for choosing the right MFA solution for your organization:

User-friendly authentication methods
Streamlined onboarding process
Ease of integration
Robust reporting and analytics
Scalability and flexibility
Strong customer support

Let’s explore them one by one.

User-friendly authentication methods Offering a variety of user-friendly authentication methods is vital for accommodating different user preferences and situations.

Some employees may prefer using biometric authentication, such as fingerprint or facial recognition, while others might opt for a hardware token or SMS-based authentication. Offering various options enables you to accommodate your employees’ diverse preferences and needs.

Streamlined onboarding process Deploying MFA will be a major step forward in protecting your organization against account takeover and data loss—but it’s crucial that the solution you choose can be easily deployed across all of your corporate applications.

MFA deployment can be complex, with time-consuming configurations needed to onboard users across your different applications. Even worse, things may go wrong with the wrong solution. That’s why we recommend only MFA solutions that offer a streamlined onboarding process.

When evaluating MFA solutions, look for those with clear instructions, simple layouts, and minimal steps required for initial setup and configuration. This reduces the learning curve and ensures that users can quickly and efficiently complete the authentication process.

Ease of integration Another critical factor in choosing an MFA solution is the ease of integration. Look for a solution that offers straightforward setup and configuration processes and clear documentation and support resources.

The easier it is to integrate the MFA solution with your existing systems, the faster your organization can enjoy the enhanced security benefits. Also, ensure that the MFA solution you’re considering is compatible with your organization’s existing systems and applications.

This includes your operating systems, email clients, VPNs, and other critical infrastructure components. Compatibility with your current systems is vital to minimizing disruptions during implementation and ensuring a smooth transition for your employees.

Robust reporting and analytics Having access to detailed reporting and analytics is crucial for monitoring the effectiveness of your MFA solution and identifying potential security risks. The admin console should provide straightforward access to reports.

While evaluating a solution, pay attention to the comprehensiveness of the information displayed and the simplicity of generating, scheduling, and retrieving reports. Reports need to be conveniently located and exportable, enabling you to access all necessary data promptly.

While you may need to create reports tailored to your organization’s requirements, it is advisable to choose a solution that offers fundamental features such as comprehensive summaries of user deployment, lockouts due to failed login attempts, security incidents, and in-depth authentication logs

Choose an MFA solution that offers comprehensive reporting and analytics tools, including real-time visibility into authentication events, user behavior, and potential threats.

These insights can help you make informed decisions about your organization’s security posture and identify areas where additional training or support may be needed.

Scalability and flexibility As your organization grows and evolves, your MFA solution should be able to adapt and scale accordingly. Choose an MFA solution that can easily accommodate an increasing number of users, devices, and applications without compromising security or performance.

In addition, look for a solution that offers flexibility in terms of customization and configuration. This allows you to tailor the MFA solution to your organization’s unique needs and requirements, ensuring the best possible user experience and security outcomes.

Strong customer support Lastly, consider the level of customer support offered by the MFA solution provider. Implementing and managing an MFA solution can be challenging, and having access to knowledgeable and responsive support resources can make all the difference.

When evaluating MFA solutions, look for providers that offer multiple support channels, such as phone, email, and live chat, as well as extensive knowledge bases and self-help resources. This ensures that you have access to the assistance you need when you need it.

Wrapping Up
In conclusion, Multifactor Authentication (MFA) is crucial to any organization’s cybersecurity strategy. Due to the extra level of security, MFA can help you avoid phishing attacks. It also makes compliance with regulatory requirements easier.

Although MFA is a relatively simple solution, implementing it properly takes time. This is why choosing a provider that offers cost-effective, efficient, and easy-to-use solutions is important. This way, you can focus on other important aspects of your business while ensuring your users are protected.

Cyber Sierra’s employee security training program focuses on many such relevant and critical security measures that individuals can implement to protect themselves from data breaches and security incidents.

Book a demo with us to know how you can implement a comprehensive employee security training program with us.

Frequently Asked Questions
1. What are the three types of authentication factors?
The three types of authentication factors are: something you know (such as a password or PIN), something you have (such as a token or bank card), and something you are (such as biometrics like fingerprints or voice recognition). These three types of factors provide different layers of verification, ensuring a more robust and secure authentication process.

2. Is multi-factor authentication the same as OTP?
No, MFA isn’t the same as OTP even though OTP (One-Time Password) is a form of multi-factor authentication (MFA). MFA is a broader concept that encompasses various methods of requiring additional credentials for authentication beyond just a password. It involves the use of multiple factors, such as something the user knows, something they have, or something they are, to verify their identity.

3. How safe is multi-factor authentication?
Multi-factor authentication significantly enhances the security of user accounts and makes it substantially more difficult for malicious actors to compromise them. The primary reason for this increased safety is the additional layer of protection MFA provides, even if one factor, such as a password, is compromised.

Comply With Australian CIRMP Rules

Cyber Sierra — Mon, 05 Jun 2023 04:32:42 +0000

If you’re an Australian organization handling critical infrastructure assets, you have less than three months to be CIRMP (Critical Infrastructure Risk Management Program) compliant! All responsible entities must implement a risk management program as per CIRMP rules by 17 August 2023.

Here’s a quick lowdown on the CIRMP rules. Read on to know if you need to comply, and, if yes, what should you implement before the deadline to meet the core CIRMP requirements.

For the uninitiated, on 17 February 2023, the Australian Government introduced the CIRMP rule. Governed by the Security of Critical Infrastructure Act 2018 (SOCI Act), this is the latest rule introduced by the Australian government to safeguard the country against global cyber threats and uplift the core security practices of critical infrastructure (CI) assets.

Why is the CIRMP Rule Important?

The CIRMP rule is important because it helps Australia’s critical infrastructure entities uplift their core security practices that relate to managing their critical infrastructure assets. It does so helping create a robust and proactive risk management program for organizations.

Market disruptions have increased the adoption of digital transformation among many businesses. While technologies such as automation, data processing, cloud, and AI improve productivity, security threats are also growing in intensity and complexity.

So, when your CI asset is disrupted by security threats, it can affect your business, the government, and the community. All of this can even damage the country’s economic growth.

Therefore, the only goal of CIRMP is to help Australian entities such as yours create a solid security program that will uplift the core security practices of your CI assets. When you have a strong security program as per the CIRMP rules, it’ll help you to,

Safely provide services that the economy and community rely on
Quickly bounce back from incidents that affect your critical assets
Uphold your brand’s public perception and financial stability
To fully understand how the CIRMP rule came into place, you must know what the SOCI (Security of Critical Infrastructure) 2018 Act is about.

Quick Rewind on the SOCI Act

The SOCI Act was amended in 2018 to improve the resilience of CI assets against security threats through carefully laid regulatory reforms and amendments. It was passed in two phases,

The first phase in December 2021 – Security Legislation Amendment (Critical Infrastructure) Act
The second phase in April 2022 – Security Legislation Amendment (Critical Infrastructure Protection) Act

Together these two amendments form a framework with the following features:

Government Direction and Intervention (in effect since Dec 2021)

Positive Security Obligations – What Responsible Entities Need to Do to Ensure Compliance?

Who must comply with the CIRMP Rules?

The CIRMP rules apply to all Australian entities that own and manage critical infrastructure assets. The Australian government has outlined 11 critical infrastructure sectors and 22 categories of CI assets that must comply with CIRMP, including entities that manage CI assets. This includes critical financial services assets, critical energy assets, and others.

For detailed definitions of asset rules, click here.

How to comply with Australia’s CIRMP Rules?
Organizations can comply with Australia’s CIRMP rules by following these four steps:

**Step 1 – Describe CIRMP requirements based on your CI assets

Step 2 – Define the four key hazard vectors of your CI assets

Step 3 – Submit annual reports to the Commonwealth regulator

Step 4 – Maintain, review, and update CIRMP**

Organizations must develop, maintain and update their CIRMP. Here’s a detailed overview of how you can achieve each of these steps.

*Step 1: Describe the CIRMP requirements *

Here’s a basic list of what you need to complete to develop your CIRMP.

Identify and document hazards, such as cyber & information security, personnel, supply chain, and physical security & natural hazards, that pose material risks to your CI assets. Next, determine the impact on the availability, dependability, and integrity of CI assets. Finally, develop strategies to minimize risks.
Determine interdependency between the CI assets so mitigating circumstances can be broadened.
Choose who will be responsible for creating, executing, reviewing, and updating your CIRMP
Decide how CIRMP will be created, enforced, inspected, and updated.
Outline the risk management frameworks and methodologies used.

Before you proceed further, here’s a quick look at the hazards that must be covered.

Step 2 – Define the four key hazard vectors of your CI assets

Here’s how you can identify hazards that pose material risks to your CI assets and mitigate their impact.

Cyber & information security hazards
This comprises risks to your digital systems, computers, datasets, and networks that can affect the working of your CI assets. You need to state the cyber and information security hazards that could impact your CI assets.

Some of the biggest cyber threats include,

Phishing
Malware
Ransomware
Credential harvesting
Denial-of-service (DoS)

How to address them?
To minimize and eliminate these risks, as a responsible entity you must,

Introduce risk management practices – Scan assets, catch vulnerabilities, access impacts, and employ relevant measures to monitor and fix the risks
Add security measures across every product used in your business **– Run scans, address vulnerabilities before deployment, and add security to every product development
**Invest in employee education – Run awareness & training programs related to cyber security risks, conduct counter-phishing campaigns, and help employees detect phishing emails
Get insurance – Consider investing in the right insurance plan to protect your business and bypass expensive security breaches
Third-Party Risk Management – Mitigate the risks by vendors (suppliers, third parties, or business partners) before and during your partnership by implementing appropriate Third-party risk management (TPRM) practices

Here are some of the cyber frameworks you can consider implementing. Make sure to follow one that is appropriate for your CI assets. Note that there are no restrictions related to frameworks; if these aren’t suitable, you can choose a different one.

Australian Standard AS ISO.IEC 27001:2015
Essential Eight Maturity Model by the Australian Signals Directorate – Level 1 maturity is required (click here to learn more about the levels)
Framework for Improving Critical Infrastructure Cybersecurity by the US National Institute of Standards and Technology
Cybersecurity Capability Maturity Model by US Department of Energy – Level 1 maturity is required
The 2020-21 AESCSF Framework Core published by Australian Energy Market – Level 1 maturity is required

Personnel hazards
Personnel hazards cover workers and contractors who access sensitive information about your CI assets. You must, therefore, define activities such as proper onboarding, offboarding, background checks, and setting access controls for personnel.

How to address them?

Identify critical workers who access, control, and manage critical assets. And closely monitor them
Set authorized access controls for both physical and digital assets
Use services such as AusCheck or others to do a proper background check of critical workers
Conduct regular cyber security training for critical workers

Supply chain hazards
Unauthorized access to the supply chain, upsetting the supply chain assets, and vendor risks are some of the hazards you must consider here.

You can consider measures to establish and maintain a system that prevents unauthorized access to the supply chain, misuse of given access, upsetting the supply chain assets, and bypassing threats in the supply chain caused by products, services, and personnel.

How to address them?

Identify your supply chain process. List down who your vendors are, the countries they are from, and who the owners of your vendors are, and outline any third-party dependencies
Include proper cyber security in all of your supply chain agreements
Identify supply chain bottlenecks to diversify vendors
Implement physical security & make allowance for natural hazards

Physical and natural hazards
You must also address illegal physical access and natural hazards to critical components. So, don’t forget to make a note of the risks of such occurrences alongside the steps to mitigate their impact.

How to address them?

Identify the critical physical components and their security hazards. Outline all the natural hazards, such as earthquakes, tsunamis, and pandemics, that could affect your critical assets. This must also include biological hazards.
Secure control systems through onsite measures and access controls with the use of HVAC, cameras, and fire alarm panels
Create security drills to build infrastructure resilience
Develop and maintain a bushfire survival plan
Enforce physical access controls such as biometrics
Install CCTV sensors to help your security staff better monitor things

Step 3 – Submit annual reports to the Commonwealth regulator

You need to submit your annual CIRMP reports to the applicable Commonwealth regulator by the end of the Australian financial year (28th September). This way, the Cyber Infrastructure Security Centre (CISC) and other related regulators can check if the program remains up-to-date. Besides, these entities can further advise you on the measures to strengthen the security of your CI assets.

Step 4 – Maintain, review, and update CIRMP

The SOCI also requires organizations to maintain the CIRMP status. You can accomplish by:

- Comply – Comply with the CIRMP rules
- Review – Maintain a process to review CIRMP every 12 months
- Update – Ensure the program is up to date

How to Strengthen Your Compliance & Security Requirements As Per CIRMP Rules?

Compliance with CIRMP rules is not merely a matter of checking boxes; it is an ongoing process that requires organizations to fully implement and abide by the law’s principles. The CIRMP rules demand a comprehensive approach, with a particular emphasis on fortifying the cybersecurity of critical infrastructure.

This endeavour necessitates the collective effort of the entire vendor ecosystem, urging them to address any shortcomings and improve their practices.

Cyber Sierra’s ThirdParty Risk Management module is custom-built to help organizations up their security game in accordance with the CIRMP rules. The automation platform is equipped to assist you in various areas, including developing new risk management practices, implementing appropriate security measures for your assets, educating your employees about cyber risks, adhering to sound TPRM practices, and making informed cyber insurance investments.

Our specialized continuous controls monitoring is designed to ensure you maintain complete control and serves as effective “reasonable security measures” in the event of a breach, preventing hefty penalties. Moreover, continuous control monitoring surpasses the limited sample-based testing of controls provided by audit firms; it is comprehensive, ongoing, and supported by data.

Schedule a free demo with our cybersecurity experts to learn how to enhance your risk management program in accordance with the Australian CIRMP rules.

FAQs
Which are the sectors that come under Australia’s CIRMP obligation?

The following sectors are subject to the Australian CIRMP obligations:

Energy
Water and Sewerage
Data Storage
Financial Services
Transportation
Food and Grocery
Healthcare and Medical
Communications

What does the CIRMP require of organizations?

The CIRMP requires organizations to address four main areas: cyber and information security hazards, personnel hazards, supply chain hazards, and physical security and natural hazards.

In each of these areas, organizations must identify risks that could affect their assets, minimize or eliminate those risks, and mitigate the impact of any hazards on their assets. Specifically, in the cyber and information security domain, organizations need to comply with established cybersecurity standards and frameworks.

Australian Standard AS ISO.IEC 27001:2015
Essential Eight Maturity Model by the Australian Signals Directorate – Level 1 maturity is required (click here to learn more about the levels)
Framework for Improving Critical Infrastructure Cybersecurity by the US National Institute of Standards and Technology
Cybersecurity Capability Maturity Model by US Department of Energy – Level 1 maturity is required
The 2020-21 AESCSF Framework Core published by Australian Energy Market – Level 1 maturity is required
A framework equivalent to any of the above
The deadline for implementing a CIRMP and complying with the controls is August 17, 2023, with full compliance required by August 17, 2024.

What is the penalty for failing to comply with CIRMP?

If a company doesn’t have or follow a CIRMP, it can be fined 1,000 penalty units or $275,000 per day. This applies to not meeting the obligations of the CIRMP, except for the annual reporting requirement, which carries a fine of 750 penalty units or $206,250 per day if not met. These penalties also apply if a company fails to fully implement their CIRMP.

Cyber Sierra’s continuous control monitoring offers ‘reasonable security measures’ in the event of a breach, preventing companies from paying hefty penalties for noncompliance.

Disclaimer – Detailed regarding the rules mentioned in this blog were sourced from CIRMP rules and SOCI act shared by the Australian Government. The contents of this blog are not a substitute for legal advice. You must always get professional advice or help for matters your organization may have.

Creating a Culture of Security in Your Organization: From Awareness to Action

Cyber Sierra — Fri, 24 Mar 2023 03:42:38 +0000

We live in an era where cyber-attacks are on the rise. As a business owner, you need to know that your company’s data is not only valuable to you—it’s also valuable to your customers. You must do everything possible to protect it and make sure it stays safe!

That’s why building a security-first culture is so important: it protects not only your company’s reputation but also its bottom line.

In this blog post, we’ll explore six answers to the question, “Can you share your most impactful reasoning for why building a security-first culture is a smart business move in today’s landscape?” From protecting a company’s valuable assets and reputation to securing customer trust and improving productivity, we’ll examine the various benefits of prioritizing security in your business.

The Growing Threat of AI-Driven Cyber Attacks

In the rapidly evolving digital age, businesses face a growing threat from AI-driven cyber attacks. As a result, building a security-first culture and investing heavily in digital security training for your workforce has become essential.

“You cannot simply assume that employees understand issues related to cyber attacks, phishing, and the growing threat of AI-related fraud. You need to ensure training is in place to show your teams what to be looking for in relation to potential threats.”

Tracey Beveridge, HR Director, Personnel Checks

Increasing Frequency of Cyber Attacks

As more and more businesses and individuals rely on technology for daily operations, cybercriminals have become increasingly sophisticated and aggressive in their attempts to access valuable data and assets. According to a report by IBM, the average cost of a data breach in 2022 was $9.44 million, a significant increase from previous years, including not only direct expenses but also the loss of trust and reputation that can have long-term consequences.

“Building a security-first culture is a smart business move in today’s landscape due to the increasing frequency and severity of cyberattacks. To combat these risks, businesses should invest in cybersecurity training and education for employees, implement robust security protocols and technologies, and conduct regular security assessments to identify and address vulnerabilities.”

Jeremy Reis, Founder, Million Tips

Protecting a Company’s Valuable Assets and Reputation

Building a security-first culture not only reduces the risk of security incidents but also increases customer trust and confidence. Customers seek out companies that prioritize their security and privacy, and a security-first culture demonstrates a commitment to these values.

“A security-first culture ensures that security is not an afterthought but an integral part of every aspect of a business’s operations. It encourages employees to be vigilant and proactive in identifying and reporting security incidents, fostering a mindset of continuous improvement to stay ahead of evolving threats.”

Anirban Saha, Founder and Editor, TechBullish

Securing Customer Trust

In today’s digital landscape, customers are increasingly concerned about the security of their personal data. High-profile data breaches have made headlines in recent years, and consumers are more aware than ever of the risks of sharing their personal information online.

“A security-first culture sends a clear message to customers that a company prioritizes their security. By implementing robust security measures and educating employees on best practices, companies can demonstrate their commitment to safeguarding customers’ personal information. This may involve implementing strong encryption protocols, regularly testing and updating security systems, and conducting routine security audits.

In addition to technical security measures, companies can also prioritize communication and transparency to build customer trust. By being upfront and transparent about their security practices, companies can help customers understand the steps they are taking to protect their data.”

Shawnee Wright, Business Development Manager, Integrated Axis Technology Group, Inc.

Remembering Data is Power

With the increasing interconnectivity and automation in today’s tech-savvy world, the risk of cyber-attacks and data leaks is rapidly growing. Thus, establishing a security-first culture is imperative for every employee.

“Companies utilizing cloud services and third-party integrations are particularly susceptible to these threats, which can disrupt their operations, damage customer trust, and harm their reputation, ultimately impacting their profits.”

Marco Genaro Palma, Co-Founder, TechNews180

Improving Productivity and Reducing Downtime

A security-first culture is crucial for business continuity in today’s landscape, as cyberattacks can result in severe consequences, such as loss of intellectual property, legal liabilities, damage to reputation, and financial ruin.

“Prioritizing cybersecurity enables businesses to protect their assets, maintain customer trust, and ensure continual operation. Robust security measures can also improve productivity and reduce downtime, leading to cost savings. Building a security-first culture not only shields businesses from cyber threats but also demonstrates a commitment to responsible and ethical business practices.”

Basana Saha, Founder and Editor, KidsCareIdeas

Data Breaches and Healthcare: Is India Lacking in Healthcare Data Security?

Cyber Sierra — Thu, 09 Mar 2023 11:42:21 +0000

As healthcare facilities transition to digital medical records, data breaches and cyberattacks are becoming more common here as well. With the progress of digitalization, the healthcare industry is relying more on electronic storage and transmission of sensitive patient data.

Patients’ medical data, personal information, and financial information are increasingly stored in digital formats. However, as digital storage grows, so does the possibility of data breaches. The healthcare industry is now facing a persistent type of threat – cybersecurity attacks. These attacks can cause significant damage to patients and the healthcare system.

Recently, India has witnessed a rise in healthcare data breaches, making it vulnerable to cyberattacks. For example, there were 1.9 million cyberattacks this year until November 28, 2022. The question that arises here is – Is India falling behind in healthcare data security? In this article, we will explore the issue of healthcare data security in India.

The current scenario in India is concerning since there are no strict rules or laws in place to protect healthcare data. The government has yet to develop explicit norms for healthcare data security, placing the responsibility on healthcare providers. However, many of them lack the resources, expertise, and understanding needed to adopt effective security measures. This creates a ticking time bomb.

Why should healthcare organizations invest in healthcare data protection?

Currently, the penalty for noncompliance is not stringent, so why should healthcare organizations invest in data protection? The answer is simple: it’s the right thing to do. Healthcare organizations have a responsibility to protect their patients’ sensitive data.

Patients trust healthcare organizations with their sensitive information, and it’s essential to honor that trust. Investing in data protection measures helps healthcare organizations build trust with their patients. This trust is essential for maintaining a good reputation.

Incentives for healthcare organizations to invest in data protection include avoiding reputational damage and potential costs. These costs could be associated with a data breach. Healthcare organizations that suffer a data breach can face significant financial and legal consequences, as well as damage to their reputation. By investing in data protection measures, healthcare organizations can mitigate these risks and protect their patients’ sensitive data.

Are there any regulatory frameworks in place in India to address healthcare data security concerns?

While there are some guidelines in place to address healthcare data security concerns in India, such as

The Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules 2011: Only Indian businesses and individuals are subject to the regulations of the Information Technology Rules 2011.These regulations are regarding Reasonable Security Practices and Procedures and Sensitive Personal Data or Information. Healthcare organizations that deal with patient data must follow these standards, which include safeguards for data protection and cybersecurity.
The National Health Stack (NHS): The National Health Stack (NHS) aims to make comprehensive healthcare data collecting as easy as possible. This will assist policymakers in experimenting with policies. It can also help detect health insurance fraud, measure outcomes, and progress toward smart policy-making through data analysis.The NHS has a data privacy and security framework. This framework outlines the rules and practices that healthcare organizations must follow in order to protect patient data.
HIPAA (Health Insurance Portability and Accountability Act): HIPAA is a US regulation. Many Indian healthcare institutions that interact with patients from the US or healthcare professionals are required to follow its regulations. HIPAA has various regulations concerning data privacy and security, including standards for data encryption, access limits, and breach notifications.
The Cybersecurity Policy of India, 2013: The Indian Cybersecurity Policy outlines best practices and guidelines for enterprises in many industries, including healthcare, to secure their information systems from cyber threats. Healthcare organizations must follow the policy’s rules for risk management, incident response, and security audits.
The Personal Data Protection Bill, 2019: Although the Personal Data Protection Law of 2019 has not yet been enacted into law, it is intended to impose rigorous data protection and cybersecurity standards on enterprises that collect, store, and handle personal data, including health information. Healthcare institutions must follow its rules to safeguard the privacy and security of their patients’ data.

How can Cyber Sierra help?
At Cyber Sierra, we understand the importance of healthcare data security in India. We’re equipped to help Indian healthcare companies implement data protection measures and comply with Indian regulations. Our services include technical safeguards as well as administrative safeguards like employee training and incident response plans. With Cyber Sierra’s help, Indian healthcare companies can protect their patients’ sensitive data and build trust with their patients.

In summary, the lack of data security in India’s healthcare industry is a pressing concern that demands immediate attention. The government needs to take decisive steps to implement stringent rules and regulations to safeguard patient data. Healthcare providers, too, must shoulder their responsibility and allocate resources to ensure data protection.

With the healthcare sector expanding rapidly, prioritizing data security has become more critical than ever before. It is time for all stakeholders to come together and address this issue conclusively before painful consequences develop for patients and the healthcare system.

Experts Weigh In: How Top Organizations Are Tackling Third-party Risk Management in the Digital Age

Cyber Sierra — Wed, 01 Mar 2023 05:13:15 +0000

In the digital age, third-party risk management has become a critical concern for organizations. Top companies are taking proactive measures to protect themselves from potential cyber attacks and data breaches caused by their vendors and partners.

To tackle this issue, they are adopting several best practices, including getting cyber insurance to mitigate financial losses, ensuring compliance certifications of their third-party vendors, vendor due diligence, and periodic risk assessments to strengthen their security posture. These measures help organizations to minimize their exposure to cyber threats and ensure the integrity and confidentiality of their data.

We asked business heads how they tackle third-party risk management when they work with vendors, and here are the top three answers!

Get Cyber Insurance
ISO 27001, SOC 2, and PCI DSS
Implementation of Two-factor Authentication Policies

Read on to know more on why they believe these to be an effective way to tackle third-party risks.

Get Cyber Insurance

“When you work with third-party vendors, it’s essential that they have a solid cybersecurity program in place. Cybercriminals often target third-party vendors because they don’t have the same level of security as the company they work for. A good indicator of whether a vendor has adequate cybersecurity is whether they have signed up for a cyber insurance policy. This shows that they have taken steps to protect themselves from any financial fallout from a data breach.”

Matthew Ramirez, CEO, Rephrasely

Look for Compliance Certifications

When working with vendors, one critical cybersecurity marker to look for is their compliance with industry-standard security frameworks and certifications, such as ISO 27001, SOC 2, and PCI DSS. These frameworks provide a comprehensive set of security controls and best practices that vendors can deploy to ensure the security and privacy of their systems and data.

By assessing vendors against these security frameworks, businesses can gain assurance that the vendor has implemented appropriate security controls and processes to protect against cybersecurity risks. Additionally, compliance with these frameworks can be used to establish security and privacy requirements in contracts and service-level agreements (SLAs). It is important to note that compliance with security frameworks does not guarantee complete security; it demonstrates that the vendor has taken steps to protect their systems and data.

Brad Cummins, Founder, Insurance Geek

Implementation of Two-factor Authentication Policies

Two-factor authentication (2FA) adds extra layers of complexity and security to the login process by going a step beyond simply entering usernames and passwords. Rather, two-factor identification requires an additional PIN code, token, or fingerprint to verify our identity.

This process makes life harder for hackers, essentially preventing situations where passwords may be stolen or guessed. It significantly reduces the chances of someone outside our organization gaining unauthorized access.

Jose Gomez, CTO and Founder, Evinex

GRC in Cyber Security: 5 Reasons to Consolidate Cyber Security, Governance, Risk, Compliance, and Insurance

Cyber Sierra — Thu, 23 Feb 2023 12:33:27 +0000

Cybersecurity is an indispensable requirement for businesses today. With the uptick of cybercrimes due to the pandemic, there is an apparent need to secure computer networks and data from hackers. Unfortunately, it has even been predicted that global cybercrime damages will amount to $10.5 trillion annually by 2025.
Given the plethora of threats and attacks, it stands to reason that the GRC framework in cyber security is needed now more than ever.

What is GRC in Cybersecurity?

CIO explains that the GRC in cybersecurity is a strategy for managing an organization’s overall governance, enterprise risk management, and compliance with regulatory requirements. It aligns information technology (IT) with business goals to effectively manage cyber risk.

Breaking it down further:

Governance: This relates to the organizational plan for cyber and information security.
Risk management: Any gaps, vulnerabilities, and security risks will be identified and strengthened through a comprehensive IT risk management process.
Compliance: Following the industry’s cybersecurity rules and requirements, such as the NIST Framework or ISO 27001.

To ensure the implementation of the GRC, organizations utilize some form of cyber insurance. Cyber insurance offers a safety net for businesses against cybercrimes. Likewise, it ensures data security and cybersecurity compliance, by requiring these to be in place.

Unfortunately, there is a problem.

Since managing cybersecurity is getting more difficult because of reasons such as the digitalization of businesses and the increasing number of Internet of Things (IoT) devices being connected to the business’ network, around 47% of enterprise organizations use 11 or more cybersecurity technology vendors and 25 or more different cybersecurity products.
This unbundled governance, security, compliance, and insurance offerings from different vendors make people and organizations waste time and energy weathering problems like interoperability issues and high costs.
As such, it would be better to take a consolidated approach to cybersecurity by limiting the number of cybersecurity vendors an organization does business with.

5 Reasons to Take a Consolidated Approach to Your Security:

Consolidating your approach to security would not only limit cybersecurity problems but also ensure that your GRC framework is implemented and you are insured. Thus, here are 5 reasons to take a consolidated approach.

1. Ease of Use

Choosing certain vendors that would provide the best possible security to your business will increase its ease of use as [interoperability issues (https://www.csis.org/analysis/cybersecurity-and-problem-interoperability) are curbed. In addition, having fewer vendors/products can simplify the end-user experience. As such, buying from vendors like Cyber Sierra would be beneficial as they have a solution for interoperability issues. Thus, simplifying the end-user experience.

2. Threat Detection Will Be Much More Efficient

An IBM study found that companies that utilize more than 50 cybersecurity tools scored 8% lower in their ability to mitigate threats and 7% lower in their defensive capabilities. As such, by consolidating your approach to security, reporting security incidents would be streamlined, and threat detection would be much more efficient. In addition, you would increase your organization’s overall security as you limit the chances of exploitable vulnerabilities.

3. Faster Response to Threats and Attacks
In a 2018 study, an average enterprise handles at least 174,000 weekly threat alerts. Unfortunately, they can only respond to 12,000, rendering at least 90% to be left uninvestigated. This can cause serious harm to the organization. As such, organizations can better respond to risks, threats, and attacks by limiting and choosing security vendors that encompass a broad range of tools.

4. Lower the Cost of Security
Paying for too many security vendors can accumulate and raise the cost of security. Unfortunately, it fails to provide businesses with the best protection against attacks. IBM reported that data breaches on businesses could amount to $3.92 million per attack. As such, having your cybersecurity streamlined and integrated can lower the products' costs and mitigate breaches/attacks.

5. Tighter Protection
Overall, through a consolidated approach, you can be assured that your system and data privacy are protected as vulnerabilities are exposed, threats are contained, and attacks are dealt with. Fortunately, vendors like Cyber Sierra champion a consolidated approach to security. As such, you will receive optimal protection to safeguard your business from costly breaches.

Final Thoughts
Given the volatility of the threat landscape, organizations must maintain a high level of cyber resilience. Through GRC in cybersecurity, organizations can ensure that their data and systems are secure from threats and attacks. That said, given the state of how companies tackle their cyber security, it poses some problems. As such, it is key to take an integrated approach to security to maximize its protection.

This is where Cyber Sierra comes in. With its consolidated approach to cybersecurity, GRC in cybersecurity is assured. Given that Cyber Sierra tailors its products to suit your organization’s needs, you can be assured that all compliance regulations will be met, employees will be trained, risks will be mitigated, and data will be protected. Essentially, with Cyber Sierra, all your key security needs will be looked out for.

5 Best Phishing Protection Solutions

Cyber Sierra — Wed, 15 Feb 2023 06:45:39 +0000

Security breaches are executed through multiple tactics, but 90% of the time, they come in the form of phishing attacks.

The most common manoeuvre of phishing cybercriminals is to use famous brands and logos and pretend to be high-ranking individuals of an organization to dupe victims into opening malicious emails and links.

Thus, phishing, pronounced like fishing, is an online attack that deceives victims into sharing confidential information or sending money.

To protect your business from phishing attacks, read this article and learn about what your business can do for the best phishing protection.

Phishing Scams in Recent History

Though there has been a growing awareness of phishing threats, many companies are still getting duped into these scams.

In 2014, the Swedish Bank lost almost $1 million to digital fraudsters when bank customers opened phishing emails with Trojan malware (masquerading as anti-spam software).

That same year, Sony executives were lured into sending over sensitive data thinking that the phishing email came from Apple.

Below are just some of the largest phishing scams in history.

Common Phishing Attacks

Phishing threats have evolved, and cybercriminals have become more sophisticated.

However, regardless of the type of phishing scam, the common denominator remains: pretend to be someone else to steal things of value.

1. Smishing and vishing
SMS phishing (smishing) and voice call phishing (vishing) utilize phones to execute the attack. An example is a message, purportedly from a bank, saying that the victim's account has been compromised. The letter then instructs the victim to send over the bank account number and password. Sharing these confidential details allows the attacker to control the victim's bank account.

2. Spear phishing
In some instances, phishing attackers target a specific individual in a company because of his position---a strategy known as spear phishing.
Check the example below. Examine how the phishing attack is mainly directed to a member of the HR department and how the business email compromise (BEC) seems to be knowledgeable of the industry where the victim works. Unaware employees can get easily duped by this type of email.

3. Whaling
Cybercriminals often want the biggest catch---the whale. Whaling is more targeted as it attempts to dupe senior executives, such as CEOs and CFOs.

Phishing Protection: Company's Actions

Phishing attacks constantly threaten the survival of companies. Therefore, companies must invest in the form of phishing protection.

Awareness Training and Simulations

Because employees are often the unfortunate targets of phishing, they should learn how phishing attempts are executed by knowing the basics of phishing detection.

For example, Cyber Sierra offers employee awareness training with simulation exercises that help employees distinguish suspected phishing emails and messages and how to react to these threats accordingly.

Through training, employees learn how to recognize malicious links and attachments easily.

Anti-Phishing Software

However, phishing detection should be independent of employees.

Companies must invest in anti-phishing software that could examine emails and websites that go through the company's system. Through this, employees can be warned before opening any email or URLs. Some highly-advanced anti-phishing software can prevent a phishing email from entering the company's inbox.

5 Best Phishing Protection Solutions: How to Protect Yourself Against Phishing Attacks

Cybercriminals have become more competent, and an email's security tools are only sometimes dependable in filtering suspicious messages.

Thus, it is always essential to add extra layers of protection through targeted anti-phishing solutions.

Know how to spot a phishing attack.

Prevention remains the best medicine, and the same rule applies in cyberspace.

Cyber Sierra advises that employees know how to spot a phishing attempt to evade the company's potential financial and data loss.

According to a 2021 report, phishing attacks tend to have high success rates when targets have low awareness about common cyber threats and anti-phishing protection solutions.

Make sure that your computer's security software is updated.

Up-to-date security software ensures essential components are present to protect the computer and system from phishing-related threats like malware.

Use multi-factor authentication.

Cyber Sierra recommends multi-factor authentication---the process of undergoing two methods to validate the identity of a user. Phishing attackers will usually subvert and compromise an account to steal information.

Thus, multiple ways to authenticate the user reduce potential unauthorized access.

Think before you click, especially about clicking on pop-up ads.

When browsing, pop-up ads are common occurrences targeted for advertising. However, cybercriminals may use legitimate websites and insert malware into pop-up ads.

Often the pop-up message warns the user of a system problem and presents a downloadable tool to repair it. Downloading the app gives cybercriminals access to your computer.

Notify the IT department immediately if you suspect a phishing attack.

If a suspected phishing attempt is detected, Cyber Sierra strongly suggests notifying one's IT department as soon as possible to prevent further compromising of the computer.

IT professionals can conduct an analysis of the extent of the attack and can present advice on how similar phishing incidents can be prevented in the future.

Next Steps

No business is safe from phishing scams.

Nevertheless, consistent monitoring and acting quickly can stop phishing attempts even before they occur.

To help you achieve assured protection, we at Cyber Sierra offer the best anti-phishing tools, software, and other threat protection solutions. We are an emerging tech company based in Singapore that provides cybersecurity tools and cyber insurance. We have an extensive range of products for attaining security compliance and solutions. Check our current plans to know which service is customized to your company's needs.

What Makes a Good Cyber Security Posture Management Vendor?

Cyber Sierra — Tue, 07 Feb 2023 07:46:06 +0000

Cybersecurity posture management is a facet of information technology that protects sensitive information against cyber criminals. This may include safeguarding an organization’s information system and computer networks from security risks, attacks, threats, intrusions, or other data breaches. With the growing sophistication of cyberattacks, firewalls, and anti-viruses are not enough anymore. There is a need for more robust protection through the help of a good cyber security posture management vendor.

Some General Statistics on Cyber Crimes Since the Pandemic:

In a survey conducted by Norton, 53% of adults agree that remote work has made it much easier for cybercrimes to occur. Some of these security attacks include ransomware, phishing, SQL Injections, MITM, DDoS, and DNS Spoofing.
Global ransomware attacks surged by 102% in 2021.
The FBI has fielded over 2,000 cybercrime complaints daily in the US since 2020.
The first death caused by cybercrimes was reported in 2020 when a ransomware attack at a hospital in Düsseldorf, Germany, resulted in an IT failure and the end of a woman.
With the rapid rise of cybercrimes, global damages are touted to amount to at least $10.5 trillion annually by 2025.

Based on those statistics, there is a need to have a good cybersecurity posture management vendor to protect ourselves and our businesses online. That said, given the abundance of cybersecurity vendors, it may take time to choose the best one. As such, this article can help you find the best possible vendor for your needs.

Features of a Good Cyber Security Posture Management Vendor

1) Good Scalability of Solutions
The security vendor you choose should be able to keep pace with the growth of your organisation while staying well ahead of any possible threat. As such, as you add new endpoints, expand your network, or integrate additional operational tools and technologies, their products and services will not be rendered obsolete. A good vendor should be committed to developing and releasing new functions and features that combat emerging threats while being flexible enough to adapt to their client's needs.

2) Customisable Protection
The vendor should be able to tailor their offerings based on your organisation's needs. Given the rapid evolution of cybercrimes, a 'one size fits all' protection from a vendor would be insufficient. Likewise, each organisation and needs are different. Some would need overall cybersecurity protection, while others only require an add-on to existing services.
A good vendor should be able to customize their services based on the customer's needs. While an out-of-the-box product can provide a certain level of protection, having the ability to customise through modular add-ons can give the best level of protection your business would need.

3) Experienced Cybersecurity Experts
The security team should be experienced in understanding how threats work, knowing how to spot them, and knowing how to prevent them. At its core, cybersecurity is about knowledge. As such, a good vendor should have experienced cybersecurity experts that use data-driven defences such as Big Data collection or artificial intelligence.

4) Holistic Approach to Security
With the level of sophistication shown by cybercriminals, protection should also be adequate in response. As such, they should be able to defend every aspect of your IT infrastructure. While phishing, ransomware, and DDoS have overlapping techniques for executing, a good vendor should have a high level of protection against each one of those possible threats. This entails 24/7, 365 days of end-to-end monitoring, detecting, and responding to threats. As such, a good vendor has a holistic approach to your security.

5) Cybersecurity Experts Are Always Accessible
Since cyberattacks are unforecastable, cybersecurity vendors should have tangible and intangible resources to respond to such attacks 24/7. This means that the vendor should have an established protocol that can guarantee that you are protected no matter what.

6) Price of Protection is Cost-Efficient
Since damages from cyberattacks can be expensive, you must be assured that your vendor can protect your organisation against such attacks. As such, a good vendor can provide you with a wide range of services and solutions to mitigate damaging cyberattacks at a competitive price. The perceived value of the product should equal its cost.

Final Thoughts
With the uptick of cybercrimes, organizations need to have a chance to protect themselves. With the help of a good cyber security posture management vendor, not only will they have the best possible protection from threats and attacks, but they will also have a good picture of the organization's security posture.

This is where we at Cyber Sierra come in. Since we know that cyber risks are a significant business concern, we have created an intelligent platform that helps secure businesses from threats. A few capabilities of our platform include periodic scans to proactively identify and fix issues, develop infuse policies to bolster organizational preparedness, run counter-phishing campaigns to prepare your team from phishing attacks, and detect any cloud misconfigurations. Essentially, with our highly skilled experts, you are assured that all your protection needs will be met.

Why Startups Must Get Serious About Cybersecurity

Cyber Sierra — Mon, 06 Feb 2023 09:13:51 +0000

I recently met the co-founder of an up-and-coming FinTech startup. During our conversation, he boldly stated, “My company is too small to need comprehensive cybersecurity.” Such a mindset is common in most startups. Many assume that only larger organisations should worry about phishing scams, ransomware attacks, or advanced persistent threats. Yet, the truth is worth noting.

Cybercriminals increasingly target small businesses and startups
Smaller businesses are more likely to be targeted by cyber attackers than larger enterprises. They also suffer more. Per one recent report, smaller companies (<100 employees) experience 350% more social engineering attacks than larger companies. Data breaches at small businesses have also surged by 152% in 2020 and 2021. And larger organisations? By only 75%. The cost of data breaches for small firms has also increased: from $2.35 million in 2020 to $2.98 million in 2021. The increase was much smaller for medium and large organisations during the same period.

Smaller businesses need more funds and human resources to implement robust cybersecurity measures, resulting in weak defences that leave many gaps for bad actors to exploit. Attackers also know that targeting larger firms is more likely to attract the attention of law enforcement. That’s why they prefer to target unprepared smaller businesses. In return, they get a reasonably high payout while keeping a relatively low profile.

How Startups Can Protect Themselves
Since 60% of small businesses fold within six months of a cyberattack, startups must take cybersecurity more seriously. If they don’t, they will become victims and struggle to survive, much less thrive. For one, all startups must implement a cybersecurity strategy, invest in robust security tools, and implement strong procedures to protect their business-critical data.

Startups can also benefit by identifying their most crucial assets and prioritizing their defense areas accordingly. Other protective strategies like next-gen anti-malware/anti-virus tools, multi-factor authentication, strong access controls, data encryption, backup, and regular cybersecurity training can also help to mitigate at least some cyber risks in their business landscape.

A Final Word
The writing is on the wall. Hackers target small businesses and startups as much as – and sometimes more – than established firms. And the sooner startup owners wake up to this reality, the better they can safeguard what matters to them – their digital assets, people, budding reputations, and most importantly, their futures.

8 Best Practices for Organisations to Ensure Cyber Hygiene

Cyber Sierra — Mon, 06 Feb 2023 09:08:05 +0000

Given the rapid evolution of cybercrime, the threat landscape is very volatile. In fact, since the pandemic, the FBI has reported a 300% increase in cyberattacks in the US. Unfortunately, 43% of attacks were aimed at small businesses, but only 14% were prepared to defend themselves.

With this in mind, it is pertinent that organisations develop a common cyber hygiene policy. Basically, given the level of sophistication of cybercrime today, installing an antivirus or using network firewalls is not enough. Rather, organisations should strive to maintain good cyber hygiene.

What is cyber hygiene?
Cyber hygiene pertains to a set of practices organisations should employ to maintain the health and security of their users, networks, devices, and data. Essentially, the goal is to guarantee the security of data and protect it from theft or attack.

As such, here are 8 of the best practices you can employ in your organisation to ensure cyber hygiene.

Ensuring your organisation’s cyber hygiene:

1) Employ Multi-Factor Authentication (MFA)

Enabling multi-factor authentication on all of your organization’s accounts and devices ensures that only authorised users have access.Given the variety of authentication methods available, having at least two or three verification factors, such as using one-time passwords (OTPs) and password-based authentication, creates a layered defence that makes it more difficult for an unauthorised person to access a network.

2) Ensure endpoint protection

Some businesses provide employees with Internet of Things (IoT) devices, such as laptops, desktops, and mobile phones, to access the corporate network. That said, businesses should ensure that these endpoint devices have device and browser protections as well as network, application, and data controls to ensure that sensitive data is protected. Likewise, the occurrence of any cyberattack is mitigated.

3) Perform regular backups

By regularly performing backups, organisations can be assured that their data is safe. That said, experts recommend following the 3-2-1 rule of backup, in which three copies of data are stored on two different kinds of media while keeping one copy offsite. Doing so can guarantee that all sensitive organisational data is secured.

4) Patch software right away

Since cybercriminals systematically look for vulnerabilities in outdated software, update your software right away whenever patches are available. In a 2020 IBM survey, they found that 43% of respondents who recently experienced data breaches indicated that the cause was a failure of the organisation to patch their software right away. As such, routinely screen your network for missing patches and update them right away when possible.

5) Implement a Cloud Access Security Broker (CASB)

For organisations that rely on infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a-service (SaaS), utilise CASB software. With this in place, it would secure connections between end users and the cloud. Likewise, it would enforce your organisation’s security policies, such as authentication, encryption, data loss prevention, and malware detection. Essentially, through a CASB, an organisation can have better visibility and control over the security of cloud-based data.

6) Educate your employees

Routinely conduct in-depth cybersecurity trainings to emphasise their crucial role in mitigating cyberattacks. Likewise, provide consistent reviews and updates on relevant cybersecurity policies to reinforce learning about foundational cybersecurity practices.

7) Routinely scan your system

Regularly conduct scans for your entire network to identify threats and vulnerabilities. This includes scanning endpoint devices and routers to determine any potential points of entry for attackers. Encrypting devices and having at least WPA2 or WPA3 encryption on routers can secure your network from threats.

8) Create an incident response plan

Given the plethora of attacks on big businesses such as the [2021 Colonial Pipeline Ransomware Attack, the 2021 T-Mobile Cyberattack(https://www.techtarget.com/whatis/feature/Colonial-Pipeline-hack-explained-Everything-you-need-to-know), and the 2020 SolarWinds Hack, businesses should have an incident response plan in case attacks like those do happen. Through an incident response plan, IT and cybersecurity professionals can identify the breach correctly, contain the threat, control the damage, and patch vulnerabilities that allowed the attack to happen in the first place. This can help the business recover from the attack with minimal damage.

Final Thoughts
Given that cyberattacks can be expensive and damaging to the organisation, it would be beneficial for companies to maintain good cyber hygiene. By following 8 of the best practices to ensure cyber hygiene, the organisation can be assured that possible threats are mitigated and data and networks are secure.

That said, if your organisation needs help maintaining good cyber hygiene, Cyber Sierra can help. With your organisation’s growth and security in mind, Cyber Sierra can assure you that all cybersecurity regulations will be met, risks will be managed seamlessly, security will be baked across the entirety of your business, third-party vendors will be monitored, and the right insurance coverage will protect you and your business from costly breaches. Essentially, with Cyber Sierra’s consolidated approach to security, you can be assured that all your security needs will be met.