July 2021 Roundup – Latest News, Trends & Updates in Data Centric Security
More than one in three organizations say that they are experiencing more cyberattacks
Ransomware attacks have been increasingly in the headlines—and reaching historic levels of impact with the recent Colonial Pipeline and Kaseya attacks.
Findings from the State of Cybersecurity 2021, Part 2 survey report from ISACA in partnership with HCL Technologies show that 35% of respondents report that their enterprises are experiencing more cyberattacks, three percentage points higher than last year.
The recent ransomware and cyberattacks clearly show that no system is completely invulnerable, and cyber attackers will always be able to gain access. It also shows that organizations are not paying attention to their cybersecurity measures.
Data encryption protects data wherever it resides. The encrypted data becomes obsolete as encryption makes it difficult for ransomware to detect it and attack. A good data-centric solution can prevent data leakage, as confidential data is protected independently of the exposure.
Majority of workers take cybersecurity shortcuts despite knowing dangers
Workers are engaging in risky behaviours which could put their company’s digital security at risk, despite knowing the dangers, according to new research.
The global survey, from ThycoticCentrify, polled workers from around the world to discover if they are following good cybersecurity practices.
The results make for concerning reading, particularly when considered in the wider context of remote or hybrid working. The survey found that 79% of respondents have engaged in one least one risky activity over the past year (Australia/NZ 83%, Singapore/Malaysia 81%, India 90%, Japan 67%).
Careless or unaware employees are the biggest vulnerability that exposes their organizations to cyberattacks. With the rise in digital transformation and the subsequent exponential increase in data generation, organizations have realized that security is about maintaining continuous business operations and it is not restricted to only data security and privacy.
However, an employee who does not follow proper procedures, for example, an employee forgetting to apply a security patch or an employee who does not change their passwords too often, exposes confidential data to a cyberattack.
There are no shortcuts to security. Organizations have to train their employees properly to spot risky behaviors and prevent them. A combination of training, organizational alignment, and the right technology to prevent data loss is the right approach.
Data breaches from insiders can cost as much as 20% of annual revenue
As companies emerge from the pandemic, and 40% of employees are planning to switch jobs1, corporate data is at risk. Files are being uploaded, shared, synced and emailed by employees as a normal course of everyday business or as they prepare for their next role with different organizations.
According to a recent study conducted by Aberdeen and commissioned by Code42, data breaches from insiders can cost as much as 20% of annual revenue. Perhaps just as important, the study showcased that at least one in three reported data breaches involve an insider. Both accidental and malicious Insider Risk can cost businesses material portions of revenue on an ongoing annual basis.
Human error remains one of the top reasons for cyberattacks. Employee carelessness coupled with malicious insider attacks has led to huge financial and reputation loss to organizations. Cybercriminals often use employees as entry point to get inside the corporate infrastructure.
The best way to combat cyberattacks is to combine the right tools with the right practices. Organizations must ensure that only authorized users have access to sensitive data and functionality that they need to perform their roles.
This will reduce the amount of information that is exposed even if the user commits an error that leads to a breach. Moreover, a data-centric solution that offers Zero Trust protection will ensure that even if the data is downloaded it is not accessible by anyone other than the authorized user.
Kaseya ransomware attack: 1,500 companies affected, company confirms
Enterprise tech firm Kaseya has confirmed that around than 1,500 businesses were impacted as a result of an attack on its remote device management software, which was used to spread ransomware.
It appears that the attackers carried out a supply chain ransomware attack by leveraging a vulnerability in Kaseya’s VSA software against multiple managed service providers (MSP) – and their customers.
The attackers asked for $70 million in exchange for a universal decryption tool that would supposedly resolve the REvil issue for Kaseya and its customer.
Ransomware is an unfortunate part of cybersecurity life. With threats becoming more sophisticated, organizations lose their intellectual data and put their entire business at risk. They also end up paying huge ransoms with the hope of getting their data back.
Organizations have to clearly understand the cost of tradeoffs of investing in cybersecurity and employee education, against loss of access to critical data and the resulting impact on their business.
Guarding business-critical information against such ransomware attacks should be the top priority of any business. They have to protect their critical, sensitive, data with a best-in-class data security solution that protects the data and makes it unavailable, even if it is downloaded in any other system.
Microsoft: Zero Trust security just hit the mainstream
Zero Trust, the borderless security strategy being pushed by vendors, has fully caught on in the enterprise, according to Microsoft’s latest survey of cybersecurity defenders.
As Microsoft has argued, part of zero trust is assuming the corporate network has already been breached, either by hackers targeting that network through phishing or malware, or via an employee’s compromised home device connecting to the network.
The message has gotten through to organizations. Microsoft’s survey of 1,200 security decision makers over the past year found that 96% of consider Zero Trust to be critical to their organization.
The Zero Trust principle shifts the attention away from the perimeter security and instead puts the focus on controlling access to resources. No access is allowed to a resource without first verifying the requester’s identity and authorization.
The principle of Zero Trust merely defines how authentication should be performed (granular and identity-based) and how authorization is performed (always). It does not define a specific implementation.
Microsoft solutions have been at the forefront of ensuring Zero Trust security and SECUDE, a trusted Microsoft partner, automatically labels and protects any data exported out of SAP and CAD/PLM using Microsoft information Protection(MIP).