Security News - SiteProNews https://www.sitepronews.com/category/articles/security/ Breaking News, Technology News, and Social Media News Tue, 13 Aug 2024 20:15:31 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.10 Ransomware Explained: Understanding the Growing Threat and How to Safeguard Your Data https://www.sitepronews.com/2024/08/02/ransomware-explained-understanding-the-growing-threat-and-how-to-safeguard-your-data/ Fri, 02 Aug 2024 04:00:00 +0000 https://www.sitepronews.com/?p=136960 While all organizations deal with various roadblocks as they scale, few are as disruptive as experiencing a major security breach. When a company’s systems and data become compromised – often as a result of a sophisticated cyberattack like ransomware – it can lead to a number of long-lasting consequences for its financial stability and reputation. […]

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While all organizations deal with various roadblocks as they scale, few are as disruptive as experiencing a major security breach. When a company’s systems and data become compromised – often as a result of a sophisticated cyberattack like ransomware – it can lead to a number of long-lasting consequences for its financial stability and reputation.

One of the most difficult challenges organizations face when protecting their digital assets is understanding how modern cyber threats have evolved over the years and what they can do to better secure their systems. 

Thankfully, some effective strategies can be implemented to better identify these threats before they happen and minimize the damage that successful ransomware attacks have on businesses.

The Escalating Danger of Ransomware Attacks

The topic of cybersecurity can be an intimidating one for businesses to discuss. This is especially the case if they haven’t prioritized security initiatives in the past or simply lack the full depth of how serious many modern-day cyber attacks can be.

To put things in perspective, ransomware has become one of the most prevalent forms of cyber attacks around the workplace. In fact, a recent study that polled the security status of multiple businesses representing several different industries found that 71% of them reported that they experienced some form of ransomware attempt in the last year.

The reason why cyber attackers are choosing ransomware as their preferred method for carrying out criminal activity has to do with how quickly these attacks can be distributed. Today, there are many different ways ransomware can be injected into unsuspecting victims’ systems. 

Simply opening an unverified document in an email or visiting a website with malicious web scripts installed is all it takes for malware to infect and take over connected systems and databases.

If this happens, many businesses that don’t have the proper recovery tools in place feel like their only option is to pay the ransom cybercriminals set, fueling the frequency and severity of these attacks over the years.

Why is Ransomware Becoming So Prevalent?

What makes ransomware so dangerous is how effective it is when encrypting data and completely disabling an organization’s ability to remove it once it has been triggered.

Over the years, available technologies have made it possible for cyber attackers to modify and significantly improve the level of sophistication used when executing these attacks. At the same time, most modern businesses have digitized much of their operations, expanding their infrastructures into cloud-based environments and using interconnected technologies.

As organizations continue to expand their digital footprints, these also double as larger attack surfaces (or entry points) that cyber attackers can use and exploit. This has made it much easier to find suitable targets for ransomware campaigns and gives attackers multiple attack vectors to work with in order to compromise a system.

Another challenge businesses need to contend with is how quickly threats are evolving. While some organizations may have prioritized certain cybersecurity initiatives in the past, they may often become outdated or no longer capable of protecting the organization from more advanced ransomware techniques.

Proactive Measures for Keeping Your Business Safe

One of the most effective ways to protect your business from cyberattacks like ransomware is by proactively taking them seriously. By prioritizing cybersecurity, you can significantly reduce the risk of becoming a target.

The reality is that the scale at which ransomware can now be distributed makes it much more likely that, as the years progress, most organizations, regardless of their size, will become intended or even unintended targets for an attack.

However, there are some protective measures you can put in place to reduce the likelihood of becoming a victim:

Implement Essential Security Protocols

It’s important to prioritize the implementation of various security protocols in your business to successfully reduce your attack surface and harden your systems. But before investing in various solutions or making major changes to your operating state, you’ll first need to know what to work on first.

Auditing your systems using benchmarks established by industry-leading security organizations is a great place to start. Depending on the type of business you operate, following guidelines specific to HITRUST certifications or SOC and ISO standards when configuring your systems and implementing security measures can help your organization ensure it follows best security practices at all times.

Conduct Vendor Assessments

As more organizations rely on cloud services and third-party partners to deliver services to their businesses and customers, regularly evaluating the security readiness of supporting vendors has become even more critical. While you may be investing heavily in improving your own organization’s security posture, this may not be the priority of the vendors you’re working with.

Conducting regular vendor assessments is critical to practicing due diligence with your partners and monitoring and controlling your company’s complete risk profile. This involves a comprehensive audit of the policies and active measures your partners have put into place to reduce security risks and protect business and client data.

Invest in Penetration Testing

Organizations can implement various security protocols to help keep their businesses secure. However, waiting until a ransomware attack is attempted to assess their effectiveness isn’t a safe or sustainable way to test your cybersecurity readiness.

Penetration testing is an invaluable service that businesses can use to simulate actual cyberattacks against their security protocols. By working with highly skilled cybersecurity professionals to assess and report on your system and network vulnerabilities, you can safely address them before they become a major liability for your business.

How to Mitigate the Damage of a Successful Ransomware Attack

Unfortunately, even when companies adopt a more proactive security stance when protecting themselves against cyber threats like ransomware, there is always the possibility that systems or databases become compromised.

To mitigate the potential damage that these scenarios can cause to the business, there are some important things you should do:

Evaluate Your Insurance Options

It’s important to know that only around 60% of organizations are ever able to retrieve their encrypted data when they decide to pay a ransom. In nearly all cases, the better option is to have a financial safety net in place that can be used in the event your organization needs to recover from an attack.

Investing in cybersecurity insurance ahead of time can be a safe and reliable way to ensure your business has the resources necessary to recover should you ever need it.

Prioritize Incident Response Planning

Planning for the worst-case scenario for your business is essential to minimize any damages the business can incur from lengthy system downtime. Incident response planning is an essential part of this and provides a systematic process for recovering critical systems and reversing any operational issues caused by a security breach.

Work With a Qualified Managed Security Service Provider

Even if your business already prioritizes cybersecurity, establishing a strong security foundation can seem challenging. However, with the right approach, you can build a robust defense system that safeguards your organization effectively.

Managed Security Service Providers (MSSPs) can be invaluable resources for helping your business become much more secure. Rather than providing in-house security teams, you can outsource all of your security needs to experienced industry professionals who can help you implement and monitor all of your security measures.

Don’t Become Another Statistic

Every year, ransomware attacks continue to trend upwards in frequency and organizations caught unaware could see potentially devastating consequences. 

By keeping aware of how these attacks are evolving and taking proactive steps to mitigate the risks, organizations can reduce the likelihood of becoming another damaging statistic.

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How Engineering Principles Can Be Applied to Reinforce Cybersecurity Measures Against Evolving Threats https://www.sitepronews.com/2024/07/22/how-engineering-principles-can-be-applied-to-reinforce-cybersecurity-measures-against-evolving-threats/ Mon, 22 Jul 2024 04:00:00 +0000 https://www.sitepronews.com/?p=136610 The threat that cyber attacks pose to the business world is staggering. In 2022, there were over 493 million ransomware attacks detected by organizations worldwide. That equates to more than 15 attacks per second, and ransomware is just one type of attack used by cybercriminals. Organizations that fail to prevent attacks face severe consequences. The […]

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The threat that cyber attacks pose to the business world is staggering. In 2022, there were over 493 million ransomware attacks detected by organizations worldwide. That equates to more than 15 attacks per second, and ransomware is just one type of attack used by cybercriminals.

Organizations that fail to prevent attacks face severe consequences. The average ransomware cost in 2022 was $4.54 million, which does not include the cost of the ransom, and experts predict the total cost of ransomware attacks for 2023 will exceed $30 billion.

As organizations seek out reliable ways to thwart attacks, many are turning to engineering principles to reinforce their cybersecurity frameworks. This approach enables cybersecurity by design rather than deploying it as an add-on to core infrastructure, which results in a more systematic, proactive, and adaptable approach than that provided by other common security solutions.

Benefits of engineering-based security

One of the key benefits of an engineering-based approach to cybersecurity is that it addresses the vulnerabilities exploited by social engineering attacks. Statistics show these types of attacks, which focus on user failure rather than system weaknesses, are the most common. Phishing — a type of social engineering attack — is the most common cyberattack overall, accounting for more than 3.4 billion spam email messages daily.

Engineering principles can safeguard against these attacks by pursuing user-centered design, since analyzing systems from a human perspective during the engineering phase allows for the introduction of features that reduce unintentional vulnerabilities. Engineering can also proactively create user environments that maximize ease of use and reduce the risk of security failures.

Social engineering vulnerabilities can also be reduced by leveraging engineering to reduce the need for user interaction. Systems can be engineered to empower an enhanced zero-trust approach to cybersecurity in which processes are automated to remove the need for human involvement.

Applying engineering principles also boosts cybersecurity by empowering a systems-oriented view. Taking a holistic, system-wide view of cybersecurity provides insights that may be missed by strategies focused on isolated components, and allows for the identification of interconnections and emerging synergies that may lead to vulnerabilities.

Approaching cybersecurity as an engineering function results in more resilient systems. Rather than just empowering reactive controls designed to repel attacks, engineering principles can empower cybersecurity controls that are resilient to attacks, even when they succeed. Resilient systems limit the negative impact of breaches and increase the speed of recovery because they can adapt their security response once breaches occur, ensuring the negative impact of attacks is minimized.

Overall, bringing an engineering perspective to cybersecurity instills more structure into the security framework. It results in systems that are more rigorous and disciplined.

Methods of applying engineering principles to cybersecurity

One primary method of applying engineering principles to cybersecurity involves taking steps to increase automation while decreasing human involvement. As mentioned, human-induced vulnerabilities are one of the key causes of cybersecurity breaches, with statistics showing that nearly 75 percent of breaches are caused by human negligence such as the failure to install a patch.

Utilizing Infrastructure-as-Code (IaC) in the development and deployment process is one approach that leverages engineering to boost cybersecurity. IaC relies on codes and scripts to manage the infrastructure environment, rather than delegating management responsibility to human agents, which reduces the risk of social engineering attacks by removing access authority from the targets of those attacks.

IaC further reduces the risk of cyberattacks by using robot agents to increase the complexity of systems. Distinct runtime accounts utilized within network-isolated environments trigger automated processes, thwarting the effectiveness of attacks like spear phishing and lateral movement techniques.

Fail-safe defaults are another security measure that can be engineered into systems to address human weaknesses. Essentially, the defaults minimize the damage from security breaches by triggering failures that limit attacker access, ensuring a line of defense will stay in place after a breach. Multi-factor authentication (MFA) is a simple fail-safe device that has become a common cybersecurity feature. Safeguards that require administrator privileges to install programs are another form of fail-safe utilized to prevent damage from malware.

Taking an engineering approach to cybersecurity also allows organizations to build defense in depth. Security controls can be engineered into systems on multiple layers, leveraging tools like encryption, firewalls, and intrusion detection systems. With this approach, a failure at one level can be mitigated by controls engineered into the next.

Compartmentalization involves engineering strategies that segment systems and networks into different zones or compartments. By restricting access to system segments, organizations can reduce threats and contain damage when breaches occur.

Cybersecurity threats are higher than ever, forcing organizations to repel a never-ending barrage of attacks or suffer serious financial and reputational damage. By leveraging the synergy between engineering and cybersecurity, organizations can develop and deploy resilient and responsive systems that address some of today’s most prevalent cyber attack strategies.

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Safeguarding Your Digital Footprint: Navigating the Landscape of Private Social Media https://www.sitepronews.com/2024/06/21/safeguarding-your-digital-footprint-navigating-the-landscape-of-private-social-media/ Fri, 21 Jun 2024 04:00:00 +0000 https://www.sitepronews.com/?p=136422 We live in an increasingly online world that, at least on paper, presents us with opportunities to connect with one another in unprecedented ways. Unfortunately, this is far from the reality of what social media has become. Although many social media platforms claim to be designed to unite and “connect” us, their reality is much […]

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We live in an increasingly online world that, at least on paper, presents us with opportunities to connect with one another in unprecedented ways. Unfortunately, this is far from the reality of what social media has become.

Although many social media platforms claim to be designed to unite and “connect” us, their reality is much more nefarious. Most instead serve as data collection companies, which reduce us to mere data points that can be sold to advertisers. Although the leaders of these companies explain the collection and use of data away as necessary for the “personalization” of the user experience, this personalization is an illusion.

Does social media take more than it gives?

While social media platforms have claimed to be transparent about the way their platforms collect, store, and use user data, the truth is much less clear. Research shows that these agreements, such as terms of use and privacy policies, are written using deliberately confusing language. If a user even reads the agreement they are signing — accounting for a scant 1 out of 5 people who “always” or “often” read these policies — they are unlikely to understand how these companies use (or, more accurately, sell) their data. 

For example, just look at the controversies that have shaken the social media sector in the past few years. People still have not forgotten Facebook’s Cambridge Analytica scandal or how other platforms, like TikTok, are currently experiencing their own data privacy controversies. Users are understandably concerned about the relationship between online communication and their data.

The reality of social media is that these platforms are run on business models that depend entirely on revenue from selling user data. Although these platforms are “free” services, users must remember the adage that “nothing is ever free.” Instead of paying for these apps with their wallets, users pay for them with their data, and their behavior becomes data that can be sold by these apps to advertisers at a rate of around 2 cents per minute of screen time per user. Thus, it becomes clear that these platforms are not interested in forming genuine connections between their users — they are interested in how they can market screen time and ads to users.

Today, social media is causing more fragmentation and isolation than genuine connection. Social media users are forming superficial online relationships with people they (mostly) don’t know. 

However, just because a photo they post gets hundreds or even thousands of views and likes doesn’t mean it made a genuine or lasting impression on even one of those people. Social media platforms have tricked our society into being immersed in the virtual world of an algorithm’s creation.

In the era of social media, many of the “connections” we form with people online are not due to actual connections but rather connections perceived between data points of our behavior that algorithms have determined to be relevant for marketing purposes. The result is a formation of rabbit holes and echo chambers — online spaces where content and marketing “tailored” to users is continuously recommended to them, isolating users from the rest of the community in favor of guiding them to certain actions, like making a purchase based on an advertisement.

Creating a communication platform that protects data while driving exponential value

Communication platforms have an opportunity to disrupt the status quo of social media by allowing users to foster genuine connections with others. Instead of the data collection from which most social media platforms have derived their revenue, online communication platforms instead look toward one simple way of generating revenue: providing legitimate value in forming connections that reach beyond the digital realm.

Ultimately, the key to success in disrupting the status quo of social media and creating a communication platform that can thrive without collecting or selling user data is restoring the element of user privacy. Users must be able to create private communities where they opt-in to share their data with locations they are visiting or people they connect with, allowing them to curate a space genuinely tailored to their interests and needs.

By establishing a platform in which the choice of data sharing is restored to the user, communications platforms also have the opportunity to regain freedom and lack of censorship. In a virtual community of their own creation, users have opted in to participate and share their information. There is no monitoring by a digital watchdog policing what is said in these spaces. Instead, members of these communities can determine what is and is not appropriate and moderate it themselves. Additionally, because these environments are created by the users, they can block parties like bots, scammers, and third parties that take advantage of traditional media platforms to the detriment of users and their data privacy.

The future of social media lies not with the platforms that currently exist but with a new class of online digital communication platforms that seeks to restore the concept of legitimate connection to the digital world. It is high time that online communication platforms stop looking at users as data points to be sold and, instead, as real people to whom they can provide value by helping them form legitimate connections.

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The Impact of Third-Party Cookies ending on PR and SEO https://www.sitepronews.com/2024/04/02/the-impact-of-third-party-cookies-ending-on-pr-and-seo/ Tue, 02 Apr 2024 04:00:00 +0000 https://www.sitepronews.com/?p=135979 Understanding the implications of third-party cookies  There’s been significant chatter surrounding the impending demise of third-party cookies. With the process already underway, Google is set to completely eliminate third-party cookies. As of early January, Google began rolling out this change across a small percentage of its platform, with plans to phase out third-party cookies entirely […]

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Understanding the implications of third-party cookies 

There’s been significant chatter surrounding the impending demise of third-party cookies. With the process already underway, Google is set to completely eliminate third-party cookies. As of early January, Google began rolling out this change across a small percentage of its platform, with plans to phase out third-party cookies entirely by the end of 2024.  

But what exactly does this mean and why does it matter? 

A brief history of third-party cookie blocking 

It’s worth noting that Google is somewhat behind the curve in its efforts to remove and block third-party cookies.  

Safari and Firefox have been blocking third-party cookies as standard for some time now, and Opera allows users to opt out manually. So why is Google’s move causing such a stir if others have already taken similar steps? The significance lies in the sheer number of users on Google Chrome, which surpasses the collective user base of most other browsers, combined. 

Google has built a substantial advertising and targeting economy around third-party data, making its decision shift particularly impactful. 

Understanding third-party cookies 

To grasp the implications of eliminating third-party cookies, it’s essential to understand how they function.  

Cookies are text files that enable websites to remember user information, such as login details and browsing history. First-party cookies are generated by the website being visited, while third-party cookies originate from domains unrelated to the current site.  

These third-party cookies track user activity across multiple websites, allowing companies to create detailed profiles of browsing habits. 

Reasons for blocking third-party cookies 

Google’s decision to remove third-party cookies stems from societal concerns regarding data privacy. However, given Google Chrome’s dominance in search and advertising revenue, the move presents a complex scenario. Digital marketers have long relied on third-party cookies to drive engagement and conversions, building a successful business model, which makes this transition even more challenging. Google has reaped the rewards of this. 

The search engine brings in around 90% of its revenue through its Google Ads platform. 

They’ve created a mutually beneficial eco-system and, for a very long time, a lot of people have been building their platforms and their success on the foundations of Chrome and its third-party cookies.  

Anticipated changes 

In real terms, the biggest changes are likely by the end users. 

The removal of third-party cookies is expected to have significant implications for businesses and brands reliant on targeted advertising and tracking data. They are going to have to adapt to new ways of targeting their core audiences for themselves and for clients. From an advertising, marketing and re-marketing perspective, those who have previously relied on third-party data will have to shift. 

What are the alternatives?  

The future of Google’s proposed proprietary alternatives, known as the Privacy Sandbox APIs, remains shrouded in uncertainty. Testing on these products has faced prolonged delays and Google has offered scant information regarding their functionality.  

Until we gain clarity on these new products, it’s difficult to provide definitive answers. Moreover, there’s uncertainty regarding their compliance with GDPR in the UK. 

In addition to Google’s Privacy Sandbox APIs, other alternatives such as device fingerprinting, OS-level tracking, and hardware tracking are under discussion as potential replacements for third-party cookie tracking.  

However, there are concerns about the ethical implications. With the risk that they could become ethically opaque and open to misuse. This raises the possibility of replacing one morally ambiguous solution with another, further complicating the landscape of data tracking and audience segmentation. 

Without clear guidance from Google on alternative solutions, uncertainty looms over the future of online targeting. Various alternatives, such as device fingerprinting and contextual targeting, are being discussed but come with their own set of challenges and ethical concerns.  

Shifting mindsets and approaches 

The conversation surrounding third-party cookies reflects a broader shift towards ethical data practices emphasising first-party data. This could be data taken directly from website users on owned sites and apps.  

Another alternative being discussed is contextual targeting; which analyses the content of any given page visited without divulging private user data. This presents new opportunities but also requires regulatory frameworks to ensure accountability and transparency.   

While contextual targeting offers certain advantages, it also poses challenges. One potential downside is that websites would need to increase the amount of text and content to extract meaningful data or signals. Unlike third-party cookies, contextual targeting lacks the same level of granularity in understanding user interests and intent. 

Furthermore, models built on contextual targeting rely heavily on sophisticated natural language processing algorithms. The development and implementation of such algorithms would necessitate unified global AI legislation and regulation, which is currently lacking.  

This underscores the complex regulatory considerations associated with transitioning away from third party cookies. 

Impact on SEO 

While the removal of third-party cookies may not directly impact organic search rankings, it could affect the relevance of promoted search items and snippets. These will likely become less relevant to users.  

Businesses will instead need to focus on creating high-quality owned content to maintain visibility in organic search results.  

Adapting to change 

The transition away from third-party cookies signals a fundamental shift in online advertising and marketing practices. 

As targeting capabilities become more generalised, strategies across various channels, from content creation to digital PR, will need to evolve to capture audience attention effectively.  

In summary, the end of third-party cookies heralds a new era in digital marketing, characterised by a balance between ethical data practices and effective audience engagement strategies. While challenges lie ahead, adaptation and innovation will be key to navigating this evolving landscape.

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Identity Verification Services for Ecommerce https://www.sitepronews.com/2024/01/29/identity-verification-services-for-ecommerce/ Mon, 29 Jan 2024 05:05:00 +0000 https://www.sitepronews.com/?p=133970 In the dynamic world of digital commerce, the role of identity verification services has become increasingly crucial. As eCommerce continues to expand, the imperative to accurately verify customer identities grows in tandem, serving as a bulwark against fraud, identity theft, and ensuring a secure online shopping environment. This necessity is underscored by the escalating sophistication […]

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In the dynamic world of digital commerce, the role of identity verification services has become increasingly crucial. As eCommerce continues to expand, the imperative to accurately verify customer identities grows in tandem, serving as a bulwark against fraud, identity theft, and ensuring a secure online shopping environment. This necessity is underscored by the escalating sophistication of cyber threats and the growing demand for enhanced user security.

The significance of identity verification in eCommerce is multifaceted. It serves as a frontline defense against fraudulent transactions and unauthorized account access, while also ensuring adherence to regulatory frameworks such as Know Your Customer (KYC) and Anti-Money Laundering (AML) standards. These services typically involve validating customer-provided data against established records, whether they be public databases, credit files, or other reliable sources. The spectrum of verification methods is broad, ranging from traditional password-based approaches to more advanced techniques like biometric verification, encompassing facial recognition, fingerprint scanning, and even voice recognition. Additionally, two-factor authentication (2FA) and document verification, including passports and driver’s licenses, are becoming increasingly commonplace.

A critical aspect of implementing identity verification is striking a balance between robust security and user experience. Overly rigorous verification processes can deter customers, leading to abandoned shopping carts, while lenient procedures can leave the door open to fraudulent activities. The ideal solution is one that integrates seamlessly into the customer journey, providing a secure yet unobtrusive experience.

Key features of effective identity verification services in eCommerce include:

  • Real-Time Verification: This allows for immediate identity checks, offering a seamless integration into the customer’s shopping experience without significant delays or disruptions.
  • Multi-Factor Authentication: By combining different forms of verification (something the user knows, has, and is), a more secure environment is created, significantly reducing the likelihood of unauthorized access.
  • Document Verification: Utilizing AI and machine learning technologies, this feature enables the authentication of various official documents, enhancing the reliability of the verification process.
  • Biometric Analysis: This modern approach, using unique biological traits of individuals, adds an additional layer of security and convenience.
  • Age Verification: For businesses dealing in age-restricted products, this feature ensures compliance with legal age requirements, which is essential for responsible selling practices.
  • Global Coverage: Catering to a global customer base requires the capability to verify identities across different countries and regions.
  • Data Security: In an age where data breaches are commonplace, ensuring the secure handling and storage of personal data in compliance with regulations like GDPR is paramount.

The challenges in implementing these services are diverse. Respecting customer privacy while conducting thorough verifications is a delicate balance. Adapting to the ever-changing landscape of global regulations is another significant challenge. The integration of these services into existing eCommerce platforms and CRM systems must be smooth and efficient to avoid disrupting the user experience. Additionally, the cost of implementing these services must be weighed against the benefits of reduced fraud and increased customer trust. Ensuring accessibility for all users, including those with disabilities or limited access to technology, is also a critical consideration.

Future trends in identity verification point towards an increased reliance on AI and machine learning for enhanced accuracy, the potential use of blockchain for a more secure and decentralized approach, and a focus on mobile-first solutions in line with the growth of mobile commerce. Continuous authentication, which involves monitoring user behavior throughout their session to detect any anomalies, is also gaining traction. Furthermore, there is a growing movement towards the standardization of identity verification processes globally, which could simplify compliance for international eCommerce operations.

In summary, identity verification services are rapidly becoming an integral component of the eCommerce landscape. They are pivotal not only in mitigating fraud and enhancing security but also in fostering customer confidence and trust in online transactions. As technology continues to advance, these services are expected to become more sophisticated, integrating more seamlessly into the customer experience while providing robust protection against the evolving array of online threats.

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Beyond Cybersecurity: Exploring Third-party Risk in Business Operations https://www.sitepronews.com/2023/10/16/beyond-cybersecurity-exploring-third-party-risk-in-business-operations/ Mon, 16 Oct 2023 04:05:00 +0000 https://www.sitepronews.com/?p=131720 In today’s interconnected business landscape, companies rely on many third-party vendors, suppliers, and partners to streamline their operations and achieve efficiency. While this approach offers numerous benefits, it also exposes businesses to significant risks. Beyond the realm of cybersecurity, where companies invest heavily in protecting their digital assets, lies another pressing concern – third-party risk […]

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In today’s interconnected business landscape, companies rely on many third-party vendors, suppliers, and partners to streamline their operations and achieve efficiency. While this approach offers numerous benefits, it also exposes businesses to significant risks. Beyond the realm of cybersecurity, where companies invest heavily in protecting their digital assets, lies another pressing concern – third-party risk management. This blog will explore third-party risk management and why it is crucial for modern businesses.

The Expanding Third-Party Ecosystem

Before we dive into the intricacies of third-party risk management, let’s first understand the scope of the issue. Over the past few decades, businesses have increasingly relied on third-party relationships. These relationships can encompass various activities, including outsourcing, procurement, and collaborative partnerships.

For example, a retail giant may rely on third-party logistics providers to handle its supply chain operations. A software company might partner with a third-party development team to accelerate product development. Even seemingly non-technical aspects, like office cleaning or catering services, can involve third-party vendors. All these relationships create a vast and complex third-party ecosystem.

The Importance of Managed Third-Party Risk

As businesses expand their networks of third-party relationships, they also expand their exposure to various risks. These risks can come in multiple forms: financial, operational, compliance, reputational, and even legal. Managed third-party risk becomes a critical component of overall risk management strategies.

Financial Risk

Third-party vendors’ financial health and stability can significantly impact your business. A vendor’s financial troubles can disrupt your supply chain, lead to project delays, or even result in contract disputes. According to a 2022 report by the Global Risk Institute, 43% of businesses surveyed experienced disruptions in their supply chain due to financial problems with third-party vendors in the past year. By managing third-party financial risk, you can identify potential issues before they escalate.

Operational Risk

Third-party partners play a vital role in your day-to-day operations. Any operational issues on their end can ripple through your organization. A logistics provider’s failure to deliver goods on time or a technology vendor’s system outage can disrupt your business. Effective risk management helps you anticipate and mitigate these operational disruptions.

Compliance Risk

Regulations and compliance requirements are continually evolving. When you engage with third parties, you share compliance responsibilities. Failure to ensure that your vendors adhere to relevant regulations can result in penalties and damage your reputation. Managed third-party risk includes compliance monitoring to reduce these risks.

Reputational Risk

The reputation of your business is a valuable asset. Any unethical or irresponsible behavior by a third-party vendor can tarnish your image. You can protect your brand’s reputation by carefully selecting and monitoring your partners.

Legal Risk

Contracts and legal agreements are essential components of third-party relationships. Inadequate contract management can expose your business to legal disputes and liabilities. Managed third-party risk includes robust contract management to mitigate legal risks.

The Process of Third-Party Risk Management

Effectively managed third-party risk program involves a systematic approach:

Identification

Begin by identifying all third-party relationships within your organization. This involves cataloging vendors, suppliers, contractors, and any other external entities you engage with.

Assessment

Evaluate the risks associated with each third-party relationship. This assessment should include financial health checks, compliance reviews, and operational risk assessments.

Risk Mitigation

Develop strategies to mitigate identified risks. This may involve renegotiating contracts, diversifying vendors, or setting up contingency plans.

Monitoring

Continuously monitor your third-party relationships to ensure ongoing compliance and performance. This includes regular audits and performance reviews.

Response and Recovery

Have a plan for responding to and recovering from third-party-related incidents. This might involve invoking contingency plans, legal action, or sourcing alternative vendors.

Documentation

Maintain thorough records of all third-party relationships, assessments, and risk mitigation efforts. This documentation is crucial for compliance and future reference.

The Benefits of Effective Third-Party Risk Management

Implementing a robust third-party risk management program offers several advantages to your business:

Risk Reduction

By proactively identifying and mitigating risks, you reduce the likelihood of disruptions to your operations and financial stability.

Cost Savings

Efficient risk management can lead to cost savings in the long run. For instance, renegotiating contracts with better terms or diversifying vendors can lower costs.

Reputation Protection

Protecting your reputation is invaluable. Effective risk management helps maintain your brand’s integrity in the eyes of customers and stakeholders.

Legal Compliance

Meeting legal and regulatory requirements is essential for avoiding costly penalties and legal disputes.

Competitive Advantage

Demonstrating third-party solid risk management practices can give your business a competitive edge. Many customers and partners prefer working with organizations that take risk seriously.

Resilience

A well-managed third-party ecosystem enhances your business’s ability to weather unforeseen challenges, such as economic downturns or global crises.

Conclusion

As businesses expand their third-party relationships, the importance of managed third-party risk cannot be overstated. Beyond cybersecurity concerns, companies must proactively identify, assess, and mitigate the myriad risks associated with their third-party partners. Organizations can protect their financial stability, reputation, and overall operational integrity by adopting a comprehensive third-party risk management approach. In today’s complex business landscape, it’s not enough to secure your fortress; you must also fortify the walls of your extended ecosystem.

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Tech Struggles and Infrastructure Challenges for Small Businesses https://www.sitepronews.com/2023/10/06/tech-struggles-and-infrastructure-challenges-for-small-businesses/ Fri, 06 Oct 2023 04:00:00 +0000 https://www.sitepronews.com/?p=131638 Among all the challenges small businesses face, technology-related ones can be some of the toughest to overcome. Many founders and their tight-knit teams are well-versed in revenue-producing skills such as sales and marketing. However, they aren’t necessarily as confident in their IT abilities. This leaves the company open to a host of problems, not the […]

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Among all the challenges small businesses face, technology-related ones can be some of the toughest to overcome. Many founders and their tight-knit teams are well-versed in revenue-producing skills such as sales and marketing. However, they aren’t necessarily as confident in their IT abilities. This leaves the company open to a host of problems, not the least of which is security breaches.

Though data breaches at big corporations tend to get more press, companies of all sizes can be targets for cybercrime. A reported 700,000 small businesses were targets of data breach activity in 2020. Other common tech-focused challenges include website issues, e-commerce difficulties, remote worker connectivity and collaboration issues, and system incompatibility. While these challenges are undeniably frustrating, they can be maddening when taken together.

If you can relate as a business leader, consider trying the following tactics to resolve your biggest tech struggles.

1. Assessment and Planning

Before initiating any technological overhaul, evaluating your existing technology environment and plotting a strategic direction is crucial. This involves understanding where your business stands, identifying bottlenecks, and charting a clear path forward.

  • Technology Infrastructure Assessment: Carefully evaluate your existing technology systems, hardware, and software to comprehensively understand their effectiveness and limitations.
  • Tech Challenges Identification: Identify technological challenges hampering productivity, efficiency, or customer satisfaction.
  • Clear Technology Goals: Set short-term and long-term technology objectives aligning with your business goals, enabling systematic progress toward improved infrastructure and processes.

2. Cybersecurity and Data Protection

Safeguarding sensitive information is important. Addressing cybersecurity and data protection concerns ensures the integrity of your operations and maintains trust with customers and partners.

  • Robust Cybersecurity Measures: Establish a multi-layered approach to cybersecurity, including firewalls, intrusion detection systems, encryption, and routine vulnerability assessments.
  • Employee Education: Train your employees to recognize and respond to potential cyber threats, building a culture of vigilance against phishing, malware, and other attacks.
  • Response Planning: Develop a comprehensive plan outlining the steps during a cyber incident, including containment, recovery, communication, and compliance with data breach regulations.

3. Move Operations into the Cloud

Transitioning to cloud-based systems can enhance flexibility and scalability while reducing operational costs. However, careful planning and execution are crucial to a successful migration.

  • Benefits Assessment: Evaluate the advantages of migrating to the cloud, such as improved remote access, automatic updates, and potential cost savings.
  • Migration Strategy: Plan the migration process meticulously, ensuring minimal disruption to business operations and data integrity during the transfer.
  • Data Security and Compliance: Choose a reputable cloud provider that adheres to data protection regulations and implements security measures to safeguard data stored in the cloud.

4. Centralize Your Data and Communications

Do you and your employees constantly have to move from one platform to another to see or retrieve different data sets? Not only is this inconvenient, but it’s a waste of time. Break down your data silos by centralizing all the data in your company. For instance, you might want to update a customer relationship management (CRM) system that can easily house all your information. Having data in one place makes communicating with internal and external stakeholders easier, streamlines analysis and reporting, and helps you optimize all your processes.

5. Remote Work Infrastructure

The rise of remote work necessitates a robust digital infrastructure that supports seamless communication, collaboration, and productivity, regardless of employees’ physical locations.

  • Remote Work Tools: Identify and integrate tools such as video conferencing, project management platforms, and virtual collaboration software to facilitate efficient remote work.
  • Connectivity Assurance: Ensure remote workers have reliable internet access and can easily connect to necessary business resources.
  • Security Considerations: Address security vulnerabilities associated with remote work by implementing secure connections, access controls, and data encryption.

The point is this: You don’t have to be a technical wizard or even have one on your team to overcome your tech and infrastructure dilemmas. Just be willing to acknowledge your technical deficiencies so you can put measures in place to make your hassles go away so your company can be more secure and successful.

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4 Risk Factors Devs Should Consider for ChatGPT Integrations https://www.sitepronews.com/2023/09/01/4-risk-factors-devs-should-consider-for-chatgpt-integrations/ Fri, 01 Sep 2023 04:05:00 +0000 https://www.sitepronews.com/?p=128107 ChatGPT, powered by OpenAI’s GPT-3.5 architecture , has revolutionized the world of conversational AI, enabling developers to build sophisticated chatbot systems. However, like any software integration, there are risks involved that developers need to consider . In this article, we will explore four critical risk factors that developers should keep in mind when integrating ChatGPT […]

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ChatGPT, powered by OpenAI’s GPT-3.5 architecture , has revolutionized the world of conversational AI, enabling developers to build sophisticated chatbot systems. However, like any software integration, there are risks involved that developers need to consider . In this article, we will explore four critical risk factors that developers should keep in mind when integrating ChatGPT into their applications. Developers may guarantee the flawless and secure operation of their chatbot systems by being aware of these hazards and adopting preventative actions.

1. Data Privacy and Security

One of the primary concerns when integrating ChatGPT is the handling of sensitive user data. Developers must ensure that the privacy and security of user information are adequately protected . This entails using strong encryption methods, using secure communication protocols and following the standards set by the industry for the transmission and storage of data.

For example, when a user interacts with a chatbot to provide personal information such as their name, address, or payment details, it is crucial to handle this data securely. In compliance with data privacy regulations, such as the General Data Protection Regulation (GDPR), developers should encrypt the data and only store it for as long as necessary.

By partnering with a reputable DevOps consulting firm, like the best devops consulting in Toronto, developers can receive expert guidance on implementing secure practices and ensuring data privacy, thereby mitigating the associated risks.

2. Ethical Use of ChatGPT

As AI systems become more powerful, it is crucial to consider the ethical implications of their use. The potential hazards associated with biased or damaging outcomes should be considered by developers integrating ChatGPT. ChatGPT’s responses are generated based on the data it has been trained on which can inadvertently contain biases or produce inappropriate content.

To mitigate these risks, developers should carefully curate and review the training data, ensuring it is diverse, inclusive, and representative. Ongoing monitoring of the system’s responses is also essential to identify and address any ethical concerns promptly.

For instance, if a chatbot integrated with ChatGPT provides medical advice, it must be programmed to recognize potentially dangerous or incorrect recommendations. Regular audits and testing can help detect and rectify any biases or ethical issues that arise during the system’s operation.

3. User Experience and Expectations

Integrating ChatGPT requires developers to strike a balance between AI capabilities and user expectations. While ChatGPT is impressive in its language generation abilities, it still has limitations. It may not always provide accurate or relevant responses, and users can easily become frustrated if their queries are misunderstood or misinterpreted.

To manage user expectations effectively, developers should communicate the system’s limitations upfront and provide clear instructions on how to interact with the chatbot. Incorporating fallback mechanisms, such as offering the option to escalate to a human operator, can help maintain a positive user experience and avoid potential frustrations.

For instance, the best devops consulting in Toronto can help developers optimize the user experience by conducting usability testing, analyzing user feedback, and continuously refining the chatbot’s performance based on real-world data.

4. Continuous Monitoring and Improvement

Once integrated, a chatbot powered by ChatGPT requires ongoing monitoring and improvement to ensure its reliability and effectiveness. It is crucial to track system performance, user feedback, and key performance indicators (KPIs) to identify any issues or areas for improvement.

Real-time monitoring can help detect anomalies, such as sudden spikes in errors or inappropriate responses, which may indicate a problem with the underlying AI model. Regular model updates and retraining can help mitigate these risks and improve the chatbot’s performance over time.

Additionally, developers should actively seek and incorporate user feedback to make informed decisions about the system’s enhancements and prioritize the most valuable features.

Conclusion

Integrating ChatGPT into chatbot systems presents exciting opportunities for developers to enhance user experiences and streamline communication. However, it is essential to consider the associated risks and take proactive measures to mitigate them effectively.

By addressing data privacy and security concerns, ensuring ethical use of ChatGPT, managing user expectations, and continuously monitoring and improving the system, developers can create robust and reliable chatbot integrations.

Remember, by prioritizing security, ethics, user experience, and continuous improvement, developers can unlock the full potential of ChatGPT while delivering exceptional value to users.

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Empowering DevSecOps in a Complex Multi-Cloud Landscape: A Comprehensive Guide https://www.sitepronews.com/2023/08/31/empowering-devsecops-in-a-complex-multi-cloud-landscape-a-comprehensive-guide/ Thu, 31 Aug 2023 04:00:00 +0000 https://www.sitepronews.com/?p=128091 In today’s digital world, managing software development and operations effectively ischallenging. Complex multi-cloud environments and the need for security have led to theemergence of DevSecOps. DevSecOps integrates security into every stage of the softwaredevelopment lifecycle. In this blog post, we will explore how to empower DevSecOps in acomplex multi-cloud landscape and highlight the importance of […]

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In today’s digital world, managing software development and operations effectively is
challenging. Complex multi-cloud environments and the need for security have led to the
emergence of DevSecOps. DevSecOps integrates security into every stage of the software
development lifecycle. In this blog post, we will explore how to empower DevSecOps in a
complex multi-cloud landscape and highlight the importance of seeking expert guidance, for
successful implementation.

Understanding the Multi-Cloud Landscape

A multi-cloud environment utilizes multiple cloud computing services to meet specific
business needs. It offers flexibility, reduced vendor lock-in, and improved reliability. However,
managing security across multiple clouds can be daunting. DevSecOps provides a
framework to integrate security practices into multi-cloud deployments.

1 . Build a Secure DevOps Culture:

Creating a culture of security awareness and collaboration is crucial for DevSecOps. Teams
should work together to identify and address security vulnerabilities from the start. According
to a recent survey, organizations that foster a DevSecOps culture experience a 50%
reduction in security incidents compared to those without a strong security culture.
Encourage cross-functional collaboration, knowledge sharing, and training programs to
promote a security-focused mindset.

2. Implement Continuous Security Practices

Traditional security approaches fall short in dynamic cloud environments. Implement
continuous security practices like continuous integration and continuous deployment
(CI/CD). Automate security testing, code scanning, vulnerability assessments, and
configuration management throughout the software development lifecycle. According to
industry reports, organizations that adopt CI/CD practices experience a 75% decrease in the
time required to detect and remediate security vulnerabilities. Leverage tools such as
Jenkins, GitLab, and SonarQube to automate security checks at every stage of the
development pipeline.

3. Leverage Cloud-Native Security Tools

Each cloud provider offers security tools and services. Leverage cloud-native security
solutions aligned with your multi-cloud strategy. Use network security groups, web
application firewalls, identity and access management, and data encryption. A study
conducted by a leading research firm found that organizations utilizing cloud-native security
tools experienced a 30% decrease in security incidents. Leverage cloud provider-specific
security services such as AWS Identity and Access Management (IAM), Azure Security
Center, and Google Cloud Security Command Center to enhance your security posture.

4. Employ Infrastructure as Code (IaC)

Infrastructure as Code (IaC) is vital for DevSecOps in a multi-cloud environment. Define and
manage infrastructure resources using code for consistent, repeatable, and auditable
deployments. Treat infrastructure as code to codify security controls and configurations. A
survey of IT professionals revealed that 78% of organizations adopting IaC reported
improved security compliance and reduced configuration errors. Utilize tools like Terraform,
CloudFormation, or ARM templates to define infrastructure and enforce security
configurations consistently across multiple cloud platforms.

5. Seek Expert DevOps Consulting

In a complex multi-cloud landscape, seek expert guidance to empower DevSecOps
effectively. DevOps consulting firms provide specialized knowledge and experience in
implementing and optimizing DevSecOps. For Toronto organizations, engaging with the best
DevOps consulting services
offers valuable insights and strategies tailored to your needs.
According to a customer satisfaction survey conducted by ABC Consulting, 95% of
organizations that collaborated with top DevOps consulting firms reported improved security
and operational efficiency. These experts can assist with strategy development, tool
selection, process optimization, and security best practices.

Conclusion

Empowering DevSecOps in a complex multi-cloud landscape requires a holistic approach
that integrates security practices throughout the software development lifecycle. Build a
secure DevOps culture, implement continuous security practices, leverage cloud-native
security tools, and employ Infrastructure as Code (IaC). Seek expert guidance, such as the
best DevOps consulting in Toronto, for navigating the complexities of multi-cloud
environments. Embrace the power of DevSecOps to unlock your organization’s full potential
in the digital landscape. By prioritizing security and collaboration, and leveraging automation
and expert knowledge, you can ensure the successful implementation of DevSecOps
practices in your multi-cloud environment.

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Mobile Phones Are the New Target: 5 Ways to Avoid Hackers https://www.sitepronews.com/2023/08/30/mobile-phones-are-the-new-target-5-ways-to-avoid-hackers/ Wed, 30 Aug 2023 04:00:00 +0000 https://www.sitepronews.com/?p=128095 While computers and laptops were at risk of getting hacked, attackers now have a new target of interest. Since mobile phones are more commonly used, much personal information is clustered into one tiny frame. It makes your phone a gold mine for hackers! It is also why mobile phones have become a new target for […]

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While computers and laptops were at risk of getting hacked, attackers now have a new target of interest. Since mobile phones are more commonly used, much personal information is clustered into one tiny frame. It makes your phone a gold mine for hackers!

It is also why mobile phones have become a new target for hackers. In this blog, we will cover five ways to protect your mobile devices against these exploitations so that your sensitive information is safe on your phone. Let’s get started: 

Why Are Hackers Targeting Mobile Phones? 

According to a recent report, mobile phone traffic has the largest market share (65.57% of all mobile traffic). From the stars, it is easy to conclude why hackers are now targeting mobile phones to carry out cybersecurity attacks on individuals and organizations alike.

To Steal Credentials

Stealing passwords is a fool-proof way to gain access to a corporate network. Hackers often use phishing attacks to get sensitive information like credentials, credit card information, etc. And since most people now use their phones to manage emails, hackers find it easier to exploit those. 

To Obtain Organizational Data

Around 40% of small businesses reported data loss due to cyberattacks in a report published in May 2023. And since a significant part of office work is done through mobile phones, it is easier for hackers to target these devices and gain sensitive operational data.

To Spy

A mobile phone can be used for spying if it gets compromised by a hacker. Hackers can easily access the device’s microphone or camera and turn it on regardless of the time and place. And since everyone carries a phone, it not only endangers the owner’s privacy but also violates other people’s privacy. 

To Deliver Malware

It is also common for hackers to exploit mobile phones to deliver malware. It will infect the device and provide a gateway for hackers to access the corporate network. 

How Can Your Phone Get Hacked? 

A hacker can easily trick people into giving up sensitive information, and mobile phones are just the perfect setup. Here are a few ways your phone can get hacked. 

Phishing

Hackers commonly use phishing attacks (via email or text) to compromise user credentials. And these passwords help cybercriminals to hack into personal accounts and corporate networks. 

Tracking Software

Hackers use keyloggers and spyware to monitor keystrokes or to record general device activity. It is a common way hackers steal personal data using mobile phones. 

Using Bluetooth & Public WiFi

Public WiFi and unknown Bluetooth connections are highly insecure and are easier for hackers to intercept. 

There are various other ways your phone can get hacked, but some malicious file, software, or link usually initiates the attack.

Common Signs that Indicate Your Phone Is Hacked

Here are some common tell-tale signs to identify phone hacking:

  • Excessive pop-ups can indicate an adware infection, and clicking on them may complicate things further.
  • If you are receiving random calls or texts from different unknown numbers, chances are there has been a data breach.
  • A malicious app might run in the background if your data usage has increased in a few days.
  • If your battery drains more quickly, your phone may have some unwanted apps installed.
  • If your phone is overheating, malicious software might run in the background. 
  • Suspicious phone performance can also indicate hacking attempts.
  • If usual websites look different, your infected phone could redirect you to malicious websites.
  • Unusually high phone bills can indicate that your phone is hacked.
  • If you have suspicious apps on your phone that you don’t recognize, they may be malicious. 

5 Ways You Can Protect Your Phone from Getting Hacked  

1. Use Strong Passwords

Using complicated sequences and passphrases is better than using simple passwords. The more difficult it is to break a password, the more secure your data is. Using password managers is also a fool-proof way to create, store and manage your credentials. You can also use 2FA (two-factor authentication) for added security.

2. Install Updates

You must keep your mobile phone up-to-date by installing software updates, patches, and bug fixes. This way, you can ensure that there are no vulnerable spots in your device that can be exploited or hacked. 

3. Use Antivirus Software

You can only do so much alone when protecting your mobile phone. However, antivirus software can regularly scan your mobile phone to detect and remove malicious software, offering real-time protection. 

4. Clear Cookies and Browsing History

Deleting your browsing history and cookies can reduce your digital trail. It ensures that your personal data, preferences, and other sensitive information do not fall into the hands of vicious hackers.

5. Use a VPN

A virtual private network (VPN) protects your network security. A reliable VPN encrypts your network traffic and provides you with complete anonymity, even if you are using public WiFi. 

Besides this, one must practice healthy browsing habits. Clicking suspicious links and downloading software from unverified sources is a big NO. Turning off your WiFi and Bluetooth (when not in use) is also commonly recommended.  And not leaving your phone unattended always helps. For security reasons, try to use VPN for TextNow for secure calling or texting purpose.

What to do if your phone gets hacked?

Here are some measures you can take if you suspect that your phone is hacked:

  1. Delete any (suspicious) app you do not recognize.
  2. Block excessive unrecognized calls and report them as spam.
  3. Cancel subscriptions if your bill is unusually high. 
  4. Run a scan using some anti-malware tool
  5. Back up your data and restore your phone to its factory settings.
  6. Reset all your passwords (account credentials and phone passcode)
  7. Inform your friends and service provider. 

Bottom-line

All in all, hacking mobile phones has become more convenient for cybercriminals, and the increasing use of such devices is only fueling this wave. However, with some basic security measures, you can ensure that your mobile phone is protected against such exploitations and that your data is safe against breaches and hacking attempts.

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Purchase of Cybersecurity Solutions Is the Most Popular IT Investment Among Canadian Companies this Year https://www.sitepronews.com/2023/08/07/purchase-of-cybersecurity-solutions-is-the-most-popular-it-investment-among-canadian-companies-this-year/ Mon, 07 Aug 2023 04:05:00 +0000 https://www.sitepronews.com/?p=127256 Purchase of cybersecurity solutions/services/apps (55%), as well as cybersecurity training for employees (51%), are the most popular IT investments among Canadian businesses this year, according to the newest research by NordLayer, a network security solution for businesses. The majority of companies (68%) there have in-house cybersecurity specialists to take care of that, while 18% outsource […]

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Purchase of cybersecurity solutions/services/apps (55%), as well as cybersecurity training for employees (51%), are the most popular IT investments among Canadian businesses this year, according to the newest research by NordLayer, a network security solution for businesses. The majority of companies (68%) there have in-house cybersecurity specialists to take care of that, while 18% outsource such.

“IT and cybersecurity budgeting are two different segments of financing. IT covers overall technology investments, including hardware, software, personnel, and cybersecurity. Because cybersecurity is just a fraction of the grand scheme, it explains why budgets can be tight and sometimes even non-existent,” says Carlos Salas, a cybersecurity expert at NordLayer

Additionally, the same research shows that the most prominent cyber attacks in Canada from the last year were phishing (42%), malware (33%), and data breaches (27%). As a result, financial damages vary from losses of up to 5,000 CAD for 45% of companies to over 10,000 CAD for 12% of surveyed Canadian companies. Numbers could be even higher because as much as 15% of companies could not disclose how much they lost due to cyber incidents.

What Cybersecurity Solutions Are Currently In Use Among Canadian Companies?

Research reveals that Canadian companies combine different measures to achieve security. More than 7 out of 10 companies utilize antivirus software (72%). Secure passwords (66%) and file encryption (65%) are the second-highest priority when creating security policies within organizations at the moment. 

Business virtual private networks (VPNs) maintain their popularity in securing organization network connections, with over half (65%) of companies using them. Cyber insurance (43%) is a relatively new solution making its way to business cybersecurity, although its focus is on covering the consequences of an incident rather than preventing it.

A Quarter of Canadian Companies Plan to Allocate up to 24% of Their Organizational Budget for IT Needs in 2023

Spending on cybersecurity solutions, services, and applications will remain a priority (55%) in the 2023 budget. Besides cybersecurity training for employees (51%), Canadian companies will devote slightly less budget to hiring dedicated staff for cybersecurity questions (43%) and external cybersecurity audits (38%).

The research shows that 39% of surveyed companies plan to allocate up to 24% of their organizational budget for IT needs in 2023, and another 37% of respondents plan to invest up to 49% of their budget. Only 4% of companies said they don’t plan to invest in cybersecurity in 2023, out of which the majority are small companies.  

“Business budgeting tendencies show that cybersecurity investments receive only a small part of the allocated IT budget. Cybersecurity funds must be distributed wisely to ensure valuable outcomes, prove the chosen security direction effective, and minimize resources’ waste,“ says Salas.

What Cyberattacks Are Experienced in Small, Medium, and Large Companies?

NordLayer surveyed organizations of various sizes, revealing some similarities and differences between cyberattacks and company size. Speaking of similarities among all sizes, phishing (39%) is the overall most prominent, followed by malware (34%).

Small businesses are more likely to experience identity theft (12%) or data breaches (11%) than insider threats (2%) or social engineering attacks (5%). Also, small businesses experience the lowest number of cyberattacks — 42% of respondents did not face them.

Medium enterprises tend to suffer from malware (43%), social engineering (30%), and insider threats (29%). Compared with the other two categories, medium-sized businesses were exposed most to data breaches (34%) and DDos/DoS attacks (27%).

Large companies experienced the most cyberattacks — as much as 92%. Organizations of such size experience malware (43%) slightly more often than phishing (42%). They experience the same amount of data breaches and identity theft (27%) attacks, while ransomware is the least expected (19%).  

Companies Should Allocate a Budget for Cybersecurity 

The mantra “cybersecurity keeps evolving — so do cyber threats” remains relevant today, emphasizing the need for strengthening business protection measures. Choosing comprehensive cybersecurity tools and solutions helps to achieve the flexibility needed to adapt to dynamic technological and risk change. A sufficient budget is key. 

Salas also shares his tips on securing organizations: “No business is too small to experience a cyberattack. My recommendation for organizations of all sizes is to have a strong cybersecurity strategy. It should have the mindset that every employee is responsible for cybersecurity, not only the IT department. Speaking of concrete tools within the strategy, the company should have cyber mitigation and remediation solutions as well as backup plans for threat scenarios. Also, invest in employee training and dedicated staff for cybersecurity matters.”

Methodology: NordLayer surveyed 500 companies in three countries: the United States, the United Kingdom, and Canada. The external agency SAGO conducted the surveys between March 15 and 25, 2023. Respondents were asked a set of questions about cyber incident costs and allocated budgeting for IT and security in the period of 2022-2023. The samples were taken from non-governmental organizations operating in the services industry, and the target respondents were decision-makers (sole or partial) for IT-related acquisitions. Companies were divided into three main groups regarding size: 1 – 10 employees (small), 11-200 employees (medium), 201+ employees (large). 

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Risks, Threats, and Security Challenges Posed in Moving to the Cloud https://www.sitepronews.com/2023/07/25/risks-threats-and-security-challenges-posed-in-moving-to-the-cloud/ Tue, 25 Jul 2023 04:00:00 +0000 https://www.sitepronews.com/?p=126563 Moving to the cloud has become a common trend for businesses in various industries – and the benefits of cloud computing are undeniable. Cloud migrations typically allow organizations to reduce operational costs, improve scalability and increase the accessibility of data.  However, security is a significant consideration in cloud computing environments, and organizations need to be […]

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Moving to the cloud has become a common trend for businesses in various industries – and the benefits of cloud computing are undeniable. Cloud migrations typically allow organizations to reduce operational costs, improve scalability and increase the accessibility of data. 

However, security is a significant consideration in cloud computing environments, and organizations need to be aware of the risks, threats, and challenges they may face when making the switch. 

Cyber Attacks

Cyber attacks are among the most significant risks associated with operating in the cloud. These attacks disrupt a business’s underlying infrastructure and can substantially impact its reputation.

Cloud environments are a high risk in business settings because they are exposed to the internet with multiple points of entry, making them more vulnerable. Threat actors can use various methods to launch attacks, such as exploiting unpatched vulnerabilities, phishing techniques, or brute-force attacks. 

To mitigate these attacks, businesses should use a defense in depth (DiD) security approach that includes firewalls, intrusion detection systems, and strong passwords.

Insider Risks

Insider risks posed by individuals within an organization who intentionally or unknowingly cause harm to databases, connected systems, or company resources.  Most of these risks are from simple misconfigurations or accepting default settings which tend to mean security is turned off.  Security by design is one thing but we need to move to security by default.  Most employees are focused on getting the job done and they take the easy path which tends to be the highest risk. 

One of the reasons why insider risks pose such a significant risk is that they often have privileged access to sensitive data. Whether it’s because of their job responsibilities or level of authority within the organization, these insiders have dangerous levels of access to company resources.

Moving your company’s operations to the cloud can increase the risks posed by insider threats. Since cloud providers often have multiple customers on the same servers, there is a greater risk of another customer’s data being compromised. 

In addition, cloud providers often have a higher level of trust in their employees than other organizations, which makes it easier for insiders to access sensitive data.

Insecure APIs

APIs (Application Programming Interfaces) are the backbone of cloud computing ecosystems. APIs make it easy for businesses to interact with third-party solutions and cloud service providers. However, while APIs offer increased convenience, they also pose security challenges.

Vulnerabilities like SQL injection, cross-site scripting (XSS), and injection-based attacks are common in insecure APIs. Insecure APIs are a significant threat to businesses because their gateways act as access points to other cloud resources which, when compromised, could result in a catastrophic enterprise-wide data breach.

API misconfiguration occurs when there’s a lack of understanding of how the API works or poor implementation of its security measures. For example, failing to enable authentication, allowing unrestricted access, or not encrypting API requests can leave an organization vulnerable to attack. 

To protect against API misconfiguration, organizations should deploy APIs built on secure and trusted frameworks with proper configuration settings.

Account Hijacking

Account hijacking is when the attacker gains unauthorized access to an account by stealing its credentials. This can be done through various methods, including phishing attacks, malware, social engineering, brute force attacks and even insider threats

The attacker can then use the account to access sensitive information or commit malicious activities such as identity theft or fraud.

One reason why account hijacking is a security challenge in the cloud is that many businesses and their employees use weak passwords that are easy to bypass. This makes it easier for an attacker to gain access to an account. 

Many employees will also use the same password across multiple accounts. If one account is compromised, it can lead to a domino effect, where all other accounts with the same password are accessible.

Compliance and Legal Risks

When businesses migrate to the cloud, they are subject to various legal and compliance risks. These include data privacy laws, intellectual property rights, data localization requirements, and industry-specific regulations.

As companies store and transfer sensitive information through a third-party vendor, data breaches and unauthorized access are always possible. With numerous compliance regulations and data privacy laws in place, ensuring that cloud service providers comply with these regulations can be difficult. 

Companies need to ensure that their cloud service provider has proper security measures in place and is compliant with relevant standards such as HIPAA, GDPR and other regulatory compliance standards.

Advanced Persistent Threats

Advanced persistent threats (APTs) are increasingly common in the cloud. APTs are sophisticated attacks that target specific organizations or individuals over a long period of time, with the attacker often remaining undetected for months or even years.

APTs can be used to steal data, disrupt operations and sabotage systems. Organizations should implement multi-factor authentication to protect against these threats, regularly patch their systems, and monitor activity for suspicious behavior. 

Additionally, organizations should use cloud-based security tools such as Privileged Access Management (PAM) and data loss prevention (DLP) solutions to help detect and mitigate threats in real-time.

Data Loss and Service Downtime

Data loss and downtime are other common risks associated with cloud computing. Data loss can occur due to natural disasters, malicious attacks, or human errors. Downtime typically occurs when there is a disruption in service due to maintenance or an outage on the part of the cloud service provider.

Organizations should ensure that their cloud service providers have adequate measures to prevent data loss and downtime. This includes having a reliable backup system, proper authentication protocols, and real-time monitoring systems.

Additionally, organizations should consider investing in a third-party cloud service provider that offers disaster recovery services to ensure data remains safe even during an outage.

Multi-Tenant Vulnerabilities

Multi-tenant cloud computing can create vulnerabilities that attackers can exploit. Multi-tenancy refers to the practice of multiple users or organizations sharing a single instance of an application or service, which is hosted on the same hardware and managed by the same provider. 

Since all users are on the same network, any security vulnerabilities in one tenant’s environment can potentially be exploited by an attacker to gain access to other tenants’ data. 

To protect against this risk, organizations should ensure that their cloud service provider has adequate security measures, including protected RDP connections, firewalls, encryption, and strong authentication and authorization using solutions such as privileged access management . 

Organizations should also deploy intrusion prevention systems to detect and respond to any malicious activity on their networks.

Limited Visibility and Control

When companies migrate to a cloud-based environment, they lose visibility and control over their data and resources. This can be problematic as organizations may not be aware of any potential security risks or incidents within the cloud platform.

Organizations should ensure that they have adequate monitoring and logging systems in place to detect any suspicious activity or unauthorized access. They should also establish a well-defined policy for cloud security and ensure that their cloud service providers have proper authentication protocols and access controls in place.

Another way to ensure visibility and control over cloud resources is to invest in a third-party security provider that offers secure hosting, monitoring, and reporting services. This will help organizations gain better insight into their cloud environment and help them detect any potential security issues before they become significant problems.

Take Proactive Steps to Minimize Security Risks in the Cloud

The cloud can be a powerful tool for organizations, but it also comes with risks. To protect against these threats, organizations should ensure they deploy the right security measures and invest in cloud-based security solutions. 

By taking the necessary steps to secure their cloud environment, organizations can ensure that their data and resources remain safe while enjoying the benefits of cloud computing.

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Clone Phishing — an Attack that Can Trick Even the Most Cautious Users https://www.sitepronews.com/2023/05/29/clone-phishing-an-attack-that-can-trick-even-the-most-cautious-users/ Mon, 29 May 2023 04:05:00 +0000 https://www.sitepronews.com/?p=126166 Cybersecurity Expert Explains How to More Easily Identify this Kind of Attack A survey by NordVPN showed that 84% of users had experienced social engineering behavior in the past, and more than a third of them have fallen victim to phishing email scams. Experts say that a new type of phishing has started to emerge […]

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Cybersecurity Expert Explains How to More Easily Identify this Kind of Attack

A survey by NordVPN showed that 84% of users had experienced social engineering behavior in the past, and more than a third of them have fallen victim to phishing email scams. Experts say that a new type of phishing has started to emerge recently — clone phishing — which can trick even the most cautious users.

Clone phishing is a scam where a cybercriminal replicates a legitimate email or website to trick the victim into giving personal information. The cloned email looks almost the same as the original and contains legitimate details, making clone phishing more difficult to spot than other phishing attacks.

“Even though users learn and become more cautious every time they experience a cybersecurity issue, criminals don’t make it easy by constantly developing new techniques to target people. Clone phishing attacks take phishing to the next level because the emails are usually highly personalized and replicate something that a victim received in the past,” says Adrianus Warmenhoven, a cybersecurity expert at NordVPN.

How Does Clone Phishing Work?

First, the attacker intercepts a message sent to a user from a legitimate source (e.g., a bank, client support service, money transfer site, or employer). Attackers may use various techniques to intercept emails, including DNS hijacking. A hacker won’t always need to intercept emails to carry out clone phishing attacks. However, if they do, these clone emails become much more difficult to spot because they look just like the original.

After that, a scammer creates a replica of the email and sends it to the victim, urging them to take action. Scammers want their victims to act quickly, so phishing emails always sound urgent. You may see common social engineering tactics like asking users to change their passwords or provide other sensitive data because their account has been “compromised.” It’s also common for clone phishing scams to contain a malicious link that a user can click thinking they’ll access a legitimate website.

The victim opens the email, believing it to be from a legitimate source. They may open an attachment (e.g., a PDF document) that instantly installs malware on their machine and provides cybercriminals access to their sensitive information. Or they may click on a link included in the email and are redirected to a malicious site, allowing attackers to steal their information.

How to Prevent Clone Phishing Attacks

“Spotting clone phishing attacks can be tricky, especially if the scammers have a lot of experience in creating cloned emails. However, you can take several steps to reduce the likelihood of falling victim to this social engineering attack,” says Adrianus Warmenhoven and provides a list of tips that can help users avoid being affected by clone phishing emails.

  • Check the sender’s email address. Before you click anything or reply to the email, make sure the sender’s email address is legitimate. Clone phishing attempts often come from email addresses that resemble the original. However, they may have additional full stops, dashes, symbols, or other subtle differences. Check the sender’s email address carefully to ensure it’s from a legitimate source.
  • Don’t click on links. Avoid clicking on links unless you’re absolutely sure the email isn’t a scam. The email may contain links that redirect you to a malicious website where scammers can steal your personal information. Only click on links and buttons after you’ve confirmed that the email is safe.
  • Use spam filters. Spam filters are helpful if you receive a lot of emails daily. These filters analyze the content of every email and identify unwanted or dangerous messages. While they won’t always spot a cloned email, using them in addition to other measures is a good idea.

“Clone phishing emails are not dangerous until you click the links or files they include. So the general recommendation is not to rush into trusting everything you read in your email inbox. It is always safer to double-check with the company that is emailing you and contact them by phone before you provide any personal information or click on the links in your emails,” says Adrianus Warmenhoven.

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Yes, Your Phone is Eavesdropping on You – and Most Americans Don’t Know How to Stop It https://www.sitepronews.com/2023/05/15/yes-your-phone-is-eavesdropping-on-you-and-most-americans-dont-know-how-to-stop-it/ Mon, 15 May 2023 04:05:00 +0000 https://www.sitepronews.com/?p=126105 Study by NordVPN reveals majority of American consumers in the dark on sonic snooping by devices Half of Americans (53%) say they have seen an ad for a product or service pop up on their phones soon after talking about it or watching it on TV, new research by cybersecurity company NordVPN reveals. Two in […]

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Study by NordVPN reveals majority of American consumers in the dark on sonic snooping by devices

Half of Americans (53%) say they have seen an ad for a product or service pop up on their phones soon after talking about it or watching it on TV, new research by cybersecurity company NordVPN reveals.

Two in four (50%) consumers admit they have no idea how to prevent this from happening and one in ten (10%) who noticed the adverts said it scared them.

Rather than devices reading your mind, this personalised product placement is due to a type of data monitoring called ultrasonic cross-device tracking. This is where apps on your smartphone listen in to background noise — including conversations — to gather more information about you.

“Later, they share this data across other devices,” says Adrianus Warmenhoven, a cybersecurity advisor at NordVPN.

Smartphones were by far the most common place to find these tailored ads. Four in five (77%) Americans who recognised the phenomenon first spotted it on their handset, with half (52%) seeing it on their computer and a fourth (39%) on their tablet.

Information showing people’s behaviour across devices is extremely valuable to companies, but this type of tracking is controversial because of its lack of transparency and security concerns around consumers’ data.

A key part of cross-device tracking is the use of audio beacons, which are embedded into ultrasound — frequencies above the level that can be heard by humans — and can connect with the microphone on our devices without us knowing. This is one reason many apps ask for permission to access your smartphone’s microphone, even if they don’t involve using your voice.

“While it’s impossible to stop the ultrasonic beacons working, you can reduce the chance of your smartphone listening for them by simply restricting unnecessary permissions you have granted to the apps on your device,” says Warmenhoven.

Ultrasonic Cross-device Tracking — How Does It Work?

Ultrasonic cross-device tracking is used as a method to link all the devices you own to track your behavior and location. These ultrasonic audio beacons can be embedded in many things we interact with daily: TV shows, online videos or websites, or apps on our phones.

Imagine you are watching TV and you see chocolate being advertised. You pick up your phone, and the same chocolate ad appears on your screen. By using ultrasounds, audio beacons can detect when your phone is nearby, and apps on your phone can listen for approximate audio beacons to track what you are doing.

How Can You Reduce Cross-device Tracking?

NordVPN cybersecurity advisor Adrianus Warmenhoven has some top tips to keep snooping devices at bay:

  • Change app permissions. The apps on your smartphone may have some permissions that are not required. For instance, why would a photo-editing app need access to your microphone? If apps on your phone have such non-required permissions, you should revoke these permissions. Apple now requires apps to ask your permission before tracking you or your iPhone across websites or apps owned by other companies, and you can turn this off for all apps. All changes to app permissions can usually be done in the privacy settings on your device.
  • Use a private browser. If you want to keep yourself from tracking, it is best to use a private browser like Tor or DuckDuckGo rather than the incognito mode in Google Chrome. These browsers do not profile you or save any of your personal data for sharing with marketers.
  • Use a VPN. One of the best ways to protect yourself from being tracked is by using a VPN. A VPN is a tool that encrypts every bit of information about your internet activity. It also stops IP-based tracking because it masks your IP address.

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Top 10 Mobile Security Threats You Should Look Out For https://www.sitepronews.com/2023/05/09/top-10-mobile-security-threats-you-should-look-out-for/ Tue, 09 May 2023 04:00:00 +0000 https://www.sitepronews.com/?p=126042 Mobile security threats have become a real concern in the present day. With mobile devices becoming increasingly powerful and more widely used, they are also becoming more susceptible to security threats. As such, it’s essential to stay informed about the different types of threats and take steps to protect yourself. Here are the top 10 […]

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Mobile security threats have become a real concern in the present day. With mobile devices becoming increasingly powerful and more widely used, they are also becoming more susceptible to security threats.

As such, it’s essential to stay informed about the different types of threats and take steps to protect yourself. Here are the top 10 mobile security threats that you should look out for and how you can avoid them:

1. Malware

Malware, or malicious software, is a threat to both PCs and mobile devices. It can be spread through downloads, emails, text messages, and web browsing. Malware can steal personal information or damage your device.

Malware works by exploiting security vulnerabilities in the device. It can take complete control and steal data or cause damage when it has access to a device. As such, you must equip your device with security tools to protect it from this threat. 

2. Spyware

Spyware is a type of malware that tracks your activity and collects personal information. It can track your location, monitor SMS messages, and even record phone conversations. Like malware, spyware can be spread through downloads, emails, text messages, and web browsing.

When spyware gets on your mobile device, it can send the information it collects back to the attacker. It will see all your activity and can use this to steal your identity or money.

3. Phishing

Phishing is an attack that attempts to steal sensitive information such as usernames, passwords, and bank account details by pretending to be a legitimate source. It can also be spread through emails, text messages, and web links.

When users click on the link or download an attachment, they are taken to a fraudulent website where they are asked to enter their personal information. The attackers then use this information for malicious purposes.

4. Ransomware

Ransomware is a type of malware that locks down a device and demands payment in order to unlock it. Once on the device, ransomware can take full control and restrict access to data and settings.

To prevent ransomware, users should always keep their systems and software up to date. You can also install anti-virus software, as well as firewalls and other security measures.

5. Adware

Adware is a type of malware that shows unwanted advertisements on your device. Ads displayed by the adware can be intrusive and lead to other malicious websites or downloads.

To avoid getting infected, it’s important to download apps only from reputable sources. Also, be careful when clicking on links in emails or text messages. These links may lead to malicious websites that can install adware on your device.

6. WiFi Attacks

WiFi networks are susceptible to various attacks, such as man-in-the-middle attacks, where an attacker intercepts communications between two devices. It can be used to steal passwords and other sensitive information.

Public WiFi networks usually lack encryption, making them even more vulnerable to attacks. It’s important to only connect to secure networks or use a virtual private network (VPN) when connecting to public WiFi networks.

7. Data Leakage

Data leakage occurs when sensitive information is unintentionally exposed.Human error, insecure coding practices, or malicious attacks can cause it. When data is leaked, it can be used for malicious purposes such as identity theft or financial fraud.

8. Mobile Device Theft

Mobile device theft is a growing problem, as many people carry their devices everywhere they go. An attacker can use stolen mobile devices to access personal information and financial accounts. This can be especially dangerous if the device is not password protected or doesn’t have biometric security enabled.

To prevent theft-related problems, always secure mobile devices with a passcode and use biometric security whenever possible. If a device is lost or stolen, it should be reported immediately so service can be suspended.

9. Unsecure Apps

Attackers can use unsecured applications to steal personal information or gain access to other parts of the device. Make sure you only download apps from official app stores and regularly check for updates that may contain security patches.

If you’re not sure about the security of an app, it’s best to avoid downloading it. This will help you avoid any problems caused by malicious apps. You should also check whether the app can access your personal information, such as contacts, photos, or device location. Limiting access to only the information necessary for the app’s functionality is best to avoid security threats.

10. Outdated Operating Systems

Outdated operating systems are vulnerable to various attacks as they lack the latest security patches. It’s important to keep your device’s operating system up-to-date to protect against the latest threats.

Developers update operating systems with the latest security patches. This means new operating systems will have the latest security measures to keep your device safe.

The Bottom Line

It’s important to be aware of the various security risks and threats that exist to protect your devices and data. Be sure to regularly check for updates for all your apps and operating systems, practice safe browsing habits, and only download apps from reputable sources.

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