Data Protection: How prepared are you?

5/5 (2)

5/5 (2)

Last week, the Australia government joined other countries in the Asia Pacific region in highlighting the growth of attack surface in the midst of the COVID-19 pandemic.

In our recently launched study Digital Priorities in the New Normal, we find that 87% of organisations in the Asia Pacific have increased investments in one or more cybersecurity solutions. However, this has to be backed by a reassessment of organisations’ risk positions and a re-evaluation of data protection and compliance policies.Data Protection: Perception and Policies
 


Get more insights on the adoption of key Cybersecurity solutions and investments through our “Market Insights and Vendor Selection” research module which is live and ongoing on the Ecosystm platform.
Get Started


 

1
Preparing Your Organisation Against Cyber Attacks

5/5 (3)

5/5 (3)

Last week, the Australia Government announced that they have been monitoring persistent and increasing volumes of cyber-attacks by a foreign state-based actor on both government and private sector businesses. The Australian Cyber Security Centre (ACSC) reported that most of the attacks make use of existing open-source tools and packages, which ACSC has dubbed as “copy-paste compromises”. The attackers are also using other methods to exploit such as spear phishing, sending malicious files and using various websites to harvest passwords and more, to exploit systems.
Cybercrime has been escalating in other parts of the world as well. The World Health Organisation (WHO) witnessed a dramatic increase in cyber-attacks directed with scammers impersonating WHO personnel’s official emails targeting the public. The National Cyber Security Centre (NCSC) in the UK alerted the country’s educational institutions and scientific facilities on increased cyber-attacks attempting to steal research associated with the coronavirus. Earlier this month, the Singapore Computer Emergency Response Team (SingCERT) issued an advisory on potential phishing campaigns targeting six countries, including Singapore that exploit government support initiatives for businesses and individuals in the wake of the COVID-19 crisis.
Such announcements are a timely reminder to government agencies and private organisations to implement the right cybersecurity measures against the backdrop of an increased attack surface. These cyber attacks can have business impacts such as theft of business data and destruction or impairment to financial data, creating extended business interruptions. The ramifications can be far-reaching including financial and reputational loss, compliance breaches and potentially even legal action.

A Rise in Spear-Phishing

In Australia, we’re seeing attackers targeting internet-facing infrastructure relating to vulnerabilities in Citrix, Windows IIS web server, Microsoft Sharepoint, and Telerik UI.
Where these attacks fail, they are moving to spear-phishing attacks. Spear phishing is most commonly an email or SMS scam targeted towards a specific individual or organisation but can be delivered to a target via any number of electronic communication mediums. In the spear-phishing emails, the attacker attaches files or includes links to a variety of destinations that include:

  • Credential harvesting sites. These genuine-looking but fake web sites prompt targets to enter username and password. Once the gullible target provides the credentials, these are then stored in the attackers’ database and are used to launch credential-based attacks against the organisation’s IT infrastructure and applications.
  • Malicious files. These file attachments to emails look legitimate but once downloaded, they execute a malicious malware on the target device. Common file types are .doc, .docx, .xls, .xlsx, .ppt, .pptx, .jpg, .jpeg, .gif, .mpg, .mp4, .wav
  • OAuth Token Theft. OAuth is commonly used on the internet to authenticate a user to a wide variety of other platforms. This attack technique uses OAuth tokens generated by a platform and shares with other platforms. An example of this is a website that asks users to authenticate using their Facebook or Google accounts in order to use its own services. Faulty implementation of OAuth renders such integration to cyber-attacks.
  • Link Shimming. The technique includes using email tracking services to launch an attack. The attackers send fake emails with valid looking links and images inside, using email tracking services. Once the user receives the email, it tracks the actions related to opening the email and clicking on the links. Such tracking services can reveal when the email was opened, location data, device used, links clicked, and IP addresses used. The links once clicked-on, can in- turn, lead to malicious software being stealthily downloaded on the target system and/or luring the user for credential harvesting.

How do you safeguard against Cyber-Attacks?

The most common vectors for such cyber-attacks are lack of user awareness AND/OR exploitable internet-facing systems and applications. Unpatched or out-of-support internet-facing systems, application or system misconfiguration, inadequate or poorly maintained device security controls and weak threat detection and response programs, compound the threat to your organisation.
Governments across the world are coming up with advisories and guidelines to spread cybersecurity awareness and prevent threats and attacks. ACSC’s Australian Signals Directorates ‘Essential 8’ are effective mitigations for a large majority of present-day attacks. There were also guidelines published earlier this year, specifically with the COVID-19 crisis in mind. The Cyber Security Agency in Singapore (CSA) promotes the ‘Go Safe Online’ campaign that provides regular guidance and best practices on cybersecurity measures.
Ecosystm’s ongoing “Digital Priorities in the New Normal” study evaluates the impact of the COVID-19 pandemic on organisations, and how digital priorities are being initiated or aligned to adapt to the New Normal that has emerged. 41% of organisations in Asia Pacific re-evaluated cybersecurity risks and measures, in the wake of the pandemic. Identity & Access Management (IDAM), Data Security and Threat Analytics & Intelligence saw increased investments in many organisations in the region (Figure 1).Investments in Cybersecurity
However, technology implementation has to be backed by a rigorous process that constantly evaluates the organisation’s risk positions. The following preventive measures will help you address the risks to your organisation:

  • Conduct regular user awareness training on common cyber threats
  • Conduct regular phishing tests to check user awareness level
  • Patch the internet-facing products as recommended by their vendors
  • Establish baseline security standards for applications and systems
  • Apply multi-factor authentication to access critical applications and systems – especially internet-facing and SaaS products widely used in the organisation like O365
  • Follow regular vulnerability scanning and remediation regimes
  • Conduct regular penetration testing on internet-facing applications and systems
  • Apply security settings on endpoints and internet gateways that disallow download and execution of files from unfamiliar sources
  • Maintain an active threat detection and response program that provides for intrusion detection, integrity checks, user and system behaviour monitoring and tools to maintain visibility of potential attacks and incidents – e.g Security Information & Event Monitoring (SIEM) tools
  • Consider managed services such as Managed Threat Detection and Response delivered via security operations (SOC)
  • Maintain a robust incident management program that is reviewed and tested at least annually
  • Maintain a comprehensive backup regime – especially for critical data – including offsite/offline backups, and regular testing of backups for data integrity
  • Restrict and monitor the usage of administrative credentials

 


Get more insights on the adoption of key Cybersecurity solutions and investments through our “Market Insights and Vendor Selection” research module which is live and ongoing on the Ecosystm platform.
Get Started


1
Tech Spotlight for May – Cybersecurity

5/5 (2)

5/5 (2)

In his blog, The Cybercrime Pandemic, Ecosystm Principal Advisor, Andrew Milroy says, “Remote working has reached unprecedented levels as organisations try hard to keep going. This is massively expanding the attack surface for cybercriminals, weakening security and leading to a cybercrime pandemic. Hacking activity and phishing, inspired by the COVID-19 crisis, are growing rapidly.” Remote working has seen an increase in adoption of cloud applications and collaborative tools, and organisations and governments are having to re-think their risk management programs.

We are seeing the market respond to this need and May saw initiatives from governments and enterprises on strengthening risk management practices and standards. Tech vendors have also stepped up their game, strengthening their Cybersecurity offerings.

Market Consolidation through M&As Continues

The Cybersecurity market is extremely fragmented and is ripe for consolidation. The last couple of years has seen some consolidation of the market, especially through acquisitions by larger platform players (wishing to provide an end-to-end solution) and private equity firms (who have a better view of the Cybersecurity start-up ecosystem). Cybersecurity providers continue to acquire niche providers to strengthen their end-to-end offering and respond to market requirements.

As organisations cope with remote working, network security, threat identification and identity and access management are becoming important. CyberArk acquired Identity as a Service provider Idaptive to work on an AI-based identity solution. The acquisition expands its identity management offerings across hybrid and multi-cloud environments. Quick Heal invested in Singapore-based Ray, a start-up specialising in next-gen wireless and network technology. This would benefit Quick Heal in building a safe, secure, and seamless digital experience for users. This investment also shows Quick Heal’s strategy of investing in disruptive technologies to maintain its market presence and to develop a full-fledged integrated solution beneficial for its users.

Another interesting deal was Venafi acquiring Jetstack.  Jetstack’s open-source Kubernetes certificate manager controller – cert-manager – with a thriving developer community of over 200 contributors, has been used by many global organisations as the go-to tool for using certificates in the Kubernetes space. The community has provided feedback through design discussion, user experience reports, code and documentation contributions as well as serving as a source for free community support. The partnership will see Venafi’s Machine Identity Protection having cloud-native capabilities.   The deal came a day after VMware announced its intent to acquire Octarine to extend VMware’s Intrinsic Security Capabilities for Containers and Kubernetes and integrate Octarine’s technology to VMware’s Carbon Black, a security company which VMware bought last year.

Cybersecurity vendors are not the only ones that are acquiring niche Cybersecurity providers. In the wake of a rapid increase in user base and a surge in traffic, that exposed it to cyber-attacks (including the ‘zoombombing’ incidents), Zoom acquired secure messaging service Keybase, a secure messaging and file-sharing service to enhance their security and to build end-to-end encryption capability to strengthen their overall security posture.

Governments actively working on their Cyber Standards

Governments are forging ahead with digital transformation, providing better citizen services and better protection of citizen data.  This has been especially important in the way they have had to manage the COVID-19 crisis – introducing restrictions fast, keeping citizens in the loop and often accessing citizens’ health and location data to contain the disaster. Various security guidelines and initiatives were announced by governments across the globe, to ensure that citizen data was being managed and used securely and to instil trust in citizens so that they would be willing to share their data.

Singapore, following its Smart Nation initiative, introduced a set of enhanced data security measures for public sector. There have been a few high-profile data breaches (especially in the public healthcare sector) in the last couple of years and the Government rolled out a common security framework for public agencies and their officials making them all accountable to a common code of practice. Measures include clarifying the roles and responsibilities of public officers involved in managing data security, and mandating that top public sector leadership be accountable for creating a strong organisational data security regime. The Government has also empowered citizens to raise a flag against unauthorised data disclosures through a simple incident report form available on Singapore’s Smart Nation Website.

Australia is also ramping up measures to protect the public sector and the country’s data against threats and breaches by issuing guidelines to Australia’s critical infrastructure providers from cyber-attacks. The Australian Cyber Security Centre (ACSC) especially aims key employees working in services such as power and water distribution networks, and transport and communications grids. In the US agencies such as the Cybersecurity and Infrastructure Security Agency (CISA) and the Department of Energy (DOE) have issued guidelines on safeguarding the country’s critical infrastructure. Similarly, UK’s National Cyber Security Centre (NCSC) issued cybersecurity best practices for Industrial Control Systems (ICS).

Cyber Awareness emerges as the need of the hour

While governments will continue to strengthen their Cybersecurity standards, the truth is Cybersecurity breaches often happen because of employee actions – sometimes deliberate, but often out of unawareness of the risks. As remote working becomes a norm for more organisations, there is a need for greater awareness amongst employees and Cybersecurity caution should become part of the organisational culture.

Comtech received a US$8.4 million in additional orders from the US Federal Government for a Joint Cyber Analysis Course. The company has been providing cyber-training to government agencies in the communications sector. Another public-private partnership to raise awareness on Cybersecurity announced in May was the MoU between Europol’s European Cybercrime Centre (EC3) and Capgemini Netherlands. With this MoU, Capgemini and Europol are collaborating on activities such as the development of cyber simulation exercises, capacity building, and prevention and awareness campaigns. They are also partnered on a No More Ransomware project by National High Tech Crime Unit of the Netherlands’ Police, Kaspersky and McAfee to help victims fight against ransomware threats.

The Industry continues to gear up for the Future

Technology providers, including Cybersecurity vendors, continue to evolve their offerings and several innovations were reported in May. Futuristic initiatives such as these show that technology vendors are aware of the acute need to build AI-based cyber solutions to stay ahead of cybercriminals.

Samsung introduced a new secure element (SE) Cybersecurity chip to protect mobile devices against security threats. The chip received an Evaluation Assurance Level (EAL) 6+ certification from CC EAL – a technology security evaluation agency which certifies IT products security on a scale of EAL0 to EAL7. Further applications of the chip could include securing e-passports, crypto hardware wallets and mobile devices based on standalone hardware-level security. Samsung also introduced a new smartphone in which Samsung is using a chipset from SK Telecom with quantum-crypto technology. This involves Quantum Random Number Generator (QRNG) to enhance the security of applications and services instead of using normal random number generators. The technology uses LED and CMOS sensor to capture quantum randomness and produce unpredictable strings and patterns which are difficult to hack. This is in line with what we are seeing in the findings of an Ecosystm business pulse study to gauge how organisations are prioritising their IT investments to adapt to the New Normal. 36% of organisations in the Asia Pacific region invested significantly in Mobile Security is a response to the COVID-19 crisis.

The same study reveals that nearly 40% of organisations in the region have also increased investments in Threat Analysis & Intelligence. At the Southern Methodist University in Texas, engineers at Darwin Deason Institute for Cybersecurity have created a software to detect and prevent ransomware threats before they can occur. Their detection method known as sensor-based ransomware detection can even spot new ransomware attacks and terminates the encryption process without relying on the signature of past infections. The university has filed a patent for this technique with the US Patent and Trademark Office.

Microsoft and Intel are working on a project called STAMINA (static malware-as-image network analysis). The project involves a new deep learning approach that converts malware into grayscale images to scan the text and structural patterns specific to malware. This works by converting a file’s binary form into a stream of raw pixel data (1D) which is later converted into a photo (2D) to feed into image analysis algorithms based on a pre-trained deep neural network to scan and classify images as clean or infected.

 


More data on organisations’ Cybersecurity priorities and investments is available here ?
Get Started


1
Awareness of Personal Cyber Attacks

5/5 (1)

5/5 (1)

The NCSC’s first ‘UK cyber survey’ published alongside global password risk list. The UK government’s cybersecurity organisation National Cyber Security Centre (NCSC) provides cybersecurity support and guidance to the private and public sectors.

The survey identified exploitable gaps in personal level security management. The study was carried out between November 2018 and January 2019 and revealed that 89% of the respondents used the Internet and only 15% acknowledged a greater understanding of personal security measures.

The NCSC also published an analysis of the 100,000 most commonly used passwords that have been accessed by third parties in global cyber breaches. The analysis shows that less than half of the respondents do are not concerned about the strength of passwords for their emails and online accounts. Some examples of commonly used passwords used by people rely on their own names, Premier League football teams, musicians and fictional characters for inspiration.

This general lack of understanding of the cyber world can be harmful to individuals but can be devastating to organisations. A chain is no stronger than its weakest link, and insecure passwords may pose a serious security risk to an organisation. “We rely on passwords in all facets of our online world, so this presents a massive risk to anyone taking short-cuts.  Unfortunately, if organisations are not prepared, and allow the use of similarly insecure passwords, the flow on effect of a breach can escalate rapidly” says Alex Woerndle, Principal Analyst Cybersecurity, Ecosystm “The passwords in the above list are very weak. Even without the knowledge provided in the list, a hacker would be able to crack these passwords in seconds with the right tools. Even password complexity cannot always protect an organisation. What about a user that re-uses a complex password repeatedly, and that password is part of a breach? That puts all of the organisation’s logins at risk”.

There are some additional steps that system administrators and IT professionals need to consider when it comes to securing passwords and managing logins.

The global Ecosytsm Cybersecurity & Data Privacy study found the most common controls organisations implement to manage data access.

Security controls organisations implement to manage data access

“The main step being used currently is ensuring MFA is enabled wherever possible.  While not a perfect solution, it provides a circuit breaker for the most common types of attacks that would get anyone using insecure passwords into trouble” says Woerndle.

The NCSC hopes to reduce the risk of further breaches by building awareness of how attackers use easy-to-guess passwords, or those obtained from breaches and help guide developers and system administrators to protect their users. NCSC has framed guidelines covering multiple aspects of managing and maintaining security on its website.

Ultimately this problem will not go away until we find a genuine replacement for passwords. The pure scale of growth in the number of systems and applications that all users, both at a personal and on a professional level, have access to, makes password management complex and frustrating.  While focusing on how to strengthen your passwords and other easy steps to avoid a cyber attack, may be a good start, it will not be enough, as long as systems and applications are dependent on passwords for better security.


The Changing Shape of Asia’s Cybersecurity Landscape
The latest in our Leaders BreakFirst series. Following the launch of our Cybersecurity and Data Privacy study, Ecosystm is delighted to share the insights from almost 7000 deployments globally.Featuring two of Ecosystm’s cybersecurity and data privacy experts on one stage- Claus Mortensen and Carl Woerndle, this session will highlight the findings from our Cybersecurity & Privacy research.

Register Now

2