As global organizations grapple with COVID -19 pandemic and the economic uncertainty arising from lockdown, IT security is becoming increasingly a matter of concern. The Security and Risk Management (SRM) pros are on their toes to strengthen their organizations’ digital resilience to combat unexpected disruptions in the business process. Any cyber attack or insider mischief with sensitive data could seriously hurt any organization at a time when employees, vendors, and contractors are remotely accessing systems. ARCON believes that organizations will have to revisit their cybersecurity policies so that the current crisis does not aggravate economic and business continuity challenges. Here are the high priority areas that every organization should look at to mitigate IT security risks.
About the Bill
The Government of India has proposed and introduced the draft of the Personal Data Protection (PDP) Bill to the Joint Parliamentary Committee in the Lok Sabha recently. This bill is going to be the Government of India’s another milestone in cyber security space after “Digital India” drive a couple of years back. Previously, this bill was introduced in 2018 by SriKrishna Committee, defining the importance of personal data and its sensitivity. These data include financial data, biometric data, intersex/ transgender status and official government identifiers (like PAN card).
As we are preparing to bid adieu to 2019, let us see how our prediction at the beginning of the year got proved to be accurate. In one of our blogs, we discussed that managing data in shared and distributed environment, migrating data to the cloud environment, hosting data in MSP environment and compliance with regulatory standards would demand robust Privileged Access Management (PAM). Several incidents round the year showed how organizations still lack a stringent cyber security policy and safeguards to mitigate data breach threat. These incidents re-emphasize why today’s enterprises require a PAM to mitigate risks arising from malicious insiders or external malefactors.
In a continuously evolving technological landscape, global organizations are coming across new challenges to store and protect a huge amount of business data generated every day. While data being the core of any business, it plays the most important role in maintaining business continuity in any industry. While many organizations go all the way to protect tons of data generated every day, few are partially concerned about the security and the remaining stay least bothered about the security of their data assets.
While organizations have started giving utmost importance to cyber security and have started allotting handsome budget for saving their digital assets, cyber crooks are getting smarter and giving birth to more sophisticated attack techniques. Today, suspicious insiders are giving more nightmare to the IT security officers rather than outsiders. According to the latest research, organizations cough up to $8 million annually as a price paid for the damages done by malicious insiders.
With Facebook admitting recently that the data available online of its 2 billion users are mostly vulnerable, recent reports affirmed that a quarter of a billion accounts were compromised. Later on, Facebook CEO Mark Zuckerberg made history by testifying before the US Congress about the data leakage. People realizing the importance of data safety reaches a different level thereafter.
Who would have thought about a decade ago that digital revolution could completely transform the way organizations conduct routine operations?
From large retailers analyzing and predicting customers’ purchasing decisions to supply chain firms adopting ‘smart’ technologies to ensure quality controls, disruptive technologies such as big data analytics and the IOTs have enabled firms to capture and effectively use the vital statistics in a real-time.
We have been touring across the world since the beginning of the year, participating in several IT security events. While our main goal is to educate organizations–amid rising cybercrime– to reinforce their information systems by adapting to our risk-management solutions, we are also meeting with Chief Information officers (CIOs), Chief Information Security Officers (CISOs), and audit and compliance officers.
One-to-one meetings help us in understanding IT security needs. As an IT security provider, however, we must tell you that it is very heartening to find that organizations across all industries, have shown increased awareness towards cyber-security.
is data like water?
Data like water is an interesting analogy, It was only during one of my vacations that along a beach, i realized how the two are really similar and especially in the world of technology how data flow is akin to water flow. This paper tries to establish similarities, one’s ability to capture and track source. Further how identities are critical and how data can be tagged to various users. Also it is critical to examine the storage and linkages to the identities under which data is stored.
how important is data
Summary: How the Carbanak hacker’s group stole a billion dollars without getting caught and what we
learn from it.
The financial world and the security industry have been rocked by the recent report from Kaspersky about the cyber-criminals that have stolen more than $1 Billion from global banks through cyber-attacks. The initial reports link the attacks to a multinational criminal group, and highlight the use of sophisticated malware, dubbed Carbanak.