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The Evolution of Access Management & the End of MFA & SSO

Traditionally, technologies like Multi-Factor Authentication (MFA) and Single Sign-On (SSO) have been hailed as robust solutions to secure access. However, as cyber threats grow in complexity, these ubiquitous technologies reveal their flaws, prompting a significant evolution towards more comprehensive, identity, device, and risk-centric approaches.

The Limitations of MFA and SSO

Multi-Factor Authentication (MFA) has long been championed as a superior security measure, combining something you know (password), something you have (token), and something you are (biometrics). However, MFA is not foolproof. Cybercriminals have developed sophisticated methods to bypass MFA, such as phishing attacks that intercept one-time passwords (OTPs) or social engineering tactics that manipulate users into revealing their second factors. Furthermore, the usability of MFA can be cumbersome, leading to user resistance and potential security workarounds.

Single Sign-On (SSO), on the other hand, streamlines the user experience by allowing access to multiple applications with one set of credentials. While convenient, SSO presents a single point of failure. If an attacker compromises the SSO credentials, they gain unfettered access to all linked applications. This can lead to devastating breaches, as seen in several high-profile incidents.

The Shift to Identity-Centric Access

Recognizing the limitations of traditional methods, the cybersecurity community is pivoting towards more sophisticated, identity-centric approaches. Identity-centric access management revolves around the principle that access decisions should be based on the identity of the user, their role within the organization, and their behavior patterns.

Behavioral Analytics: By leveraging machine learning and artificial intelligence, organizations can analyze user behavior to detect anomalies. For example, if an employee typically logs in from New York but suddenly accesses the network from Europe, this discrepancy can trigger an alert or additional authentication requirements. This dynamic approach helps in identifying potential threats in real-time, enhancing security beyond static MFA and SSO measures.

Zero Trust Architecture: The Zero Trust model operates on the premise that no user or device should be inherently trusted, whether inside or outside the network. Every access request is meticulously verified, and users are granted the minimum necessary access for their roles. This reduces the risk of lateral movement within the network if credentials are compromised. Implementing Zero Trust requires continuous monitoring and validation of identities, ensuring that access decisions are always context-aware and risk-based.

Device-Centric Access: Emphasizing Endpoint Security

In addition to focusing on user identity, modern access management also places significant emphasis on the devices used to access corporate resources. The proliferation of remote work and BYOD (Bring Your Own Device) policies necessitates a comprehensive approach to endpoint security.

Device Posture Assessment: Ensuring that devices comply with corporate security policies is crucial. This involves checking for up-to-date operating systems, antivirus software, and encryption measures. Devices that do not meet these standards can be denied access or granted limited access until they comply. This approach minimizes the risk of compromised devices becoming vectors for attacks.

Mobile Device Management (MDM): MDM solutions allow organizations to enforce security policies on mobile devices, ensuring that they are properly configured and managed. Features such as remote wipe and device tracking enhance security, especially for lost or stolen devices. By integrating MDM with access management systems, organizations can create a seamless, secure environment for all endpoints.

Risk-Centric Access: Adaptive and Context-Aware

The evolution of access management also involves a shift towards risk-centric models, where access decisions are adaptive and context-aware. This approach ensures that security measures dynamically adjust based on the assessed risk level of each access request.

Risk-Based Authentication (RBA): RBA evaluates the risk associated with each login attempt based on factors such as location, device type, and user behavior. High-risk logins may require additional authentication steps, while low-risk logins can proceed with minimal friction. This balance enhances security without compromising user experience.

Context-Aware Policies: These policies take into account various contextual factors, such as the time of day, the sensitivity of the requested resource, and historical access patterns. For instance, accessing sensitive financial data from an unusual location or outside business hours might prompt additional verification. This granularity ensures that security measures are precisely tailored to the context of each access attempt.

The Future of Access Management

As cyber threats continue to evolve, access management must also advance to stay ahead. The future lies in integrating these identity, device, and risk-centric approaches into a cohesive strategy that adapts to emerging challenges.

Artificial Intelligence and Machine Learning: AI and ML will play increasingly vital roles in access management. These technologies can analyze vast amounts of data to identify patterns and predict potential threats. By continuously learning and adapting, AI-driven systems can enhance the precision and effectiveness of access controls.

Decentralized Identity: Blockchain technology offers the potential for decentralized identity management, where users have control over their digital identities. This can reduce the reliance on centralized systems, which are attractive targets for attackers. Decentralized identity solutions can provide more secure and privacy-preserving ways to manage access.

Collaboration and Information Sharing: The cybersecurity community must collaborate and share information about emerging threats and best practices. Industry standards and frameworks, such as those developed by NIST and ISO, provide valuable guidelines for implementing robust access management strategies.

The evolution of access management in cybersecurity is a response to the growing sophistication of cyber threats. Moving beyond traditional MFA and SSO, modern approaches emphasize identity, device, and risk-centric models. By leveraging advanced technologies and continuously adapting to new challenges, organizations can enhance their security posture and protect their critical assets in an increasingly complex digital landscape. As we look to the future, the integration of AI, decentralized identity, and collaborative efforts will be key to developing resilient access management solutions.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Portnox
Portnox provides simple-to-deploy, operate and maintain network access control, security and visibility solutions. Portnox software can be deployed on-premises, as a cloud-delivered service, or in hybrid mode. It is agentless and vendor-agnostic, allowing organizations to maximize their existing network and cybersecurity investments. Hundreds of enterprises around the world rely on Portnox for network visibility, cybersecurity policy enforcement and regulatory compliance. The company has been recognized for its innovations by Info Security Products Guide, Cyber Security Excellence Awards, IoT Innovator Awards, Computing Security Awards, Best of Interop ITX and Cyber Defense Magazine. Portnox has offices in the U.S., Europe and Asia. For information visit http://www.portnox.com, and follow us on Twitter and LinkedIn.。

Greener backup services with efficient code

The following is an abridged version of my recent article, “Tapping the potential of code for greener backup services,” which is published, in full, with Computer Weekly.

The language of sustainability 

Sustainability goes beyond green energy; it includes building efficient, reliable, and adaptable systems. Using C++ as the primary programming language enables the development of storage systems that minimize resource usage while maximizing performance and reliability.

Efficient architecture and programming 

Sustainability is about optimizing efficiency at every operational level to minimize resource consumption while maximizing performance and profitability. C++ helps create sustainable, scalable architectures, reducing environmental impact and avoiding legacy inefficiencies.

Purpose-built architecture 

The key to sustainable data management is purpose-built architecture, tailored to address storage challenges efficiently. Deduplication, eliminating redundant data, is crucial. This approach streamlines operations, reduces complexity, and lowers resource consumption compared to virtual machines provided by third-party platforms.

Choosing efficient programming languages 

Efficiency extends to programming languages. C++, known for its performance and low resource utilization, can yield significant energy savings compared to resource-intensive languages. Its versatility, low-level access to system resources, and support for high-level abstractions make it ideal for developing efficient and scalable software.

Avoiding legacy inefficiencies 

Legacy systems introduce complexity and inefficiencies, increasing costs and energy consumption. By maintaining full ownership and control of the technology stack, companies can streamline operations and minimize resource overhead, prioritizing lean, purpose-built architectures that deliver long-term benefits.

Performance as a priority 

Optimizing resource usage is essential for long-term sustainability, especially with the increasing volume of data. Meticulous design of storage architecture and code optimization are necessary. Off-the-shelf solutions may offer quick fixes, but efficient code is crucial for addressing core issues sustainably.

The impact of code on sustainability and cost 

Adopting sustainable practices in architecture design and programming languages reduces energy consumption, predicts costs, and simplifies compliance. Techniques like incremental backup and deduplication enhance efficiency, sustainability, and profitability. C++ enables the creation of resource-efficient, fast, and environmentally sustainable storage systems.

Conclusion 

Prioritizing responsible resource consumption and operational efficiency allows technology companies to lead in environmental stewardship without compromising profitability. By integrating sustainable practices, we can foster a more environmentally conscious tech industry for future generations. 

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Keepit
At Keepit, we believe in a digital future where all software is delivered as a service. Keepit’s mission is to protect data in the cloud Keepit is a software company specializing in Cloud-to-Cloud data backup and recovery. Deriving from +20 year experience in building best-in-class data protection and hosting services, Keepit is pioneering the way to secure and protect cloud data at scale.

Amid Warren Buffet’s Dire Warning: Why Cyber Insurance is Crucial for SMBs

Key Takeaways:

  • Cyber Threats on the Rise: Small and medium businesses, are increasingly targeted by cyberattacks, making cyber insurance essential.
  • Widespread Underinsurance: Despite the rising risks, many SMBs remain underinsured or not insured at all against cyber threats.
  • Guardz’s Pioneering Solution: Guardz has launched a new offering to help secure and insure small & medium businesses against growing cybersecurity threats, making insurance accessible to previously ineligible companies.

In today’s digital world, the importance of cybersecurity cannot be overstated. Businesses of all sizes face increasingly sophisticated and frequent cyberattacks. SMBs are particularly vulnerable due to limited resources and inadequate cybersecurity measures. Despite the clear risks, many of these businesses are not adequately insured against cyber threats, leaving them exposed to potentially catastrophic losses.

Warren Buffett’s Warning: Huge Losses Looming

A stark reminder of this issue comes from Warren Buffett, who recently expressed his concerns about huge losses in the booming insurance market. In a CNBC article, it was reported that at an annual shareholder meeting, Buffett highlighted the significant financial impact of cyberattacks and the urgent need for businesses to protect themselves through comprehensive insurance policies. His warning underscores the necessity for MSPs to re-evaluate their cybersecurity strategies and ensure they have robust cyber insurance coverage to provide the adequate protection to their SMB clients.

The Rising Threat of Cyberattacks

Cybercriminals are increasingly targeting SMBs because they often have weaker security infrastructures compared to larger corporations. According to a report by the Ponemon Institute, the average cost of a data breach for SMBs is $3.9 million, a figure that can be devastating for smaller enterprises. Additionally, 60% of small businesses go out of business within six months of a cyberattack. These statistics highlight the severe financial losses, data breaches, and reputational damage that can result from a cyberattack. Businesses face legal liabilities, regulatory fines, and the costly process of restoring their operations, all of which underscore the critical need for cyber insurance.

Widespread Underinsurance

Despite the clear and present dangers, many SMBs are underinsured or not insured at all against cyber threats. The Hiscox Cyber Readiness Report 2023 found that 64% of small businesses lack cyber insurance. This lack of coverage can be attributed to several factors, including a lack of awareness about the risks, perceived high costs of insurance premiums, and a misconception that cyberattacks are only a concern for large corporations. However, the reality is that cyberattacks can affect any business, regardless of its size, and the financial fallout can be crippling.

The Role of Cyber Insurance

Cyber insurance plays a crucial role in mitigating the financial impact of cyberattacks. It provides businesses with the necessary coverage to recover from data breaches, ransomware attacks, and other cyber incidents. A comprehensive cyber insurance policy can cover various costs, including legal fees, customer notification expenses, and the cost of restoring compromised data. Additionally, cyber insurance can help businesses demonstrate compliance with regulatory requirements and build trust with their customers by showing that they are taking proactive steps to protect sensitive information.

The Challenge for SMBs

For SMBs, the challenge lies in finding the right cyber insurance policy that meets their specific needs and budget constraints. The National Cyber Security Alliance reports that 88% of small business owners feel their business is vulnerable to a cyberattack, yet many smaller businesses find it daunting to navigate the complex landscape of cyber insurance options. However, the cost of not having adequate insurance far outweighs the premiums paid for comprehensive coverage.

Guardz: A Pioneering Solution for Cyber Insuring Previously Ineligible SMBs

Recognizing the urgent need for accessible and effective cyber insurance solutions, Guardz has recently launched a pioneering offering specifically designed for SMBs. Guardz’s solution not only helps businesses secure their digital assets but also provides the necessary insurance coverage to protect against the financial fallout of cyber incidents. What sets Guardz apart is its focus on making insurance accessible to businesses that were previously ineligible due to inadequate cybersecurity measures.

Guardz’s new offering addresses the unique challenges faced by SMBs in today’s cyber threat landscape. The solution includes robust cybersecurity measures to prevent attacks and insurance coverage to mitigate the financial impact if an incident occurs. By implementing Guardz’s security solution, SMBs can meet the criteria required for cyber insurance, which was previously unattainable for many.

For more information about Guardz’s innovative solution, visit our insurance page.

Conclusion

The increasing frequency and sophistication of cyberattacks make it imperative for MSPs to invest in robust cybersecurity measures and comprehensive cyber insurance. Warren Buffett’s concerns about huge losses in the insurance market serve as a stark reminder of the financial risks posed by cyber threats. By securing adequate insurance coverage, businesses can protect themselves against the potentially devastating consequences of cyber incidents and ensure their long-term resilience and success. Guardz’s pioneering solution offers a lifeline to previously ineligible businesses, helping them secure their digital assets and obtain crucial insurance coverage.

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About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Guardz
Guardz is on a mission to create a safer digital world by empowering Managed Service Providers (MSPs). Their goal is to proactively secure and insure Small and Medium Enterprises (SMEs) against ever-evolving threats while simultaneously creating new revenue streams, all on one unified platform.

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ESET Threat Report: Infostealers using AI & banking malware creating deepfake videos to steal money

  • ESET has released its latest Threat Report, which summarizes threat landscape trends seen in ESET telemetry and from the perspective of ESET experts, from December 2023 through May 2024.
  • Infostealers started to impersonate generative AI tools such as Midjourney, Sora, and Gemini. 
  • New mobile malware GoldPickaxe is capable of stealing facial recognition data to create deepfake videos.
  • RedLine Stealer saw several detection spikes in ESET H1 2024 telemetry, caused by campaigns in Spain, Japan and Germany.
  • Balada Injector, a gang notorious for exploiting WordPress plugin vulnerabilities, continued to run rampant in the first half of 2024, compromising over 20,000 websites as ESET telemetry detected 400,000 hits.

BRATISLAVA — June 27, 2024 — ESET has released its latest Threat Report, which summarizes threat landscape trends seen in ESET telemetry and from the perspective of both ESET threat detection and research experts, from December 2023 through May 2024. These past six months painted a dynamic landscape of Android financial threats, malware going after victims’ mobile banking funds – be they in the form of “traditional” banking malware or, more recently, cryptostealers. Infostealing malware can now be found impersonating generative AI tools, and new mobile malware GoldPickaxe is capable of stealing facial recognition data to create deepfake videos used by the malware’s operators to authenticate fraudulent financial transactions. Video games and cheating tools used in online multiplayer games were recently found to contain infostealer malware such as the RedLine Stealer, which saw several detection spikes in H1 2024 in ESET telemetry.

“GoldPickaxe has both Android and iOS versions and has been targeting victims in Southeast Asia through localized malicious apps. As ESET researchers investigated this malware family, they discovered that an older Android sibling of GoldPickaxe, called GoldDiggerPlus, has also tunneled its way to Latin America and South Africa by actively targeting victims in these regions,” explains Jiří Kropáč, Director of ESET Threat Detection.

In recent months Infostealing malware also began to utilize the impersonation of generative AI tools. In H1 2024, Rilide Stealer was spotted misusing the names of generative AI assistants, such as OpenAI’s Sora and Google’s Gemini, to entice potential victims. In another malicious campaign, the Vidar infostealer was lurking behind a supposed Windows desktop app for AI image generator Midjourney – even though Midjourney’s AI model is only accessible via Discord. Since 2023, ESET Research has increasingly seen cybercriminals abusing the AI theme – a trend that is expected to continue.

Gaming enthusiasts who ventured out of the official gaming ecosystem were attacked by infostealers, as some cracked video games and cheating tools used in online multiplayer games were recently found to contain infostealer malware such as Lumma Stealer and RedLine Stealer. RedLine Stealer saw several detection spikes in H1 2024 in ESET telemetry, caused by campaigns in Spain, Japan, and Germany. Its recent waves were so significant that RedLine Stealer detections in H1 2024 surpassed those from H2 2023 by a third.

Balada Injector, a gang notorious for exploiting WordPress plug-in vulnerabilities, continued to run rampant in the first half of 2024, compromising over 20,000 websites and racking up over 400,000 hits in ESET telemetry for the variants used in the gang’s recent campaign. On the ransomware scene, former leading player LockBit was knocked off its pedestal by Operation Chronos, a global disruption conducted by law enforcement in February 2024. Although ESET telemetry recorded two notable LockBit campaigns in H1 2024, these were found to be the result of non-LockBit gangs using the leaked LockBit builder.

The ESET Threat Report features news about recently released deep-dive investigation into one of the most advanced server-side malware campaigns, which is still growing – Ebury group, with their malware and botnet. Over the years, Ebury has been deployed as a backdoor to compromise almost 400,000 Linux, FreeBSD, and OpenBSD servers; more than 100,000 were still compromised as of late 2023.

For more information, check out the ESET Threat Report H1 2024 on WeLiveSecurity.com. Make sure to follow ESET Research on Twitter (today known as X) for the latest news from ESET Research.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About ESET
For 30 years, ESET® has been developing industry-leading IT security software and services for businesses and consumers worldwide. With solutions ranging from endpoint security to encryption and two-factor authentication, ESET’s high-performing, easy-to-use products give individuals and businesses the peace of mind to enjoy the full potential of their technology. ESET unobtrusively protects and monitors 24/7, updating defenses in real time to keep users safe and businesses running without interruption. Evolving threats require an evolving IT security company. Backed by R&D facilities worldwide, ESET became the first IT security company to earn 100 Virus Bulletin VB100 awards, identifying every single “in-the-wild” malware without interruption since 2003.

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