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Securelytics Strategic Partnership With TÜV SÜD

TÜV SÜD PSB ENTERS INTO A STRATEGIC PARTNERSHIP WITH SECURELYTICS SND. BHD TO CATER TO CYBERSECURITY REQUIREMENTS OF ELECTRICAL & ELECTRONIC INDUSTRY

Singapore. TÜV SÜD globally has expertise in the cyberthreat landscape and market-specific data regulations that enables customers to release the full potential of their digital future. To further enhance the cyber security portfolio offering to its electrical and electronic customers in Singapore, TÜV SÜD PSB, Singapore has entered into a strategic partnership with Securelytics SDN. BHD. 

The signing ceremony was virtually attended by Mr Richard Hong, CEO, TÜV SÜD ASEAN and Mr Muzamir bin Mohamad, CEO, Securelytics. Also present at the occasion were Datuk Seri Badrul Hisham Bin Abdul Aziz, Chairman, Securelytics; Mr Goh Wee Hong, Senior Vice President, Product Service, TÜV SÜD PSB; and Mr Holger Lindner, CEO, TÜV SÜD Global Product Service Division.

TÜV SÜD ‘s portfolio offering to its electrical and electronic customers now includes Testing, Training, Global Market Access, Common Criteria Evaluation and other IOT related security evaluations. While meeting the current requirements of the customer, the focus of this partnership is to develop competencies to meet the future cyber security and regulatory requirements of the dynamic and fast evolving electrical and electronic industry. 

To know more about our services, please go to https://www.tuvsud.com/en-my/press-and-media/2020/october/tuv-sud-psb-enters-into-a-strategic-partnership-with-securelytics

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Protecting SME from cyber attacks

THE Malaysia Digital Economy Blueprint specifically sets out to map the importance of cybersecurity, listing it under one of the six main thrusts of the blueprint; to build trusted, secure and ethical digital environment.

Cybersecurity sets the foundation from which businesses and enterprises can operate and grow in a safe and secure digital environment.

New working arrangement in the new norm, i.e. working from home, also contributed to a surge in cyber attacks. Most small and medium enterprises (SME) utilise a “Bring Your Own Device” approach, which significantly exposes valuable data and information to cyber attacks, and various malicious forms of intrusion. SME bear the brunt of these attacks.

In 2020, Malaysia recorded 6,512 cybersecurity incidents. In the period between January and May, the number of incidents recorded stood at 4,615, representing an almost one-fold increase in threats and incidents comparatively.

Cyber crimes have also shown an upward trend. According to police statistics, the number of cyber crimes reported in 2019 were 11,875 cases, with RM498 million in terms of losses. Last year, the number of cases increased to 14,229, with total losses of RM413 million. In the first quarter of this year, the number of cases reported was 4,327 and the losses involved were RM77 million.

As the world grapples with the effects of the pandemic, malicious attacks and serious data breaches are also increasing at an alarming rate, compounding the situation and putting into sharp focus the criticality of having a robust cybersecurity system in place.

According to Deloitte, unseen (previously undocumented) malware or methods employed by hackers and cyber attackers have risen 30% during the pandemic as opposed to 20% pre-pandemic. SME contribute a large percentage to our overall gross domestic product (GDP), 38.9% in 2019, while the digital economy contributed 19.1% in the same period. Thus, it is imperative that we ensure the appropriate safeguards are in place.

Cybersecurity adoption for SME and as a whole is no longer an option but a necessity. To put it in numbers:

0 84% of SME in Malaysia have been compromised by cyber threat incidents.

0 76% SME have suffered more than one attack.

Cognisant of this situation, the Malaysia Digital Economy Corporation (MDEC), the nation’s lead agency in digital transformation, in collaboration with the National Cyber Security Agency (NACSA) and SME Corporation Malaysia have set out to develop and implement Matrix Cybersecurity for SME (Matrix).

The programme, launched on June 28 by Deputy Prime Minister, Senior Minister for Security and Minister of Defence Datuk Seri Ismail Sabri Yaakob during the Cyber Defence & Security Exhibition and Conference, aims to boost cybersecurity adoption and implementation among SME from all sectors in Malaysia.

Matrix is a first-of-its-kind in Malaysia and the region as it is designed to facilitate the acceleration of SME cybersecurity adoption. This programme is customised and designed to fit with the DNA of SME.

NACSA – the national lead agency for cybersecurity – chief executive Ir Md Shah Nuri Md Zain said: “The Matrix programme is established to address current cybersecurity challenges faced by SME.

“Matrix will support one of its five strategic pillars and protect SME businesses, which is the foundation of the national economy and future economy. As digital economy grows, cyber attacks will multiply with higher business impact.

“SME will be the biggest target due to its lack of resources and expertise to manage cybersecurity operations. Matrix can manage those challenges and it will be a sustainable approach.”

A robust cybersecurity system will integrate the virtual and physical spaces securely, resulting in a balanced economic advancement which resonates with Malaysia’s 5.0 vision to be a nation that is deeply integrated with technology, providing equitable digital opportunities to the people and businesses. It is also in line with Malaysia’s National Cybersecurity Strategy.

The Matrix programme will also accelerate the journey of digital transformation and enhance the cybersecurity experience through two key value propositions:

0 Simple – Easy to adopt and cost-effective with minimum supervision.

0 Smarter – Visibility by staying ahead of threats and scalable with business.

The Matrix programme has also taken into consideration the challenges faced by SME in adopting cybersecurity measures i.e. lack of funds and resources, limited access to expertise and tools, and the complexity of deployment and operation. It sets out to assist SME end to end, identifying the potential gaps in cybersecurity, the priorities and offering a cost-effective measure.

The programme utilises a three-pronged strategy to mitigate and prevent instances of cyberattacks. First, it provides a 24-hour cybersecurity surveillance to discover and flag attacks to business operations. Secondly, it will provide critical asset protection, deploying the measures against attacks on servers. And thirdly, it continuously assesses the vulnerability and gaps as the threat of cyberattacks evolve.

The rapid growth of ICT and technology bring with it a tremendous opportunity for Malaysia’s cybersecurity industry. International Data Corporation reported that cybersecurity spending for Malaysia reached RM2.6 billion (US$627 million) in 2019, and is expected to exceed the RM4 billion (US$1 billion) mark by 2024. For the next five years, it is expected to remain robust and will see steady growth at a rate of 12.5% (CAGR).

As cybersecurity is a domain that is continuously evolving and improving, with new technologies, processes and methods, it will continue to expand the in-flow of investments and accelerate the growth of Malaysia’s cybersecurity ecosystem. At present, the local cybersecurity industry partners that have joined the Matrix programme include TIME dotcom Berhad, NetAssist (M) Sdn Bhd, PERNEC Technologies Sdn Bhd, DNSVault Sdn Bhd, Securemetric Technology Sdn Bhd and Tecforte Sdn Bhd.

With so much at stake, not only must we be vigilant but also have the corresponding counter-measure in place. To learn more of the Matrix Cybersecurity for SME, visit: http://mdec.my/matrix.

MDEC will also be kicking off its second edition of the highly-anticipated and successful Malaysia Tech Month (MTM) on July 29. MTM is a month-long curation of electrifying digital and technology keynotes, workshops, discussion panels and business-matching sessions. It will feature distinguished group of local and international industry speakers and investors to share their expert thoughts and experiences in 4IR-driven digital economy. The MDEC Digital Adoption Ecosystems division will be curating a week-long series of events at MTM.

To participate, visit https://mdec.my/mtm2021

https://www.thesundaily.my/opinion/protecting-sme-from-cyber-attacks-IF8135082

Original article
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Why Your Organization Needs A Tightly Integrated, Edgy Cybersecurity Strategy

Enterprise IT environments today stretch far and wide. Bad actors are multiplying in number, becoming more cunning in their attacks and quickly expanding their reach in — and damage to — enterprises once they find an opening. At the same time, cybersecurity talent is at a premium.

Here’s a look at what led to this situation and how you can address these challenges now.

Enterprise IT Is Everywhere

As businesses began to understand the benefits of connectivity, they used networks to enable communications between their headquarters and branch office locations. Enterprise IT teams worked to secure the connections between these sites with firewalls and site-to-site VPNs.

Then came the widespread adoption of mobile devices and improving broadband networks. This shift signaled that perimeter security alone was no longer sufficient, and it prompted many enterprise IT teams to seek and implement yet another layer of cybersecurity point solutions.
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When Covid-19 hit, it greatly expanded the work-from-home (WFH) population — and the enterprise threat surface along with it. This trend is likely to persist long after the pandemic. At the same time, Covid-19 ushered in the next era of enterprise cloud adoption. Synergy Research said that enterprise spending on cloud infrastructure services in the third quarter of 2020 ballooned by $1.5 billion over the same quarter the previous year, reaching $65 billion.

This expanded the IT threat surface once again, as a greater volume of users — employing both corporate and personal devices — began connecting from more locations, and more enterprise data and cloud applications moved from in-house data centers to public clouds.

Amid this challenging time, some enterprises left their connections and IT resources unsecured. But now that the dust has settled, many are once again looking for new cybersecurity solutions.

Networking Is Fragmented

Because this IT expansion happened over time, enterprises addressed cybersecurity as new trends emerged and evolved. This ultimately left enterprises saddled with a collection of disjointed architecture and siloed cybersecurity components and solutions.

That collection may include cloud access security broker (CASB) software, firewalls, MPLS services, remote access and site-to-site VPNs, SD-WAN solutions, and web proxy servers. Reports suggest that enterprises deploy, on average, 45 cybersecurity tools on their networks.

But this fragmented approach to cybersecurity simply isn’t working. Here’s why:

• Disjointed architectures drive complexity and technical debt. Already-stretched IT teams now have to manage a growing number of point cybersecurity devices and cloud environments, and IT assets generally become harder to operate and secure.

• Separate tech stacks also lead to higher costs in infrastructure and fragmentation in the knowledge and skills for which enterprises need to train and retain.

• Siloed components and solutions lead to blind spots. Different point solutions provide management only for specific concerns. Bad actors find these environments particularly inviting, exploiting enterprises’ lack of visibility due to gaps between point solutions.

Cybersecurity Is Reactive

When cybersecurity teams and their existing tools can’t spot and contain cyber threats, bad actors have more time to expand their reach and greater potential to do serious damage.

Research suggests that it now takes an average of 280 days to identify and contain a breach. Companies that can identify and contain threats in fewer than 200 days spend on average $1.1 million less.

Yet many in-house cybersecurity operations waste valuable time attempting to make sense of a cacophony of alerts from their various point solutions. Despite all the alert noise, they may still lack all of the relevant information they need to identify which events need their attention.

Without a broad data set to provide greater context, artificial intelligence and machine learning technology to spot attack patterns quickly, and human experts to recognize the nuanced details that can signal cyberattacks, enterprises are left scurrying while bad actors escalate attacks.

Get An Edge On Attackers

Pair adaptive security and optimal network connectivity to get a more complete understanding of attacks. Unify cybersecurity and networking into a single service. This will enable your enterprise to simplify its architecture, lower its total cost of operation and eliminate the siloed point solutions that create gaps in visibility — and make you more vulnerable to cyberattacks.

Employ a cloud-native secure access service edge (SASE) platform to understand what is connected to the network and why. Implement SASE as close as possible to users to address the new enterprise IT edge, which is expanding with more remote users and cloud-based services.

Understand that perimeter security alone is no longer enough. Eighty-eight percent of organizations use public cloud infrastructure services, says ESG Research. Oracle and KPMG note that enterprises are shifting to SaaS for their mission-critical applications.

Monitor 24x7x365 for threats so you can deter and detect attacks fast and prevent and limit damage through containment and remediation. Consider leveraging a managed detection and response (MDR) service so you don’t have to build and run your own in-house security operation center (SOC), which can be costly and difficult to staff with cybersecurity talent.

Work with your MDR partner to establish a predefined playbook so that your partner can contain threats on your behalf rather than just handing off threats for you to contend with.

Seek out a proven partner that will provide you with complete visibility, enable you to address the expanding enterprise IT edge, simplify your architecture, and allow you to avoid and contain threats that can result in significant financial losses, hurt your reputation, and divert your attention and resources from meeting your business objectives.

https://www.forbes.com/sites/sap/2021/07/28/intelligent-erp-what-it-takes-to-thrive-in-a-world-of-big-data/?sh=52a63b1c9bfd

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Why the Private Sector Should Get Involved in Cybersecurity

JULY 26 — Governments and the private sector don’t always see eye to eye when it comes to security issues. It would require those with jurisdiction in and around cyberspace to seek common definitions and goals to ensure that cyberspace is stable and safe for all.

However, common points of view between the government and private sector can be difficult to reach. Take, for example, violent extremism, where definitions of what quantifies as terrorism or a terrorist aren’t fixed. 

While some online posts can be seen as incendiary, in other parts of the world these posts might be part of freedom of expression. Online platform operators might hesitate trying to regulate such content.

But what if the damage isn’t tangible? Or the perception of threat isn’t shared? Europe’s search for digital sovereignty is based on the fear that technological ownership is concentrated in the hands of a few, while the United States and China dominate the development of emerging technologies. This concentration impacts on the ability of individuals and nation-states to shape the rules that would protect Europe’s interests.

On the other hand, former US president Donald Trump’s executive order on foreign interference in telecommunications systems had the private sector weighing supply chain resilience against national security priorities. 

Multinational companies, with supply chains spread across the globe, can be politically and strategically ambivalent. The duty of the private sector is to earn the trust of end users by ensuring that data and security of systems are managed well. These priorities are balanced against bottom lines and other expenditures. 

While some companies would link ethics, transparency and cybersecurity with branding exercises, not all digitising companies can afford to do so. Unless it can be shown that threats defined by governments exploit vulnerabilities in systems and will impact end users, the progress of cybersecurity culture and multi-stakeholder processes can be slow or stall altogether. 

In such a scenario, it may be tempting for states to push back to regain control. Some would strengthen state control and introduce legislations to demarcate jurisdiction, such as China’s Great Firewall or Vietnam’s data localisation laws. Others would introduce regulations, such as the draft AI regulation proposed in the EU or its General Data Protection Regulation already in place. These emphasise hefty obligations on the private sector to ensure that common principles between governments and the private sector are upheld. 

However, threats in cyberspace are multi-faceted and it takes a variety of actors to ensure cyber stability. Stability is the end goal where even in the midst of constant threats to systems, geopolitical tensions and complex impacts of technological diffusion, cyber is still a safe and available domain. This is a step further from the concept of cybersecurity being limited to the security of systems. 

Galvanising a multi-stakeholder process to achieve this aim of a stable cyberspace would require greater exchange platforms. Policy labs or submitting suggestions through white papers would be the means to bridge the public-private divide. Policy labs can draw on the expertise of both governments and the private sector to construct useful policy suggestions with swift executions by different sectors. 

A multi-stakeholder process to address cybercrime, for instance, could be beneficial for policy development. Innovative platforms such as policy labs would bring together the various government agencies and private sector to address future innovations in technology while building safeguards against future threats. Bringing the private sector on board could realise and enhance the National Cybercrime Enforcement Plan outlined in the National Cyber Security Strategy released last year. 

Multi-stakeholder processes are not new to Malaysia. Our approach to the protection of critical infrastructure introduced mechanisms that nominate sector leads, who report to the National Cyber Security Agency (NACSA). This is further supported by a large-scale inter-sectoral and inter-agency simulation exercise held annually. The exercise and relations built since the National Cyber Security Policy was introduced in 2008 enhance trust and smoothen the collaborative mechanism. 

However, uncoordinated multi-stakeholder approaches can create responsibility gaps. As certain responsibilities are not assigned, coordinated or discovered, both the private sector and the government assume that the other party is responsible, leaving end users vulnerable. Consistent engagement with a wide variety of stakeholders and constant assessments would be a pathway forward to discover gaps and assess performance.

As cyberspace grows with innovations and jurisdiction in the hands of the private sector, harmonised public-private practices are necessary to build and keep cyberspace stable. It is in Malaysia’s national interests to find a multi-stakeholder process that works to ensure a safer cyberspace for all.

* Farlina Said is an analyst at the Institute of Strategic and International Studies (ISIS) Malaysia.

** This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.

https://www.malaymail.com/news/what-you-think/2021/07/26/why-the-private-sector-should-get-involved-in-cybersecurity-farlina-said/1992683

Malay Mail, 26th July 2021

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How To Survive A Cybersecurity Attack

In a Forbes article several weeks ago, I observed that the remote work model creates a greater cybersecurity threat since it exposes us to bad actors in ways that are much riskier than when we’re all working in our offices with the benefits of technological and social barriers to attacks. In our “post-Covid” world companies must think harder about how to protect themselves, and as we settle on appropriate return-to-the-workplace solutions for our organizations and employees we should take into account cyber-risk and recognize that cyberattacks are only going to increase in seriousness, scale, and frequency. Chadi Hantouche, cybersecurity expert and leader of Wavestone’s Asia Pacific practice, describes our new reality as “not a problem that can be finally and definitively ‘solved.’ Problems have defined solutions, and often concrete end points, but cyber threats are not problems any more than criminality is a problem—it is an ongoing challenge you need to address constantly.”

One unexpected hallmark of our global pandemic has been the stunning rise in cyberterrorism, which has been aided and abetted by the parallel growth of cryptocurrency. We’ve all gotten used to hacks, pranks, scams, and other annoyances of our online lives, but in recent years we’ve witnessed technological threats that we’ve only really seen before in James Bond movies: organized criminals, likely with the explicit support of foreign governments, attacking American businesses with sophisticated cyberweapons to shut them down and demanding huge sums of money as ransom. This phenomenon is not just criminal; it’s terrorism, and unfortunately it’s also now part of our business risk reality.

Cybercrime is nothing new, but security experts are struggling to keep up and the impact is getting more serious. Ransomware—when hackers, historically from Russia and now China, break into private systems to hold data for ransom—is up 150% or more since the beginning of 2021, with an estimated impact of $1.4 billion or more. The realities include:

· Since 2016, over 4,000 ransomware attacks have occurred daily in the U.S.

· Experts estimate that a ransomware attack will occur every 11 seconds in 2021. (Cybercrime Magazine)

· The average downtime a company experiences after a ransomware attack is 21 days. (Coveware)

· In 2020, ransomware payments were 7% of all funds received by cryptocurrency addresses. (Chainalysis)

· Damages related to cybercrimes are expected to increase to $6 trillion by 2021. (Cybersecurity Ventures)

It’s plain to see that ransomware crime and cyberterrorism are not just annoyances, they are a major national security and economic issue—and one that the U.S. government arguably should be taking much more seriously. The software security company Varonis outlines several worrisome trends, including criminal attention shifting to more vulnerable industries like healthcare providers and schools; evolving “strains” of ransomware and the spread to mobile technology; and, almost preposterously, the growth of RaaS, or “Ransomware-as-a-Service.”

Ransomware has been front-page news this year, with massive attacks on the Colonial Pipeline and the global meat-producer and supplier JBS. Over the 4th of July weekend, there was an attack on Kaseya, a technology company few people outside the managed services industry had ever heard of. But while Kaseya is a relatively small company, it provides a powerful case study, because Kaseya is a small company with a huge reach: it provides software such as remote system monitoring and backup to thousands of small and midsize businesses directly, and to many thousands more through managed services providers (MSPs). If cybercriminals can crack into this kind of technology ecosystem, they can disrupt and hold many businesses hostage—a terrifying concept for a country like the USA where small business is our lifeblood.

The way Kaseya responded to their ransomware attack can offer some helpful insights for what to do if you are attacked.

Kaseya successfully defended itself against what has been called one of the largest cyberattacks ever. Here is what they did right. Within an hour of being alerted to a potential attack by internal and external sources, Kaseya shut down access to all its affected software. This protocol limited the impact of the attack to fewer than 60 of Kaseya’s 36,000+ customers. The company’s rapid remediation and mitigation measures saved thousands of small and medium-sized businesses from suffering devastating consequences to their operations and minimized any impacts to critical infrastructure.

Next, Kaseya engaged its internal incident response team, partnering with leading industry experts in forensic investigations. Once an attack was established, law enforcement and government cybersecurity agencies, including the Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), and the White House were immediately notified and engaged within the hour. With the assistance of these agencies, the root cause of the attack was identified. FireEye Mandiant IR, a leading computer incident response firm, also worked closely with Kaseya on this security incident.

While the patch was ready to go within a day, Kaseya CEO Fred Voccola made a tough call to keep the system down for several more days. “We wanted to be absolutely sure that our customers were protected,” he said. “It was a hard decision to make, but it was clearly the right thing to do.”

Kaseya’s customers are now back online, so it did turn out the tough choice was the correct one … as it often is. And due to the company’s intentional segregation of their software modules, out of its 27 modules, only one (VSA) was compromised. Additionally, of the approximately 800,000 to 1,000,000 local and small businesses that are managed by Kaseya’s customers, no more than 1,500 were affected. Furthermore, Kaseya protected more than 99.9% of its core customers, with only 36,950 of 37,000 not being breached. If the ransomware attack on Kaseya ever becomes a business school case study (perhaps a Tylenol scenario for SaaS?), it will serve as a reminder of what’s most important: “protect first.”

Ransomware is a serious problem for the post-Covid world for companies large and small. And if you own a business, ransomware could destroy it. There’s an old expression: “What doesn’t kill you makes you stronger.” Kaseya has taken heed of that lesson and it has emerged stronger. They followed their playbook and reverted to one of their core values: protecting their customers. Moving forward, the company has prioritized strengthening security operations across the organization, with internal security teams have studying the environment to identify possible future vulnerabilities and address them.

As leaders and companies, we must do more: expect ransomware attacks; protect ourselves as best we can; and have a playbook we can run when the inevitable happens. Because when it comes to cybercrime, at least right now, it’s not a question of if, it’s a question of when.

https://www.forbes.com/sites/hillennevins/2021/07/26/how-to-survive-a-cybersecurity-attack/

Forbes
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