Is Your Digital Business 100% Secure?

Is Your Digital Business 100% Secure?

Digital transformation is creating unprecedented opportunity for organizations today. Along with its far-reaching impact and significant changes in business models, it also comes with unprecedented risk. There are companies that are completely digital. Digital technologies such as mobile, cloud and IoT make it possible to offer new conveniences to customers, operate more efficiently than ever and gain other benefits. With the changed way of working, the demands on security have also changed, as those same technologies have also open doors to a new and special type of cyber-attacks. Here below are few security guidelines that must be carefully considered in pursuing digital initiatives.

 

Cybercrime: The Importance of Prevention!
One of the best and reliable way to guard your company against cybercrime is by educating and informing your staff about cybercrime prevention. It wasn’t long ago that data theft was classified as a social phenomenon somewhere between fun and crime. But cybercrime has now developed into a growth market – in a negative sense.
In a there  2020 Cyberthreat Defense Report, CyberEdge Group found that 81% of surveyed organizations were affected by a successful cyber attack in 2019. The average downtime due to a ransomware attack was 16.2 days in Q4 of 2019 compared to 12.1 days in Q3.
As more and more data is available digitally, the total volume of criminal activity increases. Computers and smartphones are affected equally. Therefore, by teaching your employees to recognize warning signs, you could also enhance your cybercrime prevention strategy.

 

Hardware Security Is a Must!
When it comes to protecting your device, wo-factor authentication (or 2FA offer a whole new level of security for your personal or business devices. It’s a software-based system that send you a text message or email to confirm your identity. In addition to 2FA, you should also invest in a degree of physical protection for your secure hardware in order to prevent disasters. You may also get a tailor-made insurance coverage for your devices. Protecting the hardware alone is too short-sighted. Ultimately, it’s about the corporate data, some of which is stored on the device, some in the cloud somewhere on the network.

 

Secure Basic Configuration

The basic settings for  Internet-enabled devices such as smartphones and laptops include the security settings in the device. These can vary from manufacturer to manufacturer. Apps and operating system should always be kept up to date on one device. The automatic setup for installing available updates is indispensable, because many attacks come via known security holes on the devices.

 

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Protecting organization’s and customers’ personal data is vitally important to the success of any organization. Encrypting that data is one of the best practices to be on the safe side. In case of remote working, sending emails with sensitive data represents a huge risk. It could be intercepted or seen by a third party. If you encrypt the data attached to an email, it will prevent an unintended recipient from viewing the information. Also, be sure your device is set to have all stored data encrypted in the case of theft.

 

Avoid Public Hotspots!

Working on a free WiFi can be attempting for employees who pay for their own data plans. Public hotspots in a café or in the airport are often unencrypted. Employees must be aware that these networks are not secure enough to use when logging into secure systems or transmitting sensitive information (customer data, credit card numbers, etc.). They must access to companies’ data via their secure connection at home or enable their 4G for a secure connectivity when they are on travel.

 

Regularly Perform a Backup Copy

Regularly back-up important data and information. Determine which data should be backed up, how often it should be backed up and where the copy will be saved. Keep this backup in a safe place and make sure it is always disconnected from the network. Also, if you notice that you have been infected, immediately disconnect from the network.
Also, keep information on your computer that is not connected to the network or on paper, such as important e-mail addresses and phone numbers, or information about your Internet service provider.

 

Cyber Crime Insurance

Cybercrime insurance is suitable for protecting companies against the consequences of IT attacks. Either the attack is internal or external, it can lead to a complete shutdown of operations and digital business activities to a standstill, resulting in downtime costs. In these cases, cybercrime insurance steps in and pays the costs. Extendedand personalized policies also bear the expenses incurred for data recovery or legal advice. In short, crime policies cover the direct loss of your funds, whether through maleficence, employee dishonesty or social engineering. So that things don’t get out of hands, business must take basic protective measures.

Opportunities and risks for E-Commerce in Covid19 Crises

Opportunities and risks for ECommerce in Covid19 Crise

 

The Covid19 epidemic and the associated restrictive security measures taken by the Government have various consequences and have an impact on global e-commerce, both in positive and negative way. As due to the corona epidemic, the government advises people to stay indoors as much as possible and non-essential stores are closed. All events, concerts, sports competitions and other activities are also cancelled.

 

During the lockdown, online trading is 100% secure and only way to get goods to the customer. And even if the stores are allowed to open again, many customers still prefer to do as much of their shopping online instead of going to a store and waiting in a never ending queue to get their daily basis use items. In addition, customers who have never or rarely made online purchases are getting familiar with the e-commerce concept as well.

While online sales are increasing sharply in some sectors, they are almost completely falling in others. Especially for companies active in the sale of tickets, tourism and entertainment, transport sector, the event industry is falling drastically, says Sofie Geeroms of sector federation BeCommerce. On the other hand, companies that are active in health care, or sell clothing, food or electronics via the internet and online pharmacies in particular are seeing their turnover increase. “I think we should be grateful that e-commerce is here to meet people’s primary needs,” concludes Geeroms.

 

According to a Coronavirus Survey Report based on 20 answers collected from national e-commerce associations, company members and business partners between 17 and 19 March 2020, 70% of European web shops expect to have less profit this year due to lower sales. In addition, 60% of them experience problems with deliveries. It is clear that the corona crisis is also leaving its mark online.

 

Biggest Problem: Deliveries

Ecommerce Europe survey demonstrated that, for at least 60% of the respondents, one of the main problems is delivery times. For 55% of them delays or interruptions in parcel delivery is the second major issue followed by a drop-in consumer order for 50% of them. They also face problems such as delays in planning the product range due to travel restrictions, increased absence of personnel or lack of transport capacity.

On the bright sight, the web shops indicate that they can still deliver the most packages to their customers. This also applies to cross-border purchases. In 35% of the surveyed web shops there were more online purchases.

 

Another short survey by Gondola shows that several Belgian web-shops see additional sales. Coolblue Belgium confirms “in recent weeks we have seen a sharp increase in sales of products to equip the workplace at home with materials such as screens, laptops and webcams and to keep in touch with each other. According to the survey, they’ve witnessed a growth of 100%.

 

2020 will be the year of e-commerce and anyone who has the opportunity to set up or expand an online shop as a retailer should probably do so. But what should one take in account before expanding their business online. Here are a few important tips & tricks that are important to consider in the online commerce.

 

Think Long Term

Short-term thinking is tempting right now as we want to control damage quickly. However, do not setup your online shop with the mindset of getting benefit from it only during the Corona crises. If you go online, make your webshop a central part of your company and invest effort until you are really satisfied with it and offer your customers a great shopping experience. Customers notice when an online shop is not maintained. This results in damaging your brand image, customer’s trust and lowers your sales. Make the first impressions count.

 

Do Your Homework

What do customers want? What’s going to sell well? Is my product trending or in decline ? How do I define my target market?  What does the competitive landscape look like? What laws and regulations should I be aware of? What are my barriers to entry? How much do i expect to sell ? Which online shop system are we going to opt for? What payment options do we want to offer? Do we want to connect to other portals? For example, on price comparison portals? Do you need a connection to your ERP system? These are some main questions, among thousands of other, that you should go through before going online.

 

Don’t Ignore Technological Trends

Online shops are now quite complex systems that are constantly being enriched with new skills. The reason for this is very simple: competition. There are some interesting technological trends in the area of ​​online trading. Gartner says 100 million consumers will shop in Augmented Reality online and in-store by 2020. Artificial Intelligence will be used, more than ever before, for data analysis and customer experience personalization, make smart product recommendations and automated chatbots that can have simple conversations with customers. Integration of augmented reality (AR) and virtual reality (VR) to help customers visualize their items before purchasing them.

 

Personalise the Customer Experience

Online trading offers incredible opportunities to understand your customers and offer them a customized shopping experience. An example: The navigation of your shop could prominently display the categories that are particularly relevant for your customer; or you can highlight different product benefits for different customer groups. Implementing personalized experiences on-site or in marketing efforts has been shown to have a strong effect on revenue, with one study finding it had a 25% revenue lift. Recent data also shows personalization efforts can reduce bounce rates by 45%.

 

Conclusion

Online shops offer retailers incredible opportunities – and what might have been born a lifeline in the Corona crisis can later become an integral part of your own company with high sales. Time will tell what new trends will 2020 bring in the ecpmmerce industry. But be prepared as there’s a lot of 2020 remaining,

 

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Is Your Public Cloud Data Secure?

Is Your Public Cloud Data Secure?

 

With advancing digitalization, business requirements are also developing rapidly. The rise of cloud applications shows no signs of slowing down. More and more organizations continue to adopt cloud computing at a rapid pace to benefit from increased efficiency, better scalability, and faster deployments. According to a report by Linker, the global public cloud computing market is expected to reach $623.3 billion by 2023. The rapid provision of business applications for the introduction of new, improved business processes is central. Many companies consider outsourcing workloads to the public cloud as a priority. High availability, scalability and cost efficiency open up the possibility of implementing innovative operational developments with little effort.

 

As more workloads are shifting to the cloud, cybersecurity professionals remain concerned about the security of data, systems, and services in the cloud. the public cloud exposes business to a large number of new threats. Its dynamic character makes that relying on traditional security technologies and approaches isn’t enough. Therefore, many companies have to rethink the risk assessment of the data stored in the cloud.

 

While moving their workloads into public cloud, companies think that their business is automatically protected. Unfortunately, this security is not certain. Amazon, Microsoft and Google do indeed partially secure their cloud, but it is not their core business or priority. So, in order to cope with new security challenges, security teams are forced to update their security posture and strategies.

 

A report by RightScale shows that average business runs 38% of workloads in public and 41% in private cloud. Usually, enterprises run a more significant part of their workloads in a private cloud (46%) and a smaller portion (33%) in the public cloud. Small to medium businesses, on the other hand, prefer to use a public cloud (43%), instead of investing in more expensive private solutions (35%).

The cloud computing statistics also show the public cloud spend is growing three times faster than the private cloud usage.

 

For this survey 786 IT professionals were questioned about their adoption of cloud infrastructure and related technologies. 58% of the respondents represented enterprises with more than 1,000 employees. For majority of them, more than 50% of enterprise workloads and data are expected to be in a public cloud within 12 months. More than half of respondents said they’ll consider moving at least some of their sensitive consumer dataor corporate financial data to the cloud.

 

Even tough public cloud adoption continues to accelerate 83% of enterprises indicate that security is a is one of the top challenge, followed by 82% for managing cloud spend and 79% for governance.

Workloads and data in a public cloud for all organizations

 
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Securing the environment in the cloud is one of the biggest challenge or barrier in cloud adoption. If companies want to protect their data in the cloud, they must ensure that the environment is used safely. This requires additional measures at different levels:

 

Secure access with Identity and Access Management (IAM)

 

As the data stored in cloud can be access from any location and any device, access control and whitelisting are among the first and strongest measures to safeguard your cloud. Managing people, roles and identities is primordial in cloud security.

In most companies, user rights for applications, databases, and content are maintained manually in separate access lists. Regulations for dealing with security-relevant technologies are also kept in other places. The lack of automation and distributed access management prevent identity or context attributes that are needed for dynamic Identity and Access Management (IAM) from being considered.

Building an identical repository with clearly defined type of access for each user identity and strict access policies is therefore the first step in the dynamic handling of access rights. For example, it can be specified that employee X login is only permitted from certain geographic locations by secure network connection to access only a selected numbers of files.

While these policies can be managed by different individuals with appropriate authority in the organization, they must exist in a single, reliable, and up-to-date location – across all resources, parameters, and user groups.

 

Data loss prevention (DLP)

 

As data is one of your organization’s most valuable assets, protecting it and keeping it secure must be one of your top priority. In order to accomplish this, a number of DLP controls must be implemented in all cloud applications at various levels and allow IT administrators to intervene. «DLP (Data loss prevention) is the practice of detecting and preventing confidential data from being “leaked” out of an organization’s boundaries for unauthorized use. Data may be physically or logically removed from the organization either intentionally or unintentionally. »

 

Data Encryption

 

Sensitive data may not be transmitted through public networks without adequate encryption. Therefore, one of the most effective cloud security measure that you can take is to encrypt all of your sensitive data in the public cloud. This includes all type of data such as the data at rest inside the cloud and archived and backed-up data, or the data in transit as well. This allows you the complete protection in case of any data exposure, as it remains unreadable and confidential based on your encryption decisions. By encrypting properly data, organizations can also address compliance with government and industry regulations, including GDPR.

Machine Learning and Data Protection in the Cloud

Machine Learning and Data Protection in the Cloud

 

As more organizations are shifting infrastructure and services to the cloud, more are adopting a multi-cloud strategy. In fact theworldwide public cloud service market is expected to reach $623.3 billion by 2023. 83% of enterprise workloads will be in the cloud by 2020 and 94% of enterprises already use a cloud service.

 

These numbers show that most companies are already using cloud solutions in one form or another. In addition to the many advantages that the cloud can offer, it also increases the attack surface. Cloud growth creates new security threats, and organizations are struggling.

To guarantee a high level of security in the cloud, modern security solutions with machine learning, analytics and automation can help. Machine learning has already taken a massive increase in adoption over recent years and many businesses have already started to plan or have already developed machine learning models for security purpose.

 

Most IT departments are well equipped and informed with ensuring local network security. But how this really works in detail in the cloud is still relatively unfamiliar in many organizations. In addition, many business are already busy with securing their existing infrastructure, thus securing cloud infrastructures can be ignored or forgotten. What many businesses underestimate is that even complex hybrid infrastructures can be secured with advanced technologies that use machine learning, with a manageable cybersecurity budget.

 

In almost all industries, the cloud is already being used as an effective extension or replacement for some of the data center resources. And if you are not yet in the cloud, you are probably planning this step at the moment. But before moving to the cloud, make sure that critical security and regulatory questions are answered. As companies who adopt a multi-cloud strategy need visibility across it all to prevent downtime and to stay ahead of hackers.

 

Cloud-related threats are at an all-time high

 

It is not surprising that cloud-related threats keeps increasing, and there is no reason to believe that this will change in the near future. According to the recent study by the Ponemon Institute, the average cost of a data breach worldwide now equals $3.86 million – $148 per compromised record. However, the numbers vary greatly from country to country. In addition to that, a recent Skyhigh Networks study found that every organization operating in the cloud had almost two security incidents each month. These include: inside threats (both accidental and malicious), privileged user threats, compromised accounts, or data exfiltration. This shows that data is fundamentally endangered regardless of the storage location. Contrary to the often erroneous assumption, the provider of the cloud is never responsible for securing corporate data. For example, AWS states that they are responsible for the security of the cloud, but their customers for security within the cloud. Responsibility thus falls into the IT security of the companies using it, which often does not have the right personnel or know-how to guarantee security in the cloud.

Along with other challenges, IT security teams have a dual mandate to secure data in cloud services procured and managed by their organizations, as well as corporate data that employees upload to cloud services that they find and use on their own.

 

What specific steps can you take in this case to ensure security in the cloud as well?

 

A robust cloud security program includes technologies to protect, detect, investigate and respond to security incidents. The most effective cloud security technologies are data encryption, network encryption and SIEM (Security Information and Events Management). With the exception of SIEM, most technologies focus primarily on protecting and building a defense. However, next generation SIEMs also include proactive monitoring, analysis to improve detection and Reporting and forensics about security incidents, investigation and response to security incidents along with alerts based on analytics that match a certain rule set, indicating a security issue.

This makes the latest generation of SIEMs the ideal solution to secure hybrid environments. SIEM tools work by collecting and aggregating logs, reports and alerts from all of your security tools and solutions. These tools then present this information in a centralized location, by improving visibility and speeding incident analysis and response.

 

Machine learning key to securing data in the cloud

 

Fact that hackers are growing in sophistication and their malware is evolving quickly and continuously, enterprises must adapt a robust data protection strategy. Terms such as “data science” or “machine learning” started long ago as buzzwords in the IT industry. For some time now, however, the clever algorithms have been helping to recognize patterns in many areas and are already doing so in IT security. Many companies in numerous industries are currently facing the challenge of securing existing or future infrastructures in the cloud. Already used in speech recognition software and ERP systems for data management, the clever algorithms of machine learning are now being leveraged in cloud security solutions in order to enable enhanced threat detection and real-time security.

 

Next-generation machine learning algorithms are ideal for today’s cloud security because large data volumes are the most important condition for their reliability. These ‘intelligent’ solutions are able to take in high volumes of data from high-traffic environments andperform an extensive property and behaviour analysis to detect threats and take the appropriate actions in a variety of scenarios.

Therefore, the use of machine learning is the logical response to the growing amount of data and the ever-evolving threats found in the cloud. Machine learning solutions are helping organizations to secure data and enabling them to securely adopt any cloud application, despite advanced malware.

 

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