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Cloud ComputingCloud Security

Ensuring Data Privacy in Public Clouds

January 24, 2019 — by Radware — 0

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Most enterprises spread data and applications across multiple cloud providers, typically referred to as a multicloud approach. While it is in the best interest of public cloud providers to offer network security as part of their service offerings, every public cloud provider utilizes different hardware and software security policies, methods and mechanisms, creating a challenge for the enterprise to maintain the exact same policy and configuration across all infrastructures. Public cloud providers typically meet basic security standards in an effort to standardize how they monitor and mitigate threats across their entire customer base. Seventy percent of organizations reported using public cloud providers with varied approaches to security management. Moreover, enterprises typically prefer neutral security vendors instead of over-relying on public cloud vendors to protect their workloads. As the multicloud approach expands, it is important to centralize all security aspects.

When Your Inside Is Out, Your Outside Is In

Moving workloads to publicly hosted environments leads to new threats, previously unknown in the world of premise-based computing. Computing resources hosted inside an organization’s perimeter are more easily controlled. Administrators have immediate physical access, and the workload’s surface exposure to insider threats is limited. When those same resources are moved to the public cloud, they are no longer under the direct control of the organization. Administrators no longer have physical access to their workloads. Even the most sensitive configurations must be done from afar via remote connections. Putting internal resources in the outside world results in a far larger attack surface with long, undefined boundaries of the security perimeter.

In other words, when your inside is out, then your outside is in.

[You may also like: Ensuring a Secure Cloud Journey in a World of Containers]

External threats that could previously be easily contained can now strike directly at the heart of an organization’s workloads. Hackers can have identical access to workloads as do the administrators managing them. In effect, the whole world is now an insider threat.

In such circumstances, restricting the permissions to access an organization’s workloads and hardening its security configuration are key aspects of workload security.

Poor Security HYGIENE Leaves You Exposed

Cloud environments make it very easy to grant access permissions and very difficult to keep track of who has them. With customer demands constantly increasing and development teams put under pressure to quickly roll out new enhancements, many organizations spin up new resources and grant excessive permissions on a routine basis. This is particularly true in many DevOps environments where speed and agility are highly valued and security concerns are often secondary.

Over time, the gap between the permissions that users have and the permissions that they actually need (and use) becomes a significant crack in the organization’s security posture. Promiscuous permissions leave workloads vulnerable to data theft and resource exploitation should any of the users who have access permissions to them become compromised. As a result, misconfiguration of access permissions (that is, giving permissions to too many people and/or granting permissions that are overly generous)
becomes the most urgent security threat that organizations need to address in public cloud environments.

[You may also like: Considerations for Load Balancers When Migrating Applications to the Cloud]

The Glaring Issue of Misconfiguration

Public cloud providers offer identity access management tools for enterprises to control access to applications, services and databases based on permission policies. It is the responsibility of enterprises to deploy security policies that determine what entities are allowed to connect with other entities or resources in the network. These policies are usually a set of static definitions and rules that control what entities are valid to, for example, run an API or access data.

One of the biggest threats to the public cloud is misconfiguration. If permission policies are not managed properly by an enterprise will the tools offered by the public cloud provider, excessive permissions will expand the attack surface, thereby enabling hackers to exploit one entry to gain access to the entire network.

Moreover, common misconfiguration scenarios result from a DevOps engineer who uses predefined permission templates, called managed permission policies, in which the granted standardized policy may contain wider permissions than needed. The result is excessive permissions that are never used. Misconfigurations can cause accidental exposure of data, services or machines to the internet, as well as leave doors wide open for attackers.

[You may also like: The Hybrid Cloud Habit You Need to Break]

For example, an attacker can steal data by using the security credentials of a DevOps engineer gathered in a phishing attack. The attacker leverages the privileged role to take a snapshot of elastic block storage (EBS) to steal data, then shares the EBS snapshot and data on an account in another public network without installing anything. The attacker is able to leverage a role with excessive permissions to create a new machine at the beginning of the attack and then infiltrate deeper into the network to share
AMI and RDS snapshots (Amazon Machine Images and Relational Database Service, respectively), and then unshare resources.

Year over year in Radware’s global industry survey, the most frequently mentioned security challenges encountered with migrating applications to the cloud are governance issues followed by skill shortage and complexity of managing security policies. All contribute to the high rate of excessive permissions.

Read “The Trust Factor: Cybersecurity’s Role in Sustaining Business Momentum” to learn more.

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Attack MitigationAttack Types & Vectors

5 Ways Malware Defeats Cyber Defenses & What You Can Do About It

January 17, 2019 — by Radware — 0

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Malware is a key vector for data breaches. Research shows that 51% of data breaches include the usage of malware, whether for initial breach, expansion within the network or heisting data. Yet despite malware being a pivotal attack vector, companies are unable to defend against data-theft malware running wild in their network. In fact, some of the biggest and most well-publicized breaches ever were the result of undetected malware.

Why? Modern malware is built to evade traditional anti-malware defenses. Today’s malwares are sophisticated multi-vector attack weapons designed to elude detection using an array of evasion tools and camouflage techniques. In the game of chess between attackers and defenders, hackers constantly find new ways to stay one step ahead of existing defenses.

Modern Malware

Here are five common evasion techniques used by modern malware and how they beat traditional anti-malware defenses.

Polymorphic malware: Many traditional anti-malware defenses operate using known malware signatures. Modern data-theft malware counteracts this by constantly morphing or shapeshifting. By making simple changes to the code, attackers can easily generate an entirely new binary signature for the file.

Shapeshifting, zero-day malware beats signature-based defenses such as anti-virus, email filtering, IPS/IDS, and sandboxing.

File-less malware: Many anti-malware tools focus on static files and operating-systems (OS) processes to detect malicious activity. However, an increasingly common technique by attackers is to use file-less malware which is executed in run-time memory only, leaves no footprint on the target host and is therefore transparent to file-based defenses.

File-less malware beats IPS/IDS, UEBA, anti-virus, and sandboxing.

[You may also like: Threat Alert: MalSpam]

Encrypted payloads: Some anti-malware defense use content scanning to block sensitive data leakage. Attackers get around this by encrypting communications between infected hosts and Command & Control (C&C) servers.

Encrypted payloads beat DLP, EDR, and secure web gateways (SWG).

Domain generation algorithm (DGA): Some anti-malware defenses include addresses of known C&C servers, and block communication with them. However, malwares with domain generation capabilities get around this by periodically modifying C&C address details and using previously unknown addresses.

Beats secure web gateways (SWG), EDR, and sandboxing.

Host spoofing: spoofs header information to obfuscate the true destination of the data, thereby bypassing defenses that target the addresses of known C&C servers.

Beats secure web gateways (SWG), IPS/IDS and sandboxing.

[You may also like: Micropsia Malware]

What Can You Do?

Beating zero-day evasive malware is not easy, but there are several key steps you can take to severely limit its impact:

Apply multi-layer defenses: Protecting your organization against evasive malware is not a one-and-done proposition. Rather, it is an ongoing effort that requires combining endpoint defenses (such as anti-virus software) with network-layer protection such as firewalls, secure web gateways and more. Only multi-layered protection ensures complete coverage.

Focus on zero-day malware: Zero-day malware accounts for up to 50% of malware currently in circulation. Zero-day malware frequently goes unrecognized by existing anti-malware defenses and is a major source of data loss. Anti-malware defense mechanisms that focus squarely on identifying and detecting zero-day malwares is a must have.

[You may also like: The Changing Face of Malware: Malware Being Used as Cryptocurrency Miners]

Implement traffic analysis: Data theft malware attacks take aim at the entire network to steal sensitive data. Although infection might originate from user endpoints, it is typically the aim of attackers to expand to network resources as well. As a result, it is important for an anti-malware solution to not just focus on  one area of the network or resource type, but maintain a holistic view of the entire network and analyze what is happening.

Leverage big data: A key ingredient in detecting zero-day malware is the ability to collect data from a broad information base amassed over time. This allows defenders to detect malware activity on a global scale and correlate seemingly unrelated activities to track malware development and evolution.

Read the “2018 C-Suite Perspectives: Trends in the Cyberattack Landscape, Security Threats and Business Impacts” to learn more.

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Application SecurityAttack MitigationAttack Types & VectorsSecurity

10 Most Popular Blogs of 2018

December 27, 2018 — by Radware — 0

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Between large scale cyberattacks, the implementation of GDPR and increasing popularity of smart home technologies (and their associated vulnerabilities), we had a lot to write about this year. Of the hundreds of blogs we published in 2018, several floated to the top in terms of readership. Below, we recap the ten most popular blogs of 2018.

Consumer Sentiments About Cybersecurity and What It Means for Your Organization

Over the past six months, the data breaches against companies such as Panera Bread, Delta Airlines and Sears, and Saks have proven we live in an age where cyberattacks and data breaches are now commonplace. The result? Cybersecurity is no longer just the topic of conversation of tech gurus and IT personnel. It has transitioned into the mainstream conversation and has become a concern of the masses. Consumers are now concerned that the organizations they are conducting business with are proactive about safeguarding their information and how they will fix it if a breach does occur. Read more…

New Threat Landscape Gives Birth to New Way of Handling Cyber Security

With the growing online availability of attack tools and services, the pool of possible attacks is larger than ever. Let’s face it, getting ready for the next cyber-attack is the new normal! This ‘readiness’ is a new organizational tax on nearly every employed individual throughout the world. Amazingly enough, attackers have reached a level of maturity and efficiency – taking advantage of the increased value and vulnerability of online targets, and resulting in a dramatic increase in attack frequency, complexity and size. Read more…

The Evolution of IoT Attacks

IoT devices are nothing new, but the attacks against them are. They are evolving at a rapid rate as growth in connected devices continues to rise and shows no sign of letting up. One of the reasons why IoT devices have become so popular in recent years is because of the evolution of cloud and data processing which provides manufacturers cheaper solutions to create even more ‘things’. Before this evolution, there weren’t many options for manufacturers to cost-effectively store and process data from devices in a cloud or data center.  Older IoT devices would have to store and process data locally in some situations. Today, there are solutions for everyone and we continue to see more items that are always on and do not have to store or process data locally. Read more…

Are Your Applications Secure?

As we close out a year of headline-grabbing data breaches (British Airways, Under Armor, Panera Bread), the introduction of GDPR and the emergence of new application development architectures and frameworks, Radware examined the state of application security in its latest report. This global survey among executives and IT professionals yielded insights about threats, concerns and application security strategies. Read more…

Snapshot of the Most Important Worldwide Cybersecurity Laws, Regulations, Directives and Standards

Are you out of breath from the breakneck pace of cyberattacks since the start of 2018? Throughout the world, nearly daily news reports have been filed detailing the results of incredibly effective cyberattacks ranging from small companies to nation-states. The sum total of these attacks has permanently and dramatically changed the information security threat landscape.  This change hasn’t gone unnoticed with the regulators and now, depending on where your business operates, you have accrued even more work to demonstrate your diligence to these threats. Read more…

Credential Stuffing Campaign Targets Financial Services

Over the last few weeks, Radware has been tracking a significant Credential Stuffing Campaign targeting the financial industry in the United States and Europe. Credential Stuffing is an emerging threat in 2018 that continues to accelerate as more breaches occur. Today, a breach doesn’t just impact the compromised organization and its users, but it also affects every other website that the users may use. Read more…

Is My Smart Home Telling People What I Do Every Day?

The overall smart home market is expected to grow to over $50 billion by 2022.  Already 1 in 4 U.S. households has some kind of smart device in their home.  With all the smart thermostats, smart fridges, smart light bulbs, smart doors and windows, personal assistants, and smart home surveillance, internet-connected home devices are rapidly stacking up in U.S. households. These devices are adding convenience and efficiency, but are they safe? Read more…

Machine Learning Algorithms for Zero Time to Mitigation

Effective DDoS protection combines machine-learning algorithms with negative and positive protection models, as well as rate limiting. The combination of these techniques ensures zero time to mitigation and requires little human intervention. Read more…

Cybersecurity & The Customer Experience: The Perfect Combination

Organizations have long embraced the customer experience and declared it a competitive differentiator. Many executives are quick to focus on the benefits of a loyal-centric strategy and companies now go to great lengths to communicate their organization’s customer centricity to retain existing customers and attract new ones. But where is cybersecurity in this discussion? Read more…

Nigelthorn Malware Abuses Chrome Extensions to Cryptomine and Steal Data

On May 3, 2018, Radware’s cloud malware protection service detected a zero-day malware threat at one of its customers, a global manufacturing firm, by using machine-learning algorithms. This malware campaign is propagating via socially-engineered links on Facebook and is infecting users by abusing a Google Chrome extension (the ‘Nigelify’ application) that performs credential theft, cryptomining, click fraud and more. Read more…

Read the “2018 C-Suite Perspectives: Trends in the Cyberattack Landscape, Security Threats and Business Impacts” to learn more.

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BotnetsBrute Force AttacksDDoS AttacksPhishing

Top 6 Threat Discoveries of 2018

December 18, 2018 — by Radware — 0

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Over the course of 2018, Radware’s Emergency Response Team (ERT) identified several cyberattacks and security threats across the globe. Below is a round-up of our top discoveries from the past year. For more detailed information on each attack, please visit DDoS Warriors.

DemonBot

Radware’s Threat Research Center has been monitoring and tracking a malicious agent that is leveraging a Hadoop YARN (Yet-Another-Resource-Negotiator) unauthenticated remote command execution to infect Hadoop clusters with an unsophisticated new bot that identifies itself as DemonBot.

After a spike in requests for /ws/v1/cluster/apps/new-application appeared in our Threat Deception Network, DemonBot was identified and we have been tracking over 70 active exploit servers that are actively spreading DemonBot and are exploiting servers at an aggregated rate of over 1 million exploits per day.

[You may also like: IoT Botnets on the Rise]

Credential Stuffing Campaign

In October, Radware began tracking a credential stuffing campaign—a subset of Bruce Force attacks—targeting the financial industry in the United States and Europe.

This particular campaign is motivated by fraud. Criminals are using credentials from prior data breaches to gain access to users’ bank accounts. When significant breaches occur, the compromised emails and passwords are quickly leveraged by cybercriminals. Armed with tens of millions of credentials from recently breached websites, attackers will use these credentials, along with scripts and proxies, to distribute their attack against the financial institution to take over banking accounts. These login attempts can happen in such volumes that they resemble a distributed denial-of-service (DDoS) attack.

DNS Hijacking Targets Brazilian Banks

This summer, Radware’s Threat Research Center identified a hijacking campaign aimed at Brazilian Bank customers through their IoT devices, attempting to gain their bank credentials.

The research center had been tracking malicious activity targeting DLink DSL modem routers in Brazil since early June. Through known old exploits dating from 2015, a malicious agent is attempting to modify the DNS server settings in the routers of Brazilian residents, redirecting all their DNS requests through a malicious DNS server. The malicious DNS server is hijacking requests for the hostname of Banco de Brasil (www.bb.com.br) and redirecting to a fake, cloned website hosted on the same malicious DNS server, which has no connection whatsoever to the legitimate Banco de Brasil website.

[You may also like: Financial Institutions Must Protect the Data Like They Protect the Money]

Nigelthorn Malware

In May, Radware’s cloud malware protection service detected a zero-day malware threat at one of its customers, a global manufacturing firm, by using machine-learning algorithms. This malware campaign is propagating via socially-engineered links on Facebook and is infecting users by abusing a Google Chrome extension (the ‘Nigelify’ application) that performs credential theft, cryptomining, click fraud and more.

Further investigation by Radware’s Threat Research group revealed that this group has been active since at least March 2018 and has already infected more than 100,000 users in over 100 countries.

[You may also like: The Origin of Ransomware and Its Impact on Businesses]

Stresspaint Malware Campaign

On April 12, 2018, Radware’s Threat Research group detected malicious activity via internal feeds of a group collecting user credentials and payment methods from Facebook users across the globe. The group manipulates victims via phishing emails to download a painting application called ‘Relieve Stress Paint.’ While benign in appearance, it runs a malware dubbed ‘Stresspaint’ in the background. Within a few days, the group had infected over 40,000 users, stealing tens of thousands Facebook user credentials/cookies.

DarkSky Botnet

In early 2018, Radware’s Threat Research group discovered a new botnet, dubbed DarkSky. DarkSky features several evasion mechanisms, a malware downloader and a variety of network- and application-layer DDoS attack vectors. This bot is now available for sale for less than $20 over the Darknet.

As published by its authors, this malware is capable of running under Windows XP/7/8/10, both x32 and x64 versions, and has anti-virtual machine capabilities to evade security controls such as a sandbox, thereby allowing it to only infect ‘real’ machines.

Read the “IoT Attack Handbook – A Field Guide to Understanding IoT Attacks from the Mirai Botnet and its Modern Variants” to learn more.

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Security

Automating Cyber-Defense

December 14, 2018 — by Radware — 0

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AI has potential to make the lives of security professionals a lot easier – but it should be approached with caution. Deep learning is a useful tool to optimize and validate security posture. But until we overcome some of its challenges, positive security models and behavioral algorithms that are deterministic and predictable are still more effective for defense and mitigation.

Pascal Geenens, Radware’s EMEA Security Evangelist, recently spoke with Business Reporter about automating cyber-defense. Watch the interview below and read his accompanying article here.

2018 Mobile Carrier Ebook

Read “Creating a Secure Climate for your Customers” today.

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DDoSDDoS AttacksSecurityWAF

What Can We Learn About Cybersecurity from the Challenger Disaster? Everything.

December 5, 2018 — by Radware — 0

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Understanding the potential threats that your organization faces is an essential part of risk management in modern times. It involves forecasting and evaluating all the factors that impact risk. Processes, procedures and investments can all increase, minimize or even eliminate risk.

Another factor is the human element. Often times, within an organization, a culture exists in which reams of historical data tell one story, but management believes something entirely different. This “cognitive dissonance” can lead to an overemphasis and reliance on near-term data and/or experiences and a discounting of long-term statistical analysis.

Perhaps no better example of this exists than the space shuttle Challenger disaster in 1986, which now serves as a case study in improperly managing risk. In January of that year, the Challenger disintegrated 73 seconds after launch due to the failure of a gasket (called an O-ring) in one of the rocket boosters. While the physical cause of the disaster was caused by the failure of the O-ring, the resulting Rogers Commission that investigated the accident found that NASA had failed to correctly identify “flaws in management procedures and technical design that, if corrected, might have prevented the Challenger tragedy.”

Despite strong evidence dating back to 1977 that the O-ring was a flawed design that could fail under certain conditions/temperatures, neither NASA management nor the rocket manufacturer, Morton Thiokol, responded adequately to the danger posed by the deficient joint design. Rather than redesigning the joint, they came to define the problem as an “acceptable flight risk.” Over the course of 24 preceding successful space shuttle flights, a “safety culture” was established within NASA management that downplayed the technical risks associated with flying the space shuttle despite mountains of data, and warnings about the O-ring, provided by research and development (R & D) engineers.

As American physicist Richard Feynman said regarding the disaster, “For a successful technology, reality must take precedence over public relations, for nature cannot be fooled.”

Truer words have never been spoken when they pertain to cybersecurity. C-suite executives need to stop evaluating and implementing cybersecurity strategies and solutions that meet minimal compliance and establish a culture of “acceptable risk” and start managing to real-world risks — risks that are supported by hard data.

Risk Management and Cybersecurity

The threat of a cyberattack on your organization is no longer a question of if, but when, and C-suite executives know it. According to C-Suite Perspectives: Trends in the Cyberattack Landscape, Security Threats and Business Impacts, 96% of executives were concerned about network vulnerabilities and security risks resulting from hybrid computing environments. Managing risk requires organizations to plan for and swiftly respond to risks and potential risks as they arise. Cybersecurity is no exception. For any organization, risks can be classified into four basic categories:

The Challenger disaster underscores all four of these risk categories. Take strategic risk as an example. Engineers from Morton Thiokol expressed concerns and presented data regarding the performance of the O-rings, both in the years prior and days leading up to the launch, and stated the launch should be delayed. NASA, under pressure to launch the already delayed mission and emboldened by the 24 preceding successful shuttle flights that led them to discount the reality of failure, pressured Morton Thiokol to supply a different recommendation. Morton Thiokol management decided to place organizational goals ahead of safety concerns that were supported by hard data. The recommendation for the launch was given, resulting in one of the most catastrophic incidents in manned space exploration. Both Morton Thiokol and NASA made strategic decisions that placed the advancements of their respective organizations over the risks that were presented.

[You may also like: The Million-Dollar Question of Cyber-Risk: Invest Now or Pay Later?]

This example of strategic risk serves as a perfect analogy for organizations implementing cybersecurity strategies and solutions. There are countless examples of high-profile cyberattacks and data breaches in which upper management was warned in advance of network vulnerabilities, yet no actions were taken to prevent an impending disaster. The infamous 2018 Panera Bread data breach is one such example. Facebook is yet another. Its platform operations manager between 2011 and 2012 warned management at the social tech giant to implement audits or enforce other mechanisms to ensure user data extracted from the social network was not misused by third-party developers and/or systems. These warnings were apparently ignored.

So why does this continually occur? The implementation of DDoS and WAF mitigation solutions often involves three key components within an organization: management, the security team/SOC and compliance. Despite reams of hard data provided by a security team that an organization is either currently vulnerable or not prepared for the newest generation of attack vectors, management will often place overemphasis on near-term security results/experiences; they feel secure in the fact that the organization has never been the victim of a successful cyberattack to date. The aforementioned Facebook story is a perfect example: They allowed history to override hard data presented by a platform manager regarding new security risks.

Underscoring this “cognitive dissonance” is the compliance team, which often seeks to evaluate DDoS mitigation solutions based solely on checkbox functionality that fulfills minimal compliance standards. Alternatively, this strategy also drives a cost-savings approach that yields short-term financial savings within an organization that often times views cybersecurity as an afterthought vis-à-vis other strategic programs, such as mobility, IoT and cloud computing.

The end result? Organizations aren’t managing real-world risks, but rather are managing “yesterday’s” risks, thereby leaving themselves vulnerable to new attack vectors, IoT botnet vulnerabilities, cybercriminals and other threats that didn’t exist weeks or even days ago.

The True Cost of a Cyberattack

To understand just how detrimental this can be to the long-term success of an organization requires grasping the true cost of a cyberattack. Sadly, these data points are often as poorly understood, or dismissed, as the aforementioned statistics regarding vulnerability. The cost of a cyberattack can be mapped by the four risk categories:

  • Strategic Risk: Cyberattacks, on average, cost more than one million USD/EUR, according to 40% of executives. Five percent estimated this cost to be more than 25 million USD/EUR.
  • Reputation Risk: Customer attrition rates can increase by as much as 30% following a cyberattack. Moreover, organizations that lose over four percent of their customers following a data breach suffer an average total cost of $5.1 million. In addition, 41% of executives reported that customers have taken legal action against their companies following a data breach. The Yahoo and Equifax data breach lawsuits are two high-profile examples.
  • Product Risk: The IP Commission estimated that counterfeit goods, pirated software and stolen trade secrets cost the U.S. economy $600 billion annually.
  • Governance Risk: “Hidden” costs associated with a data breach include increased insurance premiums, lower credit ratings and devaluation of trade names. Equifax was devalued by $4 billion by Wall Street following the announcement of its data breach.

[You may also like: Understanding the Real Cost of a Cyber-Attack and Building a Cyber-Resilient Business]

Secure the Customer Experience, Manage Risk

It’s only by identifying the new risks that an organization faces each and every day and having a plan in place to minimize them that enables its executives to build a foundation upon which their company will succeed. In the case of the space shuttle program, mounds of data that clearly demonstrated an unacceptable flight risk were pushed aside by the need to meet operational goals. What lessons can be learned from that fateful day in January of 1986 and applied to cybersecurity? To start, the disaster highlights the five key steps of managing risks.

In the case of cybersecurity, this means that the executive leadership must weigh the opinions of its network security team, compliance team and upper management and use data to identify vulnerabilities and the requirements to successfully mitigate them. In the digital age, cybersecurity must be viewed as an ongoing strategic initiative and cannot be delegated solely to compliance. Leadership must fully weigh the potential cost of a cyberattack/data breach on the organization versus the resources required to implement the right security strategies and solutions. Lastly, when properly understood, risk can actually be turned into a competitive advantage. In the case of cybersecurity, it can be used as a competitive differentiator with consumers that demand fast network performance, responsive applications and a secure customer experience. This enables companies to target and retain customers by supplying a forward-looking security solution that seamlessly protects users today and into the future.

So how are executives expected to accomplish this while facing new security threats, tight budgets, a shortfall in cybersecurity professionals and the need to safeguard increasingly diversified infrastructures? The key is creating a secure climate for the business and its customers.

To create this climate, research shows that executives must be willing to accept new technologies, be openminded to new ideologies and embrace change, according to C-Suite Perspectives: Trends in the Cyberattack Landscape, Security Threats and Business Impacts. Executives committed to staying on top of this ever-evolving threat must break down the silos that exist in the organization to assess the dimensions of the risks across the enterprise and address these exposures holistically. Next is balancing the aforementioned investment versus risk equation. All executives will face tough choices when deciding where to invest resources to propel their companies forward. C-suite executives must leverage the aforementioned data points and carefully evaluate the risks associated with security vulnerabilities and the costs of implementing effective security solutions to avoid becoming the next high-profile data breach.

According to the same report, four in 10 respondents identified increasing infrastructure complexity, digital transformation plans, integration of artificial intelligence and migration to the cloud as events that put pressure on security planning and budget allocation.

The stakes are high. Security threats can seriously impact a company’s brand reputation, resulting in customer loss, reduced operational productivity and lawsuits. C-suite executives must heed the lessons of the space shuttle Challenger disaster: Stop evaluating and implementing cybersecurity strategies and solutions that meet minimal compliance and start managing to real-world risks by trusting data, pushing aside near-term experiences/“gut instincts” and understanding the true cost of a cyberattack. Those executives who are willing to embrace technology and change and prioritize cybersecurity will be the ones to win the trust and loyalty of the 21st-century consumer.

Read the “2018 C-Suite Perspectives: Trends in the Cyberattack Landscape, Security Threats and Business Impacts” to learn more.

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Mobile SecuritySecurity

Online Security Concerns Split UK Black Friday Shoppers

November 14, 2018 — by Radware — 0

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Shopping online on Black Friday Weekend can be a great way of getting the best deal as retailers slash prices across their range. But as security risks mount and hackers continue to target consumers’ personal data, could shoppers turn their backs on online stores and return to more traditional, secure methods?

To understand UK consumers’ attitudes to shopping online at Black Friday and how they balance security with convenience, Radware sought the opinions of 500 UK adults. The results show that an overwhelming majority—more than 70%—of UK consumers do not think companies are doing enough to protect their personal data on Black Friday. In fact, over 10% reported that they had personally been affected by a data breach.

As a result, 45% of respondents said they would not be shopping online, including 32% who said they would visit a physical store instead.

Security v. Convenience

The fear of having personal data compromised while shopping online is undeniable: 40% of UK consumers plan to change their online habits during Black Friday, including 25% who will reportedly only shop with well-known brands or will check that the website is secure before making a purchase.

These security concerns have resulted in a split approach to Black Friday shopping. 55% of the survey respondents stated that convenience, price or home delivery was worth the potential risk, while the remaining 45% preferred to avoid online shopping, including 32% who said they would visit a physical store instead. And for those aged 55 and older, more than 25% stated they would rather order by telephone.

The research shows that many consumers are aware of the risks of online shopping, and while some are willing to accept this for convenience and price, others are avoiding online shopping altogether. Organisations, especially retailers, need to invest in strong cybersecurity if they want to increase trust and attract new customers at key trading periods.

[You may also like: Consumer Sentiments About Cybersecurity and What It Means for Your Organization]

Data Culture

The research found that 12% of respondents had been the victim of a data breach, and this figure rose to 17% when including respondents who had received an alert from their bank that an attempt had been stopped.

While all age groups were affected by data breaches, those under 35 are more likely to utilize identity check websites and even the Dark Web in order to confirm whether their data has been breached.

Respondents were generally open about sharing their experiences online, with 44% saying they would tell a friend if they fell for a scam online to help them avoid the same fate. A further 16% said they would ask for help while 7% would try to solve any problems themselves. Only 3% would keep quiet out of embarrassment.

[You may also like: Millennials and Cybersecurity: Understanding the Value of Personal Data]

Connected Threats

With Internet-connected devices expected to be top-sellers this Black Friday, Radware also considered consumers’ opinions of connected devices and the threats they pose.

When asked who has responsibility for keeping connected devices secure, almost 40% responded that it was their personal responsibility. A further 20% said security was up to their Internet service provider, while 7% hold the device manufacturer responsible.

Only 3% placed responsibility with the UK Government, despite the recent creation of a voluntary Code of Practice aimed at consumer products, developed by the Department for Digital, Culture, Media and Sport (DCMS) and the National Cyber Security Centre (NCSC).

[You may also like: Growing Your Business: Security as an Expectation]

Opinions were again split on the risks of connected devices, with 52% saying security threats were outweighed by convenience, including 36% who said devices make their lives easier.

However, when told that unsecure devices could be used to spy or listen on owners, 25% were shocked it was even possible, 21% said they would put off using the devices, and 18% said they felt nervous in their own home.

While personal opinions vary regarding security vs. convenience, the overall sentiment is one of low trust in online retailers. At such a crucial shopping time of year, retailers must proactively convince consumers that their digital shopping experience is secure. In fact, security should be leveraged as a selling point to demonstrate that customer data safety takes priority over sales on Black Friday. Retailers that secure the customer experience and ensure customer data is safe will be the winners not only on Black Friday, but all year round.

METHODOLOGY: The survey was completed by Radware via a Google Survey conducted in November 2018 among a sample of 500 UK adults.

Read the “2018 C-Suite Perspectives: Trends in the Cyberattack Landscape, Security Threats and Business Impacts” to learn more.

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Application SecurityDDoS AttacksSecurity

The Million-Dollar Question of Cyber-Risk: Invest Now or Pay Later?

October 30, 2018 — by Radware — 0

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Cybersecurity is often an afterthought. Executives are quick to focus on the endgame benefits of customer-centric strategies, digital transformation, mobility, IoT and cloud computing, yet cybersecurity often falls by the wayside compared to these strategic initiatives. In fact, many executives view cybersecurity strictly as a cost center.

This cost-savings, bolt-on approach to implementing cybersecurity might yield short-term financial savings that leave the finance department feeling good. But it also leaves organizations in a “pay me now, pay me later” scenario that runs the risk of significant financial loss and damage to customer satisfaction and market reputation in the long run. Resulting breaches devalue and compromise any digital transformation and/or customer-facing programs, resulting in lost time, money and, most importantly, customer faith.

In an increasingly insecure world where security and availability are the cornerstones of the digital consumer, organizations must reevaluate how they balance the investment versus risk equation and alter how and when they implement cybersecurity.

THE TRUE COST OF A CYBERATTACK/DATA BREACH

To understand just how detrimental this approach can be to the long-term health of an organization requires a grasp of the true cost of a cyberattack and any resulting data breaches. Sadly, these types of statistics are often poorly understood by organizations. According to Radware, 80 percent of organizations don’t calculate the cost of cyberattacks. You can’t manage what you don’t measure.

Ultimately, cyberattacks are far more expensive than organizations realize. Not only in monetary costs but also by damage incurred to brand reputation, operational expenses and, most importantly, the impact on the customer experience.

As a starting point, cyberattacks cost, on average, more than 1 million USD/EUR, according to 40 percent of global executives. This figure represents the actual operational costs associated with “cleaning up” an attack. Five percent of executives estimate this cost to be more than 25 million USD/EUR. But these figures only represent the tip of the iceberg.

The larger, more damaging effect is the impact on customer loyalty and trust, brand damage and a wide array of other “hidden costs.” According to executives, the top three impacts from a cyberattack are:

  • 41% Customer loss
  • 34% Brand reputation loss
  • 34% Productivity/operational loss

Specifically, there is a high price for not securing the customer experience. In today’s digitally driven world where consumers own the relationship, the foundation of the customer experience is a mix of security and availability. When an organization’s customers have their data compromised, the price is steep. Customer attrition rates can increase by as much as 30 percent following a cyberattack. Moreover, organizations that lose over four percent of their customers following a data breach suffer an average total cost of $5.1 million. In addition to these direct impacts, there are “hidden” costs associated with a data breach as well, including increased insurance premiums, a lower credit rating, devaluation of trade name and loss of intellectual property. Lastly, there are legal fees as well because today’s customers are willing to retaliate. Forty-one percent of executives report that customers have taken legal action against their companies following a data breach. Target, among many name brands such as Panera Bread, Sears, and Saks, is just one well-publicized example of both the legal and customer loyalty impact that cyberattacks have had on name brands.

Flip The Paradigm

What if organizations could flip the paradigm? What if organizations could create a secure environment for their customers and, in the process, use security as a competitive differentiator?

That opportunity now exists because 21st-century digital consumers are asking if they are conducting business with organizations that are proactive about safeguarding their information and how they will fix it if a breach does occur. For example, consumers are now more concerned about having their personal data stolen than their physical possessions such as wallets, automobiles and house keys. High-profile attacks in recent years (and the resulting fallout) mean that cybersecurity and data protection is no longer a topic just for network analysts and IT professionals. It has transitioned from the back pages of tech publications to mainstream conversation.

The impact on businesses is twofold. Whereas companies were once reticent to speak publicly about cybersecurity because it could cause consumers to question their business’s fragility, they must now embrace and communicate their ability to safeguard customer data. Forward-thinking organizations must use security and due diligence as competitive differentiators to build trust and loyalty with customers in the face of an increasingly insecure world.

It is no longer about delivering a world-class experience. It is about delivering a SECURE, world-class experience. In today’s digitally driven, social media world where consumers own the relationship, security has to become the very fabric of the business.

So how are executives expected to accomplish this facing new security threats, tight budgets, a shortfall in cybersecurity professionals and the need to safeguard increasingly diversified infrastructures? The key is creating a secure climate for customers by embracing technology and change. Corporate networks are the linchpins of interactions with customers who expect responsive apps, fast performance and, above all, protection of their data.

To create this climate, research shows that executives must be willing to accept new technologies, be open-minded to new ideologies and embrace change. Executives committed to staying on top of this ever-evolving threat must break down the silos that exist in the organization to assess the dimensions of the risks across the enterprise and address these exposures holistically. Next is balancing the aforementioned investment versus risk equation. All executives will face tough choices when deciding where to invest resources to propel their companies forward. As the threat of cyberattacks becomes a question of when not if, C-suite executives must leverage the aforementioned data points and carefully evaluate the risks associated with security vulnerabilities and the costs of implementing effective security solutions. As identified in the same report, four in 10 respondents identify increasing infrastructure complexity, digital transformation plans and integration of artificial intelligence as putting pressure on security planning and budget allocation.

The stakes are high. Security threats can seriously impact a company’s brand reputation, resulting in customer loss, reduced operational productivity, and lawsuits. C-suite executives recognize the multiple pressures on their organizations to integrate new network technologies, transform their businesses and defend against cyberattacks. Those executives who are willing to embrace technology and change and prioritize cybersecurity will be the ones to win the trust and loyalty of the 21st-century consumer.

Read the “2018 C-Suite Perspectives: Trends in the Cyberattack Landscape, Security Threats and Business Impacts” to learn more.

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Attack Types & VectorsDDoSSecurity

DNS: Strengthening the Weakest Link

August 2, 2018 — by Radware — 0

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One in three organizations hit by DDoS attacks experienced an attack against their DNS server. Why is DNS such an attractive target? What are the challenges associated with keeping it secure? What attack vectors represent the worse of the worst when it comes to DNS assaults? Based on research from Radware’s 2017-2018 Global Application & Network Security Report, this piece answers all those questions and many more.

DDoSSecuritySSL

The Executive Guide to Demystify Cybersecurity

June 20, 2018 — by Radware — 0

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WHAT DO BANKS AND CYBERSECURITY HAVE IN COMMON? EVERYTHING

The world we live in can be a dangerous place, both physically and digitally. Our growing reliance on the Internet, technology and digitalization only makes our dependence on
technology more perilous. As an executive, you’re facing pressure both internally (from customers and shareholders) and externally (from industry compliance or government regulations) to keep your organization’s digital assets and your customers’ secure.

New cybersecurity threats require new solutions. New solutions require a project to implement them. The problems and solutions seem infinite while budgets remain bounded. Therefore, the challenge becomes how to identify the priority threats, select the solutions that deliver the best ROI and stretch dollars to maximize your organization’s protection. Consultants and industry analysts can help, but they too can be costly options that don’t always provide the correct advice.

So how best to simplify the decision-making process? Use an analogy. Consider that every cybersecurity solution has a counterpart in the physical world. To illustrate this point, consider the security measures at banks. They make a perfect analogy, because banks are just like applications or computing environments; both contain valuables that criminals are eager to steal.

 

The first line of defense at a bank is the front door, which is designed to allow people to enter and leave while providing a first layer of defense against thieves. Network firewalls fulfill the same role within the realm of cyber security. They allow specific types of traffic to enter an organization’s network but block mischievous visitors from entering. While firewalls are an effective first line of defense, they’re not impervious. Just like surreptitious robbers such as Billy the Kid or John Dillinger, SSL/TLS-based encrypted attacks or nefarious malware can sneak through this digital “front door” via a standard port.

Past the entrance there is often a security guard, which serves as an IPS or anti-malware device. This “security guard,” which is typically anti-malware and/or heuristic-based IPS function, seeks to identify unusual behavior or other indicators that trouble has entered the bank, such as somebody wearing a ski mask or perhaps carrying a concealed weapon.

Once the hacker gets past these perimeter security measures, they find themselves at the presentation layer of the application, or in the case of a bank, the teller. There is security here as well. Firstly, authentication (do you have an account) and second, two-factor authentication (an ATM card/security pin). IPS and anti-malware devices work in
concert with SIEM management solutions to serve as security cameras, performing additional security checks. Just like a bank leveraging the FBI’s Most Wanted List, these solutions leverage crowd sourcing and big-data analytics to analyze data from a massive global community and identify bank-robbing malware in advance.

[You might also like: Cybersecurity & Customer Experience: Embrace Technology and Change To Earn A Customer’s Loyalty]

THE EXECUTIVE GUIDE TO DEMYSTIFYING CYBERSECURITY

A robber will often demand access to the bank’s vault. In the realm of IT, this is the database, where valuable information such as passwords, credit card or financial transaction information or healthcare data is stored. There are several ways of protecting this data, or at the very least, monitoring it. Encryption and database
application monitoring solutions are the most common.

ADAPTING FOR THE FUTURE: DDOS MITIGATION

To understand how and why cybersecurity models will have to adapt to meet future threats, let’s outline three obstacles they’ll have to overcome in the near future: advanced DDoS mitigation, encrypted cyberattacks, and DevOps and agile software development.

A DDoS attack is any cyberattack that compromises a company’s website or network and impairs the organization’s ability to conduct business. Take an e-commerce business for example. If somebody wanted to prevent the organization from conducting business, it’s not necessary to hack the website but simply to make it difficult for visitors to access it.

Leveraging the bank analogy, this is why banks and financial institutions leverage multiple layers of security: it provides an integrated, redundant defense designed to meet a multitude of potential situations in the unlikely event a bank is robbed. This also includes the ability to quickly and effectively communicate with law enforcement.

In the world of cyber security, multi-layered defense is also essential. Why? Because preparing for “common” DDoS attacks is no longer enough. With the growing online availability of attack tools and services, the pool of possible attacks is larger than ever. This is why hybrid protection, which combines both on-premise and cloudbased
mitigation services, is critical.

Why are there two systems when it comes to cyber security? Because it offers the best of both worlds. When a DDoS solution is deployed on-premise, organizations benefit from an immediate and automatic attack detection and mitigation solution. Within a few seconds from the initiation of a cyber-assault, the online services are well protected and the attack is mitigated. However, on-premise DDoS solution cannot handle volumetric network floods that saturate the Internet pipe. These attacks must be mitigated from the cloud.

Hybrid DDoS protection aspire to offer best-of-breed attack mitigation by combining on-premise and cloud mitigation into a single, integrated solution. The hybrid solution chooses the right mitigation location and technique based on attack characteristics. In the hybrid solution, attack detection and mitigation starts immediately and automatically using the on-premise attack mitigation device. This stops various attacks from diminishing the availability of the online services. All attacks are mitigated on-premise, unless they threaten to block the Internet pipe of the organization. In case of pipe saturation, the hybrid solution activates cloud mitigation and the traffic is diverted to the cloud, where it is scrubbed before being sent back to the enterprise. An ideal hybrid solution also shares essential information about the attack between on-premise mitigation devices and cloud devices to accelerate and enhance the mitigation of the attack once it reaches the cloud.

INSPECTING ENCRYPTED DATA

Companies have been encrypting data for well over 20 years. Today, over 50% of Internet traffic is encrypted. SSL/TLS encryption is still the most effective way to protect data as it ties the encryption to both the source and destination. This is a double-edged sword however. Hackers are now leveraging encryption to create new,
stealthy attack vectors for malware infection and data exfiltration. In essence, they’re a wolf in sheep’s clothing.

To stop hackers from leveraging SSL/TLS-based cyberattacks, organizations require computing resources; resources to inspect communications to ensure they’re not infected with malicious malware. These increasing resource requirements make it challenging for anything but purpose built hardware to conduct inspection.

The equivalent in the banking world is twofold. If somebody were to enter wearing a ski mask, that person probably wouldn’t be allowed to conduct a transaction, or secondly, there can be additional security checks when somebody enters a bank and requests a large or unique withdrawal.

[You might also like: Cybersecurity & The Customer Experience: The Perfect Combination]

DEALING WITH DEVOPS AND AGILE SOFTWARE DEVELOPMENT

Lastly, how do we ensure that, as applications become more complex, they don’t become increasingly vulnerable either from coding errors or from newly deployed functionality associated with DevOps or agile development practices? The problem is most cybersecurity solutions focus on stopping existing threats. To use our bank analogy again, existing security solutions mean that (ideally), a career criminal can’t enter a bank, someone carrying a concealed weapon is stopped or somebody acting suspiciously is blocked from making a transaction. However, nothing stops somebody with no criminal background or conducting no suspicious activity from entering the bank. The bank’s security systems must be updated to look for other “indicators” that this person could represent a threat.

In the world of cybersecurity, the key is implementing a web application firewall that adapts to evolving threats and applications. A WAF accomplishes this by automatically detecting and protecting new web applications as they are added to the network via automatic policy generation.

It should also differentiate between false positives and false negatives. Why? Because just like a bank, web applications are being accessed both by desired legitimate users and undesired attackers (malignant users whose goal is to harm the application and/or steal data). One of the biggest challenges in protecting web applications is the ability to accurately differentiate between the two and identify and block security threats while not disturbing legitimate traffic.

ADAPTABILITY IS THE NAME OF THE GAME

The world we live in can be a dangerous place, both physically and digitally. Threats are constantly changing, forcing both financial institutions and organizations to adapt their security solutions and processes. When contemplating the next steps, consider the following:

  • Use common sense and logic. The marketplace is saturated with offerings. Understand how a cybersecurity solution will fit into your existing infrastructure and the business value it will bring by keeping your organization up and running and your customer’s data secure.
  • Understand the long-term TCO of any cyber security solution you purchase.
  • The world is changing. Ensure that any cyber security solution you implement is designed to adapt to the constantly evolving threat landscape and your organization’s operational needs.

Read the “2018 C-Suite Perspectives: Trends in the Cyberattack Landscape, Security Threats and Business Impacts” to learn more.

Download Now

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