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Security

Executives Are Turning Infosec into a Competitive Advantage

June 18, 2019 — by Anna Convery-Pelletier0

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Companies are more connected to their customers now than ever before.  After spending billions to digitally transform themselves, organizations have exponentially increased the number of touchpoints as well as the frequency of communication they have with their customer base. 

Thanks to digital transformation, organizations are more agile, flexible, efficient, and customer-centric. However, with greater access to customers comes an equal measure of increased vulnerability. We have all seen the havoc that a data breach can wreak upon a brand; hackers are the modern-day David to the Goliaths of the Fortune 1000 world. As a result, we have experienced a fundamental shift in management philosophy around the role that information security plays across organizations. The savviest leaders have shifted from a defensive to offensive position and are turning information security into a competitive market advantage.

Each year, Radware surveys C-Suite executives to measure leadership sentiment around information security, its costs and business impacts.  This year, we studied the views and insights from 263 senior leaders at organizations primarily with revenue in excess of 1 billion USD/EUR/GBP around the world. Respondents represented 30% financial services, 21% retail/hospitality, 21% telecom/service provider, 7% manufacturing/distribution, 7% computer products/services, 6% business services/consulting, and 9% other.

This year’s report shines a spotlight on increased sophistication of management philosophy for information security and security strategy. While responsibility for cybersecurity continues to be spearheaded by the CIO and CISO, it is also being shared throughout the entire C-Suite.

[You may also like: How Cyberattacks Directly Impact Your Brand]

In fact, 72% of executives responding to our survey claimed that it’s a topic discussed in every board meeting. 82% of responding CEOs reported high levels of knowledge around information security, as did 72% of non-technical C-Suite titles – an all-time high! Security issues now influence brand reputation, brand trust, and consumer trust, which forces organizations to infuse information security into core business functions such as customer experience, marketing and business operations.

All with good reason. The average cost of a cyberattack is now roughly $4.6M, and the number of organizations that claim attacks cost them more than $10M has doubled from 2018 to 2019.

Customers are quite aware of the onslaught of data breaches that have affected nearly every industry, from banking to online dating, throughout the past ten years. Even though many governments have passed many laws to protect consumers against misuse of their data, such as GDPR, CASL, HIPPA, Personally Identifiable Information (PII), etc., companies still can’t keep up with the regulations. 

[You may also like: The Costs of Cyberattacks Are Real]

Case in point: 74% of European executives report they have experienced a data breach in the past 12 months, compared to 53% in America and 44% in APAC. Half (52%) of executives in Europe have experienced a self-reported incident under GDPR in the past year.  

Consumer confidence is at an all-time low. These same customers want to understand what companies have done to secure their products and services and they are willing to take their business elsewhere if that brand promise is broken. Customers are increasingly taking action following a breach. 

[You may also like: How Do Marketers Add Security into Their Messaging?]

Reputation management is a critical component of organizational management. Savvy leaders recognize the connection between information security and reputation management and subsequently adopted information security as a market advantage.

So How Do Companies Start to Earn Back Trust?

These leaders recognize that security must become part of the brand promise. Our research shows that 75% of executives claim security is a key part of their product marketing messages. 50% of companies surveyed offer dedicated security products and services to their customers. Additionally, 41% offer security features as add-ons within their products and services, and another 7% are considering building security services into their products.

Balancing Security Concerns with Deployment of Private and Public Clouds

Digital transformation drove a mass migration into public and private cloud environments.  Organizations were wooed by the promise of flexibility, streamlined business operations, improved efficiency, lower operational costs, and greater business agility. Rightfully so, as cloud environments have largely fulfilled their promises.

[You may also like: Excessive Permissions are Your #1 Cloud Threat]

However, along with these incredible benefits comes a far greater risk than most organizations anticipated. While 54% of respondents report improving information security is one of their top three reasons for initiating digital transformation processes, 73% of executives indicate they have had unauthorized access to their public cloud assets.  What is more alarming is how these unauthorized access incidents have occurred.

The technical sophistication of the modern business world has eroded the trust between brands and their customers, opening the door for a new conversation around security. 

Leading organizations have already begun to weave security into the very fabric of their culture – and it’s evidenced by going to market with secure marketing messages (as Apple’s new ad campaigns demonstrate), sharing responsibility for information security across the entire leadership team, creating privacy-centric business policies and processes, making information security and customer data-privacy part of an organization’s core values, etc.  The biggest challenges organizations still face is in how best to execute it, but that is a topic for another blog…

To learn more about the insights and perspectives on information security from the C-Suite, please download the report.

Read “2019 C-Suite Perspectives: From Defense to Offense, Executives Turn Information Security into a Competitive Advantage” to learn more.

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Security

Bot Managers Are a Cash-Back Program For Your Company

April 17, 2019 — by Ben Zilberman1

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In my previous blog, I briefly discussed what bot managers are and why they are needed. . Today, we will conduct a short ROI exercise (perhaps the toughest task in information security!).

To recap: Bots generate a little over half of today’s internet traffic. Roughly half of that half (i.e. a quarter, for rusty ones like myself…) is generated by bad bots, a.k.a. automated programs targeting applications with the intent to steal information or disrupt service. Over the years, they have gotten so sophisticated, they can easily mimic human behavior, perform allegedly uncorrelated violation actions and essentially fool most application security solutions out there.

Bot, bot management, traffic

These bots affect each and every arm of your business. If you are in the e-commerce or travel industries, no need to tell you that… if you aren’t, go to your next C-level executive meeting and look for those who scratch their heads the most. Why? Because they can’t understand where the money goes, and why the predicted performance didn’t materialize as expected.

Let’s go talk to these C-Suite executives, shall we?

Chief Revenue Officer

Imagine you are selling product online–whether that’s tickets, hotel rooms or even 30-pound dog food bags–and this is your principal channel for revenue generation. Now, imagine that bots act as faux buyers, and hold the inventory “hostage” so genuine customers can not access them.

[You may also like: Will We Ever See the End of Account Theft?]

Sure, you can elapse the process every 10 minutes, but as this is an automated program, it will re-initiate the process in a split second. And what about CAPTCHA? Don’t assume CAPTCHA will weed out all bots; some bots activate after a human has solved it. How would you know when you are communicating with a bot or a human? (Hint: you’d know if you had a bot management solution).

Wondering why the movie hall is empty half the time even though it’s a hot release? Does everybody go to the theater across the street? No. Bots are to blame. And they cause direct, immediate and painful revenue loss.

[You may also like: Bots 101: This is Why We Can’t Have Nice Things]

Chief Marketing Officer

Digital marketing tools, end-to-end automation of the customer journey, lead generation, and content syndication are great tools that help CMOs measure ROI and plan budgets. But what if the analysis they provide are false? What if half the clicks you are paying for are fictitious, and you were subject to a click-fraud campaign by bots? What if a competitor uses a bot to scrape data of registrants out of your landing pages? Unfortunately, bots often skew the analysis and can lead you to make wrong decisions that result in poor performance. Without bot management, you’re wasting money in vain.

Chief Operations Officer/Chief Information Officer

Does your team complain that your network resources are in the “red zone,” close to maximum performance, but your customer base isn’t growing at the same pace?

Blame bots.

[You may also like: Disaster Recovery: The Big, Bad Bot Problem]

Obviously some bots are “good,” like automated services that help accelerate and streamline your business, analyze data quickly and help you to make better decisions. However, bad bots (26% of the total traffic you are processing) put a load on your infrastructure and make your IT staff cry for more capacity. So you invest $200-500K in bigger firewalls, ADCs, and broader internet pipes, and upgrade your servers.

Next thing you know, a large DDoS attack from IoT botnets knocks everything down. If only you had invested $50k upfront to filter out the bad traffic from the get-go… That could’ve translated to $300k cash back!

Chief Information Security Officer

Every hour, a new security vendor knocks on your door with another solution for a 0.0001% probability what-if scenario… your budget is all over the place, spent on multiple protections and a complex architecture trying to take an actionable snapshot of what’s going on at every moment. At the end of the day, your task is to protect your company’s information assets. And there are so many ways to get a hold of those precious secrets!

[You may also like: CISOs, Know Your Enemy: An Industry-Wise Look At Major Bot Threats]

Bad bots are your enemy. They can scrape content, files, pricing, and intellectual property from your website. They can take over user accounts by cracking their passwords or launch a credential stuffing attack (and then retrieve their payment info). And they can take down service with DDoS attacks and hold up inventory, as I previously mentioned.

You can absolutely reduce these risks significantly if you could distinguish human versus bot traffic (remember, sophisticated bots today can mimic human behavior and bypass all sorts of challenges, not only CAPTCA), and more than that, which bot is legitimate and which is malicious.

[You may also like: Bot or Not? Distinguishing Between the Good, the Bad & the Ugly]

Bot management equals less risk, better posture, stable business, no budget increases or unexpected expenses. Cash back!

Chief Financial Officer

Your management peers could have made better investments, but now you have to clean up their mess. This can include paying legal fees and compensation to customers whose data was compromised, paying regulatory fines for coming up short in compliance, shelling out for a crisis management consultant firm, and absorbing costs associated with inventory hold up and downed service.

If you only had a bot management solution in place… so much cash back.

The Bottom Line

Run–do not walk–to your CEO and request a much-needed bot management solution. Not only does s/he have nothing to lose, s/he has a lot to gain.

* This week, Radware integrates bot management service with its cloud WAF for a complete, fully managed, application security suite.

Read “Radware’s 2018 Web Application Security Report” to learn more.

Download Now

Security

Cybersecurity & Customer Experience: Embrace Technology and Change To Earn A Customer’s Loyalty

June 12, 2018 — by Anna Convery-Pelletier0

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Consumers demand a secure, world-class experience, but when organizations deploy new applications and services to deliver that experience, customer data is put at risk. If forward-thinking organizations are using security as a competitive differentiator to build loyalty with customers, 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?