Connect with us

Technology

Companies must focus on managing cyber attacks, not eliminating them

Published

on

Companies trying to stay ahead of the increasing threat of cyberattacks need to be cognizant of one simple fact: there is no perfect antidote or turnkey solution against criminals bent on breaching their systems. (Photo by WOCinTech Chat/Flickr, CC BY 2.0)

Companies trying to stay ahead of the increasing threat of cyberattacks need to be cognizant of one simple fact: there is no perfect antidote or turnkey solution against criminals bent on breaching their systems. (Photo by WOCinTech Chat/Flickr, CC BY 2.0)

TORONTO — Companies trying to stay ahead of the increasing threat of cyberattacks need to be cognizant of one simple fact: there is no perfect antidote or turnkey solution against criminals bent on breaching their systems.

“Everyone is hacking into everything,” said Benoit Dupont, professor of criminology at the University of Montreal and the Canada Research Chair in Cybersecurity.

“Even the most secure, aware organizations like the top intelligence agencies in the world get hacked,” he said, pointing to a report in the New York Times last month that the cyberweapons developed by the National Security Agency to spy on other countries are now being used against it, thanks to a leak.

The number of Canadian businesses experiencing losses of $1-million or more rose to seven per cent from just one per cent two years ago, according to a 2017 report by the Canadian Chamber of Commerce.

With each passing year, hacking has become more dangerous, sophisticated and difficult to prevent — and solely ramping up spending on cybersecurity is not a viable solution for any organization, experts warn.

What’s required when it comes to cyber preparedness, Benoit and others argue, is a radical overhaul of the entire ecosystem that accounts for the significant role that human error plays in breaches — from confidential data sent to insecure home systems, to phishing schemes that rely on tricking people into giving up sensitive information belonging to their employer.

At a minimum, organizations should ensure that mechanisms are in place to minimize the damage caused by inevitable cyber-infiltrations so that if criminals are able to breach a system they won’t necessarily be able to exit with anything of value.

That starts with prioritizing the information that organizations must protect, said Christian Leuprecht, national security expert at the Royal Military College and Queen’s University.

“People think there is such a thing as privacy and that you can keep things secret. We need to come to the realization that’s not possible,” said Leuprecht.

“We need to say 90 per cent of stuff that becomes public, we can live with that. And here’s the stuff that we have to protect at any and all cost, and where we’re going to put all our efforts into protecting that.”

Surprisingly, encryption — in which data is translated into a secret code that can only be accessed by using a secret key or password to decrypt the documents into plain text — is one measure few companies seem to be adopting, said Satyamoorthy Kabilan, director of national security and strategic foresight at the Conference Board of Canada.

“The fact that every time we hear about someone’s system being breached and people are able to read the details tells you a lot,” Kabilan added.

Encryption, however, isn’t a viable long-term cyber-strategy for companies that need to have constant access to data themselves, according to Andre Boysen, chief identity officer at Toronto-based SecureKey.

“It’s going to make it harder for the business to read the data,” he said. “It’s got limited usefulness.”

Typically, such companies instead rely on constantly monitoring what’s happening on their network — a feat no human can succeed at, even with organizations leveraging more artificial intelligence and algorithms to determine suspicious activities and identify them before hackers get access to their crown jewels.

“We always assume people are hacking near perfect systems,” said Leuprecht. “We have major human errors in the way the systems are set up. Most people actually run terrible operations including some of the largest in the country.”

Failure to patch and update systems is another area where human error causes critical fallout, Kabilan noted.

“It’s so much of a non-starter that it’s not being done,” he said, referencing the WannaCry ransomware attack, which infected hundreds of thousands of computers in May and scrambled data at hospitals, factories, government agencies, banks and other businesses around the world.

“(WannaCry) spread because some people clicked on a link but the reason it proliferated was that it took advantage of an unpatched system.”

Organizations need to get a better handle on setting up simple deterrents to make it as unattractive as possible to try to steal information, said Leuprecht.

“For instance, if you’re storing credit card information, or things that have lots of numbers, you can create fake versions of them … So if somebody gets a hold of all these numbers they don’t know what the fakes are and what the real ones are,” said Leuprecht.

“If you’re just an organized criminal operation that’s trying to extract financial data, you don’t want to invest millions of dollars and hours trying to sift through all the data to figure out what’s real, what’s fake, what’s usable.”

Other effective methods not being used by companies are exfiltration detectors that examine outgoing data and block any documents that are intended to remain inside the network, he added.

“This is not rocket science,” said Leuprecht. “You have a water main break, you shut it down.”

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

PBBM PBBM
Business and Economy4 mins ago

Filipinos in Hawaii ‘confident’ about PH response on WPS — official

MANILA – Department of Finance (DOF) Secretary Ralph Recto said he expects dividend collections from government-owned- or controlled corporations (GOCCs) to...

Philippine Coast Guard spokesperson for the West Philippine Sea Commodore Jay Tarriela Philippine Coast Guard spokesperson for the West Philippine Sea Commodore Jay Tarriela
News10 mins ago

PH refusal to use water cannons proves peace efforts in WPS

MANILA – President Ferdinand R. Marcos Jr.’s refusal to use water cannons is proof that the country does not wish to...

Two persons using their phones Two persons using their phones
News14 mins ago

Illegal online gambling sites rising; Globe blocks over 1K sites

MANILA – Telecommunications firm Globe Telecom Inc. (Globe) has noted a 967 percent increase in the number of illegal online gambling...

Surigao del Norte 2nd District Rep. Robert Ace Barbers Surigao del Norte 2nd District Rep. Robert Ace Barbers
News18 mins ago

WPS charade aims to veer attention from China’s ‘creeping invasion’

MANILA – Surigao del Norte 2nd District Rep. Robert Ace Barbers on Monday denounced the continuing lies, false narratives and propaganda...

PBBM PBBM
News25 mins ago

PBBM: Remitted GOCC dividends to help improve Filipinos’ lives

MANILA – President Ferdinand R. Marcos Jr. assured Government-Owned or -Controlled Corporations (GOCCs) Monday that the dividends they remit to the...

Student climbing a footbride Student climbing a footbride
Headline29 mins ago

Marcos hopes old school calendar back by next year

MANILA – President Ferdinand R. Marcos Jr. on Monday said he is hoping to have the old school calendar back by...

News36 mins ago

BRP Andres Bonifacio back to WPS patrols after comms, sensor upgrade

MANILA – The BRP Andres Bonifacio (PS-17), one of the Philippine Navy (PN)’s three offshore patrol vessels, is back to its...

PBBM PBBM
Headline40 mins ago

PBBM to certify as urgent Rice Tariffication Law revision

MANILA – President Ferdinand R. Marcos Jr. on Monday said he would certify as urgent the bill proposing to amend the...

PBBM PBBM
News43 mins ago

Marcos rejects use of water cannons to retaliate vs. Chinese vessels

MANILA – President Ferdinand R. Marcos Jr. on Monday said the Philippines will not use water cannons to retaliate against China’s...

News47 mins ago

Expectations high on revitalized PH-US ties

HONOLULU, Hawaii – Filipinos in Hawaii are hoping the improved Philippines-United States relations will translate into more economic engagements — a...

WordPress Ads