Cisco acquires Splunk for $28 billion

Cisco, a prominent player in the networking industry, has recently completed a significant acquisition by purchasing cybersecurity solutions provider Splunk for a substantial sum of $28 billion. This announcement was made public through the company’s PR division, shedding light on the transformative impact this move will have on their threat detection capabilities and revenue growth.

Splunk is renowned for its ability to help organizations achieve digital resilience, and Cisco intends to harness the technology acquired from this acquisition to bolster the security of its users’ digital environments.

In today’s rapidly evolving digital landscape, businesses are increasingly embracing digitalization. To effectively navigate the overwhelming influx of data and safeguard data integrity against cyber threats, companies are actively seeking solutions that streamline data management and protection.

According to Cisco’s annual report for 2022, the big data market is projected to reach a staggering $400 billion by 2030, largely fueled by advancements in generative AI. To address the diverse needs of various markets while prioritizing security, Cisco has strategically chosen to simplify the complexities associated with AI security challenges through its acquisition of technology from Splunk.

It’s worth noting that Cisco had initially considered acquiring SentinelOne, but ultimately decided to withdraw from the deal due to concerns related to the calculation of annualized recurring revenue. This raised doubts within the networking giant about the software technology’s potential revenue generation post-acquisition.

The decision to pull out had a significant impact on the shares associated with SentinelOne, resulting in a sharp 35% decline from their value at the end of the previous week. This abrupt withdrawal occurred because the current market capitalization of SentinelOne was locked at $4.9 billion, which fell considerably short of Cisco’s estimated value of $8 billion for the deal.

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September 22, 2023 at 11:39AM

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WEBINAR: PCI DSS 4.0 Compliance – Tips and Best Practices to Avoid Last-Minute Panic

Join the webinar ‘PCI DSS 4.0 Compliance – Tips and Best Practices to Avoid Last-Minute Panic‘ live on September 26.

While the deadline for compliance with the Payment Card Industry Data Security Standard (PCI DSS) 4.0 requirements isn’t until March 31, 2024, organizations that allow those remaining months to fly by without adequate preparation may face last-minute PCI panic and penalties. The best approach is to steadily reach critical milestones, so you’ll be fully prepared when the deadline arrives.

Join Steven Sletten, Principal Systems Engineer with Fortra’s Tripwire, and Holger Schulze, Founder of Cybersecurity Insiders, for a look at:

– What is changing in the PCI 4.0 update
– How to avoid surprises by streamlining your timeline into a prioritized roadmap
– How to expertly tackle each of the requirements in time.

By starting early, you will be on the right path to making the transition a success.

Save your spot

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September 22, 2023 at 06:12AM

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Bringing Authentication Security Out of the Dark Ages

Cyber threats have grown increasingly sophisticated in recent years, with an expanding attack surface, today’s hybrid work environment and new vulnerabilities introduced by the IoT are a few of the challenges. Despite this evolving landscape, most organizations have yet to modernize their authentication security to effectively prevent password-based attacks and related vulnerabilities. With the most recent DBIR finding that compromised credentials are behind more than 50% of breaches, it’s imperative that companies act now to bolster authentication security.

To understand more about this issue, Enzoic recently commissioned a survey of over 480 cybersecurity professionals. The State of Authentication Security Report underscores that—despite the passwordless hype—username and password combinations remain the primary authentication mechanism, with nearly 70% of companies utilizing this method. By contrast, only 12% of organizations are deploying passwordless strategies.

Legacy Approaches Weakening Password Security

Unfortunately, many companies are failing to evolve password management to reflect the current threat landscape. What’s more, the majority of those surveyed continue to follow legacy practices that have actually been found to weaken credential security.

For example, 74% of companies require forced resets every 90 days or less. Not only does this generate more work for employees and IT alike, it also fails to align with NIST’s updated password policy recommendations. The latter, along with Microsoft and other leading organizations, have found that employees typically select easy-to-remember credentials or swap out one letter or character when faced with frequent resets—resulting in a weak credential that threat actors can easily exploit.

The Dark Web Dilemma

Password reuse is another problem contributing to authentication security challenges, with Google finding that employees reuse a single password an average of 13 different times. The volume of breaches means that the Dark Web has become a treasure trove of this information; hackers can easily find and obtain lists of compromised credentials to fuel ongoing password-based attacks.

Our research highlights that most companies are aware of this vulnerability, with 84% of respondents concerned about weak and compromised passwords. However, many fail to grasp the extent of the threat—46% estimate that less than 1/5 of their passwords could be found on the Dark Web, while another 26% are unsure what percentage might be available there.

The Case for Credential Screening

This underscores the importance of modernizing authentication security to incorporate screening for compromised credentials—something that less than half of the respondents in our survey are currently doing. Enzoic helps companies protect against this threat by screening password and username combinations against its proprietary database of billions of exposed credentials. We maintain the latter using a combination of proprietary automated processes, submitted contributions, and research from our threat intelligence team. Because our database is automatically updated multiple times per day, organizations can be assured that their password security reflects the latest breach intelligence.

Another key benefit of our credential screening solution is that it eliminates the IT helpdesk burden of frequent resets and other legacy approaches while offering a more frictionless user experience. Because the screening happens automatically in the background, non-compromised users gain efficient access to their accounts and services. Should a compromise be detected, organizations can automate their response with a range of actions, including the immediate disabling of the account in question.

The Path Forward

While there are many unknowns in cybersecurity, there is one universal truth: hackers will continually hunt for new ways to exploit companies for financial gain and other nefarious purposes. With the DBIR and other studies repeatedly pointing to compromised credentials as a common threat vector, it’s imperative that organizations act today and shore up authentication security.

You can read more about this issue and other findings from the State of Authentication Security Report here.

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September 21, 2023 at 11:49PM

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​​​​​​​Beyond the firewall: Navigating SaaS security challenges

The content of this post is solely the responsibility of the author.  AT&T does not adopt or endorse any of the views, positions, or information provided by the author in this article. 

Introduction:

In today’s digital age, businesses have witnessed a profound shift in how they operate. Software-as-a-Service (SaaS) solutions have become the backbone of many organizations, offering flexibility and scalability. While firewalls remain an essential part of cybersecurity, securing your digital assets in the SaaS realm is a multifaceted challenge. This article explores why investing in a firewall is only the beginning of your SaaS security journey and offers insights into a holistic approach to safeguarding your digital landscape.

The firewall’s vital role:

Firewalls are the sentinels of your network, guarding against unauthorized access, malware, and threats. They establish a secure perimeter around your organization, serving as the initial defense against external dangers.

Why firewalls alone fall short in the SaaS era:

Cloud migration:

SaaS applications thrive in the cloud, offering unprecedented advantages. This means your data and operations may no longer be confined to your corporate network, rendering traditional firewall-centric security less effective.

Proliferation of endpoints:

The traditional network perimeter has dissolved as employees utilize various devices and networks to access SaaS applications. This multitude of endpoints makes relying solely on firewalls inadequate.

Data’s complex journey:

SaaS applications handle vast amounts of sensitive data, often stored in remote data centers. Protecting data at rest and in transit within these centers requires specialized measures beyond the firewall’s scope.

Strategies to enhance SaaS security:

Access control and identity management:

Implement robust access control and identity management solutions. Ensure only authorized users can access your SaaS applications, incorporating multi-factor authentication (MFA) for an added layer of security.

Data encryption:

Employ data encryption for both data in transit and at rest. Most SaaS providers offer encryption features, but it’s essential to understand their encryption protocols and their alignment with your security needs.

Regular audits and compliance:

Conduct regular audits of your SaaS applications and providers to ensure compliance with industry standards and data protection regulations, such as GDPR or HIPAA. Verify that your vendors adhere to robust security practices.

Security Information and Event Management (SIEM):

Implement SIEM solutions for real-time visibility into your SaaS applications. These tools centralize security monitoring and facilitate incident response by detecting anomalies and potential breaches.

Data Loss Prevention (DLP):

Deploy DLP solutions to prevent data leaks and unauthorized sharing of sensitive information within your SaaS applications. These tools scan and classify data, enforcing policies to protect critical assets.

Security awareness training:

Invest in continuous security awareness training for your employees. Educated users are your first line of defense against phishing attacks and social engineering threats.

Collaboration with vendors and partners:

Vendor security assessments:

Collaborate closely with your SaaS providers to conduct thorough security assessments. Seek transparency concerning their security practices, incident response plans, and data protection measures.

Security Service Level Agreements (SLAs):

Negotiate and establish security SLAs with your SaaS vendors. Define expectations for security incident response times, data backup, and disaster recovery.

Regular updates and patch management:

Stay informed about security updates and patches for your SaaS applications. Ensure that your vendors promptly address security vulnerabilities.

Conclusion: Strengthening your SaaS security posture:

While a firewall remains a fundamental component of your cybersecurity strategy, it’s essential to recognize that safeguarding your organization’s digital assets in the SaaS world requires a multifaceted approach. Embrace a combination of access control, encryption, monitoring, and ongoing collaboration with SaaS vendors to build a robust SaaS security posture.

As the SaaS landscape continues to evolve, so too must your security strategy to adapt and mitigate emerging threats effectively. In the ever-changing world of cybersecurity, staying vigilant and proactive is your best defense.

The post ​​​​​​​Beyond the firewall: Navigating SaaS security challenges appeared first on Cybersecurity Insiders.

September 21, 2023 at 09:09PM

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Cyber Attack on International Criminal Court for arresting Russia Vladimir Putin

In March of this year, the International Criminal Court (ICC) based in The Hague made headlines by issuing an arrest warrant against Russian President Vladimir Putin. The allegations against Putin revolve around accusations of committing atrocities against innocent Ukrainian citizens under the guise of war. In response to this significant move by the ICC, a group of state-funded cyber-criminals has initiated a series of cyberattacks on the ICC, reportedly with the aim of pilfering sensitive documents.

These cyberattacks, which began at the close of last week, are still ongoing and continue to disrupt the court’s servers in The Hague. High-ranking officials have suggested that these attacks will persist until the United Nations Security Council helps withdraw the arrest warrant against Putin.

For context, The Hague serves as the capital city of South Holland and is home to both the International Criminal Court and the International Court of Justice. These institutions are tasked with investigating and adjudicating cases related to crimes against humanity, war crimes, genocide, and border disputes.

The Dutch government has responded swiftly to this situation, launching a comprehensive inquiry to determine the origins of these cyberattacks. Suspicion firmly points toward foreign involvement, prompting the Netherlands to seek the assistance of the Netherlands National Cyber Security Centre (NCSC) and the Ministry of Justice and Security.

It’s worth noting that the ICC holds the authority to investigate digital attacks stemming from war crimes. In this case, the court not only issued an arrest warrant against Putin but also imposed sanctions on the nation under his leadership.

Ironically, such warrants and related actions often come across as mere symbolic gestures to the public and the media. To date, no national leader has been successfully prosecuted on foreign soil.

Important to mention, the group behind these cyberattacks is known as “Killnet,” and it is widely believed to be a pro-Russian hacking group with a mission to disrupt critical infrastructure in adversary nations. Their primary goal is to create political instability in the targeted nation by disrupting its national infrastructure.

The post Cyber Attack on International Criminal Court for arresting Russia Vladimir Putin appeared first on Cybersecurity Insiders.

September 21, 2023 at 08:21PM

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T Mobile app customers experience data security concerns

Users of the T-Mobile App have recently encountered an unsettling phenomenon, with their account information displaying the personal data of other users. This concerning breach includes sensitive information such as credit card details, billing history, physical addresses, credit balances, and their affiliations with the telecommunications company.

As the issue gained traction, a number of users sought assistance from T-Mobile’s customer service. However, some expressed dissatisfaction with the customer care response and turned to platforms like Twitter and Reddit to vent their frustration. Their primary concern was the security of their personal data in light of this alarming situation.

Acknowledging the incident, T-Mobile confirmed its awareness and revealed that its engineering team was diligently working to rectify the data leak. This subsidiary of Germany’s Deutsche Telekom AG assured that further details would be shared with the media once forensic experts officially determined the extent of the breach.

From a technical perspective, this incident may not qualify as a traditional data breach. Nevertheless, the inadvertent sharing of one user’s information with another can have serious repercussions, particularly if such data were to fall into the hands of malicious actors.

It’s worth noting that T-Mobile has faced cybersecurity challenges in the past. In 2021, the company fell victim to a sophisticated cyberattack that compromised the personal data of over 100 million customers, including dates of birth and home addresses. A similar data breach occurred in January 2023, affecting more than 37 million customers and resulting in the unauthorized exposure of social security numbers.

As an update, after approximately four hours, the situation appears to be under control as reported by the Telekom operator. Nonetheless, the incident serves as a stark reminder of the importance of robust cybersecurity measures in safeguarding user information.

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September 21, 2023 at 10:34AM

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Eco-hacks: The intersection of sustainability and cyber threats

The content of this post is solely the responsibility of the author.  AT&T does not adopt or endorse any of the views, positions, or information provided by the author in this article. 

Environmental sustainability is more important than ever before for organizations across all sectors. Sustainability concerns including geopolitics, future-focused developments, advanced ESG reporting, and building sustainability into supply chains going forward are all significant trends shaping businesses in 2023 and beyond. 

While the shift towards environmental sustainability is a worthy pursuit no matter the industry, the trend towards adopting new technologies that provide more sustainability and eco-friendliness can have some unintended consequences on the realm of cybersecurity. 

Today we can see many hybrid endeavors that combine both cutting-edge technology and green, eco-friendly initiatives to create long-term ecologically sustainable solutions for businesses in all fields. But since these collaborations tend to utilize new technology, they may not provide the kind of advanced-level cybersecurity protocols needed to secure these endeavors against cyberattacks, resulting in unintended consequences: an increase in cyber vulnerabilities. 

In this article, we will take an in-depth look at the enhanced cybersecurity risks presented by certain sustainability and tech initiatives. Then we will explore best practices intended to keep businesses cyber secure as they transition to new, more environmentally friendly modes of operation and production. 

1. The unexpected cybersecurity risks of going green

While new green technology rollouts provide highly visible, obvious benefits, contributing to the important global cause of sustainability, the cybersecurity underpinnings that run in the background are easy to ignore but no less significant. There is a subtle interdependence between new green tech and expanded cybersecurity risks.

2. New developments in green technology

New developments in green technology are vast and wide-ranging, offering revolutionary potential to cut down on harmful greenhouse gas emissions. By some estimates, Green IT can contribute to reducing greenhouse gas emissions by ten times more than it emits. Green coding focuses on creating more energy efficient modes of engaging computational power that can be applied to everything from virtual reality gaming devices in development to cloud computing. 

Sustainable data collection centers aim to reduce carbon and greenhouse gas emissions by finding alternative methods of collecting data that require less energy. 

Smart city technology, such as IoT-enabled power grids, smart parking meters, and smart traffic controls, can utilize predictive capabilities to ensure that urban infrastructures are running at optimal energy levels, reducing resource and energy waste and improving city living experiences. Similarly, smart HVAC systems can respond to global climate change issues by managing the internal temperature of buildings using smart regulators that reduce energy waste and carbon emissions, while still heating or cooling buildings. 

All of these innovations are building towards a more sustainable future by reducing our need for harmful fossil fuel consumption, managing power usage across the energy grid, and creating more sustainable alternatives to existing technologies for transportation, waste management, entertainment, and more. But each of these new technologies also presents a broader risk level that could threaten the foundations of urban cores. 

3. New green tech risks

One of the main risks introduced by all of this new sustainable technology is the expanded attack surface. Sustainable smart city adjustments, for example, operate within broad networks of interconnected devices. Each individual device can communicate and receive data from other devices, but individual devices are often poorly protected. 

So bad actors may be able to access sensitive data or broader urban infrastructure network systems by infiltrating one poorly protected device. IoT networks rely on a combination of hardware, software, third-party developments, and urban networks to run smoothly- a complex combination that is hard to regulate, protect, and control. This is especially true as older, poorly protected gadgets communicate with the latest high-tech citywide smart systems, creating inherent security vulnerability weak spots that can be easily exploited by bad actors.  

In the energy field, meanwhile, interconnected power systems using new sources of power, such as wind, solar, and energy efficient battery power, run through software-optimized systems that provide an efficient mode of distributing energy and conducting system-wide changes. But in the wrong hands, this consolidated ease of access could lead to widespread damages, with the centralized sustainable power controls becoming weapons of manipulation and chaos. 

Social engineering attacks can also have serious effects on complex interdependent urban systems, as phishing attacks can provide access to restricted systems, networks, or other sensitive data. Successful social engineering attacks provide opportunities for exploitation and manipulation of citywide systems through the installation of malware, spyware, and ransomware. Humans are susceptible to simple errors, and a convincing phishing attack can lead to immediate consequences, such as cutting off access to power throughout the region, rerouting transportation lines or traffic lights, disabling smart security systems, or other actions that can have broad damaging effects across a huge area. 

4. Green cyber-attacks

According to Reuters, E.ON, Europe’s largest energy grip operating company, has observed a significant spike in cyber-attacks in recent years, as has Norwegian clean energy company Hydro. Because the clean energy world is more decentralized, it presents more opportunity for cyber attackers to target small energy or communications hubs.

In Ukraine, for example, Russian operatives enacted cyberattacks on the Ukrainian satellite communication network, resulting in the remote shutdown of security monitors at German wind energy company Enercon. The attack shut down over 5,800 wind turbines at the German company, revealing high stakes vulnerabilities intrinsic to new Green technologies. 

5. Best practices to remain cyber-secure as you go green

Becoming aware of the enhanced risk potential of green technology is key to developing appropriate security measures that can mitigate risks and protect sensitive networks and data. Companies can provide necessary security by deploying advanced level security measures, monitoring risk factors, and enabling comprehensive threat response and prevention plans to proactively deal with the impact of impending cyberattacks- and prevent widespread damages. 

6. Deploy high tech security solutions

One of the key features of every new technology should be creating a resilient infrastructure through a combined protective plan that includes threat detection, incident response protocols, and proactive data protection. For new green tech developments, organizations will need to provide comprehensive security that can block against phishing, unauthorized network access, ransomware, spyware, malware, denial-of-service attacks, and a host of other cyberattack methodologies. 

Implementing zero-trust security regulations is a good strategy for preventing unauthorized log-ins across the board, and this security method can be applied to all devices and networks within an interconnected system. Zero-trust security is more secure than multi-factor authentication since it assumes that every log-in attempt is unauthorized until proven otherwise. This makes it an effective strategy for external attack surface management, or the mitigation of risks and vulnerabilities that are associated with an organizations’ external facing assets, such as its network infrastructure or website. 

In addition, AI and machine learning-enabled security systems, such as cloud-based SIEM systems, draw from a comprehensive knowledge base of collaborative input to provide enhanced cybersecurity coverage across devices and network systems. Cloud-based SIEM systems continuously monitor user behavior, seeking out any unusual, potentially suspicious activity, and can therefore detect anomalous behaviors that might slip through the notice of other security protections. 

7. Follow national security regulations

Compliance with national cybersecurity standards and rules is another significant step towards ensuring that new green technology has sufficient base-level protective measures in place. In order to remain compliant with national security regulations, organizations have to assess their own security gaps and vulnerabilities, providing security patches and proof of regular security updates. 

Additional regulatory compliance requirements include encryption of sensitive data, which can prevent unwanted access to sensitive data, and comprehensive cybersecurity incident response plans which are necessary for mitigating the damages of any successful cyber-attacks. General employee and staff cybersecurity training also keeps organizations compliant with government regulations- and ensures that employees are aware of the risks and signs of phishing and social engineering cyber-attack attempts. 

8. Continuously monitor the dark web

Using dark web monitoring tools to continuously monitor the dark web can be a powerful strategy for identifying likely threats, bad actors, and hacking plots. In terms of cybersecurity management and upkeep, monitoring the dark web provides insight into whether or not an organization has already, unknowingly, been the victim of a cyberattack in which their sensitive data is already being leaked on the dark web. 

When sensitive information such as employee addresses or client financial details are floating around on the dark web, it is clear that there has been a serious security breach enacted on an organization. So consistent monitoring can go a long way towards mitigating the damages of successful cyberattacks. 

9. Final thoughts

Climate resilience and cyber resilience need to be inextricably linked going forward if we are to create a truly sustainable, interconnected world. Sustainability initiatives that utilize the latest and greatest in new technology need to include abundant provisions for cybersecurity, regarding cybersecurity with equal significance as the environmental impact of the technology itself. 

Measures like managing external attack surfaces, ensuring that devices and systems are code compliant with national security regulations, enacting high tech cybersecurity protective measures, and consistently monitoring the dark web can help reduce the impact and risk of cyberattacks on all sustainable tech devices and systems. With ample protections in place, developers can continue to roll out new green technologies that will provide radical solutions for making a more sustainable world.

The post Eco-hacks: The intersection of sustainability and cyber threats appeared first on Cybersecurity Insiders.

September 21, 2023 at 09:45AM

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