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GUEST ESSAY: Cyber insurance 101 — for any business operating in today’s digital environment

By Cynthia Lopez Olson

Cyberattacks are becoming more prevalent, and their effects are becoming more disastrous. To help mitigate the risk of financial losses, more companies are turning to cyber insurance.

Related: Bots attack business logic

Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.

These risks are normally not covered by a general liability policy, which includes coverage only for injuries and property damage. In general, cyber insurance covers things like:

•Legal fees and expenses to deal with a cybersecurity incident

•Regular security audit

•Post-attack public relations

•Breach notifications

•Credit monitoring

•Expenses involved in investigating the attack

•Bounties for cyber criminals

In short, cyber insurance covers many of the expenses that you’d typically face in the wake of cybersecurity event. …more

MY TAKE: Why we should all now focus on restoring stability to US-Iran relations

By Byron V. Acohido

As tensions escalate between the U.S. and Iran it’s vital not to lose sight of how we arrived at this point.

Related: We’re in the golden age of cyber spying

Mainstream news outlets are hyper focused on the events of the past six days. A Dec. 27 rocket attack on a military base in northern Iraq killed an American contractor and a number of service members. Protesters attacked the US embassy in Baghdad. President Trump then retaliated by ordering a drone strike that killed a top Iranian military leader,  Gen. Qasem Soleimani.

The open assassination of a top Middle East official has ignited a social media frenzy about how we very well may be on the brink of World War III. I very much hope cooler heads prevail.

Iran accord scuttled

A starting point for cooling things off would be for news pundits — as well as anyone who considers himself or herself a social media influencer, i.e, someone who fosters community discussions — to recall the hostile shove Trump gave Iran last May.

That’s when Trump scuttled the 2015 Iran nuclear deal – which was the result of 10 years of negotiation between Iran and the United Nations Security Council. The 2015 Iran accord, agreed to by President Obama, set limits on Iran’s nuclear programs in exchange for the lifting of nuclear-related sanctions.

For his own reasons, Trump declared the 2015 Iran accord the “worst deal ever,” and has spent the past several months proactively escalating tensions with Iran, for instance, by unilaterally imposing multiple rounds of fresh sanctions.

This, of course, pushed Iran into a corner, and, no surprise, Iran has pushed back. It’s important to keep in mind that Iran, as well as Europe and the U.S., were meeting the terms of the 2015 nuclear deal, prior to Trump scuttling the deal. …more

GUEST ESSAY: When cyber risks rise in 2020, as they surely will, don’t overlook physical security

By Vidya Muthukrishnan

Physical security is the protection of personnel and IT infrastructure (such as hardware, software, and data) from physical actions and events that could cause severe damage to an organization. This includes protection from natural disasters, theft, vandalism, and terrorism.

Related: Good to know about IoT

Physical security is often a second thought when it comes to information security. Despite this, physical security must be implemented correctly to prevent attackers from gaining physical access and taking whatever they desire.

This could include expensive hardware, or access to sensitive user and/or enterprise security information. All the encryption, firewalls, cryptography, SCADA systems, and other IT security measures would be useless if that were to occur.

Traditional examples of physical security include junction boxes, feeder pillars, and CCTV security cameras. But the challenges of implementing physical security are much more problematic than they were previously. Laptops, USB drives, and smartphones can all store sensitive data that can be stolen or lost. Organizations have the daunting task of trying to safeguard data and equipment that may contain sensitive information about users. …more

MY TAKE: Why it’s now crucial to preserve PKI, digital certificates as the core of Internet security

By Byron V. Acohido

For decades, the cornerstone of IT security has been Public Key Infrastructure, or PKI, a system that allows you to encrypt and sign data, issuing digital certificates that authenticate the identity of users.

Related: How PKI could secure the Internet of Things

If that sounds too complicated to grasp, take a look at the web address for the home page of this website. Take note of how the URL begins with HTTPS.  The ‘S’ in HTTPS stands for ‘secure.’ Your web browser checked the security certificate for this website, and verified that the certificate was issued by a legitimate certificate authority. That’s PKI in action.

As privacy comes into sharp focus as a priority and challenge for cybersecurity, it’s important to understand this fundamental underlying standard.

Because it functions at the infrastructure level, PKI is not as well known as it should be by senior corporate management, much less the public. However, you can be sure cybercriminals grasp  the nuances about PKI, as they’ve continued to exploit them to invade privacy and steal data.

Here’s the bottom line: PKI is the best we’ve got. As digital transformation accelerates, business leaders and even individual consumers are going to have to familiarize themselves with PKI and proactively participate in preserving it. The good news is that the global cybersecurity community understands how crucial it has become to not just preserve, but also reinforce, PKI. Google, thus far, is leading the way. …more

GUEST ESSAY: Addressing DNS, domain names and Certificates to improve security postures

By Vincent D’Angelo

In 2019, we’ve seen a surge in domain name service (DNS) hijacking attempts and have relayed warnings from the U.S. Cybersecurity and Infrastructure Agency, U.K.’s Cybersecurity Centre, ICANN, and other notable security experts. Although, the topic has gained popularity amongst CIOs and CISOs, most companies are still overlooking important security blind spots when it comes to securing their digital assets outside the enterprise firewalls—domains, DNS, digital certificates.

D’Angelo

In fact, most organizations, regardless of geographic location or industry, are exposed to these risks. Our most recent Domain Name Security report featuring insights from the defense, media, and financial sectors illustrates the risk trends.

•Do you know who your domain name registrar is (the domain name management company that holds the keys to the kingdom)?

•What do you know about your domain name registrar’s controls, security, policies and processes?

I like to think of this topic like the electricity that powers our homes. Everyone expects their lights to work, but then, what happens when the power goes out? In the enterprise environment, domain names, DNS, and certificates are the lifeline to any internet-based application including websites, email, apps, virtual private networks (VPNs), voice over IP (VoIP) and more. …more

Last Watchdog’s IoT and ‘zero trust’ coverage win MVP awards from Information Management Today

By Byron V. Acohido

I’m privileged to share news that two Last Watchdog articles were recognized in the 2019 Information Management Today MVP Awards. My primer on the going forward privacy and security implications of IoT — What Everyone Should Know About the Promise and Pitfalls of the Internet of Things — won second place in the contest’s IoT Security category.

In addition, my coverage of how the zero trust authentication movement is improving privacy and security at a fundamental level — Early Adopters Find Smart ‘Zero Trust’ Access Improves Security Without Stifling Innovation — won third place in the contest’s Hardware and Software Security category. I’ve been paying close attention to privacy and cybersecurity since 2004, first as a technology reporter …more

SHARED INTEL: How ‘memory attacks’ and ‘firmware spoilage’ circumvent perimeter defenses

By Byron V. Acohido

What does Chinese tech giant Huawei have in common with the precocious kid next door who knows how to hack his favorite video game?

Related: Ransomware remains a scourge

The former has been accused of placing hidden backdoors in the firmware of equipment distributed to smaller telecom companies all across the U.S. The latter knows how to carry out a  DLL injection hack — to cheat the game score. These happen to represent two prime examples of cyber attack vectors that continue to get largely overlooked by traditional cybersecurity defenses.

Tech consultancy IDC tells us that global spending on security hardware, software and services is on course to top $103 billion in 2019, up 9.4 percent from 2018. Much of that will be spent on subscriptions for legacy systems designed to defend network perimeters or detect and deter malicious traffic circulating in network logs.

However, the threat actors on the leading edge are innovating at deeper layers. One security vendor that happens to focus on this activity is Virsec, a San Jose-based supplier of advanced application security and memory protection technologies. I had the chance to visit with Willy Leichter, Virsec’s vice president of marketing, at Black Hat 2019.

“There are multiple vectors, lots of different ways people can inject code directly into an application,” Leichter told me. “And now we’re hearing about new threats, throughout the whole supply chain, where there might be malware deeply embedded at the firmware level, or at the processor level,  that can provide ways to get into the applications, and get into the data.”

For a full drill down of our discussion, give a listen to the accompanying podcast. Here are a few key takeways:

Firmware exposures

Firmware is the coding built into computing devices and components that carry out the low-level input/output tasks necessary to enable software applications to run. Firmware is on everything from hard drives, motherboards and routers to office printers and smart medical devices. …more