In this feature, Deepak Mishra, Cloud4C's Global CISO, explores the ever-shifting landscape of cybersecurity in 2024. Deepak brings his extensive experience to the table, guiding us through the constant battle to stay ahead of evolving threats and talks about the opportunities that a strong cybersecurity posture presents.
It won’t be an exaggeration to claim that the modern cybersecurity landscape is like a battlefield in constant flux. Just when we think that we've closed all loopholes, readied ourselves against all possible risks, and established our security parameters, new unplanned threats emerge seemingly overnight. This is because in 2024, established tactics are continuously being refined by malicious actors. As the global CISO at Cloud4C, I always prefer a proactive approach. It's important to stay vigilant in the face of ever-present threats, particularly when protecting the valuable data and systems of our clients – including multi-TB sized databases for Fortune 500 enterprises and government organizations. t's easy for us to fixate on just the challenges, but in this blog, we'll explore the opportunities that define the current cybersecurity landscape.
From complex insider threats and sophisticated tactics of cybercriminals to the importance of data privacy, we'll see why cybersecurity needs to move from being a line of defense to a strategic center of an organization’s digital transformation efforts. So, let's begin.
Challenges: From Within and Elsewhere
Insider Threats: Insider threats are those threats that come from authorized users within an organization. This can be employees, contractors, or business partners, who intentionally/accidentally misuse their access or have their accounts hijacked by cybercriminals. We might think that external threats are more common and dangerous because they make headlines, but insider threats can be more costly and dangerous, both. IBM’s Cost of a Data Breach Report 2023 states that data breaches initiated by malicious insiders were the most costly - USD 4.90 million. There are three types - malicious, negligent, and compromised insiders.
Evolving Attacks: It's no secret that cybercriminals' attacks are highly advanced today. Ransomware attacks, especially those involving double extortion and sophisticated malware, are very sophisticated, which renders traditional security measures insufficient. This is especially concerning as ransomware groups are now targeting cloud services and hosting providers to inflict widespread disruption. There's a whole black market of tools and services they employ at target organizations. What's worse is the fact that cybercriminals have adopted a pure 'business' mindset today - they work on getting the malicious code necessary, and then attack their target organizations.
Phishing for Bait: Attackers use deceptive tactics to trick users into revealing confidential information. These attacks, both phishing and social engineering, are becoming harder to identify and avoid. Speaking of socially engineered attacks, the latest in cybercriminals’ arsenal is spear phishing. Let's also not forget deepfake videos on social media! Using deepfakes, attackers can convincingly alter their appearance to resemble a trusted individual for fraudulent activity or for blackmail. In a case of deepfake fraud, the CEO of an unnamed British energy provider was tricked into transferring €220,000 to a scammer.
Opportunities: Beyond Just Removing Risk
The ambit of cybersecurity strategy is no longer confined to only mitigating risks. Beyond simply mitigating risks, cybersecurity also presents exciting opportunities for businesses in 2024. A strong cybersecurity posture can be a springboard that helps us unleash our competitive advantage. Here’s how:
Building Customer Trust: What’s most important is demonstrating a commitment to protect customer data, it is paramount. A strong security posture helps establish trust and brand loyalty, differentiating your business from competitors and attracting new customers. Customers today are increasingly security conscious. As a business, we need to prioritize data protection and demonstrate our capabilities in building robust cybersecurity practices. How else will we build trust and loyalty? Cloud4C achieves this by implementing a multi-layered security approach that safeguards sensitive information throughout its lifecycle. This commitment to security is evident in our transparent communication with customers regarding data privacy practices.
Innovation and Product Development: Investment in cybersecurity can foster a culture of innovation, especially focusing on 'security by design.' Businesses that integrate security into the development lifecycle create more cyber-resilient products. 'Security by design' is a proactive approach that infuses and works on security considerations throughout the product development process. This approach minimizes vulnerabilities and leads to more secure products for end-users. At Cloud4C, we champion ‘security by design’ principles. Our security team collaborates closely with developers from the outset of each project, ensuring security is woven into the very fabric of our products.
Operational Efficiency: Robust cybersecurity measures can lead to operational efficiency by minimizing downtime and security incidents. By proactively addressing vulnerabilities and implementing preventative measures, businesses can significantly reduce the risk of costly security incidents and minimize downtime. Cloud4C leverages automation and a proprietary self-healing platform (SHOP™) to streamline incident response and reduce alert fatigue for our security engineers. This allows our engineers to focus on more strategic tasks while ensuring adherence to strict customer service level agreements (SLAs). Additionally, Cloud4C utilizes Security Orchestration, Automation, and Response (SOAR) platforms to manage our security team's workload and automate rule-based responses to malicious activities.
What Lies Ahead
Edge Security: The rise of 5G brings security closer to the customer and their devices. Security Service Edge (SSE) and Secure Access Service Edge (SASE) principles offer a comprehensive approach to securing user access and data at the network perimeter. Cloud4C designs customer networks with these principles in mind, implementing solutions that safeguard data and applications at the edge.
Zero Trust Architecture (ZTA): Zero Trust Architecture (ZTA) removes implicit trust from networks and focuses on continuous verification and least privilege, before granting access to applications and data. Cloud4C leverages ZTA principles in designing customer networks and workloads. Core principles we follow include micro-segmentation of the network and enforcing the principle of least privilege. This ensures that only authorized users have access to the specific resources they need.
AI and Machine Learning (ML): AI and ML technologies are becoming embedded in security solutions to automate tasks and improve threat detection. Cloud4C actively explores leveraging AI for security operations to enhance our efficiency and augment the capabilities of our security team.
By embracing these emerging technologies and trends, businesses can build a more secure and resilient future. Cloud4C remains at the forefront of cybersecurity innovation because our focus is always on helping our customers navigate the evolving threat landscape and achieving their security goals.
Countering AI-Powered Threats
At Cloud4C, we are committed to staying ahead of the curve. We leverage platform-based technologies equipped with AI capabilities to detect and respond to advanced cyberattacks. Our security engineers utilize pre-designed automation playbooks within these platforms, enabling them to swiftly identify and counter threats. This combined approach of leveraging AI for both offensive and defensive purposes strengthen our overall security posture. By actively investing in AI-powered security solutions and staying vigilant, organizations can effectively counter the growing threat landscape shaped by GenAI.
In a Nutshell
The cybersecurity landscape is ever evolving, presenting both challenges and exciting opportunities. By prioritizing a robust security posture, businesses can build trust with customers, drive innovation, and achieve operational efficiency. Looking ahead, emerging technologies like AI and Zero Trust Architecture hold immense promise for strengthening our defenses.
Ready to unlock the potential of a strategic cybersecurity approach? Cloud4C can help your business navigate the ever-evolving threat landscape and achieve its security goals. Explore our comprehensive suite of security solutions designed to safeguard your data, applications, and users. Contact us today to learn more.
