SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Cyber Insurance- Arm in Insurance Sector

The idea of getting your online data insured is still an alien concept in India. There are many insurance companies which offer packages with cyber security. In India, it is a relatively new concept. As the numbers of online transactions are increasing, incidents of cyber fraud are also increasing. KG Krishnamoorthy Rao, the MD and CEO of Future Generali India Insurance say, "Even if cyber insurance is not popular now, all it needs is awareness and then there will be a market for this." The banking sector and payment wallets urgently require cyber insurance. Cyber insurance covers economic loss, e-threat and expenses to restore data for an online business. There are not many challenges in dealing with cyber insurance. The only problem is that people don't know what they can claim through this. Read more at:  https://www.entrepreneur.com/article/295471

 

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Have you ever thought of what it feels like to get “Hacked” ?

 

 

Ideally, your answer is "No" and aim of this blog is to keep you cyber safe in 2017. There are no ensured that malicious actors won't get to your data, here are some tips which will diminish the likelihood of having your data hacked. 1. Have unique, complicated, difficult to crack password.

2. Reduce the reuse of password.

3. On regular basis update your password.

4. Prevent “Dictionary Attacks”.

5. Keep your security and privacy settings current.

6. Enable two-factor authentication or 2-step verification.

7. Don’t store your password saved in the browser.

8. Have a security program installed.

9. Install software updates.

10. Be suspicious of URLs before you click.

Now play it safe.

To know more please read the following article:

http://www.socialmediatoday.com/social-business/do-you-know-what-it-feels-get-hacked

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All about cyber attacks!

To protect a company’s valuable data it is of utmost importance to know about cyber attacks and cyber crime. Most industrial and manufacturing firms are victims of practices such as a/c hijacking, SQLi attacks, Distributed denial of Service Attacks(DDos)and maladvertising. Thus, they should keep these 8 points in mind:-

1. Hackers steal the data primarily for monetary gains.

2. Cyber criminals are interested in debit and credit card numbers.

3.  Instead of internet they access Darknet(also known as deep web) so that they do not leave any digital footprint behind.

4. Companies make huge losses due to these cyber attacks.

5. All the company data must be protected by purchasing breach insurance and by using cloud storage.

6. Companies can take prevention by training staff members on basic and critical policies.

7. Efforts must be made in the field of cyber security. This can be done by identifying the baseline( i.e., identify normal network activity before an intrusion). This is helpful as it makes the identification of attack vector easier and also helps to improve the data security.

8. New threats keep evolving.

By keeping these points in mind company can take prevention against the unfortunate cyber crimes or network breaches to some extent. To read more follow: - http://www.business2community.com/cybersecurity/cyber-attacks-8-things-company-need-know-01601714#WhGV91IDu2rTGu9V.97

 

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Cyber security investment is gaining importance

The cyber security budget has increased in the last two quarters in a massive way due to new internet of things threat in the cyber space. A research says that in 2015, investments in cyber security, increased by 78% and valued $228 million. It is suspected that it might reach $400 million at the end of 2016. But why such huge investment? The answer remains in our day to day life schedule. From residential information to car insurance details, every part of our life and economy is data driven and highly networked in cyber space. Earlier the hackers have a mentality to breach the confidentiality in the social space or E wallet arena. But now they are targeting more mainstream and essential services. This breaching of firewall could harm us in the daily life situation. So to protect this condition, huge investments are mandatory which will lead generating more revenue for security startups.

To read, follow: http://readwrite.com/2016/05/19/cybersecurity-investment-iot-sl4/

 

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Retail IT professional’s confidence in cyber security - A Study

Nowadays, retailers are suffering data breaches. According to a research, it was found 33% of retailers say they have experienced a breach where intruders stole or gained access to personally identifiable information. Another research found that 87% majority of respondents said their breach detection systems are either well-integrated (39%) or partially integrated (48%). In 2014, only 75% said these systems are well-integrated (33%) or partially integrated (42%). Read more at: http://www.chainstoreage.com/article/study-retailers-gaining-cybersecurity-confidence#

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Qualities of a successful cyber security start-up

Cyber security provides worldwide information security reaching $76.9 billion in 2015.According to a research, it is anticipated to hit $170 billion by 2020 and the number of cybersecurity startups is increasing at a faster rate. Below are some qualities that are relevant in the world of cyber security: - 1. You must know your value proposition
2. Domain expertise and technical expertise are a must
3. You must know your audience.
To know more, please read the article by Riz Noor (Programme Director, Cyber London): -
http://www.infosecurity-magazine.com/opinions/four-qualities-successful/

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New cybersecurity technologies

The U.S. Department of Homeland Security (DHS) recently highlighted some new cybersecurity technologies that may have potential as commercial products. Some of them are - REnigma, Socrates, PcapDB, etc. To know more, please read the article by Tim Greene (covers security and keeps an eye on Microsoft for Network World): - http://www.networkworld.com/article/3056624/security/8-cyber-security-technologies-dhs-is-trying-to-commercialize.html

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Cybersecurity Tips For Lawyer

Cyber-attacks are a threat to businesses today. The need for better cybersecurity, along with the responsibility to safeguard the client and firm information from the risk of loss from cyber attack, has been the focus of considerable discussion by law firms. Almost all law firms of any size or legal specialization have in their custody and control sensitive client and firm-business information. Here are some tips shown in a recent conference: Use two-factor authentication: - Two factor authentication is a popular and effective way to protect the security of online accounts.
To know more please read the article by David Lat (Founder and managing editor of Above the law): -http://abovethelaw.com/2016/04/7-cybersecurity-tips-for-lawyers/?rf=1

 

 

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Let’s deploy hackers to secure our cyber space

Cyber security and hacking are two completely hostile terms. So if we can incorporate highly skilled hackers with the cyber security system, we can easily nullify future threats. Hackers are considered as taboos and most of the institutes are reluctant to give proper training on cyber security program. It is high time to deploy skilled people in this platform. IT professionals can’t just be re-branded as security professionals. Cyber security requires a trained mind-set, the ability to think about defense and offense. Not only that we need to develop our course dimensions and engage every resources to fight against up growing treats in cyber space.  

 

To read, follow: http://www.wsj.com/articles/hackers-can-be-our-cybersecurity-allies-1459115652

 

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Reliance on Cyber Security Tools but Still Face Protection Risk

 

According to a new study by Cisco “Security in India: Enabling a New Connected Era”, 72% of the Indian companies rely strongly on web Security whereas this figure is 52% for non-Indian companies. This means Indian organizations rely more on tools rather than strategies for protection. Therefore, reliance on tools may also put them at risk. Around 65% of the Indian organizations use mobile security against 49% of the non-Indian organizations. Indian organizations are also rapidly using cloud base security. Use of cloud security system in the coming times will lead them to threat problems just like other countries - China, Russia and U.S. These countries use advance persistent threat (APT) to steal data from consumers and competitors. To know more read article of TOI 

 

http://timesofindia.indiatimes.com/tech/it-services/Indian-companies-use-strong-defence-tools-against-cyberattacks-Cisco/articleshow/50697170.cms 

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Take a stand or get perished: cyber security mantra

Take a stand or get perished: cyber security mantra

Cyber-attack on Sony pictures in 2014 has clearly indicated that the hacktivists have enough technological supports to sabotage one of the most secured service section and business giants. The U.S government suspects that Chinese hackers are penetrating the government's Office of Personnel Management (OPM) last summer as it exposed almost 4 million Federal employee records, including social security numbers. These all instances which prove that these hacktivists are mostly concerned about the sensitive data. The Department of Homeland Security's (DHS) Einstein system is used to find out who committed breaches. Deeper insight in cryptography is therefore required.

To read, follow: http://www.extremetech.com/extreme/225114-the-cybersecurity-threat-are-we-protected-yet

 

 

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Grass root inhibition policy to ensure greater cyber security

Grass root inhibition policy to ensure greater cyber security

Cyber-security is becoming the most trending topics in organizational context. So a proper understanding of cyber-security measures and preventive learning is necessary. Institutionalization of security methodology should be in the key priority. Some institutes provide a set of free hands-on, e-book lessons designed specifically for teens to learn cyber-security and critical Internet skills. This training enables the learners to challenge hacktivist with improvised measures and safe guard protocols. Some Cyber security company provides free five weeks training on how to secure online browsing. We need to list all possible threats and nullify by secure web browsing and cyber activity. In a research it was also found that there are one million cyber security jobs in 2016 which is growing at a rate of 36.5% through 2022. Read more at: 

http://www.forbes.com/sites/stevemorgan/2016/03/20/hacker-high-school-teaches-cyber-security-skills-to-teens/#41440ab669b6

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Implementation of Artificial intelligence to protect sophisticated cyber-attack

Implementation of Artificial intelligence to protect sophisticated cyber-attack

In case of an upcoming cyber-attack, there is a chance of huge cash outflow and there is no alarm mechanism which will caution. The only way to find and eliminate the new set of undetectable tools is computer behavioral analysis. AI can adapt itself based on what it sees to both better identify and more quickly eliminate a threat. The scanning can be far more comprehensive, the response faster and the result itself far more secure.

To read, follow: http://www.cio.com/article/2886748/security0/artificial-intelligence-may-save-us-from-new-breed-of-cyber-threats.html

 

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Prevention is better than cure: New IT mantra to get rid of cyber-attack

The most important issue in IT industry is a cyber - attack these days. Advanced security measures and sophisticated firewall systems are not free from bugs. Hence it is not difficult to crack complicated coding and launch a potential cyber-attack. Sometimes it is observed that these attacks take around one month time to get sorted out. So the question is how did these hackers are getting access to data of a particular company? The answer is simple, it's an in-situ type attack, i.e. hackers stay inside the firm and get familiar with encryption pattern, firewall dimensions and sophisticated filters. The solution is to identify these red flags. That can be only managed if all small potential deviations are identified and listed. These create a huge data pool which can be implemented to automate the alert system. By this process small attacks can be taken care off in no time and protect company from higher damage.

To read, follow: http://www.informationsecuritybuzz.com/articles/data-analytics-in-the-early-detection-of-cybercrime/

 

 

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Identifying Cyber security and manage cyber alerts using Predictive Analytics

A cyber - attack may happen anytime in today's world. Big data and predictive analytics help in cyber defense and convert data into actionable intelligence. Predictive indicators can identify new risks and assist in security. They can go undetected. Predictive analytics can detect these unusual data, including hidden data. By finding these unusual patterns, predictive analytics help to reduce a company's overall risk. With predictive analytics, risks are evaluated and ranked in importance. Managing the predictive analytics process requires an organization to handle the false positives and false negatives that are generated during the threat surveillance process and it cannot be too restrictive as it will block logical traffic, which can lead to a reduction in profit or customer service. It depends on how a person is using it to get the best results. Read more at:

http://www.information-management.com/news/big-data-analytics/using-predictive-analytics-to-identify-cyber-security-risks-10028270-1.html

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New cyber security mantra for Financial service industry.

The stability of financial services in Asia is at stake because of the growing threat of cyber crime. The challenge is the high cost of defending mechanism against low cost cyber-attack ($1million/$1000). These attacks fuels the expansion of the cyber security market with a CAGR of 14.1%, which will be worth $33 million by 2019. Major drivers could be. 1. Financial gain through theft of money or information.  2. Politically motivated attack. And 3. Destructive attack to core business.  Unfortunately, financial sectors in the Middle East and Asia are mostly threatened by cyber threat. So to combat this crime, there must be a community defense model, i.e. sharing of cyber threat info among Financial institutions in an effort to identify and block attacks which are already initiated by US and European companies and followed by Hong Kong, Singapore, Japan & Australia. To read, follow:  http://www.scmp.com/comment/insight-opinion/article/1912324/asias-financial-services-industry-must-unite-against-threat

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Play it safe when using Wearables!

The trend of wearables is growing hotter each day. BYOD (Bring Your Own Devices) and IoT (Internet of Things) clubbed together, is adding more efficiency and flexibility. It's no surprise that smart wearables are already passé for fashionistas. On the counterpart, these trends are attracting the attention of hackers. Wearables are being profoundly used for both business and personal purposes. Thus making them a rich source of information. This could act to the disadvantage if the information gets into the wrong hands. Though the wearables have not revealed any big disadvantages, so far. But as always, with evolving technologies, there always exist weak points. The hackers find these weaknesses and exploit it to their benefit. So it is essential to do proper research on the wearable, before handling it a prominent portion of your information. Read more about it in an article written by Jen A. Miller (a freelance journalist) at: http://www.cio.com/article/3022059/wearable-technology/how-secure-are-wearables-anyway.html

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Importance of keeping business data safe

Technology is advancing and the risk of cyber security breaches is increasing as well. Every business should combat threats by encouraging an environment that prioritizes security. Business must set up a policy which will align with their culture and make sense for the employees that are using it. Extreme measures may be attractive, but, they may get ignored by employees. Enforcing milder measures with an emphasis on their importance will encourage an environment that will empower employees and create cyber awareness. Read more at: http://www.socialmediatoday.com/technology-data/henristeenkamp/2015-10-02/combatting-cyber-security-steps-keeping-your-business-data

 

 

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Protection of crucial business data ensured.

A company must protect itself from viral attacks and hackers. Such hackers have been in existence for as long as the internet has existed and they make a living out of stealing important business information by selling them in the market to the highest bidders online which can cause terrible damage to the reputation of company in question. The appropriate way to go about this is to install malware removal software’s on all the computers and also ensure protection of their private business and assets. Some other ways to ensure this protection are:

• Sufficient disaster recovery layouts: since virus and malwares on the computer can wipe away important data and ruin the business in seconds, efficient systems for disaster recovery should be in place so that information back up is restored at that very moment after the attack ensuring no loss is incurred. Professionals should be hired for such tasks.

• Effective virus protection should be installed since sensitive information about the business as well as of the employees once leaked can lead to several other problems and regular security checks should be done to ensure everything is updated and new viruses are detected instantly.

• It’s always necessary for the company to regulate the employee’s access to the computers so that information is not mishandled. Every employee must have his own work station and not mingle with others work which ensures no personal information exchange.

Such practices can definitely help the business data stay protected in the long run if followed properly.

Read more at: http://www.smartdatacollective.com/peterdavidson/320351/how-ensure-protection-critical-business-data

 

 

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Cyber Liability Insurance: A Solution to Cyber Security Breaches

Cyber security breaches have become common these days. Be it a large company or a small firm all seem to be vulnerable to this risk. So, the question that disturbs these organizations where data is the biggest asset is – What steps should we take to protect from such security breaches?

Matt Cullina, CEO of IDT911, gives a simple answer to this big question – Cyber Liability Insurance and provides following advice on this topic:

  • Yes, you need cyber-liability insurance
  • But probably not a cyber-liability policy
  • You need less coverage than you think
  • You'll pay less for it than you'd expect
  • Knowledge is more valuable than cash

To understand these in detail and know more about Cyber Liability Insurance, please read the following article byMinda Zetlin, Co-author, 'The Geek Gap', at inc.com:

http://www.inc.com/minda-zetlin/5-surprising-things-you-need-to-know-about-cyber-liability-insurance.html

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