Tuesday 15 October 2024

Establishing a Zero Trust Framework: Why Privileged Access Management Matters

While there's an ever-increasing incidence of cyber threats, today, most organizations embrace the Zero Trust security framework, hoping that no user, device, or system operating inside or outside the network is trusted by default. However, one of the crucial foundational pillars of establishing Zero Trust is Privileged Access Management, also known as PAM. It can be considered as a significant security control that regulates and monitors access to some of the most sensitive resources of an organization.



The Growing Need for Zero Trust

As remote working and cloud-based services are growing fast, the need to rethink traditional perimeter-based security models is also happening. According to Gartner, within three years, nearly 60% of all enterprises will replace their traditional VPNs with Zero Trust architecture. This model is based on the principle of "never trust, always verify," meaning that authentication, authorization, and continuous verification must happen on each user's or device's identity before access to sensitive resources can be granted.

Actually, privileged accounts—administrator-level accounts with higher privilege levels—are one of the primary attack vectors for cybercriminals. In fact, according to Forrester Research, 80% of security breaches include privileged credentials; thus, a ready-made target for malicious actors exists within privileged accounts. PAM plays an important role here in the zero-trust paradigm.

What is Privileged Access Management (PAM)?

Privilege access management is a collection of tools and best practices designed for securing, controlling, and monitoring privileged access to critical systems. Solutions to privileged access management ensure that users with elevated rights of access-that is, IT executives, administrators, IT staff gain access to only what's absolutely needed for them to do their job and for as little time as necessary. It also provides real-time monitoring and recording of privileged sessions to detect suspicious activity so that an effective response can be framed.

How PAM Supports Zero Trust

1.      Granular Access Control: PAM limits the scope of access for privileged users. For instance, enforcing the principle of least privilege will ensure that users only have access to exactly what is required in their roles, which limits the attack surface and reduces damage whenever an account is compromised.

2.      Multi-factor Authentication (MFA): The PAM solution includes multi-factor authentication, meaning that users are required to prove their identity so they can access the privileges. This makes it even more difficult for the attacker to mimic privileged users and conceal their activities in the event of stolen credentials.

3.      Session Monitoring and Auditing: Privileged sessions should be monitored in real-time; therefore, if any unusual activity occurs, which is considered to be a breach of security, then it's essential to know them right away. PAM allows the organization to audit every action that users undertake, keeping a record of it and thus, holding them accountable.

4.      Just-in-Time (JIT) Access: PAM can provide access of users to privileged accounts, only for a time-bound period, which greatly reduces the window of opportunities given for unauthorized access. Aligns with zero trust philosophy: reducing persistent accesses to critical systems

5.      Automated Threat Detection: Automated detection of threat through PAM solutions by continuous monitoring of privileged access behavior, so they can automatically flag and respond to such activities, like login times, anomalies, location-based anomalies, or unauthorized attempts at accessing certain systems.

The Statistics Behind Privileged Access Risks

·         In Verizon's Data Breach Investigations Report for 2023, 61% of all breaches involve credentials, and privileged accounts remain the most targeted for hackers.

·         Centrify’s PAM survey shows that 74% of organizations using PAM have experienced decreases in security incidents related to unauthorized access.

·         Cybercrime damages will reach $10.5 trillion globally in the year 2025, Cybersecurity Ventures stated, and privileged credential protection is key to preventing such costs.

PAM: A Crucial Layer in Zero Trust Adoption

Even with the best strategies for Zero Trust, organizations can immediately fall without proper management of privileged accounts. PAM ensures that only the right people have access to critical systems-and even those right people are continuously verified. As organizations invest in modern security architectures, implementing PAM is no longer optional but necessary.

Integrating PAM into a Zero Trust framework helps alleviate pressures for businesses battling insider threats, compromised accounts, and credential abuse, leaving that much more challenging work to would-be attackers within the exploitation of privileged access. The result is a more secure, resilient infrastructure better equipped to face the evolving nature of threats.

How Privileged Access Management Helps State and Local Agencies

Presently, state and local agencies are constantly under growing cyber threats, especially those of privileged accounts. Privileged Access Management is one of the strongest controls against insider threats, to secure remote access and, therefore, would imply compliance with FISMA or HIPAA regulation. PAM repels ransomware attacks by maintaining strict controls over who has access to privileged accounts. Also, there is activity monitoring. Multi-factor authentication is integrated. This is directly applied to the Zero Trust policy and further strengthens the security of critical infrastructure.

This cost-effective answer boosts security with a reduced risk of operation.

How Government Agencies Enforce Privileged Access Management



Privileged Access Management in government agencies is enforced through several key strategies that enhance security and protect sensitive data. They use RBAC and, based on the least privilege principle, make sure that user IDs can access only those systems and data necessary for their respective roles. Agencies require Multi-Factor Authentication for all privileged accounts. Multiple verification steps must be completed before accessing information. Furthermore, PAM tools are used for continuous session monitoring and recording, thus enabling the detection of real-time suspicious activities and keeping a full audit trail. Agencies also follow the Just-in-Time (JIT) Access approach, which provides temporary access to privileged accounts for limited periods. This is because an agency can avoid unauthorized access by revoking privileges after use. Regular audits and compliance checks are conducted to verify compliance with security regulations and whether or not there is a possibility of security vulnerabilities. Using the above approaches, government agencies can effectively grant privileges to administer and establish access controls. Therefore, the risk of a breach of sensitive information will be minimal, and adherence to compliance will be guaranteed.

Conclusion

As threats continue to evolve, forward-thinking organizations are looking to a new security model: Zero Trust. With this architecture, Privileged Access Management remains critical to ensure that an organization's most sensitive information and systems are protected. It does this by controlling monitoring and securing privileged accounts, which would improve security posture, reduce attack surface, and execute the core components of the principles of Zero Trust.

Privileged access management solutions by ESDS are built with compatibility in mind for use in conjunction with Zero Trust architectures and provide advanced features of granular access control, session monitoring, and multi-factor authentication. Therefore, with ESDS PAM, organizations can reduce the risk from privileged accounts by making access safe and monitored for only authorized users who access critical systems.

However, organizations that aren’t using PAM as part of their Zero Trust strategy expose themselves to substantial risk since the number of cyber-attacks on privileged credentials is increasing. The statistics above illustrate the way in which proper use of PAM - especially by providing solutions such as ESDS's Privileged Access Management - can make all the difference in reinforcing security and making Zero Trust a plausible and practicable strategy for long-term defense.

Visit us: https://www.esds.co.in/privileged-access-management

For more information, contact Team ESDS through -

🖂Email: getintouch@esds.co.in| Toll-Free: 1800-209-3006 | Website: https://www.esds.co.in/

 

Wednesday 9 October 2024

How A Security Operations Center Protect Against Cybersecurity Threats?

Cybersecurity has been, without a doubt, one of the critical issues for companies in a vast range of sectors. Cyber threats these days are too complex to be overlooked. Cybersecurity threats like data breaches, ransomware attacks, and malware infections can lead to serious financial losses, reputation damage, and other business legal liabilities. According to a report by Cybersecurity Ventures, the cost of cybercrime will reach $10.5 trillion a year by 2025. We must proactively avoid, detect, and respond to potential threats in advance to mitigate these on-the-rise risks. When one security breach occurs, there would be a disastrous impact on society. A step towards this is the establishment of a Security Operations Center. In this post, we will understand the components and key features of the Security Operations Center as a Service.

Security Operations Center Market Overview

The global security operations center market size was estimated to be approximately USD 40.39 billion in 2023. It is further estimated to grow from around USD 43.68 billion in the year 2024 to USD 81.77 billion in the period of 2024 to 2032 with an annual growth rate of 8.2% during the projected period.

The cyber threat landscape constantly changes, so protection against would-be attacks requires constant monitoring and response. The longer any cybersecurity problem persists, the greater the potential damage and cost to the firm. One of the critical mandates that an organization's SOC would seek to address these risks is by offering round-the-clock cyber risk monitoring along with the capacity to respond to incidents in real time.

Overview of Security Operations Center (SOC)

The Security Operation Center has been around for decades, and most of us are at least familiar with the word and its usage in organizations. A Security Operations Center is a centralized function within an organization that keeps monitoring various cybersecurity risks and enhances the firm's security posture. To help us better understand, let's break down the main components of a SOC into the following components, referring to Figure 1 for a high-level representation. The SOC team should be furnished with a whole host of security tools and technologies such as SIEM, EDR, and Cloud Security Telemetry.

Other crucial technologies include firewalls and intrusion detection and prevention, which will assist the SOC team in monitoring as well as detecting security issues and automating incident response procedures where applicable.

The other set of staff in the SOC team is the SOC analysts and engineers and several other supporting staff responsible for monitoring and attending to instances of cybersecurity. The most important aspect of SOC is its ability to apply incident detection and response techniques that would identify and mitigate security problems in a timely way.

Why do We Need a Security Operations Center (SOC)?



Cyber threats are becoming increasingly complex, and we have to be more watchful in identifying and correcting potential security issues. This is where SOC comes in, providing a central unit for 24/7 monitoring and analysis of an organization's security posture.

Here are some critical reasons why organizations like ours need the SOC functions:

1. Detection and response: SOC will realize a potential security threat or an event at an early point in time so companies can respond in a timely fashion to minimize the consequences of an attack on it. It reduces risks in terms of financial loss, reputational damage, and liability.

2. Improved Incident Response: The SOC employs security analysts who would, at times, rapidly respond and effectively perform in security events. They are supposed to identify security threats or security-related events and work with the correct SMEs in response to actions that would mitigate any possible risk.

3. Better security posture: SOC might offer business opportunities for the improvement of their security posture as an aggregate by identification of weaknesses and the recommendation of security policies. Such practices might reduce the chances of future security breaches and keep companies ahead of cyber threats emerging in this ever-changing cyber world.

ESDS: Your One-Stop Defense for SOC as a Service Solutions

ESDS' Security Operation Center Services are built on the latest technology and have highly skilled employees working around the clock. The team successfully monitors, analyses, and responds to cyber security incidents. Managed SOC services from ESDS help strengthen your organization's security posture by discovering and fixing any critical network vulnerabilities. When it comes to consumer environment control, ESDS is the most preferred. ESDS owns one of India's most sought-after, advanced, and highly complex Security Operations Centers. The other risk is "Zero Day Attacks," wherein the cloud server providers do more curative actions than remedial prevention efforts, and the virus is unknown and relatively newer to the system. Then it may be a problem. After that, Distributed Denial of Service (DDoS) may even prevent multiple clients from accessing their ecosystem for an extended period because of a lack of security measures or hardware redundancy.

Conclusion

In the wake of all these fears turning about, what naturally comes is a logical question: "Is there any protection measure to safeguard an organization's or enterprise's data on the cloud?" The answer is yes, providers offering cloud services provide a variety of choices, such as the ESDS Security Operations Center Services, which furnish specialized and well-curated security solutions to guard against digital and cyber threats.

Also, you can follow the guide on Cyber Security: Incident vs. Response Plan, which explains the key differences in safeguarding the organization's data and systems.

Let us know the usefulness of the blog in the comment section below.

Visit us: https://www.esds.co.in/soc-as-a-service

For more information, contact Team ESDS through -

🖂Email: getintouch@esds.co.in| Toll-Free: 1800-209-3006 | Website: https://www.esds.co.in/

Wednesday 2 October 2024

Transforming the BFSI Sector: The Rise of Community Clouds in Digital Banking

 Introduction

The BFSI industry is in the middle of a paradigm shift to some extent, this paradigm shift is enabled by technological advancement, and to a large extent, it is driven by an ever-increasing demand for digital access. Central to this development will be the concept of community clouds-that is, providing space-specific solutions to organizations in the BFSI space through cloud computing.



ESDS is at the frontline of this shift with sophisticated, tailored cloud services designed exclusively for the BFSI institutions. This article delineates how community clouds are transforming the face of digital banking platforms, their role in the banking industry, and their influence in general on cloud computing within BFSI.

Community Clouds in BFSI: The Shift with ESDS

Community clouds, like the kind provided by ESDS Software Solution, are ones through which multiple organizations in the BFSI sector can share a cloud infrastructure that satisfies the needs for mutual security, compliance, and performance. ESDS's BFSI Community Cloud is thus designed to provide financial entities with a secure, compliant, and cost-effective platform where they can boost their presence in an increasingly dynamic digital domain.

How ESDS Software Solution Improves Digital Banking Platforms

ESDS offers a range of services that powerfully improve digital banking platforms so that BFSI can operate accurately and securely.

How ESDS makes a difference is this:

·         Scalability and Flexibility: ESDS's BFSI Community Cloud enables banks to scale resources to respond to business needs in line with fluctuating transaction volumes

·         Cost Efficiency: ESDS is offering a shared infrastructure model thereby saving BFSI institutions on their IT spend while providing cloud technologies at the forefront.

·         Compliance and Security: ESDS ensures compliance with RBI guidelines, PCI DSS, etc., and ISO certifications, thereby enabling banking sensitive data with complete security measures.

·         24/7 Support and Managed Services: ESDS's services provide 24/7 support and managed services so that financial institutions can focus solely on their core operations while cloud management is taken care of.

Value Added through Real-time Data Analytics: ESDS's Cloud solutions enable real-time processing and analytics of data so banks get an insight into the behavior of their customers and enable them to make proper decisions.

Cloud computing in the banking industry is in demand with increased agility, innovation, and cost-effectiveness. BFSI institutions are being catered to services that are going to seize unique requirements of transformation through ESDS Software Solution:

·         Core Banking Solution: ESDS empowers banks to take core banking systems on cloud migration, which speeds up processing activities, allows instant updates, and provides a smooth customer experience.

·         AI and Machine Learning Interface: ESDS offers a way in which AI and machine learning solutions may be integrated to enable the automation of processes, fraud detection, and personalized services to clients.

·         Disaster Recovery and Business Continuity: With ESDS cloud solutions, financial services have now had an opportunity for scalable, secure disaster recovery that remains functional despite such unprecedented interference.

The Unique Offerings of ESDS Software Solution for BFSI

ESDS Software Solution offers the following industry-specific services for BFSI institutions:

·         BFSI Community Cloud: Essentially a secure and compliant, scalable cloud platform built specifically for BFSI. Thus, it enables a seamless digital transformation.

·         SAP HANA on Cloud: The Company hosts its own SAP HANA on its cloud so that the data analytics and reporting capabilities can be availed by banks in real-time.

·         ESDS VTM Scan: Its Vulnerability assessment and penetration testing service helps financial institutions identify areas of risk and mitigation.

·         Managed Cloud Hosting: ESDS is one of the few managed cloud hosting service providers ensuring optimal performance, security, and compliance for all banking applications.

The Future of BFSI with ESDS Community Cloud Solutions

As the BFSI industry keeps walking on its digital journey, community cloud offerings from ESDS will increasingly come into importance. The focus of ESDS lies at the heart of compliance and security, facilitating BFSI organizations to jump into the digital world with full-fledged confidence. ESDS's road to the adoption of cloud services of BFSI institutions will keep them agile, relevant, and well-equipped for all the alterations that are happening within the customers' needs.

Conclusion

Innovations in the community cloud, ESDS are transforming the BFSI sector with safe, scalable, and compliant infrastructure for digital banking. As the BFSI sector continues to evolve, ESDS's offerings shall form the backbone of a more customer-centric, innovative, and resilient financial landscape.

Visit us: https://www.esds.co.in/banking-community-cloud

For more information, contact Team ESDS through -

🖂Email: getintouch@esds.co.in| Toll-Free: 1800-209-3006 | Website: https://www.esds.co.in/