Cybercrime is a frighteningly serious challenge. Regardless of size and industry, organizations have witnessed the disastrous effects of cyberattacks. As we grow technologically advanced, malicious actors are getting creative, employing unique tactics to breach enterprise security.

Between 2020 and 2021, there was a 31% spike in security attacks, according to Accenture’s “State of Cybersecurity Resilience 2021” report. Also, the per company attacks have increased to 270 from 206. The global cyber community has seen some of the biggest cybersecurity violations in the last two years. Colonial Pipeline ransomware attack reported in 2021 shut down the entire oil supply across the East Coast of the US for several days. A few months before this, attackers gained illegal access to several governments and private systems worldwide in the SolarWind attack.

The increasing number of cyber attacks prompted the US government to release an Executive Order mandating the organizations to follow a set of best practices and voluntary standards to ensure a resilient cybersecurity framework.

Regardless of the government mandates and complex technology, attackers are finding sophisticated ways to maneuver through and breach your system. In addition, the normalization of remote work has led to a broader and more vulnerable surface area. A report on Covid-19’s impact on business security revealed that remote workers accounted for 20% of cyberattacks during the pandemic.

With cybercriminals hiding their tracks smartly, remaining in the shadows of the cloud, and exploiting complex vulnerabilities, organizations must leave no stone unturned to improve their security posture. Below we have summarized the top 11 cybersecurity best practices that businesses should adopt to mitigate cybercrimes and stay compliant with evolving regulatory requirements.

11 Best Cybersecurity Practices

1.  Mitigate human risks

It is commonly said that the weakest link in an organization’s security stance is the human link. Hackers prefer breaching into your systems through people. You can plug this comparatively easy entry point of attacks by educating your employees on cybersecurity best practices. While effectively communicating with all your team members, you must allow them to adopt security measures with complete autonomy. One tried and tested practice is to make them responsible for the data they work with. It will infuse an added sense of accountability and lead them to take cybersecurity seriously.

Creating awareness among your team about social engineering tactics like phishing, pretexting, quid pro quo, and tailgating will enable them to avoid attacker’s baits.  

2.  Reduce employee negligence

Although we talked about giving your employees autonomy in implementing security measures, it is advisable to investigate any potential employee negligence. It is crucial since about 22% of the cyberattacks in 2022 occurred due to employee oversights and mistakes.

Training your employees on security best practices specific to their processes is essential. Running them through real-life security breaches and potential threats that your organization constantly faces can help reduce employee negligence. You can also make your employees a part of your cybersecurity policy-making process by seeking their suggestions. Also, ensure that your employees use proper email and URL screening mechanisms to eliminate spam.

3.  Secure remote devices

Despite its benefits of flexibility and speed, remote working has an unfavorable impact on security. By enabling your team to access confidential data from remote locations and different devices, you open up more doors for hackers to intrude into your system. Inform employees strictly about the disastrous consequences of not keeping their workplaces secure.

As an organization, you must gain complete control and visibility into your team’s critical assets and data access. You must regulate data transfer from one location to another by remote workers.

4.  Improve password management

Most employees often use the same password for years and across multiple platforms. This is a major red flag. Passwords must be unique, complex, and unpredictable. Each password must contain a mix of uppercase and lowercase letters, numbers, and special characters. You must also mandate that your employees update their passwords regularly.

In addition to protecting access to your assets, you must also protect your passwords. They might get lost or stolen, thereby making your system vulnerable. A password manager can help you handle passwords securely, ensuring your critical data’s safety. Implementing multi-factor authentication is a practice that most organizations prefer. It involves an authorization layer such as OTP and biometrics in addition to passwords.

5.  Implement the least privilege principle

Access to sensitive business assets must be stringent. A good way is to give everyone in your organization the default or fewest privileges. You can set a process for privilege escalation so that you can track who is accessing what. Also, you can revoke access if access to confidential data is no longer needed.

The principle of least privilege (POLP) might seem tedious, but it can be a lifesaver. Multiple access management solutions are available to make privilege management easier.

Zero trust security policy is yet another practice similar to the principle of least privilege (POLP). It rules that only the devices and user accounts that have been thoroughly authenticated and verified must be allowed to access systems. Both least privilege and zero trust policies will significantly reduce the risk of insider threats.

6.  Monitor supply chain risks

The software supply chain risks have grown so severe that the US government had to include them as a special mention in its cybersecurity EO. Including code blocks from open-source or third-party vendors is a common practice among the developer community. Although it speeds up the development process, there are significant threats associated with such an approach.

Hackers notoriously inject corrupted code into open-source code, which can wreak havoc on your system if not eliminated. To avoid adding malicious code to your system, evaluate the code you’re picking up from outside and check it for any known vulnerabilities.

7.  Backup critical data

Irrespective of your security frameworks’ robustness, it is important to have backups of all your confidential data. With increasing ransomware attacks and hackers demanding steep prices in exchange for your data, backups will save the day. Not just with ransomware, saving your data copies as backups can help you during data loss incidents like cloud breaches, equipment breakdowns, and accidental deletions.

8.  Document cybersecurity policy

Ensuring consistency and standardization concerning security measures should be a priority for your organization. It is possible quite easily by documenting your cybersecurity policy. The document can be shared across the organization and used as a primer.

9.  Safeguard your corporate network

A compromised or weak network gives hackers direct access to critical data in your systems. Use a firewall to avoid such incidents. It provides a strong barrier between your data and cyber threats by deflecting access requests that don’t match the predetermined criteria.

In addition to an external firewall, you can also set up an internal network firewall to have an added layer of security. If you allow remote work for your employees, ensure that they use a firewall for their home network through which they access the data.

10. Undertake cybersecurity audits

Frequent evaluation and analysis of your systems and assets will help you detect any vulnerability or security threat that was previously invisible. It will also identify security gaps such as unused accounts, unnecessary privileges, and redundant access permissions. Auditing, however, requires you to have a thorough check analysis of data collected from audit logs, session records, and metadata.

11. Install anti-malware software

No matter how many training sessions you take, even the expert resources will make mistakes, like falling prey to phishing techniques. Phishing scam generally involves attempts to have your employees click on an unharmful-looking link, only to install malware onto their system. The purpose of this tactic is to steal user credentials or sensitive data. The phishing scams run by hackers are so ingenious and thoroughly researched that it is not impossible to be filled by them. Therefore, investing in an effective anti-malware solution or anti-virus is only advisable. Such tools detect malicious links and alert your employees.

Conclusion

Cybersecurity has grown from an issue affecting massive organizations to a plague hurting almost every enterprise, big or small. In the current environment of data-driven innovation, safeguarding sensitive information is of utmost importance. Your only chance to tackle cyber threats is to build a resilient system and enhance your security posture.

PruTech is an industry leader in offering cybersecurity services to help organizations become more secure. With data being the new oil in this information age, our services take care of complete security lifecycle management for on-premises and cloud infrastructure.

Cyber Security Scenario in India is progressing with certain milestones, specifically important events that will result in developments. Past Cyber Security Services in the year 2010-15 included practices like prevention of security siloes, effectively using Artificial Intelligence(AI) with executing strategies of threat intelligence and response. Other past Cyber Security Solutions included the National Cyber Alert System, and the formulation of local incident response teams.

Several other initiatives were taken considering the promotion of educating developers with safe coding, testing, offering security patches to victimized customers, executing, and testing robust authentication. Other past cyber security threats include encryption mechanism frameworks(structures), redefining network layouts to take full benefits of Virtual Private Network(VPN), firewalls, executing layered-oriented network topology, deny physical access to Industrial Control System(ICS) networks and devices.

Based on Root Cause Analysis(RCA) performed, certain criteria were credentials management, weak firewall rules, permission, privileges, and access control that were resolved for a robust Cyber Security scenario.

Current Cyber Security Practices

Practices of current Cyber Security Services include firewall usage, and deciding the documentation of Cyber Security online policies like an endeavor proclaimed. Here, cyber security practices must be an endeavor proclaimed which is a serious determined effort officially declared. Modern parameters also include updating security policies with new conducts and laws, robust authentication required for users, enhancing network security controls, and improving data security awareness.

Future-proof Cyber Security Strategies of 2022 include organizing faux phishing exercises, executing malicious attachment prevention practices, and working out malware prevention blueprints(design plan).  These strategies offer durability for long-term use in the future without effect on quality. Other practices are tests with incident response cyber teams for simulation of password requests, monitoring access to cloud data technology, checking for proper configuration, and ensuring the highest levels of data security.

Parameters followed by security leaders for cyber fraud prevention and prevention of data breach

  • Prevention of phishing attacks, malicious attachments, malware, password requests, and other untrustful Cyber Security demands is the priority.
  • Analysis was done considering the Cyberthreats with criteria of the intensity of internet exposure, level of digital asset affection chances, resources used, attackers, and strategies used for digital risks with enterprise risk appetite.
  • Evaluation of the current state of Cyber Security Services and their beneficial outcomes, with a review of organizational policies. Presentation of certain frameworks, strategies, and methods for best cyber outcomes considering peoples, principles with processes.
  • Providing advisory of ideal, worthwhile, and relevant solutions for prompt crisis resolution.
  • Enhancement of a cyber roadmap – Ethical policies were implemented for the prevention of future cyber threats, focusing on execution of new security projects, and installation of advanced new networks for time with cost-efficiency. New commercial operating models were worked upon for future cyber safety.

Key developments in the context of Cyber Security Services

  • The prominence of Artificial Intelligence activates threat migration potential as users get notified with security alerts for quick threat mitigation for reducing the critical effect of the cyber attack.
  • Security automation was reported as a major milestone and significant event towards development for the provision of valuable services.
  • Cyber-Security-as-a-Service provider that includes security operations center and Security Information Event Management (SIEM) offer workload management with automated duties preventing manual work using IT staff or personnel.
  • Security analysts and engineers perform the crucial job role of aggregating specifically classification of alerts and response documentation, using SIEM.
  • Software-As-A-Service(SaaS)-based threat detection tool and incident response tools were majorly used for cyber threat prevention.

Purpose with the significance of automated products and services

Prominent Cyber Security softwares’ that are widely used in the form of automated products for several Cyber Security solutions like developing threat intelligence, SIEM security, monitoring, log correlation, analysis, host intrusion detection, audit for web application mistakes, quality assurance, end-point security, email security, vulnerability scanner, rule-oriented access control, etc.  In the global context, Cyber Security software like Intruder, Sixsense, Acunetix, Netsparker is widely operated for preventing ransomware with other data breaches.

Benefits provided due to Cyber Security software

  • Time-efficiency and cost-efficiency
  • Higher Returns of Investment(ROI)
  • Operational efficiency and process optimization
  • Seamless machine-oriented automated workflows without technical interruptions and any hassles(problems) for hassle-free working
  • Data Regulation
  • Data Streamlining
  • Faster output to the market

Strategies to develop as a future-proof enterprise considering the use of Cyber Security Services

  • Emerge, by arriving as a winner with practical, useful, and serviceable strategies to establish certain future-oriented Cyber Security solutions for resolving future commercial challenges.
  • Redefine connectivity with criteria of the access point, as a wireless network device that performs the role of a portal for devices to be connected, which includes more capacity, decreased latency for delays in communication over a network, and power conservation.
  • Check switch access considering wired and wireless sources for simplifying work duties, streamlining operations, saving money, offering the highest offline and online data security.
  • Restore online and offline data security with services like Cisco Umbrella, Identity Service Engine, and Cisco Cyber Vision. Get benefits of flexible, and cloud-emphasis security like an all-in-one platform for multiple network security duties.
  • Revive automation – Get back positive results and benefits, using modern with innovative automation strategies as beneficial Information Technology(IT) solutions. Transform your work process to be effective in the context of using best-connected operating models without any interruptions for smooth and hassle-free working. Prefer services like Cisco DNA center and Cisco vManage for scalability with the expansion of multi-cloud connectivity, according to business requirements.

Future-proof your enterprise’s IT infrastructure considering our Cyber Security Services with certain changes for the better. Consider an investment in modern Cyber Security services that will always be useful irrespective of technological developments for resolving future commercial challenges.

Do you want to upgrade and modernize your commercial IT infrastructure? Enquire with us here.

Health Insurance Portability and Accountability Act (HIPAA) is recognized to be a federal law that promotes the protection of critical patient information, without being revealed to others. Here, sensitive patient information is disclosed only with the patient’s consent. Crucial patient data must be preserved virtually, considering the max use of computers and digital networks. The adherence to HIPAA federal law practice performs an integral role in the prevention of data breaches, preventing misconduct of healthcare treatments, and considering spammers and hackers.

Cyber Security Scenario and Importance of HIPAA as a federal law

Data security breaches that are network-oriented lead to negative consequences in healthcare organizations. Accordingly, this can adversely affect the supply of quality care and treatment to patients. Identification of a flaw in the hospital’s cyber security network can lead to the disclosure of valuable patient data resulting in malicious attacks, ransomware threats, and other cyber threats. Hence, compliance and implementation with obedience to certain Cyber Security solutions like the official rule of HIPAA law for every patient by the doctor will lead to safe online commercial practices for providing beneficial health outcomes.

Electronic Health Records(EHR) can present the threat of encryption and cyber attackers taking control of sensitive healthcare data assets, blocking, and denying access to the same healthcare data infrastructure to doctors. In this context, ransomware threats can demand money for access and cause damage to overall patient data.

According to HHS Cyber Security Program and their reported 2021 trends, the average ransomware paid for the US healthcare sector was $1,31,000, after reporting 48 ransomware cases. Costs incurred were $1.27 million for resolving the case.

Benefits of Compliance with Cyber Security and HIPAA Federal Law

  • Commercial Protection from loss of PHI

Private Healthcare Information(PHI) is understood to be an offense by disclosure and revealing of a patient’s sensitive valuable data. Here, the healthcare organization’s medical data is put at risk, if disclosed online or to others without the patient’s consent. Accordingly, compliance with Cyber Security Scenario will lead to the protection of healthcare data assets, preventing any PHI loss.

  • Enhanced awareness of patient well-being

Cyber Security Solutions like HIPAA Compliance provides the scope for healthcare staff members with practical training on a code of conduct that must be practiced for the online protection of patient data. Accordingly, this leads to the best quality care delivery with patient interaction and fulfilling their healthcare needs.

  • Healthcare staff gets useful and serviceable online tools with HIPAA Compliance via accurate training. This does not only trains staff on PHI significance and importance but also on how to accurately protect Patient Healthcare Information online.
  • Build and develop a patient-oriented safety culture

The well-being and best condition of patients are decided depending on the culture of the Healthcare organization. When healthcare employees strictly follow, abide and work in compliance with HIPAA programs for every patient, they develop a stronger patient-oriented healthcare way of life.

  • Get valuable benefits of protection of PHI data like fall prevention, accurate management of medication records, infection control, and safety practices.
  • The healthcare staff’s compliance to the HIPAA federal law provides the scope for reduced errors by any staff members due to serviceable training offered.
  • More satisfaction value from patients and their families

Cyber Security Solutions in the form of HIPAA compliance help in gaining the patient’s trust for the healthcare services offered. Data security breaches can lose the patient’s and their family’s trust in the hospital’s credentials, specifically when a family member of a patient complains leading to online data security breaches.

In these cases, Office For Civil Rights (OCR) organizes a HIPAA compliance audit to check the validity and intensity of sensitive data exposure considering its effects, if any.

Purpose of Cyber Security Compliance with HIPAA policy

Obedience to HIPAA policy for every healthcare project will result in decreasing the liability for your healthcare organization with employee executives. An accurate code of conduct followed with responsibility considering the HIPAA law not only protects patient’s integrity but also develops the staff’s reputation for following HIPAA rules. HIPAA compliance, and simultaneously robust Cyber Security Services, with the ability to be successful in wide conditions, are considered compulsory training provided by the Government for all healthcare workers.

Significance of Cyber Security Compliance with HIPAA policy

The HIPAA policy provides the potential for receiving the correct training for the online protection of commercial healthcare assets.

  • Not only does HIPAA compliance training offer scope for patient data protection but also protects healthcare staff.
  • If any cases are found of irresponsibility towards accurate training of staff considering compliance to HIPAA law then the healthcare staff can be penalized with large fines. HIPAA compliance prevents the risk of liability for healthcare organizations’ employees like personal liability lawsuits due to no chances of proper training provided.
  • Also, the investment of time in the provision of practical training offers doctors and other healthcare staff the potential to prevent chances of errors to be identified by OCR. Accordingly, this also prevents other risky dangers for healthcare businesses leading to the benefit of patient outcomes due to HIPAA compliance/obedience as a part of healthcare companies operating with the use of Cyber Security Services.
  • Cyber Security Services in healthcare organizations must be significantly implemented with an official procedure or system of rules like a protocol.
  • Priority is reviewing and strengthening a current cyber security posture with certain real-time strategies, compatible with real commercial scenarios that can be implemented. Also, cyber security solutions, ethical policies, and parameters to avoid future data breaches must be executed.

Tailored cyber security policies precisely meant for healthcare organizations relevant to the commercial scenarios like HIPAA compliance must be monitored considering its impact. Also, its level and intensity of compliance must be regulated with supervision for beneficial patient outcomes. An actionable plan to achieve objectives must be implemented.

Are you looking out for customized Cyber Security Services according to the business requirements of your industry expertise? Get involved with us here.

“It takes less time to do things right than to later face critical, negative, time-consuming consequences”

The significance of HIPAA for Healthcare Services and other businesses

Health Insurance Portability and Accountability Act (HIPAA) indicates the non-disclosure of crucial patient data to others, online and offline, with the maintenance of confidentiality about critical patient health assets. The law conveys that valuable healthcare patient data will only be disclosed with the patient’s consent to others. This law does not apply only to healthcare professionals but also to businesses of other service portfolios. Because Small and Medium Enterprises (SMEs) manage the health data of their employees online, HIPAA compliance with proper Cyber Security solutions is essential.

According to insights from the HIPAA journal, from 2009-to 2020, 3705 cases of healthcare data breaches were reported with more than 500 records. This resulted in the loss, theft, and unauthorized disclosure of approximately 26 crores of critical healthcare data worldwide.

Upcoming Trends in HIPAA compliance

  • Data security, categorization, and classification will be the emphasis considering the data-sharing requirements, after reviewing commercial practices of medical labs with other specialist healthcare providers.
  • Considering the privacy of Protected Health Information (PHI), Payment Card Industry (PCI) obedience, and Personally-Identifying Information (PII) in the complicated healthcare industry, Cyber Security Services will always be essential. Based on this context, HIPAA regulations, and management oversight as a cyber security solution were implemented. More new remote technologies will be developed to protect the healthcare staff of the future.
  • Cyber resilience is progressing with recovery from online disasters due to the achievement of all network and system data protection in case of a data breach. Cyber resilience is also significant in the case of critical data exposure.
  • Premium future-oriented technologies and data security services will be reported for maximum use.
  • Execution of ideal metadata support for all commercial files and emails that leads to data loss prevention will be a noteworthy technology solution. Other trends to be observed will be enterprise rights management, cloud-access security brokers, and next-generation firewall solutions considering the overall remote network. Here, maximum use of automated products and services will be observed.

Impact of the HIPAA law on your business

  • Promotion of Employee Training through mass media communication

    Employees are not only the responsible sources for adherence and obedience to the Health Insurance Portability and Accountability Act. Employers are equally responsible for HIPAA compliance and following the law as they manage crucial healthcare assets and valuable insurance details about other employees.

    In this context, HR professionals and admins must be provided HIPAA compliance training to follow the law for every service delivery. Accordingly, non-obedience or non-compliance with the law may lead to accidental disclosure. In this case, a business can be sued in court by the employee whose valuable health data is revealed.
  • Maintain storage records and health data security

    Businesses must be vigilant (alert) about storing employees’ health assets, specifically health insurance statements, medical certificates, doctor’s prescriptions, blood groups, and details of other related health factors. These files must be protected by authorized and official staff resources.

    In the case of record transfer, employees must obey and practice adherence to company policy with HIPAA compliance to avoid legal consequences affecting the reputation of the company. Businesses must maintain detailed logs of employees who transferred, released, or disclosed health data in order to comply with HIPAA regulations.
  • Employee sickness and absences

    Business owners and employee staff have no right to reveal an employee’s health status, considering the employee’s prior consent. Other staff members can get notified about employees’ leaves, but the reason for the sickness and leave application must not be disclosed according to HIPAA regulations.
  • Recruitment of in-house privacy staff

    In-house privacy officers must be provided with practical training about the Health Insurance Portability and Accountability Act (HIPAA) regulations. Business owners must ensure that their privacy offers to comply with HIPAA regulations.
  • Company-intensive policies

    Small businesses must not only execute company-wide policies but also document Health Insurance Portability and Accountability Act (HIPAA) regulations as a serious, determined effort that is officially declared. HR policies, company policies, company values, the company’s code of conduct, and decorum must incorporate the significant role of HIPAA compliance. Businesses and service providers that follow HIPAA compliance but without official documentation of an official signatory can still be answerable for non-compliance, leading to penalization with fines.

Parameters and criteria of  HIPAA compliance for businesses

  • Define, present, and develop an employee privacy policy.
  • Recruit a dedicated security staff committed to the compliance set of rules considering the implementation of the Health Insurance Portability and Accountability Act with obedience.
  • Execute an internal audit process monthly for employees to follow HIPAA law regulations and non-disclosure of valuable employee assets. Accordingly, this will develop the prevention of data breach cases with an investigation.
  • Encourage email security policies.

    Train staff with the promotion of e-mail security best practices to avoid phishing cases. Consider strong email passwords, and give authority to your operations with multi-factor authentication. Activate a spam filter and consider making setting changes to block suspicious emails.
  • Enhance the value of HIPAA regulations with management’s consideration of clear training procedures.
  • Perform intense research about data breaches, what signifies a data breach, its consequences, solutions to prevent data breaches, and the level of impact it will have on your business. Also, work on the documentation required with blueprints, kind of a design plan for avoiding any severe business impact must be checked.


Accountability with responsibility for every service delivery plays a significant role in HIPAA regulation and supervision. Governance and direction according to HIPAA rules must be executed considering the upcoming trends of remote working with changing patient care that offer telemedicine services. Governance, Risk, and Compliance-oriented approach must be followed by serious execution of HIPAA regulation practices on a larger scale with appropriate measures.

Take your healthcare business to a higher level with our cyber security solutions. For more details of PruTech Solutions, click here.

The effect of COVID-19 on Indian Banking Services

Resilience has been seen in the economic effects of the COVID-19 pandemic on India’s banking sector. However, some of the concerns experienced during the pandemic were credit risk, online fraudulent transactions, crisis management, and cyber threats. Lack of access to systems and data was a major technological challenge as well.

Prioritization of certain frameworks considering the COVID-19 pandemic to resolve immediate concerns and certain policies to get back economic productivity was required. Multi-dimensional initiatives were the order of the day given corporate frameworks and commercial endeavors.

Indian Cyber Security solutions in the banking industry

Cyber security solutions imply the use of technologies and practices with the purpose of network protection, device protection from virtual attacks for the prevention of defects due to unauthorized access. Ensuring you have a good cyber security solution in place ensures a strong foundation for highly reliable banking services.

Cyber security is essential for the protection of commercial assets and personal data from malicious attacks. As you can imagine, the confidentiality of clients’ banking data and customers’ credentials are of utmost significance. Online transactions using debit cards and credit cards must be enhanced with cybersecurity.

Why your digital banking solution needs cyber security?

According to the National Crime Records Bureau, overall, online transactional fraud cases reported were 2,093 in 2019. In the year 2020, considering the COVID-19 pandemic, cases reported were more than 4000. 85% of online fraud transaction cases were analyzed in 5 Indian states. Having a robust cybersecurity framework in place will ensure the safety of banking data without any scope for unauthorized access, preventing any monetary loss for the bank and its customers. Disclosure of crucial and confidential customer banking details could lead to online fraudulent transactions with losses.

With a cyber security solution, you can prevent any loss from incidents such as unencrypted data, fraudulent transactions, malware, spoofing, third-party services, and phishing.

What to consider when planning your cyber security strategy

  • Appropriate governance methods, ethical policies, and code-of-conduct to be ensured
  • A cyber security solutions committee should be officially formed for the implementation of monthly audits considering the bank’s technical and commercial operations
  • Officially decide cyber security frameworks with parameters for prevention of future data breaches, online frauds, phishing, and any other unethical banking practices
  • Analyzing the intensity of exposure to cyber security and banking risks with methods such as Vulnerability Assessment and Penetration Testing
  • Ensure adherence and compliance to cyber security banking norms as one of the important Cyber security strategies

Root Cause Analysis of Cyber Security Threats in Digital Banking

The Banking, Financial Services, and Insurance (BFSI) sector include valuable roles of tax management services, internal audit services, business process management services, financial advisory services, fraud risk management services, and compliance services. Because these services deal with money and often people’s entire savings, identifying the root cause of online cyber security threats is essential.

Identity and access management should also be supervised. You can regulate and supervise banking duties by the provision of access granted only to required systems for each employee depending on their job role. Lack of awareness, an increase of ransomware, and no importance given to cyber security are other reasons.

Benefits of cyber security to digital banking services

  • General Data Protection Regulation – Regulation to be implemented for the protection of commercial banking data to avoid any mishaps is significant.
  • Service optimization – Execution of daily cyber security practices, offers the scope for transforming banking services to be effective, and perfect.
  • Integrated Security – Since the BFSI sector is highly-regulated, banks prefer investment in integrated technological solutions for all work aspects to be done in an integrated way in one place. This provides time and cost-efficiency benefits.
  • Machine Learning and Big Data Analytics –Analytics that includes keeping a check on the results and benefits of cyber security management policies for banking operations are significant. Cyber resilience must be promoted with the scope of analyzing security data and a real-time advantage.

The future of cyber security for the Indian Banking Industry

The Indian BFSI sector will continue to emerge considering adherence to cyber security management frameworks and implementation of certain strategies to prevent cyber frauds. Considering the pandemic and rise of online transactions, the scope for fraud might be possible. Analysis of past cyber threat banking incidents with their root cause identification is beneficial. In this context, being data vigilant from cybercriminals is the need of the hour.

Cloud-based cyber security services offer efficient workload management that will be safer for enterprises with benefits of operational efficiency, scalability, and agility. Preference for hybrid cloud strategies and cloud-based Cyber Security solutions will be seen. The use of automated products, automated services, and automated software with enhanced endpoint security will be reported.

According to the Indian Cyber Security Services Landscape Report, the size of Indian Cyber security services is estimated growth at financials of $4.3 billion in 2019 to $7.6 billion in 2022. This indicates the emergence of cyber security strategies for the prevention of cyber security threats. Data Infrastructure which is the foundation and crucial to banking must be under higher scrutiny considering cyber security threats in the future.

Looking for a cyber security service provider for your banking service? Reach out to us today.

A digital and cloud transformation revolution is happening across the globe and no corporate, large or small organization, or government can choose to shy away from it anymore. With all business and government entities relying heavily on computers and software for managing their activities, robust cybersecurity has become a primary goal. Continuous advancements and innovation in technology have brought a paradigm shift in cybersecurity trends that can be expected in 2022.

Here are the top 7 cybersecurity trends for 2022.

1. Integration of automation

The amount of data being generated, shared, and stored in the world is increasing exponentially every day. With this massive amount of data circulated, automation must be incorporated in businesses to give more systematic control over the data involved. The present-day hectic work-life demands professionals to deliver quick solutions, which makes automation even more valuable than ever.

In 2022, enhanced security measurements will be integrated into the agile processes to create more secure networks and software. Large, complex web applications are more difficult to safeguard, making automation and cybersecurity to be a primary priority in the software development life cycle.

2. More investment in cybersecurity insurance is expected

Cybersecurity insurance is a cybersecurity trend that’s expected to gain more momentum in 2022. Companies will take cyber insurance more seriously. Policies are expected to mandate higher standards of security. The increase in cyber security attacks (and the subsequent insurance payouts becoming frequent and costlier) has called for cyber insurance companies to increase the cost of cyber insurance. A similar increase can be expected in 2022. What’s more, is that insurance policies will now require the execution of stricter security standards to minimize the risk of cybersecurity incidents.

3. Cloud could also be targeted

With millions of organizations worldwide taking the cloud route, enhanced security measured have to be taken by cloud providers and vendors. The cloud environment also has to be regularly monitored and updated to secure the data from being leaked. Cloud applications, like AWS and Azure, are well-equipped when it comes to security. However, it is the user’s end that might act as a potential entry point for malicious attackers and software.

4. Securing mobile networks will become key

Our world revolves around our smartphones. With the pandemic blurring the lines between personal and professional life, mobile has become the new target for many cybercriminals. In 2022, there might be a more than 50% increase in mobile banking attacks or malware, making our smartphones a high-risk prospect for attackers.

All our data, including pictures, transaction passwords, emails, and messages are prone to cybercrime. Smartphone malware and virus might get the attention of cybersecurity trends in the following year.

5. Internal cybersecurity threats might increase

A data breach research by Verizon giving insights on cybersecurity trends found that 34% of cyberattacks were indirectly or directly linked to employees [1]. With companies working on hybrid models, the risk of human errors leading to cyberattacks is expected to increase in 2022. Knowingly or unknowingly, a huge percentage of cyberattacks are caused due to human error. Even a small loophole or human error can bring the network of the entire organization down and result in millions of stolen data points.

6. 5G Network, IoT and Cybersecurity

The advent of 5G networks is giving birth to a new, improved era of connectivity. The technology that’ll benefit the most from the growth of 5G is the Internet of Things. Though there are no doubts about the utility of IoT, the communication amongst multiple IoT devices also makes them vulnerable to cyber-attacks and unknown bugs. The 5G network is comparatively new and might bring various network attacks that we aren’t aware of. 5G architects need to be strict when building sophisticated 5G software and hardware to reduce the risk of data breaches.

7. Targeted ransomware

This is one of the most important cybersecurity trends which cannot be ignored. In developed and developing countries, industries depend on software and automation for daily operations. Targeted ransomware targets specific industries to cause harm on a larger level. For example, the ‘Wanna Cry’ attack that was targeted on Scotland’s National Health Service hospitals affected over 70,000 medical equipment and devices. Usually, ransomware attackers threaten to make data public or sell in the black market unless the ransom is paid, but it can still cause harm to organizations, and sometimes nations too.

It is expected that companies worldwide will spend over $100 billion on protecting their IT assets alone in 2021. IT infrastructure security is not a choice anymore, it is an integral part of any organization. We, at PruTech Solutions, offer cutting-edge cybersecurity solutions for businesses. Reach out to us to discuss your requirements here.

Sources

[1] Welivesecurity by ESET, Verizon (2019) “Verizon’s data breach report: What the numbers say” [Online] Available from: https://www.welivesecurity.com/2019/05/13/verizon-dbir-what-numbers-say/ [Accessed December 2021]

India’s technology startup ecosystem is growing at a superfast pace. While global tech giants are setting up a base in India, home-grown technology startups are also going global and gaining international recognition. Undoubtedly, the startup ecosystem is developing some of the most groundbreaking technologies in India. However, the fast-paced advancements in startups have also made hackers around the world more interested in the data of Indian consumers.

India is a leading startup destination in the world, with some of the best e-commerce, food delivery, and ride-booking apps in the world. The Indian government has also been tremendously supportive of the sector and announced several policies that support the growth of the startup ecosystem. Moreover, Indian and global venture capital firms have shown interest and trust in Indian startups by investing in them generously. But in today’s day and age, the success of a startup cannot be only measured in terms of funding, valuation, or even profit. It is also measured in terms of how well equipped a startup is to combat cyber threats.

Due to the lack of a robust cybersecurity system and strategy in place, most startups and small businesses are less secure and easy targets for hackers. Though most of the startups are technologically sound when it comes to offering quality products to their customers, many startups do not have strong IT backup systems and cybersecurity systems. This makes them more prone and vulnerable to data breaches and cyberattacks.

Having a simple yet effective cybersecurity system results in a secure online environment for working, enables seamless communication, and ensures data security for the organization and its people.

How can startups protect themselves from data breaches in 2022?

There are many financial implications associated with companies facing cyberattacks. A 2021 IBM report found the average cost of a data breach among companies around the world to reach $4.24 million per breach[1]. However, the biggest cost that businesses have to pay is the loss of customers and their trust in your startup after a breach.

Apart from financial implications, startups that become victims of cyber attacks also might have legal consequences, like government fines and penalties.

Here are some ways in which you can secure your startup from being bullied by cybercriminals:

1. Install anti-virus on all devices (computers, tablets, smartphones, etc.) used by your startup. There is free anti-virus software available, but it does not necessarily offer the optimum level of protection required by a startup.

2. Enable two-factor authentication. This adds an extra layer of protection and security and restricts unauthenticated access.

3. Use the cryptographic method for setting passwords in which certain characters are inserted in every password during the encryption process. This method essentially makes stealing password hashes worthless.

4. Make sure the software you are using is updated. The updates released by software-makers usually include security improvements. You can also schedule automatic software updates on your devices during weekends or holidays to avoid workflow interruptions.

5. Create multiple backups of your startup data in secure environments. Having data backup means that even if your startup becomes prey to a cyberattack, the daily operations of your business won’t be affected.

6. Provide cyber security training to your employees. Through this training, the employees can be educated about how to spot fraudulent texts and emails, and what steps they need to take if they come across any such online messages.

7. Protecting just your software isn’t enough. For ensuring 100% security of your startup from data breaches, you also need to secure your hardware from theft. Install tracking software on all your devices so that they can be located in the event of theft or loss.

When it comes to securing your startup’s network, it is always beneficial to be safe than sorry. Even after implementing the above cybersecurity measures, regular security audits should be conducted to make sure that your infrastructure is secure.

PruTech offers industry-leading cybersecurity services, including Next Generation Threat Management, Data Compliance & Audit Assessment, and Identity and Access Management Services. Learn more about our services here.

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Source

[1] IBM & Ponemon Institute (2021) “Cost of a Data Breach Report 2021” [Online] Available from: https://www.ibm.com/in-en/security/data-breach [Accessed December 2021]

Vulnerability Assessment and Penetration Testing, or VAPT, are cyber security testing tools and techniques that are centered around identifying vulnerabilities in the server, network, and system infrastructure. Both Vulnerability Assessment as well as Penetration Testing serve different purposes in cyber security but are performed to attain goals that complement each other.

In this blog, we talk about what Vulnerability Assessment and Penetration Testing are, how the two work together to secure your organization’s network, and why is VAPT important for your organization’s cybersecurity plan.

What is a Vulnerability Assessment?

Vulnerability Assessment is a quick automated review of an infrastructure’s servers, network devices, and systems. In VAPT, a Vulnerability Assessment is done to identify any critical configuration issues and vulnerabilities that malicious attackers might take advantage of. It answers the question: What are the issues in my organization network, system, and server?.

Tools for vulnerability assessment help in simply discovering vulnerabilities. The VA tools and scanners alert organizations about the preexisting flaws in their code and their location. However, Vulnerability Testing cannot differentiate between the flaws that can be exploited to cause any harm and those that can’t.

What is Penetration Testing?

A Penetration Test is an extensive and detailed test conducted by experts to identify the numerous possible routes from where attackers may break into a system or network. Penetration Tests, also known as PenTests, help in answering the question: What can cyber attackers do to break into a network?

Apart from vulnerabilities, Penetration Testing (PT) helps in identifying the level of the potential damage the vulnerability might cause if exploited. The test shows how damaging a vulnerability could be in reality if exploited. It also helps in gauging the compromise an attacker may carry out if they get past the perimeter.

How do the two technologies work together?

Vulnerability Assessment and Penetration Testing is a process used for finding security bugs, issues, flaws, and vulnerabilities within a software program, a computer network, a system, or a server. As the two tests have different purposes, VAPT can be misunderstood as 2 different network and security testing techniques.

Interestingly, the two testing processes complement each other and are usually combined to yield better results. The objective of Vulnerability Assessments is entirely to look for and find bugs that can become a way for an attacker to penetrate a system. Penetration Testing is about exploring the bug by exploiting it to assess how much damage can be caused if exploited in reality.

Why is Vulnerability Assessment and Penetration Testing (VAPT) important?

Regardless of which industry your company belongs to, VAPT is a must. Vulnerability Assessment and Penetration Testing is all about assessment and verification of the cyber security situation of your company. VAPT is crucial for any business because of the following reasons:

  • VAPT provides organizations with information and in-depth insights about potential cyber security threats
  • It helps companies identify errors in coding made by programmers that may lead to cyber-attacks
  • VAPT provides end-to-end risk management and safeguards organizations from loss of money and reputation
  • It secures software and apps from external as well as internal attacks
  • It assists in assessing the tolerance of a network or system in case of cyber attacks
  • It helps in the effective implementation of the cyber security strategy of the company
  • It significantly reduces the risk of business downtime

Not securing data and systems can make companies lose out on a lot of money. It can also stain the company’s reputation and shake up its credibility in the market.

Vulnerability Assessment and Penetration Testing helps in checking whether your organization is safe from cyber-attacks or not. It helps you discover all potential attack surfaces and security loopholes so that you can fix them before any damage occurs. It also allows data security compliance to store customer data in applications and networks and protect them against any risk of attack.

At PruTech Solutions, we offer cutting-edge, end-to-end cyber security consulting solutions to our clients. Click here to learn more about our cyber security consulting.

The Opportunity

India’s premier research and development organization, DRDO, required a web application security assessment along with STQC certification services for their applications managing several business functions such as admin, finance, HR, inventory, and more.

The Solution

To achieve this goal, the PruTech Solutions India team audited the application and discovered certain vulnerabilities and weaknesses.

Download our case study to learn more about the solution and impact.

About DRDO    

DRDO is the Ministry of Defence’s research and development wing, with a vision to empower India with cutting-edge defense technologies and a mission to achieve self-reliance in critical defense technologies and systems, while equipping our armed forces with state-of-the-art weapon systems and equipment per the three Services’ requirements.