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Cyber Identity Theft: What To Do?

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On January 28, 2022

In Cybersecurity

Identity theft is one of the most common and fast growing cyber-crimes. Cyber identity theft occurs when a fraudster steals a user’s identity or say poses to be that user by gaining access to his Personally Identifiable Information (PII). To get details of user’s digital PII fraudsters use scams like phishing attacks or planting a malware on the victim’s system.

What is his Personally Identifiable Information (PII)?

It is the unique personal information that enables a fraudster to prove his identity as the victim. Some examples of PII include:

  • Driver’s License
  • Banking Information such as account number
  • Login Id & Password for various online accounts
  • Social Security Number

In order to understand what happens if cyber identity is stolen, it is first important to know how online identity theft occurs. Some of the tactics used by fraudsters are:

  • Phishing: Cybercriminals send emails with compromised links that are disguised as essential information from a financial institution. The link, when clicked, opens a form that requires the user to provide his PII.
  • Pharming: Under this tactic, the browser is compromised. The user enters a legitimate address in the search bar of the browser, but is redirected to a malicious page designed to steal PII.
  • Malware: Specially designed malware can be downloaded on victim’s system via different sources to steal financial details.
  • Unsecure Websites: Make it a point to check the authenticity of the website before making an online purchase. Make sure to use official and secure websites with “https” prefix.
  • Weak Passwords: Using weak passwords for social and financial accounts leaves users vulnerable and susceptible to hackers.

Once the online identity is stolen, it can give rise to an array of problems for the victim:

  • Fraudsters can use the victim’s credentials to infiltrate an organization’s network and gain access to business secrets.
  • The PII can be used to gain access to victim’s financial accounts and exploit them.
  • The stolen identities can be sold by the fraudsters over dark web.
  • Victim’s identity can be used to enter the system and encrypt the data for ransom.
  • Stolen PII can be used to cause non-monetary damage such as hampering the public image.

In case you discover that you have been victimized by an identity breach, take following measures:

  • Regularly monitor your bank statements and credit reports for any unauthorized activity.
  • In case of an unusual activity, follow up immediately and consider putting your credit report on hold.
  • Consider using activity alerts services offered by financial institutions

For more information on cyber identity theft and methods to prevent them, contact Centex Technologies at (254) 213 – 4740.

 

Need Of IT Infrastructure Management For Fintech Businesses

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On January 27, 2022

In Cybersecurity

FinTech companies need to manage their IT infrastructure to ensure their daily activities and operations continue running efficiently. FinTech or Financial Technology firms heavily depend on complex IT and cybersecurity systems to manage their businesses. Over time, these systems undergo deterioration and become vulnerable to security attacks. As a result, FinTechs require upkeep and maintenance of such business-critical systems.

FinTech and BFSI (Banking, Financial Services, and Insurance sector) companies are encouraged to enhance their IT infrastructure for:

Reducing IT Security Risks – Planning, setting scope, and mitigating cyber threats are a part of a comprehensive IT InfraSec management program. High severity incidents, attacks, and data leaks are less frequent and have minimal impact when threat and vulnerability management is implemented. The first step in reducing the IT security risks is to determine the features essential to protect infrastructure. The next step is to set up monitoring and visibility infrastructure that ensures the ongoing scans of all systems. Identification of internal and external infrastructure vulnerabilities and threats is very important. Any MSSP (Managed Security Service Providers) could be called in to provide their services so as to speed up the deployment of security across the FinTech company. MSSPs (Managed Security Service Providers) help in performing threat detection and incident response exercises and simulations. They also help in hunting threats across the organizational systems and network. Cybersecurity professionals from MSSPs perform root cause analysis to each and every incident that occurred within the infrastructure. Complying with government regulations and standards is also crucial to running FinTech businesses. MSSPs ease your journey to getting compliance certified.

Continuity of Operations – Even the most powerful cybersecurity frameworks can’t guarantee that there will be no incidents, leaks, or other cyber-attacks. A fintech company with good IT infrastructure management doesn’t have to shut down if sensitive data is lost or corrupted. Instead, the backups and data recovery plans are most likely in place. Infrastructure management also provides FintTech companies with effective incident management policies that include:

  1. Identification of the occurrence of malicious activity
  2. The relevant alerts logged and documented
  3. Analysis and investigation procedures implemented
  4. Adjustment and assignment of the tasks to professionals
  5. Remediation and resolution of alerts and incidents
  6. Customer Feedback is analyzed for continuous improvement

Implementation could be scaled-up and down – The deployment of substantial IT infrastructure, frequently on short notice, is one of the most difficult tasks that FinTechs face. This procedure can be made simple by good infrastructure management, that allows the company to scale up and down as needed. Infrastructure management encompasses assistance with architecture implementation at all stages of the process. This includes original planning, development and acquisition, lifecycle management, and secure system termination. A strong managed architecture implementation package should also interact seamlessly with any current risk and incident management infrastructure. To entirely protect the sensitive assets, architecture implementation should also involve extensive training and awareness services. This ensures that all stakeholders understand their duties and how to uphold them.

Well-organized regulatory compliance – Another reason for the FinTech industry is ensuring compliance with numerous legislations. The PCI-DSS applies to any BFSI organization that processes credit card transactions or cardholder data. PCI-DSS is the acronym for Payment Card Industry Data Security Standards. Many businesses may be forced to perform SOC audits due to governmental or industry pressure. This is to ensure that the AICPA’s (American Institute of Certified Public Accountants) SOC requirements are met. SOC stands for Security Operations Center. Fintechs working in or near the healthcare sector will almost certainly need to comply with HIPAA, either as covered firms or business associates. HIPAA stands for Health Insurance Portability and Accountability Act. These are just a handful of the compliance issues that companies in the FinTech industry might face. A regulatory compliance advice package should be included in every comprehensive infrastructure management program. That package must optimize and streamline compliance through assessment, mapping, and reporting.

For more information on IT infrastructure management for enterprises, contact Centex Technologies at Killeen (254) 213-4740, Dallas (972) 375-9654, Atlanta (404) 994-5074, and Austin (512) 956-5454

 

Securing Network Infrastructure Device

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On January 24, 2022

In Security

PDF Version: Securing-Network-Infrastructure-Device

Human Factor Is One Of The Biggest Contributors To Cybersecurity Threats

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On December 28, 2021

In Cybersecurity

All cyber security actions, in one way or another, entail human engagement at some point. Hence, the human component should be regarded as a core part of cybersecurity.

Insiders affected by phishing and spear-phishing emails as well as unauthenticated scans and exploits performed by external hackers are two of the most dreadful threats to any network infrastructure. Credential thefts resulting from shoulder surfing, or social engineering the employees are prevalent for a long time now and employees still fall for such trivial illusions by hackers. These threats are usually a result of employees being complacent or ignoring common cybersecurity practices.

Four human factors that are often preventing the organization from adopting advanced cybersecurity measures are:

  • Application usability and accessibility – Usually, applications designed with a security-first approach lacks a user-friendly UI (User Interface) and hence lose mass appeal. People are not encouraged to be cautious or wary because of user-friendly designs. The efforts DevOps take to safeguard users are frequently meant to disrupt the DevOps flow. Making things more secure is already a Sisyphean process. While making things less secure is like dragging that same boulder downhill. This effect is amplified for persons who have special accessibility needs, such as vision impairment.
  • Cybersecurity skills – Enterprises are having a hard time hiring and retaining employees in cybersecurity roles for a variety of reasons. There exists a misconception about Cybersecurity as a career path; that it is only fit for people who have been steeped in code. Those interested in a career in information security will often discover that an entry-level position requires prior work experience. Moreover, for some businesses, cybersecurity is not a priority. All these reasons make hiring cybersecurity specialists a hard task and many employees quit mid-way into this domain.
  • Challenges to implementing solutions – Over the period of time, employees become comfortable with how a particular process works or how a software functions. It may be difficult to convince them about the changes to be made in order to enhance security of IT systems. As a result, cybersecurity takes a back seat in organization’s priority. Employees need to be open to embracing change in performing their business-as-usual activities by introducing security measures in them.
  • No one-size-fits-all solution – Organizations must comprehend the cybersecurity posture and implement security policies according to the requirements of enterprise. While many solutions would look apt for a particular organization, there may be some elements which may not fit in a particular scenario and may lead to security vulnerability. Understanding cybersecurity solutions and how they will impact operations of an organization is an important human function, which if not done properly can either lead to cybersecurity vulnerabilities or production/ operational losses.

Centex Technologies provide cybersecurity audit and solutions for businesses. For more information about how to keep your business processes secure, contact Centex Technologies at (254) 213 – 4740.

How Do Automated Penetration Testing Works?

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On December 27, 2021

In Security

Penetration testing looks for security flaws in the company’s web-facing assets. A thorough pentest not only detects vulnerabilities, but also explores potential exploits and forecasts the system’s impact. It’s a time-consuming and demanding technique. It is, however, crucial.

What exactly does automated penetration testing entail?

Penetration testing has generally been done manually, with automated methods being used only on rare instances. This is because the primary purpose of a penetration tester is to think like a hacker and obtain access to the system with least effort. This also involves circumventing critical security systems. Automated tools are unable to do so. Penetration testing looks for security flaws in the company’s web-facing assets.

Is testing the apps in an automated penetration sufficient to identify security flaws?

The problem of sporadic and infrequent vulnerability testing has been solved by implementing automated penetration tests. Automated penetration testing, on the other hand, excels at identifying low-hanging fruit. It cannot, however, test more complex (or trivial) problems as rapidly as a security researcher. Because automated penetration testing is algorithm-based, comparable results are achieved under identical conditions. In any case, an automated pentest does not present the entire picture. It is insufficient in terms of compliance.

A human-performed manual penetration test can identify business logic difficulties, coding flaws, and loopholes that automated scanners cannot. As a result, manual penetration testing isn’t completely off the table. For optimum security, automated penetration testing should be coupled by manual pentesting on a regular basis.

How do automated penetration testing tools function?

Automated penetration testing software replicates the procedures used by human penetration testers. These techniques are also imitations or simulations of hacking and cybercrime tactics employed by actual hackers and cybercriminals. When compared to traditional penetration testing, the use of AI and machine learning can make the tests easier to run, but there are limitations.

The term “automated penetration testing” typically refers to a wholly automated method. Because artificial intelligence is so prevalent, almost every pentest contains some automated functionality. However, in the case of completely automated exams, the sole interaction with another human occurs generally prior to the test. Human participation is also essential throughout the negotiating process, as well as after the test, when operationalizing plans based on testing findings.

To function efficiently and successfully, every automated pentesting programme must be provided with the following human inputs:

  • Determine your testing needs – The first step is to establish what sort of test you need to conduct on your system and how extensive the test should be depending on the system’s use and needs
  • Determine the testing methods – The next step is to select the best test technique for your needs. It might be automated, manual, or a combination of both.
  • Schedule a test appointment – Create a timetable for your testing activities. Penetration testing often entails a set of operations spread out across time. It is critical to plan your testing operations in order to reach your deadline and prevent overworking the system.
  • Select the appropriate testing equipment – There are several automated tool configurations available for penetration testing. The pentester can choose static or dynamic, and vice versa.
  • Determine the required testing frequency – It’s also critical to choose the best test frequency, which might be based on an industry standard or a professional’s choice. Whatever approach you employ, it’s vital to schedule and commit to frequent retests.

Prepare the resources needed for storing and documenting the results.

This is an essential component of a penetration test. A pentester must keep track of test results. These reports may be used as a reference point in the future.

The Most Important Advantages of Automated Penetration Testing

A. Tests are carried out at a high frequency and at a quick pace.

Traditional testing yield results far more slowly than automated pen-tests. This speed allows for periodic or recurrent testing rather than one-time occurrences.

B. There are numerous scopes defined in test settings.

Because tests may be performed on a regular basis, they can begin at numerous weak points to give the widest possible range of information concerning vulnerabilities.

These points are especially crucial in light of legally enforced security limitations. To satisfy compliance framework standards, automated penetration testing technologies are often employed. The PCI-DSS (Payment Card Industry – Data Security Standard) risk scanning criteria may be easily met by doing periodic automated pen-tests.

Centex Technologies offers comprehensive online security solutions, such as security audits and penetration testing. Call (855) 375-9654 for additional details.

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