WHAT DO SECURITY CONSULTANTS DO?

WHAT DO SECURITY CONSULTANTS DO?

Security consults deal with various threats to physical and computer security. Security threats come in many forms such as computer hackers, terrorists, and attacks on physical assets. There are specializations for security consultants of building security, natural and man-made disaster prevention, or with computer security issues.

Some of the roles security consultants may do for companies or private individuals are installing physical protections of video surveillance and alarm systems. Physical security risks are issues for many companies and security consultants may determine physical security risks such as threats of violence in the workplace, the stability of a building during tornadoes, earthquakes, fires, or other natural disasters, and development of evacuation plans for personnel during emergencies. Security consultants also may advise on building maintenance issues.

What services does a security consultants provide?

Security consultants can also help to incorporate security changes at all levels of the company. Based upon the security audit that’s conducted, a security consultant, if allowed to, can implement various new security measures and procedures throughout the company, which can include security related to:

• Analyzing areas that are currently exposed and if they have had their security compromised in the past;

• Performing a gap analysis in order to determine if any areas of a company’s current security does not meet accepted industry standards;

• Gauging the work environment through performing interviews with important personnel and company employees;

• Providing a list of recommendations based upon found security vulnerabilities, which includes security measures that should be incorporated.

• Policies and procedures;

• Electronic surveillance and alarm systems;

• Security personnel.

A security consultant will work closely with management for the purposes of transparent communication and to make sure that any security changes that are implemented are done so within the allotted budget. The degree to which a security consultant can incorporate security changes depends largely upon this, in addition to the management’s instructions.

CyberSecOp Security Services has been providing expert security consulting services for decades. Make sure to contact us today to ask about our advanced security consulting services, which will be personalized to your company’s particular needs.

Risk Facing Financial Services

Risk Facing Financial Services

Financial services institutions have changed significantly over the last decade – from utilizing technology in new ways to stay competitive and drive efficiencies, to adapting business practices in light of the global financial crisis and recent narrow interest margin markets.

As these businesses evolve, they’re faced with a new range of exposures that can result in significant and lasting commercial costs, and traditional exposures come to light in a different context. Crime has also changed for these businesses, with a growing number of attacks against financial institutions taking place online and through digital means.

To better understand this changing landscape, we’ve outlined the top risks facing financial institutions today:

Social engineering and funds transfer fraud

Some of the most frequent cyber claims made by businesses in the past year involved funds transfer fraud and some form of social engineering. Funds transfer fraud is often carried about by criminals leveraging fraudulent emails or phone calls to request the transfer of funds from a legitimate account to their own. In some cases, fraudsters will pose as a senior executive appearing to give urgent instructions to a junior employee. While financial institutions have greater control processes, including separation of responsibilities, both banks and their clients are at risk of falling victim to these types of attacks, and as long as they continue to prove successful, we expect this threat to grow in both frequency and severity. Financial institutions should consider employee training on these newer forms of fraud, including how to identify phishing emails. Banks should also be concerned about their customers’ susceptibility to social engineering fraud, and should consider education campaigns where relevant.

 Adherence to post-crisis regulation

Following the mortgage crisis in 2007-2008 and the subsequent global financial crisis, the regulatory burden for banks has increased significantly. This brings additional costs when meeting these new requirements, along with higher potential penalties if an institution fails to comply. In many instances, resultant fines and penalties following regulatory failures are uninsured or uninsurable. Financial institutions should seek cover where regulatory enquiry costs and expenses are covered.

 Falling prey to predatory banking

Financial institutions have found themselves in a narrow interest margin environment, which means the pressure on banks to generate revenue from non-interest earnings is intense. In some cases, the desire to drive revenue through new or existing products has led to instances of selling inappropriate products to consumers, resulting in significant consumer claims. Institutions must ensure that their products are suitable and that they meet the needs of the consumer and the consumer’s expectations. It’s also important for institutions to ensure their remuneration policies do not inadvertently encourage the miss-selling of products. The fallout from consumer protection scandals can be costly not only from a legal and regulatory standpoint, but also in terms of damage to the brand.

 Reputational damage

Predatory banking is only one type of behavior that can bring reputational harm to financial institutions. Large institutions can suffer backlash for a variety of misdeeds made public, for instance the failure in anti-money laundering controls by Wells Fargo or HSBC, who were hammered in the media for their behavior. On a smaller scale, for regional and community-based institutions, the power of social media can mean that reputational damage spreads far faster than ever before.

 Systemic instability

Nearly a decade later, the effects of the global financial crisis are still being felt by financial institutions around the world. Recent concerns over Deutsche Bank’s operational cut backs and stock price decline have shown there is still uncertainty around the performance of even the biggest financial organizations. Additionally, recent instability in Europe – particularly in Italy and Spain, as well as the still incomplete negotiation – could have effect elsewhere, including the US, where European headquartered institutions such as Deutsche Bank, Barclays and HSBC are systemically significant institutions.

 Challenger banks and new technology

The traditional banking model is increasingly challenged by newcomers trying to use technology to replace existing processes and disrupt the status quo. In the UK and Europe, challenger banks are gaining steam and traction among younger generations and early adopters. In the US, there are few online-only challenger banks, but there is increasing competition from payment processors, online non-bank lenders and other providers who are edging their way towards areas conventionally controlled by banks. The risk for traditional institutions will not only be economic, but they will also need to provide more services to their clients to ensure they are competitive and relevant, and they may need to reassess their cyber exposure as they put more systems online.

Small Business Benefits from Cybersecurity Consulting Services

Cybersecurity news stories are becoming more and more prevalent, especially over the last few years. Whether the stories are about stolen emails or huge data breaches, it has been virtually impossible to ignore them.

While the major stories about compromised corporations and hacked email accounts make the news, cybersecurity is something that concerns everyone who uses a computer. Even small business owners can become victims of cybercrime. In fact, small business owners, in particular, need to be concerned with cybersecurity so they can protect their intellectual property. No matter whether the intellectual property is research or recipes, it is one of the greatest assets a small business has. Intellectual property is a prime target for hackers, whether they are stealing information for a competitor or running a ransomware scheme where a hacker demands something in return for the stolen information.

The trouble is that protecting that intellectual property and keeping other sensitive information, such as client and customer data, isn’t cheap. Many small business owners may not have the available capital to afford a cybersecurity system. Although this puts an owner in a tough spot, you can’t put a price on peace of mind, and neither can a small business owner afford the losses associated with becoming the victim of a cybercrime.

As with most things for small-business owners, cybersecurity comes down to a cost analysis. A cybersecurity system can be a big expense. On the other hand, a small business owner has to consider the cost of not having their systems protected from hackers. It’s hard enough for a large corporation to recover from a cyber attack, even with all the resources and infrastructure they have. According to the U.S. National Cyber Security Alliance, 60 percent of small businesses fold within six months of a cyber attack.

Ultimately, each business owner has to decide if and when a formal data security protection plan is necessary. A consultation with an expert may help you better weigh the pros and cons of taking on this type of business expense. Start with this list of Cybersecurity Consulting Providers as a jumping off point for your research. After comparing the benefits of these companies’ plans, set up a few consultations to see if and how these providers can best help protect your business, and what it costs to do so. You may find that it’s worth the investment.

Cyber Security Developments

Cyber Security Is The Backbone Any Online Businesses – Here Are Some Quick Tips To Keep Yourself Informed About The Latest Threats Surrounding Your Business.

                                    Cyber Security Developments

Within a standard nine to five working day, it’s said that there are almost two million data records lost or stolen. Cybercrime has become something of an epidemic in recent years – and it’s no exaggeration to say that everyone is at risk.

Hackers operate in an increasingly complex way and are happy to target small businesses and individuals, who are most likely to be vulnerable to attack. The nature of the threat changes as technology advances and so the only way to stay safe is to stay up to date.

But that’s easier said than done, right? How do you keep up to date with the latest cybersecurity developments?

Follow The News

When it comes to cyber security, ignorance is not bliss – it’s a recipe for disaster. It’s imperative that you identify and follow a news feed that you can trust. By doing so, you can keep on top of any fresh threats that have emerged, learn lessons from other cyber attacks and pick up the latest tips and advice from influencers and experts in this field.

News from this sector really shouldn’t be seen as the preserve of IT specialists – the scale and nature of the threat suggest that this should be of interest to everyone. There’s a burgeoning band of podcasts available on the subject for people who prefer to digest content in this way too.

Bring Up The ‘Security Question’

If you think that installing an anti-virus program is enough, then you’re mistaken. Don’t just presume that you’re safe because you have this because this is merely the first line of defense to root out attacks. By adopting a safety first mindset you can ensure that the way you handle your data is less risky.

Whether it’s securing your Wi-Fi network at home, managing and updating your passwords on a regular basis or the way you collect, collate and analyze data throughthe point of sale software at work, continually ask yourself ‘is this safe?’ Just as ignorance isn’t bliss, complacency could prove your undoing. Place ‘security’ high on the list of credentials to consider when buying new software or hardware, don’t just go for the cheapest option.

Training

Even the experts are constantly having to refresh their understanding of the threat posed by cyber attacks. It pays to search out training opportunities, especially if you’re a business. You are, after all, only as safe as the people operating your software and systems and you don’t want to put the security of your business in the hands of someone who is unsure about what they are doing. Individuals and businesses alike can find free learning materials on Cybrary to help plug any knowledge gaps they have.

It’s Good To Talk

Cyber attacks are incredibly common – but people don’t often enough talk about their experiences. Perhaps you’re afraid or embarrassed to have been caught out? There’s no need to be. In fact, talking with friends and colleagues could really help you to stay safe. Pass on tips about new apps, good software, neat tips and tricks and any new cyber attack tactics you have come across and you can help to do your own bit to combat the criminals.

By keeping up to speed with security news, refreshing your training, sharing tips and tricks and adopting a safety first attitude you’ll give yourself the best possible chance of staying on top of cyber security developments and, best of all, safe.

Secure Your Website, from Cyber Attacks

The average website was attacked 44 times a day during the last quarter of 2017, according to new research from security specialist SiteLock.

The company analyzed six million sites to identify trends in the behavior and tactics of attackers. Though the number of attacks represents a 25 percent decrease over the previous quarter, it still means a site could be attacked 16,000 times a year.

"A decrease in attacks does not mean that websites are safer. In fact, it may even be the opposite," says Neill Feather, president of SiteLock on the company's blog. "Hackers are constantly trying new avenues and even leveraging older tactics that continue to be successful. As our research shows, cybercriminals are now able to successfully breach a site with fewer, more targeted attacks. Now more than ever, businesses need to evaluate their current security posture and ensure they have both the right technology and a response plan in place should a hack occur."

Among other findings are that around one percent of sites sampled are infected with malware each week. Yet only 19 percent of infected sites are blacklisted by search engines. WordPress sites using plugins are twice as likely to be infected as sites that don’t employ a content management system. In addition, 46 percent of infected WordPress sites have the latest core updates. The average number of infected files per site increased by 0.8 percent to 309.

The malware being used is increasingly complex too. 51 of the malware found was categorized as Encoded Malware, meaning it was randomly generated or difficult to decode. These are often parts of groups of files called 'attack kits'. Backdoors made up 12 percent of files, resulting in more files being uploaded to infected sites.

NYDFS Cybersecurity Retain a CISO, CSO -Regulation Compliance

With cyber-attacks on the rise and comprehensive federal cybersecurity policy lacking for the financial services industry, New York is leading the nation with strong cybersecurity regulation requiring, among other protective measures, set minimum standards of a cybersecurity program based on the risk assessment of the entity, personnel, training, and controls in place in order to protect data and information systems, said Superintendent  in a press release issued by DFS, CyberSecOP helping financial organisation comply with the NYDFS manadates.  

With the New York Department of Financial Services’ (NY DFS) new terms poised to come into effect next month, banks and financial services companies operating in the state must start preparing for the change.

One of the most discussed issues in the controversial proposal is the requirement to appoint a CISO (chief information security officer). The move was met by heavy criticism at a hearing in December last year, leading to a massive backtrack from the DFS in a revised proposal.

Requirements of the CISO

The latest proposal removes any explicit requirement to hire a CISO, which is good news for many smaller or rural financial institutions that don’t currently have one in place. What this means, practically, is that the position is no longer necessarily exclusive. Banks can choose to designate someone to complete the tasks of a CISO while also performing other duties. Alongside this, the proposal does not state that the specific title of ‘CISO’ is required.

So what will the CISO (or CISO by any other name) be asked to do? The role now covers a broader set of responsibilities but in a less detailed manner. The designated person will have to provide an annual report to the board of directors (previously proposed as a biannual report) on the “cybersecurity program and material cybersecurity risks”, according to the proposal. It is now specified that the report must be “in writing” but it no longer needs to be provided to the NY DFS upon request.

The required content of the report will now also be less extensive. The CISO must identify and report only on material cyber risks rather than all cyber risks. This will involve “consider[ing]” those issues “to the extent applicable.” Additionally, the CISO will be able to tailor their focus to the issues appropriate to their organization.

Finding the right candidate

The NY DFS’ revision allowing the CISO to be an employee of the covered entity (i.e. an internal hire), or an affiliate or third-party service provider offers crucial flexibility for smaller financial institutions.

Companies with only a handful of employees – the most vocal in their frustration at the DFS’ initial plans – may look to shuffle their existing staff.

When doing that – or in making a new hire – there are certain things organizations need to look for. The CISO role is not just a tech-specific position, notes John Linkous, RSA Conference’s technology advisor, but they must now be “a trusted advisor to the business as a whole”. He adds:

“One of the most critical capabilities is simply the ability to understand the business much more intimately than his or her predecessors. Business drives the need for technology, and so security must be focused on how data is used within those business functions, across the end-to-end spectrum. Without a solid understanding of what the organization does, and how it makes money, an information security officer is going to have a fundamental disconnect with what’s needed to protect the enterprise.”

Third-party service providers or affiliates

Given the responsibility placed on the CISO, outsourcing the role to a third party can be an appealing proposition.

Going down this route presents its own set of issues, though. As TechTarget reported, third parties are “almost always” involved when it comes cyber breaches – arguing that it is either through a lack of accountability or oversight. While service-level agreements (SLAs) are always advised, the DFS has taken steps to ensure the right measures are in place. In response to the fear that financial services firms would not always have sufficient power to force third parties to accept their preferred provisions, the NY DFS now dictates that all third-party services must be performed under contractual provisions rather than by way of “relevant guidelines for due diligence.”

Source: www.itgovernanceusa.com