Story image

Companies caught between crooks and compliance - Centrify

12 Jun 18

Businesses in Australia and New Zealand are increasingly squeezed between defeating cyber-attacks and complying with surging volumes of government regulation, cybersecurity company Centrify says.

Centrify is concerned that complying with the increasing amount of red tape required to retain personal information may hamper the ability of a business to protect that customer information successfully.

Already this year, Australian companies have seen the implementation of national Notifiable Data Breach legislation and the mandating of GDPR regulations for businesses with a presence in Europe.

In addition, the Australian Prudential Regulation Authority (APRA) is currently developing a new proposed cybersecurity standard, CPS 234, planned to take force from July next year to further strengthen the Australian financial system.

In April this year, the New Zealand Government announced plans to refresh its three-year-old Cyber Security Strategy.

Centrify APAC sales senior director Niall King says regulatory protection of information privacy is completely commendable.

“The challenge that faces companies is they have to defend against cyberattacks while also having to comply with multiple regulations from diverse jurisdictions,” he says.

“In an ideal world, these two activities would be aligned, but the reality is that while companies must jump through bureaucratic hoops to demonstrate their regulatory compliance, the bad guys don’t follow rules, so they keep on innovating to find new ways to get illicit access to private data.

“The bottom line is that if companies want to keep the crooks out and comply with government regulations, they need to rethink how they approach cybersecurity by putting identity protection at the centre of their defences.”

King says that in many cases, hackers did not try to break in through corporate defences.

“The fact is, they use the path of least resistance by deploying our own weak credentials against us,” he says.

“Reports show that 81% of data breaches exploit weak, default or stolen passwords. That means four out of five breaches occur through a failure in identity protection.

“Centrify advocates a model of Zero Trust Security which assumes that every user - whether inside or outside the network - is a potential threat, so we verify every user, validate their devices, and limit their access and privilege to what is required to do their jobs,” he says.

“Centrify also uses machine learning to identify risky user behaviour and apply conditional access without impacting user experience.

King says, “Securing identity while still making it easy for employees and partners to do their jobs is the key to delivering cybersecurity and regulatory compliance.”

Palo Alto Networks integrates RedLock and VM-Series with AWS Security Hub
AWS Security Hub is designed to provide users with a comprehensive view of their high-priority security alerts and compliance status.
Juniper simplifies data integration to improve threat detection
Updates to the Juniper Advanced Threat Prevention Appliances leverage third-party firewalls and security data sources.
Is mobile shopping compromising your enterprise security?
When employees do their holiday shopping on company resources, security teams have a challenge with the surge in browsing and online transactions.
Different approach to malware detection needed – VMware
Security needs to move away from the traditional approach of chasing after arbitrary forms of malware.
Modernising ERP systems can help organisations comply with GDPR
“Organisations need to look for modern ERP systems that are specifically designed with GDPR in mind."
Cyber attacks develop complexity, target Windows sysad tools - report
The report explores changes in the threat landscape over the past year, uncovering trends and how they are expected to impact cybersecurity in 2019.
DanaBot banking Trojan: How to protect your organisation
DanaBot is a Trojan written in the Delphi programming language that includes banking site web injections and stealer functions.
Ping Identity announces new Identity-as-a-Service solution
PingOne for Customers is built for the developer community and provides API-based identity services for customer-facing applications.