Story image

Companies caught between crooks and compliance - Centrify

12 Jun 2018

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.”

Mozilla launches Firefox Send, an encrypted file transfer service
Mozille Firefox has launched a free encrypted file transfer service that allows people to securely share files from any web browser – not just Firefox.
Ransomware’s decline equals cryptomining’s rise
ESET’s Security Days Conference recently took place to go over the current threat environment and what to look out for next.
IoT and DDoS attacks: A match made in heaven
A10 Network’s Adrian Taylor uses findings from a number of reports to illustrate his point that advances in technology are facilitating cybercrime.
ForgeRock launches Sandbox-as-a-Service to facilitate compliance
The cloud-based testing environment for APIs enables banks to accelerate compliance with Open Banking and PSD2 deadlines.
Cloud application attacks in Q1 up by 65% - Proofpoint
Proofpoint found that the education sector was the most targeted of both brute-force and sophisticated phishing attempts.
Singapore firm to launch borderless open data sharing platform
Singapore-based Ocean Protocol, a decentralised data exchange that promotes data sharing, has revealed details of what could be the kickstart to a global and borderless data economy.
Huawei picks up accolades for software-defined camera ecosystem
"The company's software defined capabilities enable it to future-proof its camera ecosystem and greatly lower the total cost of ownership (TCO), as its single camera system is applicable to a variety of application use cases."
Barracuda expands MSP security offerings with RMM acquisition
Managed Workplace delivers an RMM platform with security tools and services, such as site security assessments, Office 365 account management, and integrated third-party antivirus.