Security News
As attackers rely on a range of automated offensive testing tools to scan their targets' attack surfaces and propagate inside their network, a purely reactive defensive stance based on detection and response is increasingly likely to be overwhelmed by an attack. The logical tactical move is to emulate attackers' TTPs and behaviors beforehand by integrating attack simulation tools to continuously validate the impermeability of the attack surface as a whole, the efficacy of security controls, as well as access management and segmentation policies, etc.
KELA surveyed 400 security team members in the US who were responsible for gathering cybercrime threat intelligence daily to better understand if they're proactively scanning the dark web and other cybercrime sources, what tools they're using, the gaps they see in their cybercrime threat intelligence approach, and more. "We found organizations may be less prepared for threats emerging from the cybercrime underground than they should be," said David Carmiel, CEO of KELA. "At KELA, our extensive intelligence expertise has shown us just how complex the cybercrime underground really is. The threats are much more comprehensive, and what organizations know and refer to as the dark web is changing within the hour."
While phishing remains the most common attack vector, threat actors have introduced tactics, techniques, and procedures that don't require a victim to click on a malicious link or open a weaponized document to become infected. Instead, they are utilizing exploits, such as Eternal Blue, and uncommon programming languages and obscure data formats to deposit ransomware directly on to victims' systems, thereby acquiring the persistent access they need to exchange encryption keys and process payments.
How can a CISO effectively explain the cost of a data breach to the company's Board? What type of information drives the point home for a non-technical audience? To explain the cost of a breach is highly dependent on the breach itself.
At the epicenter of this is data loss prevention, a category of tools that inspect content and contextually analyze data in any state. While there are instances of staff actively leaking data, many data leaks occur due to employees losing sensitive data in public, providing open Internet access to data, or failing to restrict access in line with organizational policies - often genuine mistakes which result from a lack of awareness and training rather than any bad intentions.
Interestingly, the expectations for a friction-free journey have made financial institutions rethink the false dichotomy between maintaining stringent security and a positive customer experience. Savvy financial institutions are realizing that they don't need to choose between customer experience and fraud loss; rather, they need to identify and implement more efficient and effective tools when it comes to verifying with whom they are conducting business.
There's just one problem: most fraud prevention companies aren't heeding the signals and drinking the DevOps deployment Kool-Aid. Let's look at how other fraud prevention companies can benefit from this approach-and what it will take for fellow fraud-stoppers to embrace the DevOps deployment model.
European merchants spent nearly €7 billion on fraud detection and prevention in 2021 alone - more than three times the value lost to fraud in the same year, CMSPI estimates. These practices are unsustainable for the continent's merchants, who are currently facing compound annual fraud growth of 1.5%. As retailers' margins are squeezed, fraud and its wider impacts are just another inflationary pressure that see merchants and good customers losing out.
The global fraud detection and prevention market is expected to grow from $26,511. Fraud detection and prevention systems are software applications used to provide analytical solutions for fraud incidents and help identify or prevent future occurrences.
Fraud detection is simply a necessity nowadays, but it's only the beginning of what organizations need to do to protect themselves and their users. Knowing what's fraud is only half the battle: you need to be able to catch it in time to prevent the fraud from succeeding.