By Kamal Srinivasan, Senior Vice President of Product and Program Management at Parallels (part of Alludo)
Cyberattacks are constantly changing and becoming more sophisticated as technology progresses, posing new challenges and risks for organisations that need to keep up with the latest cybersecurity practices and solutions. According to a recent survey, 41% of organisations from different sectors experienced security breaches in the past year, which shows the severity and prevalence of the threat. For organisations in the finance sector, this is especially critical. Since they handle sensitive personal information, financial transactions, and regulatory compliance, cybersecurity should be a top priority in every aspect of the operations.
Cybersecurity is a critical aspect that demands careful planning and resource allocation, especially in these times of economic uncertainty and budget limitations. It may be tempting to cut corners on cybersecurity, but that is a dangerous path to go down. Cybersecurity is not something that should be compromised on, as it can have serious consequences for your organisation. Ensuring that cybersecurity solutions and technologies are a top priority, and allocating the resources they deserve, is paramount. A priority several organisations are starting to realize, as a recent study shows 78% of organisations worldwide plan to increase their security budgets in the coming year.
The landscape of cybersecurity threats keeps evolving, but two of the most common ones are weak passwords and malicious links that employees click on without realizing the risks. These threats can expose your sensitive data, compromise your systems, and cause disruptions to your operations.
There is a trade-off in limiting web access by blocking certain domains or sub-domains against productivity gains for the organisation. Many financial companies are taking the approach of strengthening defences with technical controls. You need to choose wisely and invest in solutions that can effectively isolate and secure your users from the constant dangers of the internet. Some of the solutions that are worth considering are remote browser isolation, VDI, or secure remote workspaces. These solutions can create a safe environment for your users to access applications or web applications, without exposing your data, network, or devices to malware or other threats. These solutions can also give you a better return on investment than spending money on costly cybersecurity training, for example, which may not be very effective or practical.
Alongside securing internal networks, Zero Trust must extend its focus to securing end users as they use the internet for day-to-day tasks. This includes implementing Secure Access Service Edge (SASE) solutions that combine network security and wide-area networking. Ensuring that there is consistent security for remote users whilst they are using the internet for work-related tasks.
Value of Zero-Trust vs cyber education and training
Even though cyber education and training are crucial components of a comprehensive cybersecurity strategy, both data and cybersecurity trends indicate that a zero-trust approach is more effective in today’s ever-evolving threat landscape. Even with education and training efforts relating to cyber security becoming increasingly more effective in combatting cybercrime, human error remains a significant factor in security breaches. On the other hand, if the cultural practice is implemented properly, Zero-Trust enforces strict access controls and continuous monitoring, reduces the impact of human-related vulnerabilities. Evidence of this is supported by the fact that 85% of security breaches involve compromised credentials, underscoring the need for robust access controls and authentication mechanisms provided by Zero-Trust.
The Future of Zero Trust
Zero Trust is characterised by rapid evolution, widespread adoption, and a fundamental shift in budgetary priorities. Where previously this was just a buzzword, this is no longer the case. In fact, it has now become a necessity for businesses of all sizes and scales to protect their digital assets in an increasingly hostile cyber landscape. By investing in the essential technologies mentioned previously in the article and following Zero-Trust principles, organisations can enhance their cybersecurity posture.
As cyber threats continue to increase in sophistication, Zero Trust architectures must also evolve to counter these advanced attacks. Some key focus areas for the future include extending Zero Trust principles to all endpoints and assets, not just managed devices within the corporate network. With the rise of remote work and BYOD policies, unmanaged endpoints are increasingly vulnerable to compromise. Automation through AI and machine learning will also be critical for rapidly analysing data at scale identify anomalies that may indicate malicious activity.
Additionally, Zero Trust must move beyond a network-centric approach to also protect applications and APIs, as critical data and workloads shift to the cloud. Robust authentication, micro-segmentation and granular access controls should be applied across on-premises and cloud-based applications. Lastly, as hybrid work models become the norm, zero-trust architectures must seamlessly secure both remote and internal users to prevent any gaps in defence.
