The identity and access management strategy for the remote workforce should ensure contextual authentication to establish the credentials of the users, apply risk-based authentication for measuring user risk profiles, and establish a multifactor authentication mechanism, a panel of experts says.
To help prevent cyberattacks, Bangladesh is likely to launch a computer emergency response team, or CERT, for its financial sector this year, says Debdulal Roy, executive director of Bangladesh Bank. But the timing will depend on how long the COVID-19 crisis continues.
In a video interview, a panel of experts describes why implementing a "zero trust" architecture for the remote workforce during the COVID-19 pandemic requires redefining access control and security strategies.
Organizations that have shifted to a remote workforce as a result of the COVID-19 pandemic should help in the battle against cybercrime by reporting all security incidents to law enforcement officials for investigation, says Brijesh Singh, inspector general of police, the government of Maharashtra.
Organizations in India need to ramp up their authentication efforts in light of a 40% increase in cashless transactions since the start of the COVID-19 pandemic, which has led to increases in attempted fraud, security experts say.
A sophisticated, highly targeted phishing campaign has hit high-level executives at more than 150 businesses, stealing confidential documents and contact lists, says security firm Group-IB. The campaign, which targets Office 365 users, appears to trace to attackers operating from Nigeria and South Africa.
The average ransom paid by victims to ransomware attackers reached $111,605 in the first quarter of this year, up 33% from the previous quarter, reports ransomware incident response firm Coveware, which sees the Sodinokibi, Ryuk and Phobos malware families continuing to dominate.
The notorious carder marketplace Joker's Stash is advertising a fresh batch of 400,00 stolen payment cards issued by both South Korea and U.S. banks, warns Group-IB. It says that on average, stolen APAC payment card data sells for five times more than stolen U.S. payment card data.
To deal with the problem of "shadow IT" during the COVID-19 pandemic, organizations should put in place redefined compliance and governance policies, take a multilayered security approach and adopt a security framework to prioritize risks, a panel of three experts advises.
Many governments are pursuing contact-tracing apps to combat COVID-19, but such projects risk subjecting populations to invasive, long-term surveillance - as well as insufficient adoption - unless they take an open, transparent and as decentralized approach, says cybersecurity expert Alan Woodward.
As phishing campaigns and hacker attacks spread during the COVID-19 global pandemic, it's more important than ever for organizations to promptly report fraud to authorities to help them crack down on cybercrime, says Dr. Karnika Seth cyberlaw expert and advocate at Supreme Court of India.
Singapore's open banking effort has expanded the attack surface, and the only effective defense is to enhance threat intelligence sharing among banks, retailers and third parties, says Tom Wills, a Singapore-based cybersecurity practitioner who is a consultant for financial institutions.
To ensure business continuity, companies that support India's critical infrastructure need to validate the functioning of the security controls and other tools deployed to support the remote workforce during the COVID-19 pandemic, says Mumbai-based Shivkumar Pandey, group CISO at the Bombay Stock Exchange.
Privileged access management is more critical as a result of the shift to telework during the COVID-19 pandemic and the ongoing movement of applications and data to the cloud, says Dr. Yask Sharma, CISO of a large national critical infrastructure organization in India, who outlines essential PAM components.