Posts

Multifactor Authentication

Multifactor Authentication: A Critical Piece of Your Cybersecurity Strategy

Multifactor authentication (MFA) is a security technology that requires multiple methods of authentication from distinct categories of credentials to verify a user’s identity. It is a crucial component of a robust multilayered cybersecurity posture to help mitigate the risk of a cyberattack.

It is also considered a best practice for organizations of all sizes and across all sectors to meet compliance standards—especially in highly-regulated sectors like financial services and life sciences.

[ez-toc]

Multifactor AuthenticationMultifactor Authentication Explained

The multifactor authentication method should be familiar to all readers at this point. Companies from Apple and Google to Facebook and Amazon utilize (or require) multifactor authentication to reduce risk. Many more will follow in their footsteps as the threat landscape intensifies from cyberattacks and data breaches and as more regulatory agencies require the process.

When MFA is implemented, systems require users to present a combination of two or more qualifications to verify their identity for login. The first authentication consists of a password, which is all that’s required with single-factor authentication. The second verification can vary but often involves asking for a code sent via text or email to a device or account that has previously been verified.

MFA increases security because even if one credential becomes compromised, unauthorized users will not be able to meet the second authentication requirement and will not be able to access the device, network, or database. MFA prevents the unauthorized access of data—including personally identifiable information, intellectual property, and financial assets—by a third party who may have discovered a single password through illegal channels or via a phishing attack.

Multifactor authentication is an element of identity and access management, which consists of policies and practices designed to manage access to enterprise resources and keep systems and data secure. Additionally, Privileged Access Management (PAM) is a subset of IAM that allows for an even more granular distinction between users and access to more sensitive data.

Two-Factor vs. Multifactor vs. Adaptive

  • Two-Factor Authentication (2FA) is the simplest and most common form of multifactor authentication. With 2FA, users must supply two distinct proofs of identity for access. In nearly every case, two-factor authentication is a massive improvement over single-factor.
  • On the other hand, 2FA might not be flexible or robust enough for certain situations and specific industries. With MFA, more than two factors are required for authentication, enabling more variables and security. To elaborate, MFA can grant degrees of access across a broad spectrum of possibilities depending on various data points and multiple factors obtained from the login.
  • Adaptive Authentication is yet another certification tool that uses contextual information and business rules to determine which authentication factors to apply to a particular user, at a certain time, and in a specific situation. It combines user authentication with AI and is an effective tool for balancing security requirements and the user experience. Adaptive MFA also makes access decisions based on data, such as: consecutive login failures, geo-location, geo-velocity (or the physical distance between consecutive login attempts), device type, time of day, and 3rd party intelligence data.

MFA and Multilayered Cybersecurity

While MFA can help strengthen your security, it is still best employed as part of a multilayered cybersecurity program based on a defense-in-depth strategy. Defense-in-depth is a cybersecurity model that employs continuous multilayered security for real-time, holistic protection. The reality of today’s cyber threats is that no one cybersecurity practice is enough to protect on its own. Instead, overlapping layers of cybersecurity protections are recommended. A layered defense helps security organizations reduce vulnerabilities, contain threats, and mitigate risk.

It is also important to note that it is still critical to practice good cyber hygiene, even with MFA. Organizations should set password management policies and educate end-users about best practices. Such policies should include requirements for unique passwords and review the frequency of password rotation, among others.

Related Content →  Evaluate your cybersecurity posture with our  Cybersecurity Checklist.

What is Right for Your Organization?

The answer to this question depends on the specific needs of your business. However, in general, as the threats faced by organizations have become more sophisticated, it has become clear that single-factor authentication is no longer enough to protect data and systems.

Organizations must implement additional layers of security, and MFA is an essential part of that process. Therefore, when selecting an MFA solution, it is important to consider your firm’s needs and choose a solution that will be easy to use and manage by both your IT team and your end-users.

Reach out to our security experts for help in determining which is the right solution for your business and security needs. We can help you assess your risk exposure, determine any compliance requirements for your sector, and evaluate the ease of deployment and implementation necessary, along with other factors.

About Chris

As Chief Technology Officer at Coretelligent, Chris Messer is a transformational and strategic IT leader who establishes and leads Coretelligent’s technical vision and technological development. Click here to learn more about Chris.

by
Year-End IT Planning

Year-End IT Planning & Reviewing Your IT Roadmap

Year-End IT PlanningAs we move into the last quarter of the year, it’s time for the annual review and realignment of your IT planning and strategy. Of course, you have actively been implementing your IT roadmap throughout the year, but a year-end IT planning and review is an opportunity to evaluate its effectiveness and update it for the upcoming year. Here are some things to keep in mind as you plan for the end of the year.

Year-End IT Planning and the IT Road Map

An IT roadmap is a strategic plan that outlines how your business will use technology to achieve its goals. A well-planned roadmap can help your business scale, improve ROI, reduce risk, and increase productivity.

Utilizing an IT roadmap ensures that your IT investments drive value and growth. In addition, a comprehensive plan can help identify areas of your organization’s IT infrastructure that need improvement and prioritize addressing them.

As with any plan, a strategic IT roadmap is only effective if you use it. A high-level annual review offers an opportunity to evaluate successful goal completion, realign with business goals, re-examine key initiatives, acknowledge and implement a plan for gaps, and provide valuable data for setting future KPIs.

What Should a Year-End Review Encompass?

As with other company activities, the year-end technology review reflects what you put into it. So don’t regard it as a meaningless exercise; instead, see it as an opportunity to get valuable information about your company. While results vary from firm to firm, there are certain aspects that all year-end reviews have in common.

1. Review the Current Technology Roadmap

Appraise the initiatives, tactics, and timelines of the current IT strategic plan to evaluate successful completion and future updates.

Reassess the technology of the organization, including:

  • Cybersecurity practices and policies
  • Technology infrastructure
  • Cloud storage and applications
  • Processes and data governance
  • Due diligence, compliance requirements, and risk management

2. Review Business Goals

The review process should also start with refreshing yourself with your company’s mission, vision, and values. Then, this is an opportunity to assess business functions and realign with these foundational pillars.

Of course, a review would not be complete without the inclusion of the business goals for the year you are looking back over. These business objectives can help you formulate a list of questions that can be answered through your review.

Review current business objectives, initiatives, and IT needs across the organization to determine IT initiatives. SWOT analysis can help identify gaps in IT needs across the organization. Key elements to include in the plan include proactive cybersecurity, compliance requirements, business drivers, expected growth, risk management, and identifying opportunities.

3. Assess Key Performance Indicators and Results

Determining success by reviewing metrics is key to establishing the effectiveness of any plan, and an IT roadmap is no exception. Beyond assessing whether goals were completed, there’s also plenty of insight to be gleaned from evaluating the objectives you did not reach. Undergoing this exercise is where the work of developing next year’s IT roadmap through identifying gaps and deficiencies, goals out of alignment, and new technology needs begins.

4. Putting IT All Together for Next Year

The outcome of this exercise is to use these findings from this strategic year-end IT planning process to set initiatives and develop strategic goals for your organization for the upcoming year.

Additionally, business leaders should look externally and evaluate business drivers and market forces, apply competitive research, and assess technology disruptors when determining upcoming IT priorities and business goals to include in next year’s plan.

Download our e-book Paving the Road to Success with Strategic IT Planning to learn more about how developing and implementing an IT roadmap can steer your firm towards success.

Download

Chris Messer, Chief Technology Officer at Coretelligent, HeadshotAbout Chris

As Chief Technology Officer at Coretelligent, Chris Messer is a transformational and strategic IT leader who establishes and leads Coretelligent’s technical vision and technological development. Click here to learn more about Chris.

by
Four Tools to Evaluate and Improve Your Cybersecurity Posture

4 Tools to Evaluate and Improve Your Cybersecurity Posture

 

Cybersecurity ResourcesCybersecurity Awareness Month is recognized every October. Now in its 19th year, this month is a collaborative effort between Cybersecurity and Infrastructure Security Agency (CISA) and the National Cyber Security Alliance (NCSA) to ensure that individuals, organizations, and businesses have the cybersecurity tips and resources they need to be safe and secure online.

Cybersecurity headlines often focus on breaches or attacks, but this month highlights available resources and strategies to maintain security all year long and avoid the headlines.

To do our part and help raise awareness, Coretelligent has put together a list of various digital resources to utilize to better evaluate, understand, and improve your cybersecurity posture.

What Cybersecurity Resources Can You Utilize Today?

  1. Cybersecurity Checklist

    To help you appraise your cybersecurity readiness, the experts at Coretelligent have created a Cybersecurity Evaluation Checklist. This checklist is a jumping-off point to help your enterprise determine its ability to mitigate the risk of cyberattacks before it is too late.

    This checklist can help you identify initial cybersecurity successes and opportunities for growth in your existing security measures to help you develop an IT roadmap that minimizes risk while supporting growth.

  1. Risk Mitigation Case Study

    This risk mitigation case study looks at Coretelligent’s partnership with client Courier Express to establish a comprehensive cybersecurity solution and can help you better understand partnering with an MSP.

    As one of the largest courier companies in the nation, Courier Express has round-the-clock operations that rely on a continuous flow of transactional data. Understanding that cyberattacks pose a significant threat to their operations, Courier Express works with Coretelligent to mitigate those threats.

    This study illustrates how an MSP partnership can help you defend against cyber threats, elevate your IT game, and free up your in-house staff to focus on growth and innovation.

  2. Best Practices for Safeguarding Against Critical Cyberthreats

    Looking for ways to increase your cybersecurity posture today but not sure where to start? Watch this video to learn ways to protect yourself and your organization from cyber threats.

    In 2021, ransomware attacks increased by 105%, and the current geopolitical situation has led to an even higher level of risk for businesses of all sizes and across all industries. This heightened cyber threat landscape requires robust security solutions to protect against cyberattacks, data breaches, malware, ransomware, and other critical cyber threats. Learn more about what steps you can take today and how to stay proactive into the future.

  3. Multilayered Cybersecurity with Defense-in-Depth Video

    Maybe you already have some cybersecurity solutions but want to build more robust protection. That’s where defense-in-depth comes in. It is a system of continuous and overlapping security layers that range from simple controls to complex security tools. These layers are designed to create an interlocking barrier that is continuously monitoring and protecting your assets. With multilayered security, if one layer of defense is breached, there are additional layers in place to mitigate any exposure. This model is designed to handle sophisticated cyber-attacks and delivers a more robust cybersecurity solution that is necessary for today’s volatile cyber landscape.

    In watching this video, you’ll learn more about the goal of defense-in-depth and how it benefits your company. Creating multiple barriers slows down attackers and sends out intrusion alerts before significant damage is done. Multilayered cybersecurity will also satisfy many compliance standards for industries like financial services and life sciences.

Build a Balance of Business and Security

Balancing business initiatives with security and technology can seem challenging, but Coretelligent can help. After reviewing these resources, we encourage you to contact our cybersecurity experts. Protect your business and learn more about our enhanced managed cybersecurity services designed specifically for small-to-mid-sized companies. Reduce your risk from security incidents – contact us today for help responding to your cybersecurity gaps.

Looking for more cybersecurity tips? Check out our list of 7 Security Tips for Practicing Good Cyber Hygiene.

by
Data Loss Prevention

The Importance of Data Loss Prevention

We are all aware of the anxiety losing something can cause. If you’ve ever misplaced your wallet, you are aware of the lasting impact it has. First, you have to get in touch with your bank, then request a new license, and then update all your existing accounts with the new information when it arrives. Even after handling the seemingly endless immediate effects of the loss, the fear of what happened to your personal information may last a while.

Now imagine if you were an organization that lost hundreds of thousands of records containing personally identifiable information (PII) or intellectual property (IP). In 2022 alone, several major companies such as Uber and Rockstar Games have been affected by data breaches that have compromised large quantities of their stored PII.

Numerous factors, including internal and external threats, system flaws, or even human conduct, can lead to data loss. Whatever the source, your company can take steps to stop data loss, shorten the duration of the incident, and lower the overall cost to your organization. The SEC’s Office of Compliance Inspections and Examinations (OCIE) notes data loss prevention as a critical area in their Cybersecurity and Resilience Observations report.

What is Data Loss Prevention?

Data loss prevention (DLP) involves having systems, tools, policies, and training to prevent data from being misused, lost, or accessed by unauthorized users. Preventing data loss is especially crucial for businesses that handle sensitive information like personally identifiable information (PII), intellectual property (IP), and personal health information (PHI). IBM’s 2021 Cost of a Data Breach Report found that PII was the most common type of record lost, included in 44% of breaches. PII is also most costly type of stolen record costing businesses up to $180 per record.

For those in highly regulated industries, like financial services and life sciences, data loss prevention is required. Data management and security are crucial elements in FDA Title 21, CFR Part 11, HIPAA, Sarbanes-Oxley Act (SOX), FINRA, and SEC rule 17a-4. Keep in mind that many of these regulations require preventative measures, specific actions, and documentation in the event of a data breach.

The Cost of Data Loss

Whether you experience a data breach from an inside user or permanent data loss from a malicious attack, there are long term consequences. Decreased productivity, loss of consumer and investor confidence, legal fees, and remediation expenses are only a few of the costs. For many organizations, it can take years to recover from the damage. Unfortunately, some businesses don’t survive these costs and are forced to close.

Even if you experience a breach, having a data loss prevention strategy can reduce the costs. The average cost of a breach is $4.24 million. Data loss prevention can reduce the overall cost of a breach by $136,992, according to IBM’s 2022 Cost of a Data Breach Report.

Developing a Strategy

To meet compliance standards and secure your data, your organization needs to have a comprehensive security plan that includes preventative and responsive actions.

Develop Comprehensive Policies

When we think about cybersecurity and data protection, we often think of technology. Although technology is a significant factor in security, policies set the tone for the organization and provide guidance on which technology solutions are needed. A lack of policies and procedures can undermine even the best technologies.

Create an Asset Inventory

You can’t protect your data if you don’t know where it is. Develop an asset inventory that lists all your data, where it lives, and how it’s currently being protected. Be sure to note your critical assets and systems that would affect your business operations.

Assess and Treat Vulnerabilities

To understand how your organization could experience data loss, you need to be aware of what vulnerabilities exist in your environment. Establish regular, comprehensive vulnerability assessments and penetration tests to stay on top of your current weaknesses.

Create and implement treatment plans for discovered vulnerabilities, e.g., patch management schedule, awareness training, and comprehensive policies.

Implement Access Control

Determine paths of ingress and egress for sensitive information. Determine who has access to sensitive data and implement the principle of least privilege to ensure that access is restricted to only those that should have it. Ensure access and usage are audited. Implement appropriate restrictions and logging at all points of egress.

Conduct Security Awareness Training

Since human error remains among the top causes of data breaches, it’s essential to conduct quarterly or semi-annual security awareness training. Users who have received training are better equipped to spot harmful emails and phishing schemes. It also teaches them what steps to take if they have received this type of communication.

Implement Perimeter and Endpoint Security

Remote work is here to stay, and as such, the perimeter of your network is no longer limited to the boundaries of your office or data center. You need to ensure that you have total visibility into all incoming and outgoing network traffic, including endpoints. Implement firewalls, endpoint protection platforms, and email security. These tools will give your IT team or MSP the visibility they need to detect and respond to threats straight away.

Having a dedicated security team to actively monitor your environment around the clock allows them to respond quickly to suspicious activities occurring on your network.

Properly Dispose of Legacy Systems

Remove software that is no longer receiving security patching from the vendor. Ensure that all sensitive data is removed when disposing of outdated software and hardware. Use disposal or recycling vendors that provide a certificate of destruction.

Create a Backup and Disaster Recovery Plan

Unfortunately, even with the best security measures in place, data loss is still a possibility. That’s why you need to have regular and tested backups along with a comprehensive disaster recovery plan. A plan will help your organization maintain business continuity and compliance while addressing a disaster or breach.

Staying Compliant and Protecting Your Data

Data loss can have a significant and irreversible impact on your business. Data loss prevention is an essential component of your overall security posture. To maintain compliance, your organization must secure and monitor your data continuously. As the threat of cyber-attacks continues to grow, it can be challenging to balance security, compliance, and day-to-day support. Coretelligent can help to strengthen your cybersecurity posture and protect your data. You can learn more about what we offer, including cloud-based solutions, backup and business continuity services, IT planning and strategy, compliance solutions, and more here.

by
Espionage Threat

Heads of Top Security Agencies Issue Warning on Threat of Chinese Espionage

The heads of the FBI and MI5, Britain’s domestic security service, have warned business executives about threats posed by Chinese digital espionage, the goal of which is often to steal Western companies’ intellectual property.

During the joint appearance on July 6, 2022, Christopher Wray, director of the Federal Bureau of Investigation (FBI), and Ken McCallum, director-general of MI5, reiterated a need for digital caution and ongoing vigilance because of the scale of Beijing’s operation.

“The Chinese government is set on stealing your technology—whatever it is that makes your industry tick—and using it to undercut your business and dominate your market,” Mr. Wray told the audience in attendance. “They’re set on using every tool at their disposal to do it.”

China is engaged in “a coordinated campaign on a grand scale” that represents “a strategic contest across decades,” Mr. McCallum emphasized. “We need to act.”

The Chinese government utilizes state-sponsored hacking to exploit known cybersecurity vulnerabilities in order to establish a more extensive web of compromised infrastructure. Over the last few years, it has exploited several high-severity vulnerabilities that have given these attackers the opportunity to gain entry to many vulnerable devices.

Once the attackers have access to these devices, they assess the critical users and seek to gain further credentials. Utilizing these and other methods, these attackers are continually evolving and adapting their practices to bypass existing defenses, so maintaining a proactive and defensive cybersecurity posture for your business is imperative.

CISA Recommended Best Practices

The US Cybersecurity & Infrastructure Security Agency (CISA) is recommending a variety of best practice actions for combating this threat, including, but not limited to:

  • Applying patches as soon as possible
  • Disabling unnecessary ports and protocols
  • Replacing end-of-life infrastructure
  • Implementing a centralized patch management system

Additional recommendations from Coretelligent’s security experts include:

Remain vigilant

  • Implement multifactor authentication
  • Think before you click a link or open an email attachment.
  • Be wary of new social media requests.
  • Limit the attack surface on all Internet-facing infrastructure

Ensure readiness to respond to a cyber incident

  • Review policies and procedures around incident response.

How to Protect Your Organization?

If you are concerned that your organization’s current cybersecurity posture is not robust enough to sufficiently handle the growing threat, reach out to learn more about Coretelligent’s multi-layered cybersecurity solutions.

by
Cybersecurity for Broker-Dealer Firms

Cybersecurity Threats Faced by Broker-Dealer FINRA Firms

Cybersecurity for Broker-Dealer FirmsAs a broker-dealer firm executive, you know that one of FINRA’s key mandates is to help prevent cyberattacks against its regulated firms. The Financial Industry Regulatory Authority, or FINRA, is, of course, a not-for-profit regulatory organization authorized by Congress to protect investors and ensure market integrity in the United States. This post will explore some of the most common cybersecurity threats faced by FINRA firms.

What are the Most Common Cybersecurity Threats for Broker-Dealer Firms?

Now more than ever, broker-dealer firms rely on their technology infrastructure the cyber landscape presents a regular number of security challenges requiring robust preparedness for brokerages and other financial services firms.

1. Imposter Websites

According to FINRA, member firms routinely report phony websites posing as FINRA members and using registered names and company data to establish fraudulent sites that market investment services and products. These sites attempt to steal both personal information and money by leading visitors to believe they are interacting with a bona fide business.

2. Customer And Firm Employee Account Takeovers (ATOs)

Email account takeovers can occur with both customer or firm personnel accounts and begin with a comprised email account. Cybercriminals can gain unauthorized access to email accounts through data breaches, phishing emails, or websites that trick users into clicking on malicious links allowing them to execute unauthorized transactions in financial accounts, firm systems, bank accounts, and credit cards.

One of the dangers of an ATO for an employee account includes criminals creating fake identities to establish accounts for automated clearing house (ACH) or wire fraud.

3. Malware and Ransomware

Malware is malicious software and can take many forms, including viruses, spyware, and ransomware. These malevolent programs can steal data, encrypt it, delete it, and even hold it for ransom by infiltrating and taking over computing operations. Phishing is one of the most common ways that malware is introduced. Ransomware is a type of malware that, when launched, can encrypt data and prevent access to networks until a ransom is paid to the attacker.

4. Data Breaches

A data breach is a security incident in which hackers gain unauthorized access to confidential data like financial records or personally identifiable information (PII). Data breaches can lead to financial losses, reputational damage, lawsuits, and fines and penalties.

What Can FINRA Firms do to Prepare?

Core Cybersecurity for Broker-Dealer FirmsEarlier this year, FINRA, along with the SEC, Homeland Security, and other agencies, alerted members to the increased likelihood of cyber attacks as part of the invasion of Ukraine with a Sheilds Up warning.

In a recent op-ed, written by Jen Easterly, the director of CISA, and Chris Inglis, the national cyber director, the pair consider when the Sheilds Up warning might be lifted:

“When will we be able to put our shields down? In today’s complex, dynamic, and dangerous cyberthreat environment, the answer is that our shields will likely be up for the foreseeable future.

For broker-dealer firms, this means continuing to follow the guidance provided by FINRA as well as cybersecurity professionals with experience within the financial services sector. There are cybersecurity controls that can mitigate the risk of cyber attacks.

To learn more, download our Guide to Effective Cybersecurity Controls for Broker-Dealer Firms.

Additionally, our Cybersecurity Threats and Effective Controls for FINRA Firms Infographic provides a quick overview of the threats faced by FINRA firms, as well as the controls to implement to reduce the risks from those threats.

Combining Cybersecurity Controls and Expertise

Balancing business initiatives with security and technology can seem challenging, particularly for broker-dealer firms without an internal team of cybersecurity experts, but Coretelligent can help. We offer our expertise and robust cybersecurity solutions to solve the challenges of the highly regulated financial services industry. In addition, we have years of experience working with broker-dealer firms and other firms like hedge funds, venture capital, and family offices. As a result, we understand the pain points these firms face in the digital world and have the solutions—from compliance and cybersecurity to growth and business transformation—to solve them.

by
Life Sciences Industry Innovation is Where Business & Technology Intersect

IT Roadmap for Life Sciences Industry from Startup to IPO

Life Sciences Industry Innovation is Where Business & Technology IntersectThe life sciences industry is experiencing a period of rapid growth. Not only does the sector produce life-saving and life-enhancing treatments, but it is fueling investment across the globe. For example, 78 startups went public in 2020 in the biotech sphere, representing a 77% increase from the previous year. Additionally, the first half of 2021 saw already seen 62 biopharma companies progress to IPO status. With the increased demand for innovative drugs, medical devices, and other therapies in the wake of the ongoing COVID-19 pandemic and vaccine development, various trends within the industry (like changes to clinical trials), and increased levels of investment, 2022 is shaping up to be a big year for the sector.

Innovation is the driver of the current expansion within the life sciences market. However, the key to maximizing this ROI, or Return on Innovation, requires that business and technology synchronize. This imperative calls for a carefully planned IT roadmap that enables companies to achieve a competitive advantage and improve business outcomes throughout the development, startup, growth, and expansion stages.

To help executives better understand the timeline, Coretelligent has developed a chart outlining the technology and business needs of the life sciences ecosystem throughout their life cycle. Download our datasheet Innovation is Where Business & Technology Intersect outlining how to plan your company’s IT strategy as you move through funding phases.

To dive deeper, download our data sheet → Innovation is Where Business & Technology Intersect.

In an earlier post, we shared some of the IT challenges faced by early-stage life sciences organizations. With this post, let’s take a deeper look at later-stage companies and what their IT strategy should be focused on as they scale.

What are the main IT priorities of life science firms as they move into their growth and expansion stages?

 

→ Employ technology for data management

As biotech, biopharma, and other life science enterprises grow, managing data increases in scale and complexity. As a result, cloud-based solutions and SaaS applications must align to ensure that enterprise data is available, usable, consistent, reliable, and secure. Employing the right technology solutions, including cloud-based services, backup and recovery, and others that store, manage, and protect data are critical at this stage.

→ Leverage technology to drive innovation

Not only has innovation come to the life sciences space, but it’s also bringing emerging technological trends with it. Advances in Artificial Intelligence (AI), Robotic Process Automation (RBA), Machine Learning (ML), Cloud/Big Data, and other developing technologies are evolving as disrupters to the sector. Successful life science companies will envision how to capitalize on these tools.

→ Optimize technology to grow operations

Even as innovative technology trends shift the landscape, IT becomes more integral to the core business operations as companies scale. While some may be using a managed IT model, most companies likely employ co-managed solutions during the later stages. A co-managed service provider empowers internal IT staff to drive technology delivery at scale and focus on strategic priorities. A technology partner can lighten the load by fulfilling tech support, plug critical skill gaps, and complement in-house capabilities with specialized technology services.

→ Utilize technology to ensure security and compliance

As a life science firm grows, compliance requirements increase in size and scope. At the same time, these companies have become more attractive targets for cybercriminals. As a result, life science firms must prioritize implementing robust cybersecurity tools and compliance processes to keep pace with evolving regulations while protecting sensitive data from bad actors.

Related Content → GxP and FDA 21 CFR Part 11 Compliance with Egnyte for Life Sciences.

Developing IT Growth Strategy for the Life Sciences Industry

The life sciences industry is booming, and the future looks even brighter. But the key to success involves more than just innovation—effective growth also depends on how well your life sciences company can leverage IT capabilities throughout your life cycle. In building out an effective IT strategy for startups, begin by understanding where your organization stands today, followed by preparing for those IT areas that will require digital transformation. Furthermore, leveraging new technologies like AI, RPA, ML, and Big Data, can help accelerate your progress and open up new opportunities in the journey towards achieving your goals.

To sum up, you need to understand what’s possible before embarking on any journey. By taking stock of current practices, planning ahead, prioritizing initiatives based on pain points, incorporating new technologies, and teaming up with a technology partner, you’ll be well-positioned to meet future growth. Coretelligent is an industry leader with extensive experience in the life sciences sector. To learn more about how Coretelligent can help your company successfully scale so that growth doesn’t stifle innovation, talk to one of our technology experts today.

by
What is the CIA Triad?

What is the CIA Triad? Definition & Examples in Cybersecurity

CIA Triad

What is the CIA Triad?

The CIA Triad is a fundamental cybersecurity model that acts as a foundation in the development of security policies designed to protect data. The three letters in CIA Triad stand for Confidentiality, Integrity, and Availability.

In theory, the CIA Triad combines three distinct means of interacting with data to create a model for data security. First, the principle of confidentiality requires that only authorized users have access to data within a system.

The second tenet of integrity imparts the necessity of the trustworthiness and veracity of data. The final component of availability dictates that data must be accessible where and when users need it. The intersection of these three concepts is a guiding framework for protecting digital information.

What Are the Origins of the Triad?

As much as the name implies, the CIA Triad is not related to the Central Intelligence Agency; although, their cyber security program almost assuredly utilizes the model.

The individual principles have existed since even before computer data became a reality in the mid-twentieth century. And they were independently utilized in data security since then, but it is not known when the tenets were first thought of as a triad.

The term is mentioned in the 1998 book Fighting Computer Crime, and it appeared to be the standard among security practices at that time. No matter when the idea of the Triad was first conceptualized, the principles have long been in use by security professionals who understood the need to make information more secure.

Where Does the CIA Triad Fit into Cybersecurity?

Effective protection of digital assets begins with the principles of the CIA Triad. All three tenets are necessary for data protection, and a security incident for one can cause issues for another. Although confidentiality and integrity are often seen as at odds in cybersecurity (i.e., encryption can compromise integrity), they should be balanced against risks when designing a security plan.

The CIA Triad forces system designers and security experts to consider all three principles when developing a security program to protect against modern data loss from cyber threats, human error, natural disasters, and other potential threats. It is a springboard for conceptualizing how information should be protected and for determining the best way to implement that protection within a given environment.

Related Content →  The Future of Analytics is in Data Governance: Are You Prepared?

A Deeper Look at the Three Pillars in Action

Remember that the CIA Triad is made up of the core tenets: confidentiality, integrity, and availability. CIA Triad

  1. Confidentiality refers to protecting information such that only those with authorized access will have it.
  2. Integrity relates to the veracity and reliability of data. Data must be authentic, and any attempts to alter it must be detectable.
  3. Availability is a crucial component because data is only useful if it is accessible. Availability ensures that data can be accessed when needed and will continue to function when required.

That’s the theory behind the Triad. Now, we will take a look at how Triad is put into action cyber security strategy with some real-life examples.

→ Putting Confidentiality into Practice:

  1. Data encryption is one way to ensure confidentiality and that unauthorized users cannot retrieve data for which they do not have access.
  2. Access control is also an integral part of maintaining confidentiality by managing which users have permissions for accessing data.
  3. Life science organizations that utilize patient data must maintain confidentiality or violate HIPAA.

→ Putting Integrity into Practice: 

  1. Event log management within a Security Incident and Event Management system is crucial for practicing data integrity.
  2. Implementing version control and audit trails into your IT program will allow your organization to guarantee that its data is accurate and authentic.
  3. Integrity is an essential component for organizations with compliance requirements. For example, a condition of the SEC compliance requirements for financial services organizations requires providing accurate and complete information to federal regulators.

→ Putting Availability into Practice:

  1. Employing a backup system and a disaster recovery plan is essential for maintaining data availability should a disaster, cyber-attack, or another threat disrupt operations.
  2. Utilizing cloud solutions for data storage is one way in which an organization can increase the availability of data for its users.
  3. As the reliance on data analytics expands, the need for data to be available and accessible grows for sectors like financial services and life sciences.

Is the CIA Triad Limited as a Cyber Security Strategy?

As the amount of data explodes and as the complexity of securing that data has deepened, the CIA Triad may seem to be an oversimplification of the reality of modern-day cyber security strategy. However, it is critical to remember that the Triad is not actually a strategy; but instead, it is a starting place from which a security team can create a strategy.

It is a foundational concept on which to build a full-scale, robust cyber security strategy. It cannot eliminate risk, but it can help prioritize systemic risks to address them better. Additionally, the CIA Triad cannot prevent all forms of compromise, but it helps reduce the likelihood of unnecessary exposure and can help decrease the impact of a cyber attack.

Related Content → Is Your Security Posture Negligent? Not with Multi-layered Cybersecurity.

Why the CIA Security Triad is Essential

The Triad is essential because it is a reliable and balanced way to assess data security. It weighs the relationship between confidentiality, integrity, and availability from an overarching perspective. The framework requires that any attempt to secure digital information will not weaken another pillar of defense.

Additionally, the CIA Triad effectively identifies risk factors in IT systems. It is also a gateway for even more advanced risk assessment and management tools, such as the Common Vulnerabilities and Exposures (CVE) list and the National Vulnerability Database.

How Does Coretelligent Utilize the CIA Triad?

Coretelligent incorporates the core tenets of the CIA triad into our cybersecurity, managed IT services, cloud solutions, and more. In addition, we practice defense in depth strategy, which is a system of overlapping layers of protection that range from easy-to-implement controls to complex security measures.

These layers are designed to create an interlocking barrier, not unlike the security system at your home.

We guide our clients on how best to balance making their data secure, available, and reliable. To learn more about our solutions, reach out for a consultation with our team.

Related Content →  Evaluate your security readiness with our  Cybersecurity Checklist.

by
Proactive cybersecurity support

Proactive Cybersecurity Support Can Reduce Risk and Improve Operations for Your Business

Proactive cybersecurity solutionsImproving the operation of your business often starts with consolidation: creating a more cohesive structure that eliminates redundancy and slashes inefficiencies throughout the organization. Business leaders have been focused in this direction for generations, often looking for the smallest advantages that will allow them to outpace the competition. With the renewed focus on cybersecurity, it’s not unusual for businesses to focus more on protecting the security of their organization than attempting to improve operational excellence. What you may not realize is that some of the same initiatives that will help smooth operational hurdles can also provide added levels of cybersecurity. What can be difficult is finding the spaces where you can bring these goals into alignment and create a comprehensive strategy that addresses the holistic needs of the organization and provide proactive cybersecurity support.

Shifting Cybersecurity From a Defensive Strategy

As hackers continue to expand their reach throughout the business community, technology leaders often double-down on the defensive postures that can help guard against the immediate threats of ransomware, phishing emails and direct data breaches. While these are important steps, it’s also important that you create a more active role for cybersecurity within the organization. Consider the cybersecurity and data security compliance requirements as enablers of innovation that will help the business move forward, instead of restrictive policies that are being forced upon the organization. This mental shift offers a broader scope that can become a platform for evolutionary change within the business.

Proactive Cybersecurity Support as a Competitive Advantage

The same work that you’re doing to build your cybersecurity posture and disaster recovery strategies provides your business with an opportunity to review business processes that have been part of institutional knowledge for years and challenge the status quo. Businesses often find that there are high-level items that can quickly be resolved, as well as finding deeper growth options that will reduce work blockages and help you maintain a greater velocity for your business. Business leaders may find that situations that have been causing inefficiencies can be overcome if the changes are in alignment with best practices for cybersecurity and business continuity. In this way, focusing on cybersecurity actually becomes a competitive advantage for your business, tightening operations and removing inconsistencies. While it is easy to see how these strategies could enhance the operations of the organization, getting started or even scoping the breadth of the necessary changes can be overwhelming. This is one of the reasons that businesses are shifting to a co-managed IT services model that allows internal teams to focus on the future while the day-to-day operations and Help Desk support are managed through a network of trusted providers.

Protect your business from operational slowdowns when you explore the Co-Managed IT Services from Coretelligent. This approach allows us to empower your internal technology teams to drive innovation at scale while relying on Coretelligent to provide the best-in-class cybersecurity and infrastructure solutions that your business needs. Our team has expertise providing trusted technical support, in-depth strategies, planning and more to a range of businesses from life sciences and financial services to manufacturers.

by
Outsourced IT

5 Ways Outsourced IT Solutions Can Boost Revenue and Productivity

Outsourced IT SolutionsEven with all of the available technology solutions, one of the biggest challenges you will continue to hear from technical teams is lack of time. Everything from upgrading current platforms to researching new solutions requires dedicated focus, and the ability to shut out all by-the-minute frustrations and do the work required to move your organization into the future. It’s not surprising to find that many business professionals feel as though they are being shut down by IT teams and attempt to “go rogue” — something that would be less likely to happen if IT teams are able to meet their needs more quickly. Outsourced IT solutions is a cost-effective and practical way to solve these challenges.

As the cost of cybercrime around the world rises into the trillions and companies look to IT for differentiation, it’s clear that something in the traditional business model that includes standalone internal IT teams simply must change. Working with a trusted and reliable outsourced IT provider offers a way for internal teams to retain control of their solutions while offering ways to expand the reach of technology to support new and unique business models.

  1. Help Team Members Focus on What Matters the Most

Time and resources are always a constraint for businesses, so how do you choose where to focus your efforts and attention? Technology is ever-changing, and it can be extremely difficult for small teams to find the time to keep new projects moving forward and support a complex IT infrastructure. When you work with an outsourced IT services provider, your internal teams suddenly gain hours each day — time that isn’t spent tracking down passwords, freeing up storage solutions, administering software and more. This helps boost the focus for your over-leveraged technical teams, allowing productivity to skyrocket on these critical innovations your business requires.

  1. Gain Access to Enterprise-Scale Solutions

It’s easy to envy enterprises with their near-unlimited resources, extensive IT budgets and expansive technology teams. Fortunately, IT managed services providers are able to provide you many of the same resources used by these larger companies without the upfront investment or ongoing costs that are usually required. Since an outsourced IT company works with many different clients, they can often afford to provide you with enterprise-scale solutions for network infrastructure, VoIP calls, data storage and cybersecurity. Plus, you’re not tasking internal teams with learning yet another software platform — instead, you are relying on a trusted partner to administer these solutions using ever-changing industry best practices.

  1. Enhance Your Cybersecurity Profile

Government technology leaders agree: cybersecurity is on the rise and your company has never been at greater risk. Companies of all sizes are vulnerable to these rising attacks, 2021 saw a year over year 17% increase in reported attacks . Without a robust and multi-layered approach to security, you are putting your company in a dangerous situation. Remediation after an attack is extremely costly, with companies citing losses of millions of dollars per data breach for remediation, customer notifications, lost revenue and more. Having access to the enterprise-scale tools and information you need to maintain business operations is a mission-critical endeavor for organizations — particularly those in the life sciences, financial services or other high-touch, fast-moving businesses.

  1. Empower Business Teams with Rapid Problem Resolution

When your business teams are confident that their problems can be quickly resolved, they are able to reduce their stress levels and the time spent on stressing over any technical issues. Having the least amount of uncertainty in your business processes can cause teams to fall into a low period in terms of activity, particularly in complex projects with many moving parts. Outsourcing your IT help desk support provides the peace of mind your teams need to know that any reported problems can be quickly resolved — allowing teams to maintain their forward momentum on important projects.

  1. Improve Your Customer Experience

Are your customers citing issues such as slow response times to customer service inquiries, the latency on your websites or other problems that can be tied back to your network operations or data storage solutions? Having a single point of contact for your IT infrastructure and help desk solutions helps aggregate these issues and allow them to bubble up for quick remediation. Your customers will appreciate the ability to rapidly access their information and your services, and reward your company with additional revenue and improved reviews. Customers are unwilling to wait for information or service answers for more than a few minutes. Don’t frustrate your clients and your staff with slow-moving networks that don’t offer the optimal experience.

Pulling together all of the various aspects of your IT solutions often requires working with several different service providers, but that’s not the case when you partner with Coretelligent. Our deep experience in a wide range of industries allows us to leverage cross-functional knowledge to provide the smooth and exceptional IT support that your company deserves.

by