Therefore, it’s crucial for organizations to prioritize cybersecurity and take proactive measures to prevent and mitigate potential cyber attacks.
Corpradar recently had a discussion with a Senior Security Engineer, Mr. Prateek Lotia at Reddit to gain insights into the various cybersecurity issues that both large and small corporations should be aware of.
During the conversation, Prateek provided valuable information and advice that could be useful for companies seeking to improve their cybersecurity posture and protect themselves from potential threats.
From insights on building a bulletproof product architecture for community platforms, emphasizing the importance of security design from the outset.
Prateek brings up a great point regarding the challenge of user-generated content in community platforms. Since these platforms rely on user-generated content, it’s essential to enforce strict input sanitization checks to prevent various types of injection attacks and ensure the app doesn’t crash or leak any sensitive information. Additionally, since user data is often rendered on the client side of other users, it’s crucial to implement output sanitization to ensure other users aren’t impacted by one user’s activity. For instance, platforms must enforce strict access controls to private account content and ensure that only authorized users can view it.
Overall, he highlights the importance of developing robust security measures that can effectively handle the unique challenges presented by community platforms. By implementing comprehensive security protocols, companies can ensure that their platforms remain secure and trustworthy, even in the face of potential cyber threats.
He also addressed the critical issue of fake information, discussing the rising threat of disinformation campaigns and the need for organizations to be vigilant against them
Blockchain technology can provide a solution to the challenges of disinformation by creating a decentralized and immutable ledger of records that tracks the source and distribution of information, assigns a trust score to content creators, and incentivizes the creation and distribution of true news. However, it is important to note that technology alone cannot solve this problem and strong legal provisions are necessary to hold sources accountable for their misinformation.
Additionally, Prateek discussed the benefits of cyber insurance and the role it can play in mitigating the impact of a cyber attack. Overall, his insights and recommendations were highly valuable for organizations looking to enhance their cybersecurity posture and protect themselves against potential threats.
Cyber insurance is a booming industry that can help organizations mitigate the risk of cyberattacks. There are several categories of cyber insurance, including liability, property, business interruption, and coverage. When developing models for cyber insurance, companies should keep in mind important pointers such as preserving all types of logs and metrics, evaluating the coverage included in the insurance, adding additional considerations for coverage gaps, and conducting a risk assessment. It is critical to have coverage for errors due to vendors, loss of data, ransomware, data breach, consequences of legal actions from users, and social engineering attacks. Companies need to understand policy coverage properly and have the right set of digital forensics along with disaster recovery and backup processes to ensure a secure and stable cyber insurance in the long run.
We asked him about the digital industry and cryptocurrency which are vulnerable to cyber attacks, resulting in significant financial losses. Therefore, security should be a top priority during large-scale architecture planning.
Financial organizations need to ensure a stronger security layer for their digital assets due to the increasing frequency and unpredictability of cyber attacks. To this, He answered The implementation of new technology, including blockchain, involves trial and error, and there will always be a cat-and-mouse game between threat actors and security experts. Security vulnerabilities in third-party software libraries and cryptographic protocols are a common issue. To prevent cyber attacks, it is essential to test code regularly, avoid sensitive data being logged directly to the blockchain, use up-to-date protocols and cryptographic libraries, and reduce dependency on external untrusted contracts. It is also important to assume the worst-case scenario and prepare for possible attacks, such as targeted or denial of service attacks, and have checks in place to limit the damage caused by anomalies.
Finally, Prateek shared his thoughts on Web3 and its potential impact on cybersecurity, highlighting the need for companies to stay up to date with emerging technologies and associated security risks in the manufacturing sector.
There is no 100% secure system in the cyber security world, and the goal of cyber security teams is to make it difficult and not worth the effort for threat actors. It is necessary to enforce the least privileged methodology for systems and to enforce a zero-trust architecture where each part of the system has to prove its identity and privilege using the right set of authentication and authorization. Automation is critical to conducting sufficient quality checks before deploying changes or upgrades to the system. To protect manufacturing systems, it is important to limit physical and logical access, continuously update all parts of the software stack, invest in quality hardware, use multi-factor authentication, and conduct third-party audits. Redundancy and failure plans are necessary, and continuous human training is critical as social engineering is still prevalent, and employees are the weakest link.
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