Video: Managing the Risks of the Internet of Things

Device location and user behavior can shed a lot more light on a login attempt, yet not all MFA solutions currently incorporate them, says McGladrey. If organizations switched to better access management systems, the cost to successfully infiltrate accounts would rise exponentially, barring “all but the best-funded nation-state actors and APTs.”

My prediction for 2024: In response to increasing regulatory burdens and the risk of civil litigation, successful companies in 2024 will lean into enhancements in their compliance operations. They will actively collect and test evidence of security control effectiveness, linking these controls directly to their risks, across all critical assets or systems. This approach ensures companies are confident in accurately describing how well they manage their risk portfolio, including in SEC filings. The automation of compliance operations enables security and audit professionals to spend more time doing the parts of their jobs that they love. Furthermore, as supply chain risks intensify scrutiny of B2B transactions, companies will efficiently repurpose many of their controls and control evidence. This strategy not only allows companies to secure additional attestations or certifications such as ISO or SOC 2 without increasing their workforce, but it also provides a significant competitive business advantage.

Kayne McGladrey, field CISO at Hyperproof, has seen the evidence. He worked with one organization whose executives received a contract for review and signature. “Nearly everything looked right,” McGladrey says. The only noticeable mistake was a minor error in the company’s name, which the chief counsel caught. But Gen AI isn’t just boosting the hackers’ speed and sophistication, it’s also expanding their reach, McGladrey says. Hackers can now use gen AI to create phishing campaigns with believable text in nearly any language, including those that have seen fewer attack attempts to date because the language is hard to learn or rarely spoken by non-native speakers.

“[AI] allows a threat actor to scale a lot faster and across multiple channels,” Kayne McGladrey, chief information security officer at compliance management company Hyperproof, told Built In. “And the defensive tools haven’t quite caught up. Unfortunately, none of this stuff is going away. This has now become a fixture of the landscape. It’s part of our new, modern cybersecurity hellscape that we inhabit continuously.”

In this live episode of the Virtual CISO Happy Hour, our cybersecurity experts discuss the critical steps companies must take to navigate the complex landscape of data privacy. They discuss the importance of establishing regular data inventories and minimization efforts to ensure that only business-critical information is retained, thereby reducing the attack surface for threat actors.

The conversation shifts to the pitfalls of treating privacy audits as one-off events rather than ongoing processes. Our experts argue for the automation of data control operations and the continuous evaluation of their effectiveness, which is crucial for maintaining compliance and achieving certifications like ISO or SOC 2.

The episode also tackles the misconception of ‘cyber risk,’ advocating for a broader understanding of business risk and its real-world consequences. The discussion highlights the importance of aligning cybersecurity strategies with business KPIs and KRIs to effectively communicate the value of security measures to executives and boards.

Furthermore, they explore the role of CISOs in control design and effectiveness, emphasizing collaboration with CFOs to leverage their experience with regulatory compliance for more nuanced and effective control strategies. They also touch upon the significant cost savings that can be realized by reevaluating and updating corporate risk registers in response to changes in data storage and access patterns.

This episode is a must-listen for any professional involved in data privacy and cybersecurity, offering practical insights into making informed decisions that align with both security and business objectives.

When it comes to modern technology, everything is a compromise between convenience and security. Everyone wants fast access to the internet, which is why Wi-Fi is everywhere. But how secure is your home Wi-Fi router? What can you do to protect your network? Something you rarely hear these days is that as long as you follow a few common-sense and easily implemented best practices, you probably have very little to worry about.