The increase in ever-more complex data breaches and ransomware attacks is seeing the CISO bring the subject of the cybersecurity to the boardroom. It’s a proactive stance to provide adequate defences, rather a reactive move to counter a detected breach.

However, this all comes at a cost, and with The Economist suggesting that a global recession in 2023 is inevitable, justifying any big investments is going to be even harder.

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Fighting modern adversaries requires having a modern security operations center (SOC), especially as organizations move to the cloud. To protect their estates against tomorrow’s threats, security professionals have often turned to more data sources and adding more security monitoring tools in their operations, both in the pursuit of maximizing their attack surface visibility and reducing time to detect and respond to threats.

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We’ve seen major shifts in the digital landscape that have far reaching implications on organizations around the world. These include the widespread adoption of hybrid work, the accelerated migration from on-premise to cloud resources, and the exponential increase of data in the cloud.

While organizations gain many benefits from leveraging new cloud technologies, there are several challenges that arise with new ways of doing business, including the increasing complexity of an ever-expanding attack surface, the rising number of attacks targeting web and cloud apps, and protecting users, devices, and data regardless of where they reside.

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Those of you that are frequent readers of our blogs will know that we often talk about what a prime target financial services are for cyber crime.  According to Forbes, cyberattacks cost financial institutions more to address than in any other industries.

In this blog we are going to look at why financial services need micro-segmentation.

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Retail is a sector that was quick to react to the pandemic; launching online stores if the retailer did not already have one, or expanding what they were offering online if they already had a store.  This included the addition of features such as curbside pick-up.  It is estimated the pandemic accelerated the shift to online retail by 5 years.

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Software as a Service (SaaS) continues to grow at a rapid pace as businesses look to take advantage of the flexibility and economy offered by the cloud. According to Gartner’s forecast of Worldwide Public Cloud Revenue, spending on cloud application services is projected to increase to more than $151 billion by 2022.

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The popularity and usage of Microsoft 365 had gradually grown over the last few years, but recently this has increased significantly with the explosion in home working as a result of the pandemic.  This has led many organizations to now consider MS 365 a business-critical application.  As happens to many applications, a rise in usage leads to an increase in interest from threat actors, looking to benefit from any vulnerabilities.

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Traditional Perimeter Methods Are Not Enough

For organisations with perimeter-based security, a breach gives malicious actors access to your entire network, enabling them to move laterally to wherever they want as soon as they breach defences.  This security model sees all applications and data equally and therefore security and access is the same for everything. 

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