Cyber Security, From Average Jo to Pro!

The basics.

• A firewall
(A Firewall is a network security device that monitors and filters incoming and outgoing network traffic based on an organization’s previously established security policies. At its most basic, a firewall is essentially the barrier that sits between a private internal network and the public Internet.)

• Antivirus software
(Antivirus software is a program or set of programs that are designed to prevent, search for, detect, and remove software viruses, and other malicious software like worms, trojans, adware, and more.)

Well most modern devices have firewall and virus protection already programed on them, we still need to check and update the device regularly to ensure that you receive the latest software.

Intermediate level security.

To ensure a higher level of protection in addition to the elements of basic cyber protection – firewalls and antivirus – the following components should be applied.

This should be the minimal level of security that any business infrastructure or home office for any freelance work or Selfemployed person.

• Email security implying a variety of techniques (scanning emails for malware, filtering spam, etc.) to keep personal information secure both in the ‘internal’ and ‘external’ email communication from any cyberattack using email as an entry point via (spyware, adware, phishing attacks. Ect).

• Network segmentation, e.g., segmenting the network by departments with the segments connected via firewalls that do not allow malicious code or other threats to travel from one network segment to another. What’s more, network segmentation implies separating the network assets storing a company’s data from the outside-facing segments (web servers, proxy servers), thus reducing the risk of data loss, adding more resistance to ransomware attacks.

• Intrusion detection (IDS) and intrusion prevention system (IPS) used to identify and log information about possible security incidents, block them before they spread across network environments, also informing your cyber security team of any unusual activity.

• A VPN
A virtual private network extends a private network across a public network and enables users to send and receive data across shared or public networks as if their computing devices were directly connected to the private network.

High level security.

Midsized companies and large enterprises operating in regulated industries, e.g., banking or healthcare, or government agencies usually become the victims of targeted attacks. This happens because the larger an organization is and the more data it has to protect (regulated personal data, patients’ healthcare records, bank accounts information, etc.)
So companies of this level require additional measures of cyber security in place.

• Endpoint security. This security method implies protecting access by each device (a smartphone, a laptop, etc.) reaching the corporate network and thus becoming a potential entry point for security threats. Usually, endpoint security includes the installation of special security software on a management server within the corporate network, together with the installation of client software on each device. The combination of these measures allows to monitor the activities users carry out when accessing the corporate network remotely from their smartphones, tablets, and other devices. Therefore, the company gets better real-time visibility over the entire range of potential security threats they might have to deal with.

• Blockchain security and keeping your cryptocurrency wallet secure.

What is blockchain security?

Blockchain is a distributed ledger network that enables decentralization of data which ensures the data can not be tampered with unless there is a 51% attack which is no longer possible due to how decentralized the networks are as of writing this blog in 2022.

 

Cryptocurrencies

Cryptocurrencies are gaining traction in the digital world, with the efficiencies of decentralization and transaction security.

Using peer-to-peer direct transfers instead of central banking reduces the processing fees and expedites fund transfer in seconds and minutes instead of hours to days as it does with the banking legacy system.

Organizations handling cryptocurrency must ensure they are taking precautions to secure transactions and remain compliant with the host country’s regulations.

Let’s consider several key (pun intended) areas when securing all information systems that store, accept, or transact with cryptocurrencies such as Bitcoin, Litecoin, and Ethereum etc.

Key/Seed Generation for New wallets and receive addresses.

Blockchains require cryptographic keys and or seeds for new wallet creation, receiving addresses, and receiving addresses.

In examining an organization’s security measures, pay close attention to confidentiality and limited access to wallet’s main access keys/ seeds.

Confidentiality ensures that newly created keys or seeds are not obtained by an unintended party.

Wallet/Key Usage

Maintaining wallet integrity is critical.

Risks such as lost or stolen keys and unintentional disclosure of the wallet holder’s identity can be avoided with best practices such as:

• Generating unique addresses for every transaction

• Requiring a minimum of 2 signatures in order to spend funds from the wallet
Multi-factor identification for login.

• Using keys/seeds only in trusted environments, never uploading them to platforms and other network pages without knowing the level of trust of the site, and never connecting wallets to sites as a means of site id and log in at this time.

• Assigning redundant keys only to vetted parties for recovery purposes