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Security Roundup: Bug Bounty Programs, Security Underspending, Opaq, Fortanix-Equinix

Cybersecurity

… working with hackers to fight cybercrime is a good thing, Bacchus said.

“If you don’t have a way of receiving bugs, it can almost be seen as a negative, that you’re not willing to accept bugs from the community,” he said. “All sorts of organizations are pursuing this as a way to improve security.”

Small Businesses Spending Too Much on Cybersecurity

A joint analysis of IT security spending by cybersecurity firm Akouto and Alpha Logics shows businesses that failed to adequately invest in cybersecurity end up spending on average 58 percent more compared to similar companies with adequate security measures in place. That number quickly skyrocketed when factoring in knock-on costs such as lost wages and revenue as a result of unplanned downtime, according to the companies.

The study analyzed spending patterns of existing clients to examine cybersecurity expenditures for SMBs that underinvest compared to their peers.

Breaches involving credit-card numbers can be among the costliest, with businesses forced to pay significant amounts for forensic examinations, credit monitoring services, customer notification services and legal fees among other costs, according to the analysis.

Dominic Chorafakis, Akouto’s founder, tells us key findings in the study highlight the opportunity for channel partners to help customers protect their business and save money.

“The first is that the longer it takes to detect a breach, the more costly it is for a business to recover,” he said. “That’s because more systems are typically affected, translating into higher costs to repair and restore IT infrastructure. The knock-on costs are also much higher as a result of the longer downtime and lost productivity while systems are being restored. These results suggest that channel partners can assist their customers by helping them develop a balanced cybersecurity strategy that addresses both the prevention and detection of breaches and cyberthreats in general.”

Opaq Networks Beefs Up Security-as-a-Service Cloud

Opaq Networks has added microsegmentation for endpoints to its cloud security-as-a-service platform for the channel, aimed at preventing lateral attacks, containing breaches and quarantining infected hosts. Opaq PathProtect technology provides visibility and control over network activity, and the ability to locally enforce security policies on devices from the cloud.

“Companies are struggling to implement and manage a microsegmentation strategy that adheres to zero-trust security principles,” said Tom Cross, Opaq’s CTO. “This is particularly true for midsize enterprises that lack the expertise and resources to defend against lateralization attacks. Opaq PathProtect provides a powerful, simple and flexible tool that enables our channel partners to implement software-defined network segmentation-as-a-service from the cloud.”

PathProtect allows organizations to implement …

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