What Is Penetration Testing? Why Is It Important?

Cyber Security Companies Singapore, Blockchain Security Singapore

Penetration testing is not a question; it is the answer.

An answer to what, exactly, you may ask? Well, to the question of, “where is my business most vulnerable? what cyber weaknesses can a hacker exploit?”

Remember, malicious minds could not care less about what kind of identity access management system you have set up for your business. It is only interested in knowing how they can use vulnerabilities to their advantages.

With that said, conducting penetration tests regularly will help make sure that your business’ defences are as strong as ever.

To help further convince you why paying someone to hack into your system purposely is a good idea, we rounded up a couple of reasons down below:

1. It gives your in-house personnel a chance to experience what a cyberattack would be like. 

Because penetration tests are done without the knowledge of staff members, a company can test for possible weak spots and vulnerabilities. You can think of the tests as your typical fire or earthquake drills.

2. Test all possible worst-case scenarios. 

Speaking of vulnerabilities, cybersecurity isn’t something that you just put into place. Hackers are always on the lookout for ways to exploit the slightest weaknesses.

You can address any possible weaknesses of your company’s cybersecurity system by identifying what kind of problems arose during a routine penetration test.

3. Gather data and insights on how to improve security. 

Penetration tests are primarily legal hackers. They think and act like one. As a result, they’ll tell you more about your business’ security more than you’d expect. Using the reports generated from their attacks will tell you a lot about what kind of improvements you’ll need to do for your business. Like, for example, whether or not a Singapore singpass F2A setup is necessary or not, among other things. You can also seek assistance from cyber security companies in Singapore that offers blockchain security.

4. Prepare the team for attacks in the future. 

If your company’s IT security team sees what an attacker does to the company’s security system, they will find out more about their lapses and mistakes. This allows the team to improve on their mistakes and minimize the chances of an actual attack happening.

Businesses who are not taking advantage of regular penetration tests are not doing themselves any favours. They are allowing hackers with malicious intent to get their way.

Your organization deserves the best security that it can afford. But, even then, it doesn’t matter how “comprehensive” your company’s cybersecurity measures are. Because, if you are not routinely testing its system for weak spots and vulnerabilities, then you’re only leaving it open to potential attacks.

So, do your business a favour and schedule regular penetration tests starting today.

The first few penetration tests may give you some rather shocking results, but that only show how much your business needs to improve on its security against cyber threats.

Methods To Utilize To Recover From A Ransomware Attack

IT Security Companies Singapore, Blockchain Solution Vendor Singapore

The effects of a cybersecurity breach are both immediate and long-term, making the prevention of cyber threats one of the most underrated and overlooked expenses by a modern company.

It is only after suffering from a cyber-attack, like, for example, a ransomware attack, that a business realizes just how important prevention is. But, if you’re already there, and your company has suffered from a ransomware attack, what are your options?

What is a Ransomware Attack?

Ransomware attacks are real, and they have happened to multiple companies in the past, both big and small.

Businesses cannot afford to deny their existence.

Any organization that turns a blind eye to the reality of cyber threats will eventually see just how big of a problem they can be. However, the thing is, cyber threats like ransomware aren’t going to stop anytime soon.

So, what can a business do, especially if they have already been a victim of a ransomware attack?

For starters, contacting IT security companies and blockchain solution vendors can be a great idea. These businesses specialize in offering data security services to companies of all sizes. They know the necessary measures to take to minimize the threat of security breaches in your company, as well as what to do to in case your business finds itself in an unfortunate situation.

But, first things first, what is a ransomware attack?

Ransomware is a type of malicious software that uses a variety of methods to lock the victim’s data and demands monetary compensation in exchange for returning access to the said data. However, anyone who have watched at least one modern action movie knows that most governments don’t negotiate with terrorists because it sets a precedent. There is also no guarantee that the terrorists are going to free the hostages.

The same thing applies when it comes to ransomware attacks.

What Can You Do About Ransomware Attacks?

The first order of business should be to try and find out what you lost while identifying ways to resume regular operation if possible.

Once you have done that, you need to outline a plan on how to recover your lost systems. But, perhaps, more importantly, your business should prepare for a possible second attack, even if you decide to pay the ransom.

The truth is, besides trying to recover your data from a secure back-up source, there’s not much your business can do about ransomware attacks once they have happened.

Prevention is Always Better than Cure

A ransomware attack is only as devastating as the amount of time you prepared for it.

For example, if you prepared your business for the eventuality of a ransomware attack, then losses incurred will be minimal.

This is why it’s essential to consult IT security companies on what kind of measures your business can take to minimize the potential losses from cyber-attacks. However, you should also consider talking to other companies who have gone through the same thing. Another essential way to prevent a ransomware attack is through the use of identity management products.

By working with experts and learning from the experience of others, your business will be better prepared for a ransomware attack in the future.

Is Blockchain Technology Truly Secure? How Secure Is It?

Information Security Companies Singapore, Blockchain Solution Vendor Singapore

Over the internet, it’s only natural for people to not want to trust each other. This is because, the phrase, “the world isn’t a nice place”, applies even more online, where people have every reason to be skeptical of one another.

For that very reason, using a secure blockchain platform is becoming more and more popular.

Using highly sophisticated and innovative software, blockchains make it difficult for even the most ingenious of attackers to manipulate and extract data for their own malicious purposes.

How and Why is Blockchain Secure?

Information security companies in Singapore and Singapore blockchain solution vendors recommend blockchain technology because it uses a combination of both public and private keys made up of a random combination of numbers and letters in place of traditionally weak passwords to keep online assets secure and difficult to steal.

The reason why blockchain technology is more secure is because of decentralization.

The typical security practice is to use a centralized system. This works, to some extent, in making things convenient, because data is much more easily shared between multiple users when a system is centralized. But, the problem with this is that, it only takes a single instance of vulnerability, whether it be failure to keep systems updated, patched, or secured, or negligence in the part of the IT security company, to put the entire network at tremendous risk of penetration.

That’s where blockchain technology comes in.

Blockchain technology uses the exact opposite principle used in centralization. Instead of having a single point of failure, blockchain acts as an information ledger that is then distributed across an entire network.

What this means is that, there’s no single point of vulnerability — hackers will need to attack the entire network at once, otherwise, they’ll only be able to collect a minuscule amount of data, if any at all.

Decentralization also comes with other benefits.

For example, even if there is a point of failure, blockchain technology keeps sensitive data secure somewhere else.

This concept is essentially what makes using a secure blockchain platform such a good idea.

Is Blockchain Technology Impossible to Hack?

Yes, and no.

The concept of blockchain technology means that it should be impossible to hack. However, it still has areas of vulnerability that can be exploited. Like, for starters, despite being built on the premise of decentralization, certain aspects of blockchain technology are still centralized.

Cryptocurrency exchanges, for example, pose as a significant area of vulnerability, with hackers already having used this single point of entry to gain access to an entire network.

This is also why there have been calls to decentralize exchanges to help make the distribution of assets and information more secure and less prone to hacks.

With that said, there’s no doubt about how effective blockchain technology is as a secure and hard-to-break technology that’s only going to keep on improving as the need for increased security against cyber threat goes.

To know more about blockchain technology and how it can help your business, make sure to contact your local IT security companies.

Your business’ assets are more prone than you might think.

Investing in an added layer of cyber security not only protects your business from the immediate effects of a cyber threat, but also from the long-term effects of a security breach on your brand and your company’s relationship with its customers.

Users should also make use of identity management products to keep their blockchain keys safe. For Singaporean users, you can choose to utilize singpass 2fa setup Singapore, to further protect your personal data.

 

3 Ways Your Business Can Secure Your Website With Blockchain

Blockchain Solution Vendor, Blockchain Solution Vendor Singapore

Initially branded as “impossible to penetrate”, we have come to learn over the past few years that blockchain technology is not immune to vulnerabilities.

Still, compared to traditional security measures, blockchain technology is, by far, more secure.

Using blockchain to help keep your business’ assets secure is a good idea. However, there are ways to beef up its already impressive security even more.

Below, we have outlined ways that your business can secure your blockchain platform.

1. Use well-designed smart contracts

In light of the recent attacks to the seemingly impenetrable blockchain technology, organizations such as the Financial Stability Oversight Council (FSOC) are expressing concerns about the security of the platform.

In particular, they fear that the very nature of the blockchain itself makes it susceptible to fraud.

This is a valid concern and one that has yet to be fully solved. However, it’s important for everyone who is part of the blockchain ecosystem, not to fear to make mistakes. Instead, it is better to continue contributing to the development of the technology, albeit proceeding as cautiously and wisely as possible.

Using well-designed smart contracts is an excellent way to keep the general participants free from corruption, including but not limited to instances of collusion.

2. Independent penetration testing

Because blockchain technology originated in bitcoin, blockchains not solely dedicated to cryptocurrencies are still new and vastly experimental. This significantly increases the risk of the deployment on live blockchains code that has yet to receive sufficient testing.

There have been instances of such blockchains being the subject of attacks and threats.

For this very reason, independent penetration testing is essential.

By working closely with independent Singapore IT security companies and identifying vulnerabilities in your blockchain platform, you can prevent your business from being at the receiving end of a malicious hacker.

3. Keep blockchain keys safe

Sometimes, it’s not the actual blockchain platform that’s targeted, but the users who unknowingly enter, display, or store blockchain keys on vulnerable devices.

Thankfully, users can take steps to prevent this from happening, such as:

  • Keeping your operating system updated at all times, especially when it is a security patch or update.
  • Using a trusted and regularly updated antivirus software.
  • Only keep your blockchain keys store in an encrypted application, or if you must include it in an email, use your blockchain wallet’s email feature instead.
  • Using identity access management products
  • For Singaporean users, you can choose to utilize singpass 2fa setup Singapore to further protect your personal data

Keeping your blockchain keys safe is similar to keeping your data safe.

Make sure that your blockchain keys are safe from prying eyes by taking the necessary steps, so they don’t end up leaving your device.

Blockchain technology is secure and difficult to penetrate. But, it is not invulnerable as once thought.

Understanding the complexities involved in implementing blockchain technology is not easy. This is why it’s important to work with cyber security companies and blockchain solution vendors in Singapore, that possess the necessary experiences and training in this field.

By working with a technology partner who takes the time to inform you of the issues solved by blockchain technology, as well as the potential vulnerabilities, you can save your business a lot of money, both short-term and long-term.