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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Business

    Posted By Jessica Weisman-Pitts

    Posted on November 9, 2021

    Featured image for article about Business

    A Zero Trust security system is an approach to the design and implementation of information security systems that assume every user, device or application accessing an IT system is untrusted and must be treated with the same level of scrutiny.

    The traditional approach to computer security has long been based on perimeter defences being designed based on threat intelligence about the most likely attackers targeting a network or organization. These approaches have begun to struggle when faced with new types of attacks and evolutions in the threat landscape.

    Perimeter-based defences, such as firewalls or signature-based antivirus software are no longer sufficient to protect networks.

    In this article, Charles Griffiths, Head of IT and Operations at AAG-IT.com shares his tips for implementing the strategy.

    How can organisations adopt Zero Trust security principles?

    Rolling out Zero Trust across an entire organisation requires control over identities, devices, applications, data, infrastructure and networks. Zero Trust is not a single product or appliance to buy, but an ideology of security. It involves pulling the traditional perimeter back and combining traditional network access controls with user behaviour analytics (UBA) and micro-segmentation.

    If you are planning on adopting Zero Trust initiatives in your organization, this is what you need to take into account:

    • Identities

    Strong identities are a fundamental part of Zero Trust, and they’re critical for establishing trust and access within the environment. Strong identities are also important for supporting a Zero Trust framework because they are the basis of verifying users before accessing systems. One method of enabling strong identity is to leverage multi-factor authentication methods such as two-factor (2FA) or mobile authentication.

    • Multifactoral Authentification

    Multifactor or continuous authentication is not a single approach, but several methods that can be deployed together to add levels of trust on top of an identity framework. The three basic approaches to authentication are:

    1. Single-factor authentication (SFA): This is based on something you know, such as a user ID and password or PIN. It’s the most common authentication method used today
    2. Multi-factor authentication (MFA): This is based on something you have, such as a security token, smart card or mobile device. MFA can be combined with SFA.
    3. Continuous Authentication (CFA): This is a method of confirming identity in real-time. It’s accurate, convenient and prevents attacks that have been successful in the past because it doesn’t rely on static data.

    MFA and CFA are recommended levels of security within a Zero Trust framework.

    • Passwordless Authentication

    We recommend methods of passwordless authentication to our clients such as the YubiKey. The Yubikey is a hardware-based device that replaces passwords. It’s a durable, inexpensive and convenient method of strong authentication that can also be used as a USB HID device or NFC.

    • Network Segmentation

    Network segmentation and the ability to implement network controls allow for traffic policy to be implemented for each department and application. By taking advantage of micro-segmentation, a network can introduce finer levels of granular controls within the firewall or perimeter to limit access, protect against denial-of-service attacks, etc. NetSeg is a framework that enables this type of authentication framework in open source systems.

    • Secure ALL devices on your network

    Allowing unaudited and unpatched devices onto your network has the potential to cause a lot of damage. In the past, it was fairly easy to block all devices that weren’t part of your network policies, but today’s world involves BYOD (Bring Your Own Device) and other scenarios where users and vendors connect new or unapproved devices to the network regularly. View every user device as a potential threat and limit access to sensitive resources.

    • Be specific with user roles and access

    Security control should become an integral part of organisational policy. Roles and access should be as granular as possible, with clear definitions for each role. For a good example of this framework in action, take a look at AWS’s Identity and Access Management (IAM) framework. It has become one of the best examples of an effective identity framework thanks to its clear separation between roles and privileges.

    ———————————————————————————————————————

    If you do plan on adopting Zero Trust initiatives in your organization then bear in mind the following advice:

    A Zero Trust framework isn’t something that can be implemented overnight. Ensure you start in a test or development environment, and once the Zero Trust model has been successfully established, aim to implement it to your entire digital architecture.

    Charles Griffiths from AAG.com further explains that “the best way to do something with “Zero Trust” seems to be to not have trust at all. As in, don’t rely on any single measure of security and make sure that your cybersecurity is complete from all angles without relying on a single form of protection as the end-all. Be aware of any potential security issues and be prepared right from the start. Only having one form of defence can leave you in a vulnerable position if that strategy fails (which it might), so invest in the many different forms of defence and be ready. Once it’s established, you’ll be good to go.”

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