IT leaders understand that security is a critical component of their systems and technological choices, now more than ever. The main challenge is understanding all the risks at hand and choosing the right solutions that can protect against them. While risks and threats vary between industries, organization types and even geographies, there are still foundational and ubiquitous risks each organization must protect against.
In this blog post, we list some of the most important security risks organizations are dealing with in 2024, and how to protect against them. After reading this blog, you will be equipped with an understanding of how to plan for the upcoming months, and even years, ahead.
1. The Risk: Insider Threats
Insider threats are actions taken by individuals within an organization that can jeopardize security. These actions can be either malicious or unintentional. For example, employees falling victim to social engineering or well-meaning employees accidentally exposing sensitive information in the case of inadvertent actions. Or, malicious actions like disgruntled employees leaking data.
According to the Verizon DBIR 2024, this is a prevalent threat. 68% of breaches in 2024 involved a non-malicious human element, like a person falling victim to a social engineering attack or making an error. Inside cyber threats are particularly challenging because insiders often have legitimate access to systems and sensitive information, making it harder to detect and mitigate their activities.
How a Secure Enclave Can Help Protect Against Insider Threats
A Secure Enclave is a virtual wrapper that separates work from personal activities on BYOD laptops. In this setup, even if attackers manage to compromise the personal side of an endpoint—perhaps through phishing, malware, or other deceptive tactics—they would be blocked from accessing any corporate resources. This isolation ensures that breaches on the personal front do not spill over into sensitive work areas.
In addition, risk inside the Secure Enclave, which is visually indicated by a Blue Border in Venn’s case, can also be significantly reduced. Activities such as copying and pasting data to external environments or moving files out of the secure boundary are disabled. This prevents sensitive information from being accidentally or maliciously exported out of the secure environment. In addition, the company can exert full control over the browsing activities within Venn’s Blue Border, blocking access to phishing and other malicious websites.
2. The Risk: Unauthorized Access
Unauthorized access occurs when malicious actors gain entry to systems, applications, or data without permission. This can happen by exploiting vulnerabilities, breaking weak passwords, stealing credentials, or insider threats. Once inside, attackers may steal sensitive information, inject malware, manipulate data, or disrupt operations. For example, they may carry out one of the above attacks by deploying ransomware. According to the Verizon DVIR 2024, 30% of attacks involved exploited credentials as the entry point.
How a Secure Enclave Can Help Protect Against Unauthorized Access
Venn’s Secure Enclave provides a critical security layer by serving as a private company gateway for accessing various applications and web apps. This approach ensures that before any user can interact with potentially sensitive or critical systems, they must first successfully authenticate themselves through Venn. This reduces the risk of unauthorized access and enables auditing and monitoring.
3. The Risk: Data Exfiltration
Data exfiltration refers to the unauthorized transfer of data from within an organization to an external destination. This can occur either intentionally or accidentally through various methods such as email, USB drives, screenshots, or even sophisticated malware designed to stealthily siphon data. The consequences of data exfiltration are severe, including financial loss, reputational damage, and regulatory penalties, especially with the increasing emphasis on data privacy laws and compliance requirements for various industries.
How a Secure Enclave Can Help Protect Against Cloud Infrastructure Vulnerabilities
Secure Enclaves offer robust protection against data exfiltration by enforcing strict controls and monitoring within their environments. By creating a clear separation between personal and work environments, Secure Enclaves ensure that data within the secure boundary cannot be easily transferred to untrusted areas, preventing accidental or intentional data leaks. Within the Enclave, policies can be enforced to restrict data movement, tightly controlling actions like copying, pasting, downloading, and uploading to ensure that sensitive information remains within the secure environment.
Moreover, they continuously monitor user activities for any suspicious behavior that might indicate an attempt to exfiltrate data. Alerts can be generated for activities such as unusual data transfer volumes or access to unauthorized applications, enabling timely intervention. Additionally, all data within the Secure Enclave is encrypted, with access governed by stringent security measures. These measures ensure that only authorized personnel can interact with sensitive information, significantly reducing the risk of data exfiltration and ensuring that sensitive information remains protected and secure within a controlled and monitored environment.
4. The Risk: Malware
Malware poses severe threats to cybersecurity by infiltrating systems deeply and operating stealthily to evade detection. This deep integration allows them to execute malicious activities undetected, such as stealing sensitive data, logging keystrokes, or even disabling security measures. Advanced malware variants also exploit vulnerabilities in software or hardware, using sophisticated techniques to bypass traditional antivirus and intrusion detection systems.
How a Secure Enclave Can Help Protect Against Malware
Secure Enclaves operate in highly isolated hardware environments within the device, which is designed to be tamper-resistant. This isolation ensures that even if malware infects the main operating system or other parts of the device, it cannot access or manipulate the data and code within the enclave. Sensitive data in the enclave is shielded from any malicious software running outside its boundaries.
In addition, a Secure Enclave can be configured to enforce strict security policies on the device, commonly referred to as ‘device hygiene.’ This can include checks for security updates, the integrity of critical system files and the presence of security software. By ensuring that the device meets certain security standards before allowing access to sensitive functions or data, secure enclaves minimize the risk of malware infection.
Finally, in instances where a device is lost, stolen, or irrevocably compromised, a Secure Enclave can facilitate the remote wiping of sensitive data, rendering it unrecoverable. This capability can help control the damage in breach scenarios.
5. The Challenge: Meeting Compliance Requirements
Non-compliance with regulatory requirements poses significant security risks to organizations, extending beyond legal consequences to financial penalties, reputational damage and operational disruptions. Many industries, such as finance, healthcare and e-commerce, are subject to stringent regulations governing data privacy, security practices and reporting requirements.
Additionally, compliance failures can complicate efforts to secure cyber insurance coverage. Insurers often require organizations to demonstrate adherence to specific security standards and regulatory frameworks as part of their risk assessment processes. Without meeting these requirements, organizations may face higher premiums or difficulty obtaining adequate coverage against cyber incidents and data breaches.
Moreover, lacking compliance can indicate broader gaps in cybersecurity posture, increasing the likelihood of successful cyberattacks and subsequent financial and operational impacts.
How a Secure Enclave Helps Meet Compliance Requirements
With Venn’s Blue Border, companies can maintain compliance with the strictest cybersecurity standards, including: SOC 2 Type II, HIPAA, SEC, FINRA, NAIC, NYS DFS and Mass 201 CMR 17.00. These ensure enterprises can trust the platform to manage and protect critical and sensitive information effectively. This allows for operational continuity and maintains the confidence of customers, stakeholders and legal authorities.
Act Now
2024 is far from over, and there is still time to implement solutions that help mitigate relevant risks. Become a strategic and business-oriented IT leader by bringing in solutions that build long-term continuity for the business. By addressing security risks, from insider threats to malware, you are safeguarding the organization and ensuring its ability to grow for the years to come.
To learn more about how Venn’s Blue Border can help protect you in 2024, click here.
