A recent Venafi study revealed that many IT executives feel they’ve taken the wrong approach to cybersecurity, spending millions in “wasted” dollars on technology that will not effectively guard their organizations’ data against hackers or breaches.
“As organizations layer security controls to protect their business, 90 percent of CIOs admit to wasting millions on inadequate cybersecurity. Why? Keys and certificates—the foundation of cybersecurity that determines if software, devices, clouds, and applications are good or bad, friend or foe—are being left unmanaged and unprotected,” Venafi pointed out in the study. “The bad guys are taking advantage of this fatal flaw in enterprises’ security foundation and using keys and certificates to hide their actions and circumvent security controls.”
Kevin Bocek, vice president of threat intelligence and security strategy at Venafi, stated, “With a compromised, stolen, or forged key and certificate, attackers can impersonate, surveil, and monitor their targets’ websites, infrastructure, clouds, and mobile devices, and decrypt communications thought to be private. Increasingly, the systems we’ve put in place to verify and establish online trust are being turned against us.”
This story in an excerpt of the original. The content originally appeared in Cyber Front Page News. To read the whole story, you must be a subscriber. Subscribe now.
Erin is the managing editor of Advisen’s Front Page News. She has been covering property-casualty insurance since 2000. Previously, Erin served as editor-in-chief of The Standard, New England’s Insurance Weekly. Erin is based in Boston, Mass. Contact Erin at [email protected].
