Showing posts with label Technology. Show all posts
Showing posts with label Technology. Show all posts

Cyber Security for Finance Companies

Posted by Tushar Bedekar
comelec_data_breach
The recent data breach of information giant Equifax underlines the harsh reality that finance companies have to face – when it comes to protecting consumer data, size doesn’t matter. The financial services industry remains under constant threat of cyber attacks.


In the Equifax case, hackers were able to access the personal data of 143 million customers, reports CNN. The breach occurred when the attackers gained access to the company's Apache Struts software – used to develop its online dispute center web application.


Following the attack, it was reported that the U.S. Department of Cybersecurity had alerted Equifax and other users to the Apache system vulnerabilities at least a month prior to the attack, yet the data conglomerate failed to take immediate action to patch holes. The shocking headline is a reminder of the importance of continued monitoring and safeguarding a company's network infrastructure.  

The New Threat: Ransomeware Alert


On May 17, 2017, the Office of Compliance Inspections and Examinations (OCIE) issued a press release stating, “a widespread ransomeware attack, known as WannaCry, WCry, or Wanna Decryptor, rapidly affected numerous organizations across over one hundred countries” – which highlights the importance of performing routine scans, penetration tests, and updates.
Among those identified as susceptible to the cyber threat were broker dealers, financial advisers, private funds, and investment management firms.

26% of advisers and funds (collectively, “investment management firms”) examined did not conduct periodic risk assessments of critical systems to identify cyber security threats, vulnerabilities, and the potential business consequences
57% of investment management firms examined did not conduct penetration tests and vulnerability scans on systems that the firms considered to be critical

Cyber Security Best Practices


Many SMBs in the financial services industry are wondering what they can do to keep their network safe and secure. By following a standard protocol and by following the best cyber security solutions for financial businesses, you can feel rest assured you will be armed and ready for attackers.

Develop & Distribute Cyber Security Guidelines – In the unfortunate event your firm is attacked, ensure that all employees are aware of the firm’s cyber security protocol. Keep the document updated and notify employees regarding changes.

Train Your Employees – Appoint a cyber team leader to schedule periodic training meetings. If your firm works with outside IT specialists, the appointed team leader will work closely with your outside cyber security team to schedule office visits and train employees on security systems.

Perform Routine Risk Assessments – Perform routine risk assessments to monitor and catch potential threats. Get alerted to the latest “Risk Alerts” published on the OCIE website. However, working with an outside cyber security firm takes the pressure off. Your dedicated IT Specialists will monitor your network, scan your system, and implement preventive measures that mitigate risks.

Consider An Off-Site Cloud Server Data Management Center – The most proactive security measure your firm can take to safeguard its data network is a cloud server-based solution. This is sophisticated data solution that employs the around-the-clock monitoring of data management center to service your servers, storage, and applications.

Proper Detection And Elimination Tools


The threats are real and they are unstoppable. Attackers troll the web 24/7 - on the lookout for a way into your company’s data infrastructure. However, malicious spyware, ransomware, and malware can be detected and eliminated before it causes any serious or permanent damage.

By implementing proper detection and spyware elimination tools finance companies are able of keeping customer data out of the hands of cyber hijackers. Your cyber security team or IT Specialist needs to be ready to act immediately to carry-out your cyber security guidelines to catch suspicious activity and suspected threats. Also, ensure that periodic risk assessments are performed on a timely basis.

Expert IT Specialists

The types of methods deployed by cyber attackers are constantly shifting and evolving, presenting a challenge for cyber security professionals. To stay ahead of threats, work with a dedicated team of cyber security specialists.

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--AUTHOR INFO—

This is the Guest Post Written by Stephanie Rowan who works as an IT Consultant at NIC. And I think he is an expert in Information Technology after receiving such a nice drafted article as a gust post from him. 
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How Big Data And IOT Technology Is Shaping Our Future

Posted by Tushar Bedekar
The future of all aspects of our culture and society will rely on advancements in IoT technology and big data. While big data and IoT technology are two different technological concepts, each is directly related to each other, and the future of each are tied to each other.

IoT technology will allow individuals and companies to connect various aspects of their life through devices that communicate with each other through an Internet connection. These devices will open new possibilities to help individuals accomplish their personal goals, along with allowing businesses to increase efficiency in all areas of operation.

IoT is the technology that focuses on collecting massive amounts of information from individual devices. However, the information that is collected is only as good as the ability to analyze and interpret the information based on specific criteria.



Big data is a vital component for the advancement of IoT technology because big data provides the capability to store and analyze massive amounts of data to find specific patterns and make sense of all the information collected. 

Big Data Is The Backbone For IOT Technology

As technological advancements continue to speed ahead, IoT technology is seeing a big push in capabilities and integration into cultures across the globe. The progression of the web is a system of physical items which could be retrieved through an Internet connection.

These connected devices and sensors are being integrated into everyday products like cars, thermostats, and dishwashers. As more devices become connected, sensors are becoming embedded with technology that can interact with other sensors across all aspects of the environment.

IoT will continue to collect more data, and big data processing will help make that information more relevant. Here are three ways that IoT technology and big data will improve the future of connected devices.

1. Improved Data Quality

It’s easy to collect massive amounts of evidence, but it's hard to ensure the quality of data as the volume increases. Even more, data scientists are finding it increasingly difficult to analyze and interpret data as the stream of incoming data increases at the same time.

Big data and IoT is the rise in the quantity of information which will hit the information storage framework for personal and business applications. Data centers will need to utilize advanced data processing practices to ensure there is the appropriate capability to analyze data in real-time, especially at peak periods.

2. Big Data Will Increase Cloud Computing

Taking into account the massive effect IoT will on information storage infrastructure, organizations have started to move towards the Platform-as-a-Service version, a cloud-based alternative, instead of relying on physical storage centers on-site.

Unlike, in-house info systems which will need to be continuously updated as the information load rises, PaaS offers flexibility, scalability, compliance, along with an elaborate architecture to store all valuable IoT data.

Cloud storage alternatives include private, public, in addition to hybrid versions. If a business has sensitive information which is subject to some regulatory compliance conditions that need heightened security, utilizing a personal cloud are the ideal plan of action. For other businesses, a hybrid or public cloud may be used for the storage of IoT data.

3. IoT Technology And Big Data Will Drive Personalization

In a world driven by technology, the ultimate goal of IoT technology and big data is to provide a personalized experience on an individual basis. No longer will people read a generic marketing message. Instead, businesses will be able to engage with individual customers based on unique qualities and input as defined by data submitted from their IoT devices.

For example, the popular Nest thermostat will find patterns for the temperature of a home based on the season and specific preferences of a household. This information can be used in conjunction with other data points like air filtration systems to provide personalized product recommendations based on allergenic, seasonality, and other factors not available to businesses or consumers today.

Another example of IoT making communications hyper-personal is the fact that IoT technology will reshape how we commute throughout our day. Instead of physically driving, autonomous car technology will allow us to engage with interactive media. This means that companies will have a new opportunity to speak directly to their customers and customize Internet marketing message based on geographic location, final destination, and other factors.

Personalization is only possible if IoT technology and big data systems work together to collect and process information in a way that makes that data meaningful. These two technologies will allow a new level of customization and personalization in all areas of life.

IoT And Big Data Will Focus On Security Concerns

Security concerns will continue to be at the forefront of technology. The ability for hackers to break individual devices that are collecting data will be an issue, along with, the security of data centers and big data processing locations. All of these points present potential security concerns for individuals and businesses that utilize IoT technology.

IoT is a new and quickly evolving specialty, which means that many data specialists lack the technical know-how and best practices to secure information collected and stored by IoT devices. Attacks of any type can endanger more than just information. There's also the risk of damage to the apparatus on the network.

Within this sort of world, it is going to become necessary for businesses to make crucial changes to their safety landscape. IoT apparatus will come in assorted sizes and shapes and will be found beyond the network, but also has to have the ability to communicate with corporate programs.

The future of technology looks bright as we continue to see advancements in IoT and big data. These technologies will continue to impact our lives in ways we might not have even thought of yet, but if technology leaders keep the future in mind then we will keep seeing the benefits of this technological evolution emerge!


--AUTHOR INFO—

Chris is a Digital Media Strategy Consultant who helps small business owners grow their business with SEO and PPC Management Services. He is passionate about digital marketing, emerging technologies, and transportation issues.
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What is Cloud Computing

Posted by Tushar Bedekar

Cloud Computing: Meaning and Implications.


Cloud computing represents a new revolutionary organizing principle for computing. It is new because of its scale and revolutionary because of its consequences. For instance, it liberates individual and institutions from owning a computing device or infrastructure but still make them capable of accessing computing resources. Today an developer can avail and access and meet computational needs from outside by way of cloud computing services and  without building or buying her own computing infrastructure.  

Cloud computing builds resources in large and supply in retail. For example, a user in cyber center is availing a service such as email- Gmail or Hotmail. Cloud computing separates developing computing from its consumption. In doing so it has created an entire spectrum of industries - 
  • Infrastructure as a service-  business of building and supplying basic computational resources such as computing, storage -   

allaboutcomputing.net
            
  • Platform as a service-  business of providing computing resources and environment for building and operating services 
allaboutcomputing.net

  • Software- as a service - business of developing and offering software 

allaboutcomputing.net

Cloud Computing: Physical Meaning

Cloud computing is new service paradigm. It refers to the provision of computational resources on demand via a network.In its practical and most widely known form this network is the Internet. However cloud can be developed and deployed on network which not necessarily the Internet. When done that way, cloud may resemble a kind of VPN.. The central idea behind cloud computing model is derived and can be can be compared to the supply of electricity and gas, or the provision of telephone, television and postal services. All of these services are presented to the users in a simple way that is easy to understand without the users needing to know how the services are provided. In other words,  benefits are for users and burden is for the provider.  The details workings of a system behind a service always remains a mystery for the end user.

Example: A letter posted in Bangalore will reach its destination say in Gujarat using postal network consisting of many points where it gets bagged( putting into a bag meant for a destination) and debugged ( when a letter is removed from a bag when it has to reach a different destination).  



However, postal service seeker is not concerned with these detail. Her only one objective is to send/receive a letter. The behind the scene mechanism always remains mystery but she is given a simple interface A post office to send her letter. This simplified view is called an abstraction. Similarly, cloud computing offers computer application developers and users an abstract view of services that simplifies and ignores much of the details and inner workings. A provider's offering of abstracted Internet services is often called as Cloud. 

Cloud Computing In a Nutshell:-

Cloud computing is a multi-perspective and multi-dimensional phenomenon.  The answer to the question “What is cloud computing “is depends on who is answering that question. However, the most widely known perspective on cloud computing projects it as a service delivery model that uses the Internet as the common interface to reach its beneficiary. The beneficiary of cloud computing service could be a citizen, consumer or a learner depending on whether it is used by a government, business or university. When applied to business, cloud computing assumes a sharper form and becomes service composition, delivery and consumption model. 

The categories of services that a business can deliver using cloud computing is currently limited to three (although some are on the horizon) and is known as “service models”. The different purposes for which an enterprise can build a cloud computing infrastructure and ways in which it can  determine its scope and access is described in cloud “deployment models” and at,present there are four ways in which this can be done. The cloud computing phenomenon because of its huge scope and deep potential to participate in virtually all human affairs – banking to education to health and others is tackling all important and perpetually concerned issues such as cloud security and trans-border business aspects. In sum cloud computing is a living and affecting lives of many. 







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