Videos

Is cybersecurity part of your due diligence process when acquiring a business? It should be.

Private equity (PE) firms increasingly include attack surface evaluations in their pre-bid due diligence process. This is a crucial shift. Looking at the cybersecurity posture of a potential acquisition is as important as assessing the quality of earnings.

Why? The middle-market businesses that make up the core of PE portfolios often try to cut costs to boost EBITDA before a sale. But cybersecurity is not the place to skimp — especially when the average breach costs $4 million, and even more in financial services. IBM’s data shows that financial services breach costs average $6 million, second only to healthcare.

A breach in one portfolio company (portco) could lead to penetration of the PE firm itself, putting the entire portfolio at risk. And now, class-action lawsuits are commonplace in breach scenarios, with PE firms often drawn into litigation. Recent cases like Nautica Partners show how important it is to have robust security protocols in place.

PE firms must make cybersecurity a standard part of their due diligence. Tools like ProcessBolt provide comprehensive assessments and continuous monitoring, ensuring risks are identified and mitigated both before and after acquisition.

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DNS attacks are more common than you might think.

DNS configuration issues are an important yet often overlooked aspect of securing your organization's digital infrastructure.

DNS, or domain name service, serves as the directory that directs users from your website to the underlying corporate information. Despite its fundamental role, DNS has been a frequent target for hackers since the inception of the Internet.

The good news is that while DNS attacks are relatively easy to execute, they are also easy to defend against — if you know what to look for.

Organizations need to make sure that all DNS records are up to date. Some records, in particular, require special attention:

SPF, DMARC, and DKIM records: These control who can send emails on behalf of your organization.

CAA records: These limit who can issue certificates for your company.

CNAME records: Ensure these are valid and not vulnerable to exploitation.

The consequences of neglecting these can be severe.

Just look at the recent Omni Hotels breach. 3.5 million customers had their information exposed. The breach resulted in a week-long shutdown, causing widespread disruption.

Continuous monitoring of your DNS configuration and staying current with the latest developments in security protocols is essential to avoid becoming the next target.

How often are you reviewing your DNS settings to ensure they're not leaving your organization vulnerable?

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The exposure of internet-connected resources creates a prime target for malicious actors.

Establishing and rigorously enforcing hardening standards across the enterprise is important. Failure to do so can have catastrophic consequences, as evidenced by high-profile breaches such as those suffered by Microsoft, Colonial Pipeline, and T-Mobile.

Common vulnerabilities include using default configurations and failing to disable unused services. These seemingly minor oversights can have far-reaching implications.

By implementing comprehensive hardening standards, organizations can significantly reduce their attack surface and protect sensitive data.

How is your organization addressing the challenge of securing internet-facing assets?

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Encryption technology only works if you are constantly updating and maintaining it.

Failure to adopt and implement the latest encryption standards exposes organizations to significant risks. High-profile breaches involving deprecated software underscore the severity of this issue, which affects both small and large enterprises.

Establishing processes for identifying and addressing outdated encryption technologies is essential. Organizations can significantly reduce their attack surface by proactively updating and retiring obsolete systems.

Regular audits and assessments of encryption practices are crucial for maintaining a strong security posture. By staying ahead of emerging threats, organizations can protect sensitive data and build trust with customers and stakeholders.

Is your organization maintaining your encryption technology?

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Strong network configuration and segmentation are a great way to evaluate the strength of a security program.

Databases and remote access points should never be directly accessible on the Internet. Firewalls or VPNs provide a secure barrier.

The fewer public entry points, the less opportunity for attackers to exploit vulnerabilities.

Misconfigured cloud services can also expose sensitive data. Proper configuration is essential for data protection.

We can help you assess your vendor network's overall security posture through monitoring their network configuration in real time.

We'll verify the effectiveness of your vendors' network configuration and segmentation. And identify areas for improvement to strengthen your defenses further.

How are you approaching network configuration and segmentation within your organization? How are you vetting your vendors to ensure strong configuration practices?

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Keeping software up to date might sound simple, but it's often overlooked.

We see breaches caused by outdated software, such as unpatched Citrix applications (like the one you might be shocked to hear is still out there!). Attackers can avoid fancy tactics when readily exploitable weaknesses exist.

High-severity vulnerabilities have been found in everything from Microsoft Exchange to Zoho products and Fortinet VPNs.

Outdated software is a red flag.

Unpatched software signals a weak security posture at your vendors. It's a leading indicator of potential risk.

Unpatched software creates open doors for attackers. Prioritizing timely updates and implementing continuous monitoring are critical steps towards a more secure future.

What are your strategies for keeping software current and managing vendor risk?

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Attack surface monitoring is a crucial tool for monitoring potential security weaknesses.

The logic is simple: if you're not continuously monitoring Internet-facing attack surfaces – both yours and your vendors' – vulnerabilities remain hidden, leaving you exposed.

ProcessBolt ThreatScape tackles this challenge head-on. Our powerful tool uses publicly available information to inventory attack surfaces and then continuously monitors them to identify risks.

But what exactly should you be looking for? Here are the five most common observable issues that indicate a vulnerable or potentially compromised security program:

1. Outdated or unpatched software
2. Network configuration Issues (things like databases, RDP, and SSH Publicly Available)
3. Use of deprecated encryption
4. Server misconfiguration issues
5. DNS configuration issues

In following videos, we'll examine each of these five indicators in greater detail.

What are your best practices for identifying and addressing vendor security risks?

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With initiatives like GDPR and CCPA setting the tone for enhanced cybersecurity measures, things are changing.

As companies navigate these regulations, ensuring vendor compliance and security is crucial.

One area of concern is the exchange model, where vendors voluntarily share sensitive information for review by participating enterprises.

However, as privacy laws continue to change, this model raises significant concerns regarding the confidentiality of exchanged data.

We must question its long-term viability in the face of stringent privacy regulations.

Also, certain cybersecurity solutions, including the exchange model, may face scrutiny under these regulations.

How do you see things shifting with these new security regulations?

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Don't be caught off guard by the new DORA regulation — start preparing today. With the Digital Operational Resilience Act (DORA) set to take effect in the EU, we find an emphasis on third-party risk management. The specifics of Chapter V align closely with what ProcessBolt provides as a service.

First, a comprehensive risk assessment platform is essential. DORA requires a thorough evaluation of information, communication, and technology providers to understand their risk profiles. This assessment must be tiered based on the criticality of each vendor, ensuring compliance with the proportionality requirement.

Second, continuous monitoring is critical. DORA mandates that organizations maintain oversight of their vendor networks, analyzing and alerting on any changes in real-time. ProcessBolt provides this and allows organizations to identify risks before they escalate. Documentation and reporting also play a significant role in DORA compliance. Maintaining an updated register of all vendors and their contractual arrangements is necessary for audits.

Finally, resilience, business continuity, and exit strategies are integral components. DORA highlights the importance of preparing for potential disruptions, ensuring that organizations can respond effectively. Thankfully, ProcessBolt overlays perfectly with all these requirements.

With the January 17, 2025 deadline approaching, how are you preparing to meet these regulatory requirements?

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