5 ways to Prevent & Minimize the Impacts of Ransomware Attacks on your Business

by Triway Technologies | Dec 26, 2022 | Cyber Security, Security Solutions

What is Ransomware?

The explosive rise of the Internet and Digital Technology has seen our lives, businesses and information connected like never before – and with it has also grown the dark world of Cybercrime and Cyber Attacks.
While there are numerous kinds of Cyber Attacks, Ransomware is arguably one of the most nefarious. This is because Ransomware bases itself on a corruption of the field of Cryptography – the practice and technique of securing communication channels, resulting in Cryptovirology. It distorts and violates the techniques and tools of Cryptography and devises powerful forms of Malware including Ransomware and Asymmetric Backdoors.

Ransomware once unleashed, threatens to publish a target’s personal data or worse still, permanently block the target’s access to his/her own data – unless the target pays a ransom. It can thus be used to mount extortion-based attacks that cause loss of access to information, loss of confidentiality, and information leakage, tasks which cryptography typically prevents.

How Common is a Ransomware Attack?

The first documented Ransomware was in 1989 and was known as the AIDS Trojan. The AIDS Trojan was a DOS Trojan Horse, whose payload encrypted the names of all the directories on drive C: Since then, though, the scale and complexities of Trojan-styled Ransomware have increased exponentially. Statistics reveal that the first 6 months of 2018 saw close to 200 million Ransomware attacks globally – a 229% increase over the same time frame in 2017. A report by SonicWall claimed that in 2021, the number of such attacks was around 623 million.

What makes Ransomware so dangerous is that it is designed to spread across a network and target database and file servers, and quickly paralyze an entire organization. Every year It generates billions of dollars in payments to cyber criminals and inflicts significant costs and damage on businesses and governmental organizations.

The unfortunate and brutal truth is that if you are a modern business, there is almost no way of avoiding ransomware attacks. Even the best malware protection and cyber infrastructure, cannot completely guard against ransomware infections. However, that doesn’t mean that there is nothing you can do.

Here are a few essential steps that you as a business must take to mitigate the impact of Ransomware Attacks and keep your business and customer data safe and secure.

1. Nothing can beat a good ‘Backup’

One of the most dangerous types of Ransomware is called Encrypting Ransomware. A business that falls prey to such an attack, will be able to browse through its own files but not be allowed to open or access any of them – thus in a sense making the infected files almost completely useless. The only safeguard a business can have against such an eventuality is a ‘Defensive Approach’ – whereby, each of the files has a secure backup.

It is important to note however that the backups must be stored in such a way that they do not also fall prey to Ransomware. This is why it is important to have a minimum of 3 or sometimes even 4 backup copies of all critical business data also stored across different media formats – SSD drives and Cloud Storage.
It is also very important for any business to keep updating its OS and software to their latest configurations, such as using the latest forms of Windows, etc.

2. Curiosity kills the Cat

Ransomware attacks most often depend on weak links within an organization’s chain to infect critical data. The most common forms of Ransomware use phishing emails that contain malicious attachments. The victim’s entire system can get infected if even one member of the team naively visits a harmful website or downloads and installs malware without knowing.

This is why one of the principal steps for an organization in combating Ransomware is staff training. Employees, particularly those linked to the main server and those handling critical data, must be trained to identify emails that seem ‘fishy’ or suspicious. The staff must also be trained to report any mistake (accidental or otherwise) to the IT department at the earliest, as early detection can help control the spread of Ransomware and the damage it can do.

Another very important detail that an organization must always insist on its staff on is that for any software or installations, only authentic links be used. The risk of Ransomware goes up exponentially in cases of downloading software or media records from unknown places.

A simple protocol that all staff must always abide by is to ensure that the browser address bar of the page uses “https” in place of “http”. A protection or padlock icon in the address bar can also designate that the page is safe.

3. Firewall Technology/Web Application Security and constant monitoring

The only way an organization can create real ransomware protection is by installing a network firewall, with progressive threat defenses. The Barracuda CloudGen Firewall is an example of such a network, as it scans all network circulation for possible ransomware, malware, and other cyber threats to the network.

The Sophos XG Firewall works on slightly different parameters by offering network defense against ransomware and other progressive threats, including crypto mining, bots, virus, hacking, exploits, and APIs. XG Firewall also offers an easy, elegant way to manage RDP and supports the latest TLS 1.3 standard.

4. It is vital to protect Endpoint Devices

As almost 100% of Ransomware attacks always originate from a source that is external to the organization, Device Endpoint Protection is very effective against such attacks. Staff must be trained to never attach any kind of USB key or Storage Media to any computer in the organization – if they cannot trust the source of said storage device. Another ‘best practice’ is to ensure that the OS is always kept updated. Every effort must be made to make it as difficult as possible for Cybercriminals to inject malware into the system.

5. As with everything else in life, ‘Hygiene’ is key

Even though cyberattacks and ransomware are becoming increasingly complex and sophisticated, Cybersecurity experts are unanimous in their belief that most of these attacks can be warded off just by practicing good Cyber Hygiene.
Even if your organization lacks the means or resources to implement very advanced cyber security protocols, creating an environment of ‘cyber resilience’ and good online behavior amongst the staff is critical for the basic safety of the business.

It is important to provide regular security awareness training for every member of your organization so they can avoid phishing and other social engineering attacks. Conduct regular drills and tests to be sure that training is being observed.

The staff must also be trained to only use secure networks and avoid public Wi-Fi networks, as many of them are not secure. An organization that handles data on its customers must also consider installing a VPN, which provides a secure connection to the internet, regardless of location.

To know more about Cyber Security Services, reach out to us @ Triway and submit your query. Our team of highly skilled experts will help you with your Security needs.

How Artificial Intelligence is shaping the Future of Business in the UAE

by Triway Technologies | Dec 19, 2022 | Software Services

An Introduction to AI

For most of us, the term Artificial Intelligence or AI generally invokes images of a Hollywood influenced ‘dystopia’ in which intelligent machines overcome their initial programming and work together to rule over humanity. As terrifying as that scenario might sound, what it doesn’t reveal is that AI, or at least the study of AI has been with us since the mid-1950s.

What we refer to as the ‘Modern World’ is built on the foundation of machines being able to perform various computational and other decision-making functions in a ‘human-like’ way, while simultaneously learning and adapting to new data.

Data is central to Artificial Intelligence as the ability of machines to learn and evolve decision making capacities depends on analyzing an ever-increasing flow of information. This is also why, since the Internet boom of the late 1990s, AI has evolved at an unbelievable pace.

AI and Modern Business:

Modern businesses access and consume data at an unmatched rate and a 2021 Forbes report revealed that Data Consumption by companies increased by 5000% between 2010 and 2020. AI has gone from being seen as ‘exotic technology’ by C-suite executives to becoming a core part of most modern business operations. A report by Grand View Research reveals that the Global AI market share was $ 62 billion in 2020 and is poised to grow at an annual growth rate of 42% till 2028.

While Artificial Intelligence can be used in a wide variety of ways, most business applications are based on driving growth. In addition, the application of AI to business processes can help in boosting process efficiency through automation and using insights gained from customers to uncover new business opportunities and boost revenues.

AI & Machine Learning

Machine Learning is a form of AI algorithm which appears to “learn” or “evolve” when fed copious amounts of Data. While Machine Learning algorithms are extremely useful in identifying flaws or gaps in production processes, thus improving efficiency levels, in the last few years, companies have started adapting these algorithms towards analyzing market trends and customer data as well.

AI & Deep Learning

An even more complex form of Machine Learning AI is referred to as Deep Learning, wherein neural networks are used to conduct non-linear reasoning. Deep Learning tools are particularly useful in activities such as Fraud Detection and Self Driving (driverless) Vehicles, where complex data and numerous factors have to be identified, analyzed, and responded to simultaneously. What makes Deep Learning models so significant for business scalability is the fact that they seem to be most ‘independent’ when compared to older Machine Learning models.

UAE & AI

The UAE Government has always been blessed with visionary leadership and it was this vision that saw the Emirates Kingdom launch its Artificial Intelligence Strategy in 2017. With the launch came the ambitious goal of making the UAE – the global leader in AI by 2031. This vision includes expanding the use of AI from the services and infrastructure sectors to segments like education, energy, transportation, and space technology.

More recently, His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai announced plans for the ambitious ‘Centennial 2071 Project’ – a landmark initiative designed to use cutting-edge technology to focus on the economy, education, development, and community cohesion and create a happier and healthier ecosystem for all future generations.

For some time now, the UAE Government has very actively focused on AI through several ground-breaking initiatives such as:

1. Establishing the AI Ministry in 2017, which started a ‘Think AI Initiative’ to help integrate the various systems that use AI across the UAE.

2. The Dubai Health Authority (DHA) has seen immense growth in AI based applications in healthcare – particularly in the aftermath of the pandemic and has already begun working on plans to use AI based Robotics to automate surgeries and other medical procedures.

3. The pandemic also saw the UAE partner with several Tech and AI platforms to help augment the education sector, by digitally integrating education programs across several major schools.

4. AI based tools, including Facial Recognition software and automated robots have also been used in a wide variety of ways on the security front. The Covid Pandemic also saw the use of this technology by the Police, who used Smart Helmets equipped with Thermal Cameras to detect infected patients from a distance.

The future promises massive growth opportunities in the AI and Tech Space

AI and affiliated technologies are here to stay and the efforts taken by the UAE government will continue to see results in the years to come. A McKinsey Study in 2018 predicted that by the year 2030, about 45% of all existing jobs in the Middle East will be automated.

Almost all major businesses will look to make AI and AI based tools and technologies an increasing part of their work processes and we are certain to see their use in the following areas of business grow even further:

1. Machine Learning and Data Analytics especially in identifying Customer Behavior and Market Trends.

2. Improving Customer Service and Customer Relationship Management.

3. Segmenting the Audience and providing Product Recommendations.

4. Cybersecurity and Fraud Identification

5. Optimization of Supply Chain Operations.

For more information on how you can use AI to integrate and automate your business processes, reach out to us @ Triway Technologies

5 Things you must know regarding Cyber Security and Mental Health

by Triway Technologies | Nov 30, 2022 | Cyber Security, Security Solutions, Software Services

When we think Cyber Security, we think – of Tech, Hackers, Data, Phishing, Cyber Attacks, and much more. But there is another dimension to this problem that is increasingly becoming more and more apparent – The Mental/Emotional Aspect. According to research conducted by Sekuro – An Australian Cyber Security Services Company, over 90% of professionals working in this space have experienced Mental Health Challenges in the last 2 years.

Covid19 and the subsequent global lockdowns saw a massive increase in ransomware and the near-continuous stress of cyber-attacks has created unrelenting pressure on those working in Cyber Security. We are approaching a point where ‘burnout’ levels in cyber security might actually exceed those among frontline healthcare workers.

But why is Cyber Security so intricately linked to Mental Health and why has the corporate world not fully woken up to this reality?

1. Cyber Security in 2022 is more about Human Behavior and Less about Technology

Cyber-attacks can be traced back to the 1960s and 70s when privacy and data were the principal targets. However, with the advancement of computer technology, cyber-attacks have also seen a proportionate advance. Modern Blockchain and AI-related threats have impacts that are both technological and psychological.

A study of the best cyber security applications worldwide reveals that most current threats are a product of sophisticated Social Engineering.

Social engineering is the term used for a broad range of malicious activities accomplished through human interactions. It uses psychological manipulation to trick users into making security mistakes or giving away sensitive information. Social engineering attacks happen in one or more steps.

A perpetrator first investigates the intended victim to gather necessary background information, such as potential points of entry and weak security protocols, needed to proceed with the attack. Then, the attacker moves to gain the victim’s trust and provide stimuli for subsequent actions that break security practices, such as revealing sensitive information or granting access to critical resources.

2. What makes Social Engineering so dangerous?

Social Engineering Attacks are so dangerous since they rely on human error rather than vulnerabilities in the OS or software. This makes them very difficult to stop as even for top-notch cyber security, mistakes made by legitimate users are less predictable than malware-based intrusions.

Organizations/groups/individuals perpetrating such attacks often possess exhaustive knowledge of human psychology and human behavior and are particularly quick to target any potential weaknesses and vulnerabilities. In fact, it is estimated that over 90% of successful breaches worldwide start with a phishing email.

3. What do we need to know about Cyber Attacks and Human Psychology?

All 5 most common forms of digital social engineering attacks are heavily influenced by human behavior.

A. Baiting: Enticing ads that lead to malicious sites or encourage users to download malware-infected applications.

B. Scareware: Potential victims bombarded with fictitious threats. Users are deceived to think their system is infected with malware, prompting them to install software that has no real benefit (other than for the perpetrator) or is malware itself.

C. Pretexting: The attacker obtains information through a series of cleverly crafted lies. The scam is often initiated by a perpetrator pretending to need sensitive information from a victim so as to perform a critical task. The process involves slowly building trust and can often go on for a long time.
D. Phishing: One of the most popular social engineering attack types. Phishing scams are email and text message campaigns aimed at creating a sense of urgency, curiosity, or fear in victims. It then prods them into revealing sensitive information, clicking on links to malicious websites, or opening attachments that contain malware.

E. Spear Phishing: A more elaborate and specific form of phishing, targeted at specific enterprises or individuals. The messages are “tailored” to the needs, and characteristics of the potential victim and the process can take weeks or even months.

4. Social Engineering and Mental Health

Researchers from the University of Greenwich have proven that under “normal circumstances”, an individual (even one not very well versed with cyber security) has a 70% chance of detecting a potential social engineering attack. However, even mild depression, stress, fatigue or anxiety can greatly lower this percentage. For instance: Even mild levels of stress can impact ‘neural correlates’ which in turn impact memory – causing an otherwise “careful” individual to have lapses in memory, click on unverified links or forget to check email origins.

5. Unique Mental/Emotional Challenges faced by those involved in Cyber Security:

Those actively involved in Cyber Security face certain unique challenges, when compared to almost any other area of work. These include:

Extremely high-stress environment
Perpetually changing landscape (There is never a status quo)
A constant need to update to the latest changes
Always on alert and surrounded by “high-risk” information at all times
Need to make decisions with limited (often unproven information)
Constant pressure with respect to limited time, resources, and team dynamics
Extremely high expectations as “first responders”.
Failure is inevitably associated with “feelings of extreme guilt”.
Very high costs/consequences of failure.
Very low levels of gratitude
24/7/365 expected commitment – zero “downtime”
Very high risk of “burnout”
Constant combat against “hackers” and “social engineers” leads to developing extreme cynicism towards humanity.
Emotional Detachment
Depersonalization

Why then do we continue to overlook the obvious connection between mental health and cyber security?

While today, a life without computers seems almost unimaginable, we must remember that this is a technological revolution that has taken place during our times. What this means is that for all of our efforts in maintaining cyber security, our physiologies are not designed to work in such an environment.

We also place too much faith in “purely technological solutions” or “zero trust” systems, while discounting the human element associated with these threats.

A good example of this was the recent pandemic when Covid induced lockdowns, uncertainty, anxiety and fatigue highlighted the link between mental well-being and cyber security like never before – The peak pandemic period saw a 300% increase in cyber-attacks worldwide.

The consequence of this was what we have come to expect – Resignations rise with Ransomware. As the link between the two becomes more and more unambiguous, it is time for the Corporate World to wake up to this threat that comes hand-in-hand with Cyber Attacks.

To know more about Cyber Security Services, reach out to us @ Triway and submit your query. Our team of highly skilled experts will help you with your Security needs

IT Agility in ERP and its impact on Business Outcomes

by Triway Technologies | Nov 28, 2022 | ERP, Software Services

What is ERP?

Enterprise Resource Planning or ERP was a term first coined in the 1990s and referred to a process that was designed to help mainly manufacturing companies handle their material requirements and manage more effectively, their demand and supply chains. In fact, the earliest ERPs were relatively simple software programs that were capable of integrating with other systems across different departments within an organization.

These systems began to increase in scope and complexity with the rapid growth of IT and Computer Technologies and gradually systems that were earlier thought capable of handling only back-office functions began to make their appearance in integrating front-office tasks as well. The 21st Century saw the unprecedented explosion of the Internet and ERP solutions saw a proportionate increase as well – to the point where today they form an indispensable part of an organization’s working structure – regardless of the size or domain of the said firm.

Modern ERP software is designed to fully automate the sharing of vital information across departments, avoid unnecessary duplication of data and provide data integrity in facilitating informed decision-making. This allows for a significant increase in productivity, organizational efficiency, and ROI.

The need for Agility:

The technology landscape is changing at an almost unimaginable pace. What was once “cutting-edge” is now outdated. Even advances made in IT and IT infrastructure at the start of the pandemic are now ‘par for the course’ and will soon become outdated. In such a scenario, businesses using ERP software and solutions to automate and manage their operations are perpetually vulnerable – unless the tools in question are adaptable and capable of quick, seamless and effective upgrades to match evolving market needs. For organizations that find themselves stuck with traditional ERP solutions, this is easier said than done. To achieve upgrades and system improvements, reconfiguration or complete replacement of the existing technology is often the only way of achieving IT agility in the ERP. Post the pandemic, this has become even more important as global markets are currently at their most volatile.

IT Agility in ERP Software:

Having an Agile Framework in your IT Infrastructure refers to the capacity of a software system to handle uncertainties. When an organization achieves IT agility in ERP, it is able to swiftly adapt to challenges and respond to opportunities. Traditional or ‘Legacy’ ERP systems have long since reached their peak maturity and organizations still reliant on them need to urgently replace them with systems more suited to modern technology.

What are the signs that your organization needs to make its ERP and IT more Agile?

1. High Operational Costs: The most important ‘tell-tale’ sign that your ERP solution might be outdated and obsolete is the very high costs of operations. Organizations that find themselves stuck with traditional software and ERP solutions, end up needing to hire a larger workforce than required – a process that inevitably drives up overhead costs.

2. The Software no longer satisfies its intended purpose: This is a stage that every small to medium firm goes through, as it expands its operations and business. The business management solutions that are in place are typically designed to match/satisfy the organization’s original needs and are not compatible with growth and changes. This is another reason why IT and ERP solutions need to be inherently agile.

3. Lack of Access to Critical Data and Insight: It is often said that in the modern world, Data is the ‘New Oil’. We live in a digital world as much as in a physical one and for an organization to survive and sustain itself, it is extremely vital that it has regular and unfiltered access to data and valuable business information. Only then can business decisions be sustainable and effective. If you find that there is a certain amount of constraint in this, understand that your IT infrastructure
and ERP needs to be urgently upgraded.

Benefits of ensuring IT Integration in your ERP Software:

1. Increasing Organizational Efficiency: The more an organization grows externally, the more its internal workflow grows. This is when the need for IT Integration starts to get felt. The primary function of any ERP system is to ensure the centralization of all work-related data – even if that data is from different departments. Once IT integration in ERP Software is ensured, systems can use advanced tools such as Data Analytics, Artificial Intelligence, Machine Learning, and Process Automation to dramatically increase operational efficiency. This also has the impact of greatly reducing Human Error, thus increasing Data Accuracy.

2. Increasing Employee Creativity and Innovation: An organization only grows if it has a highly motivated workforce that is capable of innovative thinking. This is where an Integrated ERP Solution is most useful, as it enables employees to focus on ‘Value Creation’ activities while taking care of tedious and repetitive tasks.

3. Match and surpass Customer Expectations: Thanks to Globalization and widespread Technology, markets have become hypercompetitive. Meeting and surpassing a customer’s expectations is today more difficult than it has ever been. With so many options to choose from, a customer is typically spoilt for choices. This is also why it is vital that an organization looking to succeed, cuts down its Order/Service Processing Time, to ensure repeat sales. This is where an Integrated and Agile ERP Software Solution can help as it automates your order management or service processing workflows, lets you complete multiple processes together, and improves internal communications while reducing redundant back-office administration tasks. This improves the overall business productivity and enables you to serve your customers better and improve sales.

Choose the best ERP Solutions for your Business: While there are several excellent Agile ERP solutions on offer, it is important that you choose the one that best echoes your business needs. At Triway Technologies, we provide Integrated and industry-ready Agile ERP solutions that are capable of integrating your business flow and managing market needs.

Top 5 reasons why Cloud Archiving can massively improve Personal Data Protection

by Triway Technologies | Nov 15, 2022 | Cloud Solutions, Data Backup, Security Solutions

Data Protection and Data Privacy are two of the biggest ‘hot button’ issues of the modern world and cloud computing and storage have been particularly helpful on both these fronts. Today, both as individuals and as organizations, massive amounts of sensitive personal information can be stored on the Cloud and accessed globally – at any given instance!

For even a medium scaled organization, there is a huge amount of highly sensitive data – that includes the personal and financial information of employees and customers that needs to be adequately stored and protected. Even the slightest lapse can lead to a catastrophic loss of confidence in the organization’s ability to safeguard the privacy and security of its stakeholders.

To make matters even harder, organizations are required by law to retain or store this information for a predefined amount of time – subsequent to any business transaction.

Until recently, the most favored method of securing this data was for the Organization to store it on a personalized and ‘on-premise’ server. While on paper this might suggest that an organization enjoys full control of its data, on-premise servers come with several drawbacks:

1. On-premise servers of any kind require a very substantial initial investment which very often smaller organizations struggle to put up. The expenses do not stop at this point though, as these servers are extremely expensive to operate and require a highly trained and ever-vigilant crew to run them.

2. The fact that on-premise solutions have to be developed specifically and uniquely for each organization, makes them drastically less scalable. Even after a server such as this is onboarded, the organization needs to spend an inordinate amount of time, attention, and money in making sure that it matches/fulfills its objectives. This ‘inflexibility’ also presents several hurdles when an organization is looking to grow or expand, as on-premise servers are often incompatible with distributed environments.

3. This also presents further challenges if an organization changes its IT infrastructure or Environment at any stage of its journey – something that most modern organizations are increasingly willing to undertake under ‘agile’ frameworks.

Enter Cloud Archiving Solutions

Just what is Cloud Archiving and how does it work?

Cloud Archiving Solutions help in long-term data retention and are especially effective when it comes to data that is infrequently accessed but which needs to be stored for regulatory compliance.

The effectiveness of these solutions is so visible that today an ever-increasing number of enterprises are moving their data onto a Cloud-based archive.

As any successful business owner would tell you, the benefits of this are several:

1. Cloud Archiving offers theoretically “unlimited” storage:

While there are several cloud-based archiving systems available, most of them offer potentially limitless storage capacities. What are more, organizations storing their data on a cloud-based archive, do not have to worry about equipment upgrades or any form of upkeep to their data centers. This proves to be very cost-effective in the long run. Cold Data is often stored on Public Cloud Archiving services such as Amazon S3 Glacier, Microsoft Azure Blob Storage, and Google Cloud Archive Storage, which store data for as little as less than a penny per gigabyte.

2. Cloud Archiving offers enormous flexibility:

One of the biggest advantages that a cloud-based archive offers are that the stored data can be accessed from any part of the world at any point in time. While it is true that bringing data down from the cloud can be sometimes a time-consuming and expensive process, most of the stored data is generally of the type that is rarely used.

3. Cloud Archiving provides a high degree of Data Security

A cloud-based archive solution provides several layers of security – designed to keep your data absolutely safe. One of the biggest challenges in securing data is that information needs to be secured on three fronts – Hardware, Software, and Encryption. This is also the reason why organizations that attempt to archive their sensitive data on in-premise servers very often struggle when it comes to data security, as securing all three fronts can be extremely expensive. Cloud-based solutions on the other hand provide ‘multi-layered’ security systems for all data stored on them.

To begin with, all of the data moving in and out of the cloud is managed using secure HTTPS protocols. In addition, most cloud-based providers add a second layer of protection, by encrypting all of the data stored on the cloud. The ‘icing on the cake’ is that customers of such services are given the option of either encrypting their data before uploading it to the cloud or alternately, adding a personalized encryption key to the data once it is uploaded.

4. Cloud-based archives can be a ‘life-saver’ during disasters:

One of the best features of a cloud-based storage solution is that any information stored on the cloud is automatically ‘backed up’ to the cloud’s main data center. This means even if your company’s main servers crash or fail, your data will remain safe and sound on the cloud – accessible to you from anywhere in the world.

5. Cloud Archiving allows for improved organization and cataloging of data:

Cloud-based archives were designed to help an organization meet its data regulations and as a result, they come equipped with several features including the ability to set data retention periods and the ability to track, categorize and report data usage.

Conclusion

We are now at a stage where the benefits of Cloud-Based Archiving solutions are undeniable and every year, an ever-increasing number of organizations move their data over to the cloud. With a plethora of vendors available who can all provide this form of service, it is important to choose one that best aligns with your business needs and objectives.

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