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Cybersecurity Focus: How to Make Remote Work Safer

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Alex Vakulov


Telework is a long-running trend in the business world, and it has reached unprecedented heights because of the Coronavirus emergency. As a result, numerous companies have been forced to plunge headlong into implementing the remote work model, and predictably enough, this process is not always smooth.

One of the issues is that employees’ security is often sacrificed so that organizations can continue to operate as they did before the crisis. Unfortunately, this fact could not possibly stay beyond the cybercriminals’ spotlight.

As a result, malicious actors have focused on finding loopholes in the popular tools used for teleworking, such as conferencing software and Virtual Private Network solutions.

Malicious actors aim to snoop on sensitive communication or plague enterprise networks with spyware or ransomware. To further boost these efforts, they are also adjusting the themes of phishing attacks to employees’ fears and pain points arising out of infodemic and terrifying news like those coming from the fronts of the Russian-Ukrainian war.

Here is a roundup of cybercrime methods zeroing in on the remote work model and practical techniques for companies to steer clear of these attacks.

VPN security needs an overhaul

While working out of the office, employees should maintain a stable and secure connection with the company’s computer networks. VPN is a vital tool that bridges the gap between workers and hacker-proof online communication.

Unfortunately, with teleworkers increasingly relying on these tools to perform their duties, cybercriminals are busy exploring them for vulnerabilities.

Numerous security reports signal the escalating threat of VPN exploitation. Therefore, it is crucial to harden the security of the remote work model and implement VPNs wisely these days. Here are the significant risks in this regard:

  • Since VPN is one of the foundations of secure telework, hackers have ramped up their efforts to discover and exploit new weaknesses in these solutions.
  • Businesses use VPNs 24/7, so it can be problematic for them to keep up with all the updates that deliver the latest security patches and bug fixes.
  • Threat actors may increasingly execute spear phishing attacks (malwarefox dotcom spear phishing) that dupe teleworkers into giving away their authentication details.
  • Organizations that do not require their personnel to use multi-factor authentication for remote connections are more susceptible to phishing raids.
  • Trying to save money, some admins configure their systems to support a limited number of simultaneous VPN connections. As a result, information security teams may fail to perform their tasks when VPN services are unavailable due to network-wide congestion.

Essentially, adopting telework that relies on VPN technology leads to the fact that the average company’s security architecture often has a single point of failure. A malefactor who succeeds in hacking VPN connections can get an unnervingly broad scope of access to the target’s data assets.

Here is some extra food for thought. Some time ago, CISA alerted businesses to the massive exploitation of a nasty flaw in Pulse Secure VPN. This bug could launch remote code execution attacks targeting enterprise networks.

One of the reported incursion vectors involving this vulnerability was related to the distribution of the Sodinokibi ransomware virus, a strain that specifically homes in on corporate networks.

If the appropriate patch was not applied, this imperfection allowed malefactors to turn off MFA and access network logs that keep the cache of user credentials in plaintext.

In response to the looming menace, security experts recommend organizations focus on upping their VPN security practices to prevent the worst-case scenario.

Here are a few tips to help a company from being a moving target:

  • First, keep VPN tools and network infrastructure devices up to date. This recommendation also holds true for devices (company-issued or personal) that the employees use to connect to corporate resources remotely. Correct updates and patch management ensure the most current security configuration is in place.
  • Let your teams know about the expected rise in phishing attacks so that they exercise more caution with suspicious emails.
  • Ensure the cyber security team is prepared to tackle remote access exploitation scenarios through breach detection, log analysis, and incident response.
  • Use multi-factor authentication for all VPN connections. If, for some reason, this rule cannot be put into practice, ascertain that your staff members are using strong passwords to log in.
  • Inspect the corporate VPN services for capacity restrictions. Then, choose a reliable hosting service that can help leverage bandwidth limiting and ensure secure connections continuity when needed the most.
  • An additional precaution is to test the functionality of the VPN kill switch. This feature automatically terminates all web traffic if the secure connection is interrupted. This way, you can rest assured that the data doesn’t travel via the public Internet in an unencrypted form.

Conferencing software is low-hanging fruit.

Similarly to virtual private networks, tools that enable virtual meetings have recently extended their reach significantly. It comes as no surprise that cyber crooks have stepped up their repertoire in terms of discovering and exploiting weaknesses in popular conferencing products.

The consequences of such a hack can be devastating because it paves the way for eavesdropping on a large scale.

The U.S. National Institute of Standards and Technology (NIST) highlighted the risks stemming from the abuse of virtual meeting tools. According to the agency, although most of these solutions come with basic security mechanisms, these features may not be enough to fend off privacy encroachment.

Here is a roundup of recommendations in this context to stop hackers in their tracks:

  • Adhere to your company’s policies and guidelines addressing the security of virtual meetings.
  • Avoid reusing access codes for web meetings. If you share them with plenty of people, chances are that confidential data is leaked beyond the intended number of individuals.
  • If you plan to discuss a highly confidential subject, consider using one-time PINs or unique meeting identifier codes.
  • Make the most of the “waiting room” function that prevents a virtual meeting from starting until the conference host joins.
  • Tweak the settings, so the app triggers notifications when new people join the web meeting. If this option is missing, the host must request that all participants name themselves.
  • Leverage dashboard controls to keep abreast of the attendees during the conference.
  • Refrain from recording the virtual meeting. If you really need to do it for future reference, be sure to encrypt the file and specify a passphrase to decrypt it.
  • Minimize or ban the use of employee-owned devices for video conferencing.

Keep in mind that hackers are not the only ones who may wish to snoop on virtual meetings. Disgruntled employees or fired employees who still have access to the company’s digital infrastructure may also be lured to get hold of your proprietary data.

The bottom line

The global increase in remote work is a natural part of the business evolution. It is also an emergency response to new factors like COVID-19. But sadly, the “rough” implementation of telework in many organizations has become the weakest link in their security.

In addition to thwarting the above risks related to VPN tools and virtual meetings, organizations should rethink and bolster their anti-phishing practices to dodge scams that rely on trendy news topics. Your personnel should be skeptical about suspicious messages and think twice before clicking on any links in them.

Remote work security is now more critical than ever before. This needs to change if it is not your organization’s top priority.

Featured Image Credit: Photo by Thirdman; Pexels; Thank you!

Alex Vakulov

Alex Vakulov is a cybersecurity researcher with over 20 years of experience in malware analysis. Alex has strong malware removal skills. He is writing for numerous tech-related publications sharing his security experience.

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Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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