By Assaf Litai, Co-Founder and CTO of Actifile
The recent cyberattack on MGM Resorts brings to the forefront an uncomfortable truth: no matter how large or established an organization is, it remains vulnerable to cyber threats.
Furthermore – even enterprises with the best cyber technology, and seemingly endless amounts of cash thrown at keeping the bad guys out – the risk is not negligible – and the bad guys do find their way to the data.
With one of the world’s largest casino-hotel chains effectively paralyzed for over 60 hours, millions of dollars in revenue were lost, and the company’s reputation has taken a significant hit.
This incident isn’t just about MGM, but a warning for businesses, both large and small, about the need to prioritize cybersecurity in general and specifically – protecting data.
The nature of the breach, initiated through a simple social engineering tactic on LinkedIn, underscores the fact that even the most fortified of infrastructures can be vulnerable at their weakest link – in this case, an unsuspecting employee.
But what if I told you that there was a way to significantly mitigate these threats?
At Actifile, we’ve been vocal about the need for a shift in perspective when it comes to data security. Traditional data security methods are reactive. They rely on identifying and responding to threats while or after they’ve occurred. But by then, the damage is done, as MGM and its patrons have painfully learned.
Preemptive Data Security
Legacy Data Loss Prevention (DLP) systems depend on an event-driven approach. They wait for a breach or irregular event to occur and then respond. Actifile, on the other hand, employs a preemptive data security model. Instead of waiting for threats, we proactively identify and encrypt sensitive data. Our automated real-time monitoring tracks activities like file downloads, modifications, and third-party use. Anomalies are detected instantly, alerting administrators to potential risks.
Democratizing Data Security
Our platform is designed with a user-friendly interface, ensuring that IT administrators, irrespective of their experience level, can effectively monitor and secure data. Given the MGM breach’s origins on LinkedIn, a platform used by employees across hierarchies, it’s clear that threats can come from unexpected quarters. A solution like Actifile democratizes the defense against such threats.
Automating Response and Forensics
Imagine if MGM had the capability to immediately identify anomalous behavior and take swift corrective action. With Actifile’s digital forensics, businesses can automate the monitoring of activities and detect anomalies in real-time. Moreover, post-breach incident response is significantly streamlined, saving invaluable time and money.
Eliminating Human Error
The MGM attack was enabled by human oversight. Actifile offers a proactive solution that targets human error, encrypting sensitive data in advance. It’s a necessary step in an era where remote work and digital interactions are the norm.
Data Privacy and Compliance
Beyond the immediate financial impact, breaches like the one MGM experienced pose significant legal and compliance risks. With stringent data protection regulations like GDPR, CCPA, and HIPAA, businesses must not only ensure their systems are secure but also compliant. Actifile helps businesses navigate this intricate landscape, safeguarding data and ensuring compliance.
In conclusion, the MGM breach serves as a harsh reminder of the vulnerabilities in traditional data security systems. As we move further into the digital age, the onus is on businesses to protect their data proactively, ensuring they are not just compliant but ahead of potential threats. Actifile’s solution provides a roadmap to this future, where preemptive, comprehensive, and autonomous data security becomes the norm. In a world where attacks like the one on MGM have become increasingly sophisticated, the call for proactive defense has never been louder.