It seems that rarely a week goes by without the headlines revealing yet another data breach where millions of unsuspecting customers who patronize a well-respected company have had their personal information stolen by hackers. Corporations are forced to go on the offensive to minimize brand damage by offering free credit monitoring services to the impacted clients, in addition to reevaluating their data security measures. Terms like identity theft and the dark web are commonplace in this day and age, striking fear into the hearts of virtually everyone who participates in the financial system.
There’s no denying that technology has made our lives immensely more convenient. The flip side of that coin is the ease with which cybercriminals can leverage that same technology for their own nefarious purposes, causing the financial ruin of innumerable individuals and businesses alike. There are obviously safeguards in place, as anyone who has forgotten a password can attest to. What exactly are those safety devices that don’t seem to be entirely foolproof?
What the media doesn’t typically report are the millions of security threats that are detected and headed off every day. To protect their own sensitive information, as well as that of their customers, organizations operate on systems with firewalls. Essentially, these firewalls are computer software and hardware that’s installed to restrict unapproved access both into and out of the network. These programs can detect internal and external threats from malicious users.
There are various mechanisms that firewalls utilize to deter unauthorized connections, or they deploy a combination of the available options. The sophistication of the firewall is contingent upon the needs of the user, but the expectation is that companies who manage customer information in any fashion should take the highest precautions possible. Finance companies have to be especially vigilant, with the credit card and the already unorthodox payment processor companies implementing the more robust network security frameworks across the industry.
The most basic versions of firewalls entail filters or gateways that are designed to use minimal resources and allow for the speedy transfer of data. The downside of these firewalls is that they tend to be the least secure and aren’t recommended for high-risk enterprises. They typically only test parameters like source and destination with only a high-level examination of the information. Without opening the content, these firewalls are unable to detect malicious software like viruses.
Proxy firewalls are much slower and resource-intensive but achieve two key objectives that manage to head off threats. Inspection of the content is performed outside of the network, as the firewall connects directly with the data source or application that sent the information. Once authenticated, the data can pass through the barrier.
As long as technology continues to advance and hackers continue to look for a way to infiltrate the well-garrisoned servers of corporations and governments, there will be an ongoing need for next-generation firewalls to address the cracks that cybercriminals manage to detect. The next generation looks to build on the current technology and enhance it with an anti-virus component and other services that detect specific threats or can harness the cloud. Employee awareness is another essential component of the front-line defense, with training programs in place to instruct them in the dangers of phishing and vishing. Working together, leadership, employees, and IT professionals can help protect their customers and the brand from the predatory activities of the cybercriminal community.
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