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The technology industry is one of the areas where specialists are taking the most advanced security measures against data breaches. The reason for this is the high value of the information stored as an integral part of the industry activities. However, the structure of the industry is directly related to the digital world. Therefore, large-scale information about cyber threats is accumulated, and cybersecurity competency among the specialists is advancing effectively.

Technology companies and their digital systems are the focus of cyber threats due to the valuable data they store. Storage of highly valuable data can create a major risk to the organization in case of a cyber-attack. 95 percent of data breaches originated from the public, retail, and tech industries in 2016. The majority of data breaches leading to the confiscation of sensitive information held by technology companies. This article focuses on the technology industry, the recent cyber attacks, and the methods of protection.

Major data breaches can cause major costs

Factors such as lack of cybersecurity awareness, and neglecting cybersecurity can leave technology companies vulnerable to risks. Another example of these factors can be the widespread use of new applications and new devices that were launched recently. Although new software is often tested at many points, it may not have sufficient defenses against cyber threats.

Companies can be open to platforms and structures to support creativity. This situation can lead to vulnerabilities in the company’s systems. Also, digital units affiliated with governments and institutions also can be vulnerable to cyber attacks. This can create not only large-scale financial costs but also large-scale data leaks which may cause political issues. Some cases that can be shown as an example in the world recently are listed below:

• A Chinese hacking group breached several German technology firms. According to the German government, the attack was primarily an attempt to steal intellectual property. (January 2022)
• Chinese hackers breached four more U.S. defense and technology firms in December, in addition to one organization in November. The hackers obtained passwords to gain access to the organizations’ systems and looked to intercept sensitive communications (December 2021).
• A group with ties to Iran attempted to hack over 250 Office 365 accounts. All the targeted accounts were either U.S. and Israeli defense technology companies. The companies had a focus on Persian Gulf ports of entry, or maritime transportation companies with a presence in the Middle East. (October 2021).

Types of data breaches and prevention methods

Data breach happens through the export of confidential data as a result of a cyber attack. The main techniques are listed as Ransomware, Malware, and Phishing. It was predicted that global cybersecurity spending would exceed $1 trillion cumulatively between 2017 to 2021. To protect against a data breach, you can:

• Check that your device software and operating systems are up-to-date.
• Use an internet security suite to monitor your network for any vulnerabilities.
• Keep up with the latest cyber threat information to avoid risks of ransomware and phishing attacks.
• Take action against vulnerabilities with a bug bounty program.

BugBounter provides effective solutions for data breaches to technology industry

Due to the threats the technology industry faces, and the spread of digitalization worldwide, taking security steps against cyber attacks is highly crucial for every tech company. Predictions for this area suggest that cyber risks will continue to grow, but the available safety solutions are also varied. The most effective option available in this regard is the bug bounty program.

You can obtain the adaptable cybersecurity testing support you need with BugBounter’s optimal costs. Your systems are thoroughly examined 24/7 for significant risks by actively involving the appropriate number of professionals from our network of more than 2200 white hat hackers. With “black-box testing“, our specialists attempt to break into your systems without the need for special access by tools and methods that are akin to those used by malicious hackers. When our white hat hackers detect a vulnerability in your systems, they submit it step-by-step with evidence thus, after being prioritized, you get a legitimate bug report. This gives your teams the time and resources they need to concentrate on the proper priorities while efficiently managing your security testing budget. This gives your teams the time and resources they need to concentrate on the proper priorities while efficiently managing your security testing budget.

You can now get in touch with BugBounter to detect the vulnerabilities in your systems and start fixing them to avoid data breaches and major costs that would be caused by those.

“Why would you invest in cybersecurity?”

It’s a question that business leaders are no doubt asking themselves in the wake of high-profile, large-scale cyber attacks. In the aftermath of such an attack, businesses need to ask themselves not only how they can protect themselves from future breaches but also whether it’s worth investing in cybersecurity in the first place.

Cybersecurity has rapidly evolved from an IT issue to a business issue. With so many technological advances over the last decade, the business world has upgraded data repositories by storing sensitive information on the cloud. Therefore, investing in cyber security is not just an option but is an essential activity for businesses as it protects businesses from a broad range of safety hazards such as malware, spyware, and adware.

The blog will help you understand how to invest in cybersecurity and why investing in cybersecurity is critical for your firm.

Why Is Cybersecurity Crucial For Today’s Business World?

If you are a business still having the question, ‘Should I invest in cybersecurity?’, the answer is definitely yes. Businesses cannot anymore rely on basic security features like anti-virus or firewalls to safeguard themselves from the looming threat posed by cyber criminal activities. These types of cyber crimes and malicious hackers who commit them are getting smarter and more adept at evading these simple defensive lines. Businesses should collaborate with a cyber security firm to develop a cyber security strategy that can offer multilayered protection. It is crucial to keep in mind that it is not only companies in highly regulated industries such as IT or finance that need to take cybercrime more seriously. Every business, regardless of size or type, should set priorities for executing a cyber security program in their organization.

Safeguard your systems and networks

Cybersecurity is the practice of protecting electronic information from unauthorized access or theft. It includes both hardware and software solutions, as well as security measures like firewalls and multi-factor authentication. By implementing these measures, businesses can help to protect their confidential data from cyber criminals. In addition, cybersecurity can also help to prevent disruptions to critical infrastructure, such as power grids or transportation systems.

Increase customer trust and confidence

The threat of data breaches and cyber attacks has led many companies to invest in cybersecurity measures to protect their customer’s information. While these measures can help to deter hackers, they also serve to increase customer trust and confidence. By demonstrating that a company is taking steps to protect its customers’ data with robust cybersecurity strategies such as pentesting with bug bounty, businesses can instill confidence that their personal information will be safe. In turn, this can lead to increased customer loyalty and repeat business.

Ensure Cybersecurity Awareness and Efficient Cybersecurity Measures

The protection of the organization’s data is critical. It is to be noted that this information is vulnerable to attack, either through an employee accepting money in return for revealing confidential data or external cyberattacks, so it is critical to be prepared. Penetration testing is a non-invasive method of identifying potential security gaps before a cyberattack.

How Can An Investor Contribute To Both Themselves And The Business World By Investing In Cybersecurity?

By investing in cybersecurity, investors can not only improve their own financial security but also help to make the business world a safer place. In recent years, cyberattacks have become an increasingly common occurrence, with major corporations and small businesses alike falling victim to data breaches and other forms of cybercrime. The financial cost of these attacks can be significant, and they often have a profound impact on the reputation of the businesses involved. By investing in cybersecurity, investors can help to mitigate the risk of these attacks and protect the businesses they are invested in. In addition, by supporting businesses that are committed to cybersecurity, investors can help to create a market for these products and services. Ultimately, by investing in cybersecurity, investors can help to create a safer and more secure business world.

Investing in cybersecurity is essential due to the rise of security breaches, and current stats show that cyber-attacks cost $400 billion in 2020. If you are a company in a growth phase, this is an excellent time to increase your investment in cybersecurity. As a result, many businesses now consider cybersecurity an essential component of their investor protection strategy.

The majority of cyber attacks lead to financial losses. Investing in cybersecurity and why investors contribute to both themselves and the business are listed below:

• Preventing Corporate Information Leakage
• Preventing Financial Information Leakage
• Prevent Trading disruptions, such as the inability to conduct online transactions
• Businesses dealing with cyber-attacks incur additional costs associated with fixing the systems; however, you can avoid costs that were affected in addition to the devices and networks.

Cybersecurity Can Assist Your Company’s Growth

Many businesses believe they cannot afford to spend additional funds on security, preferring to invest in employing more staff, expanding the business, or pursuing other prospects. Infamous security breaches have compromised the data of millions of users, causing a loss of public trust, a drop in stock prices, and a dip in profit as well as brand reputation. Fortunately, you could indeed safeguard your business from similar attacks by focusing on improving cybersecurity and proper implementation of mechanisms.

Combining IT support and cybersecurity

The number of cybersecurity incidents are increasing day by day, and no organization is immune to these cybersecurity incidents. By combining IT support and cybersecurity, you can create a robust defense against these threats. In addition, you will also be better able to manage and respond to incidents should they occur. Finally, by integrating these two functions, you can create a more efficient and effective organization overall. When it comes to safeguarding your data and systems, there is simply no substitute for a well-rounded approach. IT support and cybersecurity are two essential pieces of the puzzle.

Benefits of combining IT support and cybersecurity are as follows:

1. You can implement remote working employee protection by securing sensitive information and removing the risk of them becoming vulnerable to spyware, keyloggers, and phishing attempts.

2. You can increase productivity by lowering the possibility of a cyber attack and potential work stagnation. Employees’ knowledge of cybersecurity improves when they receive appropriate cybersecurity training.

3. Customers’ trust and confidence in your company grow as they learn that you are acting to protect their sensitive data. When they do business with you, they feel safe.

4. You increase your revenue. Money invested in cybersecurity, cybersecurity tools, and IT infrastructure will pay massive dividends in the long run. You help stop cyber threats and avoid paying claims.

And The Most Important Question Is, Why Would An Investor Invest In BugBounter?

Protecting a company’s data from cyberattacks is highly expensive and can damage the company’s relationship with its clients. Business owners will need to stay one step ahead of cybercrime as it becomes more of a risk once the organizational data is hacked or lost. In order to ensure that your company network is not susceptible to a cyber attack, it is crucial to put money into a cybersecurity program.

Organizations face a growing cybersecurity threat landscape. In response, they are turning to security solutions that can help them identify and mitigate risks. BugBounter is one such solution. BugBounter provides a centralized platform for organizations to track, manage, and resolve security issues. The platform aggregates data from multiple sources and then analyzes them to identify trends and patterns. As a result, organizations can use BugBounter to gain insights into their cybersecurity posture and identify areas of improvement. In addition, the platform can help organizations streamline their security operations and reduce the costs associated with cybersecurity breaches.

BugBounter assists organizations in identifying vulnerabilities that go unnoticed. Bug bounty is one of the best cybersecurity companies to invest in, with 24/7 availability, scoping flexibility, and cost-effective bug bounty services with 2200 cybersecurity experts at your disposal as and when necessary with a guaranteed ROI, as no fees are allocated unless a valid bug is reported.Contact us right away to get the best cybersecurity protection!

On July 28th, BugBounter hosted a webinar on the future of cybersecurity testing in South Africa with Michiel Jonker, Futurist, and Director of Futura International. Sustainable cyber security risk management is a necessity for businesses as they advance further with their innovations and adopt technological developments. Simplified cybersecurity measures can reduce the existing complexity in processes and drive growth along with cost-effectiveness. Whether it is data privacy or cyber security, the idea of designing the practices stems from the way humans think.

Machines are one of the most critical inventions of humans. Whatever measures are taken in the direction of protecting the data from damage solely rests on the owner’s shoulders. Read this article to see what was discussed at the webinar event.

Groupthink: How Does It Impact Cybersecurity Measures?

While resolving an issue or introducing new reforms, businesses tend to pool their resources and skills. Ideas may be welcome from everywhere and have the potential to help enterprises implement possible systems. This helps them serve their customers and build a strong workforce. However, when it comes to cybersecurity, conventional ideas may not work in the longer term. Additionally, the same strategy may not work when a new application or software is introduced. For instance, hardware and software firewalls used authentication and security policies. Such firewalls were replaced by cloud-hosted firewalls.

Such innovations require experts to brainstorm ideas by thinking from different perspectives. Thinking outside the box should not mean you entirely agree or disagree with other perspectives. Exploring new ideas and setting down the path of unchartered territories will give birth to the spark that may pave the way for a cybersecurity measure never thought of before.

Increased Complexity

With more security policies introduced by the government in many countries, the growth of organizations combined with security practices has become increasingly complex. Every new policy is another step to combat any adverse security issue of the future and for the benefit of the organizations. However, enterprises need to shift their gears and be compliant with government systems every time a policy is introduced or whenever a complex system is in play. Current best practices do not define the future security requirements as more frameworks and controls are being introduced from time to time.

Computer systems or designs that are built today are integrated by keeping their functionality as the major criterion. When you think of sustainable growth and development, maintenance of such systems is also a factor that shouldn’t be overlooked. If the complexity in security is not isolated and addressed appropriately, it can lead to more expenditure and many impending damages, even to the extent of the collapse of IT systems.

Interconnected systems are people hooked up to the internet and with more people networking with each other, the number of firewalls installed cannot go unnoticed. This is all the more critical when you have no control over the people outside your organization who need not follow your security reform. In such a scenario, you will have to think with a broader mindset in imposing restrictions on what people can access and what they cannot. These regulations should be taken seriously at regular intervals and not only when an issue arises, such as the cyber attack of a hacker on your organization. Cybersecurity experts or a company that takes your security should be consulted, to take precautionary steps.

Preventive Controls From a Business Perspective

Assumptions do not work well while you are implementing security measures. Predicting a hacker‘s behavior or how he detects a bug to tamper with the organization’s critical data is not easy. Adopting a forward-thinking process helps you to approach the issue differently and diversely for the prevention of cyber attacks.

Cybersecurity measures can be based either on the assumption of success or the assumption of failure. A cyber security measure factoring in only failure may urge organizations to implement detective controls more than preventive controls and correct them. The ultimate aim of security programs or companies is to introduce detection and correction measures that carry less cost with enhanced security.

One point the cybersecurity experts and government compliance and risk management experts commonly agree on is that cost reduction is a must when it comes to designing a new security feature.

Cybersecurity Testing: A Gateway Of The Future IT Systems

Businesses should adopt cybersecurity practices that focus on stabilizing innovation to grow sustainably. While leaving traditional approaches and embracing automation, cybersecurity solutions should be streamlined in parallel. Cybersecurity is another aspect apart from cybersecurity testing that mitigates risks and enhances IT processes. 

The future of cybersecurity testing in South Africa looks bright. With the continued growth of the internet and online services, the need for cybersecurity testing will only grow. South Africa has many advantages that make it well-suited for providing cybersecurity testing services. First, the country has a strong base of IT professionals with a wide range of skills and experience. Second, South Africa has a large number of universities and other educational institutions that offer courses in computer science and information security. Finally, South Africa is home to several companies that are leaders in the field of cybersecurity. These factors all contribute to making South Africa an attractive destination for cybersecurity testing.

Smart Solution for Cybersecurity Testing: BugBounter

BugBounter offers scalable solutions to businesses to enforce high security in their systems and protect their data from harmful threats. BugBounter provides 24/7 availability, scoping flexibility, and cost-effective manual penetration testing services with 2200 cybersecurity experts. One major advantage of signing up with BugBounter is that they don’t charge their clients unless there is a valid bug report coming from the cybersecurity experts.

Organizations that deal with multiple tasks every day can take their extra load off their shoulders by outsourcing cybersecurity programs with BugBounter. From creating bug bounty programs, restraining attacks from malicious hackers or organizations to creating a secure ecosystem is their forte. By identifying possible bugs or damages beforehand, BugBounter helps organizations to grow steadily and achieve better ROIs with shorter runtimes. It also helps overcome vulnerabilities by assigning experts immediately to any kind of security requirement from the client. Connect with BugBounter to get your systems tested today!

If you also would like to watch the video of this webinar you can click here. You can also check our YouTube Channel for the previous webinars. Subscribe to our YouTube Channel and don’t miss the forthcoming BugBounter webinar videos.

As the BugBounter Team, we’re working hard to make our informing content accessible at all times. You can listen to this webinar on Spotify. Click here to listen to this webinar on Spotify.

The digital world keeps evolving every day, which makes it even more complicated to understand its processes through every step of its transformation. So, with this rapid growth in the picture, one can witness the rise of cyberattacks on digital platforms. Even businesses with advanced preventive and security measures are susceptible, as seen by the rapid technological advancement of cyberattacks. To keep all of these at bay with proper protection, one needs to have a cybersecurity team backing them up. Asking the right questions will help you identify your company’s most vulnerable areas and put together a plan to protect them. With the right precautions in place, you can minimize the chances of a costly and damaging breach.

The Importance of Cybersecurity

Cybersecurity is a cross-functional solution directed at the digital organization and necessitates executive and board-level oversight to strengthen the system. The solution also necessitates the participation of essential departments, particularly finance and corporate risk management (ERM). A company’s Chief Financial Officers (CFOs) should ensure that this issue is not reduced to rote quarterly reporting by the IT team because most CFOs oversee ERM process owners daily.

Cybersecurity in the world of FinTech

In recent years, FinTech companies including finance and banking have become increasingly popular, as they provide innovative solutions to common financial problems. However, these companies are also attractive targets for cybercriminals, as they often hold large amounts of data. As a result, cybersecurity is a serious concern for FinTech companies. There are several steps that these companies can take to protect themselves, such as encrypting data and implementing strict access control measures. In addition, FinTech companies should also have comprehensive disaster recovery plans in place in case of a successful attack. By taking these precautions, FinTech companies ensure that critical assets are secure from cybercriminals.

Essential Questions To Be Asked By The CFOs

The CFOs must be updated on their company’s security concerns. Chief information security officers (CISOs) and other safety professionals at the forefront of IT must be consulted to achieve this since they are the most informed individuals inside the company. The three critical questions that every CFO must ask and know the answers are as follows.

“How Safe Is The Organization’s Cyber System?“

As the CFO of a FinTech organization, the priority should be the safety of your company’s cyber system. In today’s increasingly connected world, data breaches are becoming more and more common, and fintech companies are often targeted by hackers. Ideally, it is vital to ensure that your company’s cyber security is up to par. There are a few key questions you should ask to assess the safety of your system:

• How easy would it be for a hacker to penetrate your system?
• What kind of damage could they do?
• Are there any weak points in your system that could be exploited?

By asking these questions, you can get a better understanding of the risks your company faces and take steps to mitigate them. In doing so, your company’s data remains safe and secure.

Organizations may assess their degree of potential threat using several concrete criteria. It is necessary to be aware of the number of intrusions or assaults the company has been subjected to. Many organizations fail to see the more minor risks their companies are open to and only concentrate on the more significant attacks. This can cause severe damage to the company as they move forward with its business. Therefore, the CFOs should consult with cybersecurity experts and work their way into protecting the system.

“What Are The Security Risks Prevailing in the Industry?“

As a CFO of a FinTech company, it is essential to be up-to-date on the latest security risks in the industry. Unfortunately, the ever-changing landscape of financial technology makes it difficult to keep track of all potential threats. However, by asking the question “What are the security risks prevailing in the FinTech industry?”, you can stay one step ahead of the criminals. Some of the most common risks include data breaches, phishing scams, and malware attacks. By understanding these risks and taking steps to prevent them, you can help keep your company’s data safe and secure. In addition, it is also important to educate your employees about these risks and encourage them to report any suspicious activity. With these security measures, you can help protect your company from the ever-present threat of security breaches.

The CFOs should know the latest attack methods against all industries, specifically those directed toward their industry. They should streamline the possible attacks and place a security system that can withstand them even before the attack is posed on the organization. It would be better to be cautious beforehand rather than wait until everything is down the drain. So, the CFOs should constantly keep in touch with the cybersecurity experts and seamlessly protect the company from external attackers.

“What Would Be The Effect Of Not Having A Cyber Control In The Organization?“

In today’s digital age, data breaches and cyber-attacks are too common. Without adequate cyber controls in place, your organization is at risk of suffering serious consequences. A data breach could result in the loss of sensitive customer information, which could damage your reputation and cost you dearly in terms of both money and customers. A cyber-attack could cripple your operations and put you out of business entirely. The stakes are simply too high to ignore the importance of cyber security.

The biggest hassle with cybersecurity in fintech is the return on investment (ROI). Measuring it can be tricky as the return is the possible return that manifests as something not occurring, like a cyber-attack. Nevertheless, it stands to reason for CFOs to question cybersecurity experts about the probability of a particular assault happening, the amount it may incur for the company, and the risks of not having one. Once you have a clear grasp of the finances and budgeting around the cybersecurity systems, you can be sure about how to handle the situation during the crisis of cyber attacks.

BugBounter – The Ideal Cybersecurity Expert

BugBounter can be your perfect solution provider, who can help you discover the vulnerabilities in your systems. Moreover, the bug bounty swoops to find potential threats and stands as a wall of protection for the organization so they can function seamlessly. With our more than 2700 cybersecurity experts, you would always be one step ahead whenever there is one storming at your organization. Connect with BugBounter to get your systems tested by our cybersecurity experts today.

Moving into the second half of the year, one must keep a constant eye on the recent hacking news. This past July 2022 was an interesting month in the world of cybersecurity. A few mentionable events occurred that business leaders should be aware of. Here’s what happened.

July was a busy month for cyber security professionals, with several high-profile incidents making headlines. Read Bugbounter’s recap of July 2022 cybersecurity highlights to know more about the latest hack news.

T-Mobile to pay $350 mn in a data breach affecting 77 million users

T-Mobile has agreed to pay $350 million to federal and state regulators following an investigation into a data breach that affected nearly three-quarters of its customers. The mobile carrier admitted that it had failed to adequately protect the personal data of its users, including names, addresses, and birthdates. Hackers accessed this information by taking advantage of the vulnerabilities in T-Mobile’s website. The company has since taken steps to improve its security, but the incident highlights the importance of data security for all businesses. This case also serves as a reminder that consumers need to be vigilant about their own data safety, as well.

Several Android Apps on Google Play Store Caught Dropping Banking Malware

The malware, known as Anubis, is designed to steal users’ financial information and login credentials. Once installed, the Anubis malware will display fake login screens for popular banking and financial apps. When victims enter their financial information into these fake login screens, the Anubis malware will send the data to a remote server. The attackers behind the Anubis malware can then use this information to commit fraud and steal money from victims’ bank accounts. This malware is designed to steal personal and financial information from users, including login credentials and credit card numbers. In some cases, the infected apps also created vulnerabilities by gaining access to users’ contacts, text messages, and location data.

Spanish Police Arrest Two Nuclear Power Workers for Cyber Attacking the Radiation Alert System

The Spanish National Police have announced the arrest of two workers at the country’s nuclear power plants for allegedly carrying out cyberattacks on the radiation alert system. The arrests came after an investigation when authorities discovered that someone had tried to disable the alert system several times. The two suspects, who have not been identified, are thought to have used their positions at the plants to gain access to the alert system and carry out the attacks. The arrests come as Spain prepares to close its last nuclear power plant in 2025 and shift to renewable energy sources.

Google Delays Blocking 3rd-Party Cookies in Chrome Browser Until 2024

Google announced that it is delaying blocking third-party cookies in its Chrome browser until 2024. The plan was to phase out the use of cookies by 2022. However, it said it needs more time to develop alternatives that will “advance privacy and security for users” while supporting publishers and advertisers. Cookies are used to track the visitor’s behavior and serve targeted ads. Google’s proposed solution, dubbed the Privacy Sandbox, is designed to allow publishers and advertisers to continue using cookies while protecting user privacy. However, the company has faced criticism from some who argue that the solution does not go far enough in protecting users’ data.

The U.S. Offers $10 Million Reward for Information on North Korean Hackers

The United States Department of State has announced a $10 million reward for information regarding the identification or location of any individual who works with or for the North Korean government for global cybercrime. North Korea has recently been implicated in several high-profile cyber attacks, including the Sony Pictures hack, the WannaCry ransomware attack, and the 2014 hack of JPMorgan Chase. The State Department hopes the reward will encourage anyone with information about North Korean hackers to come forward. The information they provide could help to prevent future attacks and put the guilty behind bars.

Hackers Increasingly Using WebAssembly Coded Cryptominers to Evade Detection

Cryptocurrency mining malware is on the rise, and hackers are increasingly turning to WebAssembly as a way to evade detection. WebAssembly is a compact bytecode format designed for safe execution in web browsers. However, it can also be used to execute malicious code, and cryptocurrency miners are a prime target for attackers. Cryptocurrency miners generate new coins, which can be very profitable for attackers. However, they consume excessive resources, slowing down or even crashing a victim’s computer. By coding their miners using WebAssembly, hackers can ensure that their miners run efficiently and avoid detection. Unfortunately, this trend will likely continue as cryptocurrency prices rise. As a result, users must be vigilant about malicious activity on their computers and ensure that their security software is up-to-date.

The Twitter Accounts of Major Corporations and Celebrities were Hacked in a Synchronized Attack

In what appears to be a coordinated attack, the Twitter accounts of several major corporations and celebrities were hacked in July 2022. The compromised accounts have all posted tweets containing profanity, and the attacks seem to have originated from a third-party website that provides services for managing Twitter accounts. However, Twitter is currently investigating the matter and has taken steps to secure all affected accounts. This incident highlights the importance of proper security measures for all online accounts, especially those with many followers.

Bug Bounty Programs to Stay Safe and Secure

Organizations of all sizes face an increasing number of cyber security threats. Bugbounter offers a comprehensive suite of services assisting organizations safeguard their data and systems. Our team of 2000+ cybersecurity experts provides cost-effective manual penetration testing services. They are available 24/7 to conduct penetration tests and provide guidance on mitigating risks. We offer scoping flexibility to ensure that our services meet each organization’s unique needs, and our prices are highly competitive. Connect with us to know more about how we can help you secure your data and systems. Increase security and discover vulnerabilities by going beyond traditional assessments.

Decision-making processes are integral to how humans cope with many situations and make their lives balanced. Humans make thousands of choices every day through general information or by assessing alternative resolutions for the same scenario. Each decision helps shape humans’ cognitive response toward a problem by rationalizing it and identifying the right actions to follow. It helps humans focus on the task and distribute the amount of attention. In short, decision-making saves a lot of time and energy by rationalizing and creating shortcuts.

Some decisions can be based on biases that can neither be deemed excellent nor illogical. Biases are based on prejudices that can be positive and helpful in some cases. However, sometimes it can hinder us from growing or making the best decisions. For instance, someone believing in expediency bias tends to make decisions quickly. Such biases can be lifesaving in times of danger if someone comes to attack or if an accident occurs. But in instances such as making investments for business or crossing a road, this bias can bring more harm than good.

Prejudice is a problem that plagues many industries and professions, and cybersecurity is no exception. That’s why it’s best to use the seeds model in cybersecurity practices to mitigate the risks due to decisions taken with unconscious bias. The seeds framework has proved effective in making decisions while defining cyber security practices.

In this article, you will learn more about five significant categories of bias.

Understanding The Seeds Model for Creating Better

Cybersecurity Environment

The seeds model filters down five fundamental biases that form the foundation for all other biases. The seeds framework is especially essential when devising new and improved ways to manage software systems, create testing methods, and design new applications. Let us take a closer look at the biases that drive most of our cognitive ability for decision-making and their impacts.

1. Similarity bias: Choosing what is similar over what is different

Similarity biases impact decisions that correspond to people with identical goals or emotions. People tend to be biased to like others who think like them or have the same ideologies. For example, organizations apply such biases when they are making decisions about hiring, promoting, or assigning a project to someone. They may have a predefined idea of how an individual should perform, which can showcase highly motivated ones in the limelight. There may be talented individuals who have not been exposed to more experiences and might take time to bring their full potential to the table. Overcoming a similarity bias means being open-minded and welcoming different points of view and multiple realities.

In cybersecurity practices, similarity bias explains why people always think about the same solutions against different cybersecurity issues—for example, creating the same passwords because it is easier to remember and use them everywhere.

2. Expedience bias: Choosing to act quickly rather than delay it

There are things humans know for sure or have a gut feeling about. Some decisions may be instinctively taken, while others may be based on facts and past experiences. While quick decisions may save us from impending danger, one disadvantage of this bias is the tendency to rush to a conclusion without fully considering all the sides of an issue. It’s simply part of human nature to want to take the quickest and easiest route possible. Oftentimes, this doesn’t become an issue. However, when it comes to cybersecurity, this bias can have dire consequences.

To make it more concrete, let’s say you receive an e-mail from an unknown sender. The e-mail looks completely legitimate, and even contains what appears to be sensitive information. Your first instinct is to open it, but something tells you that you should probably exercise caution. However, your bias towards expedience gets the better of you and you click on the attachment anyways. Unfortunately, doing so releases malware onto your computer, which could lead to all sorts of problems down the road.

3. Experience bias: Choosing gathered information from the past to be the objective truth

Different people have different perspectives, journeys and naturally, one’s reality may not hold for others. Experience biases occur when one’s assumptions or preconceived notions dictate their point of view in solving a given problem or a situation. To escape the bias, people need to be exposed to new situations and experiences, intake others’ perspectives and reframe their mindset.

Experience bias makes one think that what once worked in the past can also work in the future. In today’s evolving world, the needs and security landscape change constantly. A strong security measure may not be the best approach for a new application or system built in the modern day. For example, a cybersecurity analyst who has been working in the field for five years is likely to have a very different view of the threat landscape than someone who is just starting out.

4. Distance bias: Choosing what is closer than what is distant

Distance bias is a cognitive bias that refers to the tendency to favor things that are physically closer to us. This bias manifest itself through various methods from the decisions we make about where to live and work to the products we purchase. The distance bias is often explained by our limited cognitive resources: it takes more effort to think about things that are far away, so we tend to default to what is closest. Overdependence on immediate outcomes is often less beneficial in the long-term.

Cybersecurity can seem like a far-off problem, something that happens to other people or businesses. Unfortunately, reality states that it could happen to anyone, anytime. This type of bias can lead to decision-makers feeling like they don’t need to invest in cybersecurity as soon as possible because it’s not perceived as an immediate threat. But by not taking steps to protect themselves, they’re leaving themselves vulnerable to attack. Cybercrime is a real and growing threat, and it’s one that all businesses have to take seriously.

5. Safety bias: Choosing security over seeking out to achieve

Safety bias is a natural human tendency to avoid danger. One typical instance is when people prefer saving money over investing to avoid loss. According to them, bad has more impact than good. This bias can be observed on financial, investment, or even cyber security decisions. A CEO, for example, might be unable to let go of a business unit that is not making profit simply because of resources already invested.

In the context of cybersecurity, this can mean prioritizing the protection of existing systems and data over the exploration of new technologies or the development of innovative solutions. While there is certainly value in focused defense, safety bias can limit an organization’s ability to adapt and grow in the face of ever-changing threats.

Safety biases make one slow down and hold back from making healthy decisions. One form of preventing safety prejudice in cyber security practice by organizations is investing in bug bounty programs against hackers who attack credential data and cause harm.

Smart Cyber Security Solutions: BugBounter

Businesses need to strike a balance between security and innovation in order to stay ahead of the curve. By encouraging creativity and embracing new ideas, businesses can ensure that their cybersecurity solutions are always up to the challenge. Mitigating risks in cybersecurity is not a one-man’s job, and it can’t be handled alone. BugBounter is a company that helps enterprises and individuals make smarter decisions and helps reinforce high security in their systems. BugBounter provides with 24/7 availability, scoping flexibility, and cost- effective bug bounty services with 2300 cybersecurity experts.With the number of daily tasks, cybersecurity programs should not take a backseat. Bug bounty programs help organizations identify bugs that exist without being noticed. BugBounter helps organizations seek individuals who can identify such errors and make sure that their investments in security programs never go waste. It also helps overcome exploits and vulnerabilities. Contact with us and we will get back to you immediately.

The world is in a state of rapid change, and this is especially true in the world of IT technologies. With each new advancement in web/mobile applications and IoT devices and network elements, there are new risks to be considered. Therefore, staying updated on the latest cybersecurity threats is vital. In a VUCA world – a world that is volatile, uncertain, complex, and ambiguous, you need a VUCA strategy to solve every problem with Vision, Understanding, Clarity, and Agility (VUCA!).

Living in the VUCA World

Volatility refers to the high rate of change in the ecosystem such as budgets, availability of team members and demand from businesses. Uncertainty is the lack of predictability especially for the security level of new infrastructure, new applications, new releases that’s happening almost every week. Complexity is the different elements in a system and how they work together such as interaction between security and engineering, commercial growth pressure vs risk management and teaming up with outsource resources. Ambiguity is the lack of clarity while defending systems from highly skilled, resourceful criminal hacking activities. These concepts are important because they help cybersecurity executives, teams, and experts to understand and act on the risks and challenges associated with securing information systems. Read this blog to learn how bug bounty helps respond to the VUCA world with a VUCA strategy and Applying VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) strategy for cyber resilience.

Vision for Volatility in Cybersecurity

Rapid changes in the IT world is nothing new. Criminal hackers join forces and change tactics to create a constantly evolving landscape of threats. Unstable systems, hard to predict changes, urgent actions, tight deadlines will bring vulnerabilities to what was considered safe. Bug bounty programs have become one popular way to address the Volatility problem by bringing Vision from a global perspective. With hundreds of experts from 30 nations, Bug bounty provides unprecedented access to cyber security expertise, 24hr access, and focus to this crowdsourcing mechanism for identifying and addressing security vulnerabilities, providing the right direction and help making sense of the hacking world.

Understanding for Uncertainty in Cybersecurity

Cybersecurity teams can never know how secure the systems are. The lack of predictability leads to surprise issues and bugs. Safeguarding personal and valuable data from unauthorized access or data breaches is a priority. With the help of bug bounty solutions, you are able to see a wide range of security exploits, recognize the critical issues and discover potential flaws in the systems, and read the signals on-time. Understanding the major vulnerabilities in your system will open the minds not only for the security teams but the entire organization.  Bug bounty employs ethical researchers to discover security bugs in your system. This helps you understand how potential attackers could exploit your system and take steps to increase your security posture.

Clarity for Complexity in Cybersecurity

There is often a disconnect between security teams and other business units, which can lead to siloed approaches to security. To identify and solve issues, it is essential to have clarity and understanding amongst all members of an organization. One way to promote this clarity is by using bug bounty reports. This cuts through the complexity by opening a direct channel between the ethical hackers with security teams. By simplifying the testing process and engaging engineering/development teams within the organization and taking a comprehensive approach to enterprise security, bug bounty reports can help developers better understand their role in cybersecurity and how they can work together to solve any issues that may arise. The intuitive approach of bug bounty helps organizations develop skills to challenge complexity.

Agility for Ambiguity in Cybersecurity

Data without insights can be harmful. It is vital to correlate the different security issues to adapt quickly to changes. Bug bounty security researchers are able to trace even the small bugs and connect the dots to exploit a critical issue and report in detail. While patching the bugs before they are exploited, teams learn from their mistakes. Empowering the freelance security researchers over a bug bounty program will increase collaborative power and set your team members to perform a better job. If you do not innovate your cyber security approaches, suffering from criminal hacking activities are not far.

Bugbounter: The smart solution for your cybersecurity testing

While there is no silver bullet for safeguarding your cyber assets from breaches, Bugbounter will help to improve an organization’s security posture by encouraging continuous testing and identification of such vulnerabilities. BugBounter is known to provide 24/7 availability, scoping flexibility and cost-effective bug bounty services with 2300 cybersecurity experts at your disposal as and when necessary with a guaranteed ROI, as no fees allocated unless a valid bug is reported.With a well-designed program in place, bug bounty can play an essential role in helping to keep your organization safe from the VUCA world of cyber threats. Connect with us to get tested now.

With the global acceleration of digitalization, many industries have brought their sales and customer engagement platforms to web and mobile apps, but cyber attacks have started to gain frequency with this change. Cyber attackers find vulnerabilities and steal data, which leaves companies at risk, both financially and in terms of reputation, with demands such as ransom. In terms of cyber security risks, tourism companies that carry their services to the digital world are raising stars. Can tourism companies protect their digital assets and valuable data from focused cyber criminals?

Digital tourism companies are among the prominent targets of attackers

Many people made a quick return to their missed holiday plans with the end of the pandemic period, in which physical activities were greatly restricted mainly due to social distance.Moreover, during the pandemic period, the interest in digital tourism companies has increased in the making of touristic plans, along with the transfer of consumption habits to digital.While this increase attracted the attention of cyber-attackers, digital tourism companies, where reservation and purchase processes are quite intense and customer data is quite high, started to face a great risk.Mediterranean countries are rich in tourism and therefore in this region where the risks of cyber attacks can be quite high.Taken with data, it is estimated that while the damage done by cyber attacks to the global economy reached $1 trillion at the annual summit of the World Travel and Tourism Council[AG1]  2022, it will reach $90 trillion by 2030[1].While it is of great importance for every sector to know the preventive cyber defense methods and how to audit the security level of digital assets effectively, in the light of new generation solutions, digital tourism companies also have a great responsibility to protect their customers’ personal data.Many people made a quick return to their missed holiday plans with the end of the pandemic period, in which physical activities were greatly restricted mainly due to social distance.Moreover, during the pandemic period, the interest in digital tourism companies has increased in the making of touristic plans, along with the transfer of consumption habits to digital.While this increase attracted the attention of cyber-attackers, digital tourism companies, where reservation and purchase processes are quite intense and customer data is quite high, started to face a great risk.Mediterranean countries are rich in tourism and therefore in this region where the risks of cyber attacks can be quite high.Taken with data, it is estimated that while the damage done by cyber attacks to the global economy reached $1 trillion at the annual summit of the World Travel and Tourism Council 2022, it will reach $90 trillion by 2030[1].While it is of great importance for every sector to know the preventive cyber defense methods and how to audit the security level of digital assets effectively, in the light of new generation solutions, digital tourism companies also have a great responsibility to protect their customers’ personal data.

How digital tourism companies can be protected from cyberattacks

Tourism companies that offer their services on digital platforms to their customers may be able to protect their sensitive customer data by using some effective methods. In particular, attempts such as capturing the data that are the target of cyber attacks and demanding ransom by blocking access, as well as gaining unfair profit by manipulating the data, can be prevented by smart methods. Our suggestions to defend your applicationsfrom cyber attacks can be listed as follows:

1. Security tests of updated software and applications shall be done every time before going live. Make this a part of your devops process.
2. Engineering teams can be trained about different types of cyber attacks. Since cyber threats are constantly developing and changing, it is very important that these trainings are always renewed and applied to coding.
3. Test procedures can be established to check not just the new code but also the other functionalities as a previous security fix might be crashed again.
4. Powerful red-teams can be utilized to maximize discovery of security issues.
5. As cyber attackers discover new ways to infiltrate a system, it is necessary to set and watch alarms 24/7.
6. Security awareness level of the employees can be measured with the practice of phishing attack. Train them periodically.
7. Investigation tools can be used to find your copy malicious websites.
8. Employees can be encouraged to use strong passwords and password tools.
9. Bug bounty programs that bring together independent cybersecurity experts would be launched and the level of security can be checked effectively 24/7.

Digital tourism companies need to protect themselves and their customer data with preventive methods and shall be audited by new generation testing methods. The danger posed by attackers will not only result in a financial loss, but also have serious negative effects on the brand image and company reputation.

It is possible to stay one-step ahead with Bug Bounty programs

As summer begins, reservations and purchases increase, and the risk for companies’ digital data may also increase. In this period, which increases the motivation of the attackers, the bug bounty program can be performed to stay ahead of cyber attacks.

BugBounter, with its 2000 cyber security experts, ensures that companies’ digital assets are audited against attacks at the level of genius criminal attackers. Using similar tools, latest technologies and most smart techniques like criminal hackers, our experts (so called Bounters) who discover the vulnerabilities of applications report in real-time and help security teams to eliminate risks. BugBounter’s authorized teams provide verification checks as the security bugs are fixed to ensure the security is intact.

You can contact BugBounter now to start your bug bounty program right-away and eliminate cybersecurity vulnerabilities with the most cost-effective way.

[1] https://wttc.org/News-Article/WTTC-launches-new-cyber-resilience-report-for-the-global-Travel-and-Tourism-sector