The Application Security strategy for your Co in 2019

Digital transformation, besides heralding immense benefits for businesses, entities, and individuals, has brought about a slew of security challenges as well. In today’s digital ecosystem where software applications containing sensitive business and personal data interact with a host of digital touchpoints, there is an increased risk of the presence of inherent vulnerabilities within these applications being exploited. The rough estimates on the proceeds of cybercrime in the year 2018 are expected to touch a whopping $1.5 trillion (Source: thesslstore.com.) The magnitude of the challenge is due to the fact that cybercrime has become a low investment, low risk, but a high yield venture for criminals.

Since cybercrime has the potential to damage customer confidence and brand reputation, businesses have to build robust strategies for application security testing. Let us look into the ways in which security risks can be minimized.

Steps to reduce security risks

• Minimizing the risk exposure to critical business and personal data.
• Build a strategy to implement risk management and compliance procedure.
• Know about the evolving security threats and upgrade systems for prevention.
• Adhere to all security protocols and maintain the required business service levels.

The predominant application security testing methodology followed by most organizations involves using firewalls and SSL encryption. However, these organizations often become a victim of cybercrime thereby undermining the brand reputation and critical data. The way to strengthen the security network and reduce the exposure of systems to risks is by executing application security testing early in the SDLC. As security vulnerabilities can be exploited at any given point in the workflow using methods like SQL injection and cross site scripting among others, it is better to develop a security culture aka DevSecOps. As technology evolves, businesses should reassess their strategy for software application security testing in the year 2019.

1. Pre-empt threats and enhance enterprise mobility: Since many security incidents can be traced back to compromised internal sources, it is better to implement the best practices for identity management. This should be followed across the organization involving every stakeholder – employees and vendors. Moreover, the business-critical information should be retained by securing the email exchanges.
2. Real time detection and pre-emption of security incidents: Businesses should understand the user behaviour and gain insights into the logs to identify any ‘outlier’ transaction. The system users should be updated about following the risk and compliance regulations. Also, a proper security infrastructure should be put in place comprising secured user login, passwords, privileged access etc.
3. Securing each application component: Each component of a software application can have specific security challenges and would need appropriate interventions. For example, the component(s) responsible for program execution would need the incorporation of intrusion detection and prevention systems. Similarly, the component to store information would need proper access controls pre-empting other components from accessing data elements. The application security testing methodology should validate the network access controls to check if they allow the ingress of approved users or information.
4. Automate the security paraphernalia: The high-end applications of today comprising numerous digital elements can be subjected to cyberattacks unless proper security measures are put in place. This calls for replacing the manual security measures with automation. Importantly, AI-led automation can predict and pinpoint the security vulnerabilities or intrusion by analyzing the historical patterns. Automation can be a consistent, accurate, effective, and reliable method to bolster security.
5. Use cloud-based security applications: With increased competition, businesses are looking at cost effective initiatives to drive revenues. Moreover, the biggest challenge to implement IT security measures is the lack of trained staff and adequate budgetary allocation. Businesses are often wary of implementing costly security systems. This is where cloud-based resources can be accessed, configured and implemented at cost effective price points.

#6. Test the existing security measures: The security apparatus implemented should be validated against vulnerabilities and threats. To ensure the same, rigorous application security testing in the form of penetration testing should be executed. The said testing can offer valuable feedback on areas containing vulnerabilities and gaps. It is better to engage external agencies to conduct penetration testing to obtain an impartial evaluation.

Conclusion

Ensuring the security of applications has become the biggest challenge for businesses given the growing spectre of cybercrime. However, the same should not be approached with a jaundiced eye to cut costs. Implementing DevSecOps is arguably the best software application security testing strategy to minimize security risks.