Security by design: A principle to effectively secure digital infrastructure

In recent years, there has been an increasing number of high-profile data breaches that have left companies and their customers vulnerable to cybercriminals. 

Flutterwave, one of Africa’s leading payments companies, was recently involved in a security breach that resulted in more than ₦2.9 billion, equivalent to roughly $4.2 million stolen from its accounts. The hack, which occurred in early February 23, involved unknown actors who managed to transfer the funds across 107 accounts. 

Thankfully, Flutterwave was able to detect the security breach and file a lawsuit to aid further investigation of the fraud beneficiaries.

Flutterwave’s breach highlights the importance of security by design – a methodology that integrates security measures into the design and development process of a product or service. By prioritizing security from the beginning, companies can reduce the risk of cyber-attacks and protect their customers’ sensitive information.

In Flutterwave’s case, the security breach raised questions about the adequacy of its security measures. This only proves the need for every organization to constantly review and update digital infrastructure security to keep up with emerging threats.

Why should your organization adopt security by design?

Security by design is essential for every forward-thinking organization. Every business should have security embedded into their business, no matter how small the business is. If security isn’t part of your small business, it becomes harder to adopt security as your organization grows.

It is important to note that every business has different security needs. A social media agency can get by with password managers, a secure drive to store sensitive files, security awareness training and anti-phishing for email security. However, the security needs of a telehealth or fintech enterprise is a different ball game entirely.

Regardless of the size of your organization, here are six (6) key components of security by design to consider:

    Threat modeling

    Threat modeling involves identifying and communicating information about the threats that may impact a particular system or network and can also aid in securing the processes your organization depends on. Because of its versatility, threat modeling provides an organization with a veritable cyber navy, protecting your organization from a variety of threat vectors.

    Risk Assessment

    Who is responsible for assessing risks associated with your organization’s digital infrastructure? Risk assessment is a continuous process that involves evaluating the likelihood and potential impact of identified threats and vulnerabilities. This helps your organization to prioritize security measures and allocate resources effectively.

    Secure Coding Practices

    Secure coding practices enforces writing code that is secure by default through techniques such as input validation, error handling, and encryption to protect againstcommon vulnerabilities such as SQL injection, cross-site scripting (XSS), and buffer overflows. Can you tell if your applications have outdated libraries or insecure code?If your answer is no, there’s work to be done.

    Security Testing

    Hackers do not have superpowers. They simply take advantage of existing vulnerabilities to wreak havoc. Security testing can help your organization keep hackers at arm’s length. It involves testing systems, products, and services for vulnerabilities and weaknesses using techniques such as penetration testing, vulnerability scanning, and code review.

    Compliance

    Are you aware of security standards for your industry? Compliance involves adhering to relevant regulations and standards related to data protection and security as it concerns your industry. Some widely adopted standards include the Payment Card Industry Data Security Standard (PCI DSS) and the General Data Protection Regulation (GDPR).

    Continuous Monitoring

    If you organization gets breached, would you be able to tell? Continuous monitoring involves ongoing monitoring and analysis of systems, products, and services forpotential security threats and vulnerabilities. This allows your organization to detect and respond to security incidents in real-time. By integrating these key components into the design, development, and deployment process, your organization can create systems, products, and services that are secure by design.

    Irrespective of what your business is, we can help you with your security needs. From design to deployment, we’ve got you covered!

    To get started, send an email to info@hacktales.com.ng

     

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