Paulding-Putnam Electric Cooperative Transitions IT Infrastructure to the Cloud to Provide a Superior Customer Experience - PDF

Case Study

Paulding-Putnam Electric Cooperative Transitions IT Infrastructure to the Cloud to Provide a Superior Customer Experience

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2024 Western Michigan University IT Forum Conference

Western Michigan University IT Forum Conference 2024

November 8, 2024

IT Forum Conference

Schneider Hall at Western Michigan University, Kalamazoo, MI

David Cieslak, Chief Data Scientist at Aunalytics, to speak at 2024 WMU IT Forum Conference

Aunalytics is excited to participate in the 2024 Western Michigan University IT Forum Conference in Kalamazoo, MI. David Cieslak, PhD, Chief Data Scientist at Aunalytics, will be giving a talk entitled, “Returning to the Mission of AI: Solving for Workload Imbalance“. Representatives from Aunalytics will also be on hand to discuss cybersecurity, IT, and AI topics with attendees.

2024 Western Michigan University IT Forum Conference

Hacker looking at a computer screen full of code in a dark room

Understanding the Hackers' Playbook: How to Prevent Cyberattacks and Adopt Good Practices

As increasingly sophisticated cyber threats pose risks to companies of all sizes, understanding how to prevent cyberattacks and implement good safety practices is important for any organization. This blog post discusses the common threats that companies face, effective cybersecurity strategies, and best practices for maintaining robust defenses. We’ll also explore how to foster a culture of security awareness and prepare for rapid recovery after an incident.

Hacker looking at a computer screen full of code in a dark room
Understanding Common Cyberattacks

To effectively combat cyberthreats and develop smart strategies, organizations must be able to recognize common threats. One increasingly common type of attack is an opportunistic attack—attacks based on available opportunities rather than specific targets. One of the most prevalent opportunistic attacks involves exploiting known vulnerabilities—weaknesses in software or systems that, if left unpatched, can be leveraged by hackers to gain unauthorized access. For example, the Experian data breach demonstrated the dangers of neglecting known vulnerabilities. Despite being aware of the issue for weeks, Experian’s IT team failed to act, resulting in a massive compromise of personal data. This incident highlights the importance of timely patch management and proactive security measures.

Another critical threat is the compromise of business email accounts, often leading to the exploitation of platforms like Office 365. Common risk factors include the lack of Multi-Factor Authentication (MFA) and poor security practices. While MFA can significantly reduce the risk of unauthorized access, many organizations still avoid implementing it, often due to perceived inconvenience. However, the benefits of MFA far outweigh the hassle, making it a fundamental component of a strong security posture.

While technologies such as MFA are extremely effective at preventing cyberattacks, it doesn’t prevent all breaches. Phishing, though a simple, well-known concept, remains one of the most effective and damaging methods of cyberattack. Phishing emails trick recipients into divulging sensitive information or clicking on malicious links. It is all too easy for a single employee to have a brief lapse in judgement that puts an organization at risk. To combat this, phishing-resistant MFA and ongoing employee training are essential.

Key Components of an Effective Cybersecurity Strategy

To build a robust cybersecurity strategy, it’s essential to implement layered defenses and understand the key principles of security management. Phishing-resistant MFA adds an extra layer of security by requiring multiple forms of verification before granting access. This makes it significantly harder for attackers to gain unauthorized access through stolen credentials.

Additionally, understanding the shared responsibility model is crucial. Organizations must know their responsibilities and choose technology providers that align with their security needs. This includes ensuring that all security measures are covered and that responsibilities are clearly defined.

Employing established security frameworks, such as the NIST Cybersecurity Framework (CSF), can also provide a structured approach to managing and mitigating cybersecurity risks. These frameworks offer guidelines on identifying, protecting, detecting, responding to, and recovering from cybersecurity incidents.

Incident Response Framework Reference: NIST 800-61 Rev2
Incident Response Framework Reference: NIST 800-61 Rev2
Keeping Cybersecurity Policies Up-to-Date

Security threats are constantly evolving as hackers develop increasingly complex methods and uncover new vulnerabilities. To maintain a strong cybersecurity posture, organizations must continuously adapt their strategies—regularly reviewing and updating policies is essential. This includes conducting periodic assessments and audits to ensure that policies remain effective and relevant. It is also beneficial to regularly test and refine response plans by conducting tabletop exercises to simulate cybersecurity incidents. These exercises help organizations prepare for real-world scenarios and improve their incident response strategies.

As tactics evolve and new vulnerabilities are uncovered, organizations must stay informed of the latest security news and intelligence. This can include gathering threat intelligence from partners and industry sources, and staying informed through news articles, social media, and threat intelligence feeds. Additionally, engaging in a crowdsourced approach to security allows organizations to tap into a broader pool of knowledge and expertise. Participating in cybersecurity forums and collaborating with external security experts can take this knowledge a step further and helps organizations learn how to proactively address potential risks.

Best Practices for Incident Response

While putting safeguards in place to prevent cyberattacks from occurring is imperative, it is also equally important to prepare your organization to respond appropriately when an incident does occur. During a cyberattack, it’s crucial to have tools in place to detect anomalies and communicate effectively. Quick actions include containing the incident by taking affected systems offline, blocking access to malicious platforms, and assessing the scope of the breach.

A clear communication plan and understanding of the attack’s attribution are essential for effective recovery. Preparation involves establishing processes for detection, analysis, containment, eradication, and recovery, followed by post-incident activities to improve future responses.

Employee Training and Awareness
Security assessments can help organizations with cyber insurance renewal challenges

To ensure that all areas of a company take an active role to prevent cyberattacks, it’s crucial to foster a strong security culture. Unfortunately, employees often make mistakes that lead to breaches, such as falling for phishing schemes or responding to solicitation calls. Educating staff about the tactics used by attackers, such as impersonation and social engineering, can help prevent these errors.

Therefore, it is crucial to ensure that all employees have access to cybersecurity training—this training covers the basics of recognizing bad actors and avoiding common traps.

Tailoring training to specific roles and conducting phishing email simulations can enhance employees’ ability to identify and respond to threats. Creating a culture of cybersecurity awareness involves emphasizing the importance of security to employees and their families. This helps instill a sense of personal responsibility for maintaining security practices.

For IT and cybersecurity professionals, it is greatly beneficial to focus on developing a strong understanding of network engineering, including routing, switching, and firewall management. Additionally, the ability to visualize and comprehend data flows and security information is crucial for effective security management. IT teams must avoid cutting corners and ensure robust security measures are in place. They play a critical role in enforcing security policies and preventing breaches, making their diligence essential.

Conclusion

Understanding the tactics used by attackers and implementing robust preventive measures is key to safeguarding your organization. By adopting best practices such as phishing-resistant MFA, regularly updating policies, leveraging threat intelligence, and training employees effectively, companies can significantly reduce their risk of cyberattacks. Additionally, having a well-defined incident response plan and fostering a culture of security awareness ensures preparedness for any potential breaches. By following these guidelines, organizations can better protect their data and maintain a strong defense against cyber threats.

Security shield with lock in center

Partnering with Aunalytics ensures your data privacy and security through a comprehensive approach that includes advanced risk assessments, phishing-resistant Multi-Factor Authentication (MFA), and continuous updates to align with industry standards like the NIST Cybersecurity Framework. Our expert team provides 24/7 monitoring and rapid threat response, leveraging cutting-edge technology and threat intelligence to preemptively address risks. With Aunalytics, you benefit from top-tier protective measures and a commitment to adapting strategies to emerging threats, ensuring your data remains secure and confidential.


23 GoWest CUA MAXX Conference

GoWest MAXX Convention 2024

October 13-16, 2024

GoWest MAXX Convention 2024

Gaylord Rockies Resort & Convention Center, Aurora, CO

Aunalytics to attend the 2024 GoWest MAXX Convention

Aunalytics is thrilled to be an exhibitor at the 2024 GoWest MAXX Convention in Aurora, CO on October 13-16, 2024. Aunalytics will be at booth #193 demonstrating our member intelligence solution which enables credit unions to use AI to increase deposits and more effectively identify and deliver new services and solutions—allowing them to compete with large national banks.

23 GoWest CUA MAXX Conference

Jack Henry Connect 2023

2024 Jack Henry Connect

October 7 - 10, 2024

2024 Jack Henry Connect

Phoenix Convention Center, Phoenix, AZ

Aunalytics to attend 2024 Jack Henry Connect

Aunalytics is excited to attend 2024 Jack Henry Connect. Representatives from Aunalytics will be demonstrating our customer intelligence solution at booth #830. Aunalytics enables financial institutions to increase deposits and more effectively identify and deliver new services and solutions for their customers and members so they can better compete with large national banks.

Jack Henry Connect 2023

2024 IBA Banktech

2024 BankTech Conference

October 3, 2024

2024 BankTech Conference

DoubleTree by Hilton Hotel Chicago - Oak Brook, Oak Brook, IL

Aunalytics to be featured at the Innovators' Showcase at the 2024 BankTech Conference

Aunalytics is excited to attend and exhibit at the 2024 BankTech Conference, presented by a partnership of Illinois, Indiana, Michigan, and Ohio state banking associations in Oak Brook, IL. Kyle Davis, VP, Managed Analytics from Aunalytics will be demonstrating how our customer intelligence solution enables banks to increase deposits and more effectively identify and deliver new services and solutions for their customers so they can better compete with large national banks.

2024 IBA Banktech

24 Indiana Credit Union League Annual Meeting & Convention

2024 Indiana Credit Union League Annual Meeting & Convention

October 2 - 4, 2024

2024 Indiana Credit Union League Annual Meeting & Convention

JW Marriott Indianapolis, Indianapolis, IN

Aunalytics to attend the 2024 Indiana Credit Union League Annual Meeting & Convention

Aunalytics is thrilled to be an exhibitor at the 2024 Indiana Credit Union League Annual Meeting & Convention in Indianapolis, IN on October 2 – 4, 2024. Aunalytics will be at booth #20 demonstrating our member intelligence solution which enables credit unions to use AI to increase deposits and more effectively identify and deliver new services and solutions—allowing them to compete with large national banks.

24 Indiana Credit Union League Annual Meeting & Convention

Digital Transformation in Community Banking

Digital Transformation in Community Banking Webinar

Webinar

Digital Transformation in Community Banking

With the help of AI technologies, community banks have successfully been able to strengthen relationships, reduce churn, increase deposits, and improve ROI enterprise-wide by utilizing the data they already have at their fingertips—and your organization can, too. However, successful digital transformation can be a major challenge for midsized and community-based banks. Adopting new technologies, shifting operational mindsets, and hiring the talent necessary to build and execute upon AI solutions is a major endeavor. Many banks do not even know where to begin. In this presentation, discuss the steps and considerations for aggregating data across your bank to create a 360-degree view of your customers, why that is important, and ways other community banks have found success through analytics initiatives.

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Computer with code and hands typing on the keyboard

Staying Secure: Recent Security Breaches and Essential Prevention Strategies

The increasing reliance on digital technologies has led to the increased frequency of security breaches. Recent incidents have highlighted vulnerabilities across several industries, emphasizing the importance of robust cybersecurity measures. Here, we examine some notable security breaches that have recently made headlines, detailing the “how” and the responses taken to mitigate future risks.

Computer with code and hands typing on the keyboard

Microsoft Azure and Executive Accounts

In a significant cyberattack on Microsoft Azure in January 2024, hackers exposed the accounts of hundreds of Microsoft senior executives to unauthorized access, with the use of phishing attacks and malicious links. The attackers used a password spray attack to break into the accounts, which is when an attacker tries several passwords across multiple user accounts to avoid detection systems. This breach allowed unauthorized access to Microsoft email accounts, leading to the exfiltration of sensitive emails and attached documents. The attackers also targeted source code and infrastructure, emphasizing the importance of heightened vigilance against sophisticated phishing tactics.

One extremely effective way to ward against this type of attack is to create strong passwords and change them regularly to prevent them from being hacked, as well as using multi-factor authentication.

Bank of America Third-Party Data Breach

Attackers understand that large banks have robust cybersecurity measures to protect their networks. However, many third parties lack similar resources and may not yet prioritize cybersecurity education or infrastructure. This makes them more likely to be targets for cybercriminals seeking vulnerabilities to exploit when sharing data with major institutions. This incident underscores the critical need for financial institutions to strengthen third-party vendor security protocols and ensure robust data protection measures.

The ransomware group LockBit orchestrated a breach targeting Bank of America in February 2024 via its third-party vendor, Infosys McCamish. Personal information—including names, Social Security numbers, and account details of over 57,000 individuals—was compromised.

Ascension Ransomware Attack

Such attacks necessitate comprehensive cybersecurity strategies to safeguard critical healthcare infrastructure and ensure uninterrupted patient care. Moreover, ensuring robust disaster recovery plans and reliable backups can get services back on track faster, which is particularly crucial for healthcare systems, because extended delay can directly impact patient care and safety.

Ascension, the owner of 15 hospitals in Michigan, fell victim to a ransomware attack in May 2024 that disrupted electronic health records systems, phone systems, and scheduling processes. Non-emergency procedures and appointments were suspended, highlighting the operational impact of cybersecurity incidents on healthcare services.

New York City Metropolitan Transportation Authority (MTA) Cyberattack

In 2020, research showed that municipalities, which are already vulnerable targets for cybercrime, faced 44% of global ransomware attacks—equating to approximately 133,496,000 incidents. An April 2021 cyberattack on the New York City Metropolitan Transportation Authority (MTA) compromised 18 systems, including those controlling train operations and safety mechanisms. This breach posed serious implications for public safety and operational continuity.

Following the attack, MTA swiftly implemented federally recommended security enhancements and mandated password changes and VPN switches for employees and contractors, illustrating proactive steps to fortify cybersecurity defenses.  

Moving Forward: Prevention Procedures

Preventing security breaches requires a multi-faceted approach that empowers teams and safeguards organizational assets. Regular training sessions are essential to educate employees on identifying phishing emails, creating robust passwords, and understanding the importance of safeguarding sensitive information. This measure ensures everyone understands their role in preventing data breaches.

Strengthening asset management through classification, organization, automation, and continuous monitoring helps maintain an up-to-date inventory, facilitating informed decision-making and enhancing troubleshooting capabilities. Effective management and monitoring of access rights, supported by IAM, routine account audits, SSO, and multi-factor authentication, are also critical for ensuring only authorized personnel have access to certain resources.  

Immutable Backup

Another strategy to prevent security breaches is implementing robust firewalls and antivirus software services, which can serve as the frontline defense against malicious threats. Regular updates to these defenses are crucial to identifying and addressing vulnerabilities promptly. Additionally, implementing automated data backup systems across multiple locations provides a safety net against data loss and physical damage, ensuring business continuity even in the face of unforeseen incidents. By integrating these preventive measures into comprehensive cybersecurity strategies, organizations can effectively mitigate risks and protect sensitive information from increasingly sophisticated cyber threats.

At Aunalytics, we are committed to preventing security breaches—protecting customer data is our top priority. We adhere to stringent security protocols, including regular employee training, robust encryption measures, and continuous monitoring of access controls. Our goal is to ensure our clients are utilizing the latest security technologies and best practices to stay protected, while having the right backup and disaster recovery strategies in place to get their businesses back up and running as quickly as possible in the event of a cyber event or disaster scenario.


2024 PACB Annual Convention

2024 PACB Annual Convention

September 19-21, 2024

2024 PACB Annual Convention

Pennsylvania Association of Community Bankers

The Omni Homestead Resort, Hot Springs, VA

Aunalytics to exhibit at the 2024 PACB Annual Convention

Aunalytics is excited to attend and exhibit at the 2024 PACB Annual Convention, presented by the Pennsylvania Association of Community Bankers in Hot Springs, VA. Representatives from Aunalytics will be demonstrating how our customer intelligence solution enables banks to increase deposits and more effectively identify and deliver new services and solutions for their customers so they can better compete with large national banks.

2024 PACB Annual Convention