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THE NEED FOR LAYERED DEFENSE

Published

9 years ago

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Updated : December 28, 2014 05:30  pm,
By R. Narayan

img53DDoS attacks are but one of the several threat fronts in the IT landscape and the vendors offering thee solutions have been pushed into the limelight with increased need for such critical solutions

As the IT network has several layers, the threat frontiers are multiple as well. It is no surprise then that IT Networks are under constant siege from ever-increasing, multi-vector attacks. These include the rising volume and complexity of advanced persistent threats (APT); DDoS attacks and other threats; along with the demands of emerging technology trends like Internet-of-Things and biometrics. So companies need to have a layered security architecture in place right from the edge to the core of their networks because one weak spot is good enough for the compromise to happen. Further, with cloud service adoption on the rise, there is a need to secure applications that Businesses may be hosting on the public cloud.

Among the several threat scenarios, DDoS (Distributed denial of Service) attacks are one of the several threat fronts in the IT landscape. Most DDoS attacks focus on targeting the transport and network layers (layer 3 and layer 4 of the OSI model) and are usually comprised of volumetric attacks by botnets that are groups of infected PCs that aim to exhaust the resources of the target machines. Malicious traffic can flood the network and drain its resources temporarily. These attacks disrupt Businesses but once removed, do not leave any permanent damage. The Layer-7 Application-layer DDoS attacks are more complicated. They are difficult attacks to mitigate against because they mimic human behavior as they interact with the user interface.

In a recent report entitled Q3 2014 State of the Internet-Security Report from Akamai Technologies, which features analyses and insights into cyber threats around the world, including DDoS attacks, the volume of DDoS attacks has shot up. There are an increasing number of attacks greater than 100 Gbps (gigabits-per-second) and these large attacks are using multiple DDoS vectors to deliver large bandwidth-consuming packets at an extremely high rate of speed. Further attackers have news methods and have refined the traditional methods.  The result is that the average DDoS attack bandwidth is on the rise every quarter.

Security vendors focusing on DDoS Mitigation solutions are now seeing better understanding of the threat scenario by Businesses in the region. These vendors are now seeking to enhance visibility and accelerate deployments of such solutions, through partners and through telcos.

Arbor Networks is a leading vendor in the DDoS space. The vendor believes the region is quite vulnerable to malicious attacks and therefore there is a need for better preparedness against such attacks which may include DDoS attacks. According to the vendor, while DDoS is not a new type of attack experienced by countries, governments and organizations, but is increasingly prevalent and evolving rapidly. In the past, certain verticals would be more susceptible to DDoS threats, with government, finance, gaming and e-commerce being at the top of the list. Today, however, any business or entity can be a target for any real or perceived threats.

“The region is becoming the focal point for hackers. There are many motivations including political and economic. This is helping awareness of Business continuity and how you can avoid the crisis in the first place,” says Mahmoud Samy, Regional Director, Arbor Networks, ME & CIS.

A10 networks is a leading vendor in the Application networking space. The vendor demonstrated its latest innovations in Distributed Denial of service (DDoS) Threat Protection Systems and high-performance, next-generation Application Delivery Controllers (ADCs) at the recently concluded edition of GITEX.

Glen Ogden, Regional Sales Director for the Middle East region at A10 Networks says, “Over the last few years, DDoS attacks have grown dramatically in frequency, size and complexity. Existing security strategies in place are not sufficient enough to address new breeds of DDoS attacks. It is clear that additional solutions are needed to complement existing security infrastructure in a layered defense model.”

According to Symantec Research, DNS based DDoS attacks is on the rise. In this kind of an attack, the attacker spoofs enquiries to domain name system (DNS) servers, hiding the source of the exploit and routing the response to the target. A small DNS query can be turned into a very significant volume of traffic that floods the target.

According to Infoblox, DDoS attacks are targeting DNS as a key vulnerability. Infoblox, the automated network control company, was an exhibitor at GITEX and showcased its latest DNS, DHCP, and IP Address Management (DDI), secure DNS and network automation technologies.

The company is working with its ISP customers and their enterprise customers to help them protect their DNS infrastructure and discuss the best ways to address these new DNS-centric DDoS attacks.

Cherif Sleiman, General Manager, Middle East at Infoblox says, “If your DNS infrastructure isn’t designed or configured properly, you could be either a victim or an accomplice to a DNS DDoS attack. In the past 15 years, we have seen attack vectors move from the Desktop to Network and to the Application layer.   In the past 18 months, DNS has become the latest target where it has become the second highest attack vector on the Internet slightly behind HTTP attacks.  In fact DNS is projected to surpass HTTP to become the number one attack vector within the next 12 months.”

He adds, “With Arbor networks, we have a joint architecture wherein, we can integrate solutions to tackle most of the threats in the DDOS space. We know that Arbor does a great job when it comes to volumetric attacks. Infoblox are the experts when it comes to DNS security. So integrating our solutions together providers a more holistic solution.

The economic damage of DDoS attacks can be quite significant. Arbor Networks’ WISR report found that on average, organizations faced 1-10 attacks per month meaning their ARO (Annual Rate of Occurrence) could be anything between 12 to 120 incidents. An internet services provider could according to the WISR report form Arbor Network face at least 12 DDoS attacks a year. According to industry research, the average cost of a DDoS attack outage is in the neighborhood of $1 million. The ALE (Annual Loss Expectancy) for such an organization therefore is an imposing $12 million.

Arbor offers a range of products and services to counter the DDoS threat scenario. Arbor Cloud-DDos protection service lets you offer best-in-class DDoS defense from the customer premise to the cloud. The on-premise solution provides always-on protection against application layer attacks. The could-based solution protects against large volumetric attacks. Arbor’s cloud signaling intelligently links both environments together. Meanwhile, attack mitigation is provided by Arbor’s experienced attack specialists.

It also has ATLAS, a globally scoped threat analysis network portal that displays host/port scanning activity, zero-day exploits/worm propagation, security events, vulnerability disclosures and dynamic botnet/phishing infrastructures. It provides actionable intelligence to Arbor customers about their network security. Arbor’s ATLAS threat monitoring infrastructure collects data from over 300 service providers as well as other internet operators, totaling an astounding 90 Tbps of global traffic intelligence.

“We have a worldwide network called Atlas. This consists of our response team and installed base of customers worldwide. We have more than 905 of tier 1 and tier 2 companies over the years as our customers. We trace threats worldwide and provides alerts,” says Mahmoud.

He adds, “We work with operators who are our partners to educate their customers so that they are aware before the problems arise. We work with the majority of telcos here- Etisalat, Oredoo, STC etc who are our customers. We would also be working with Etisalat as a managed service to their customers.”

To mitigate DDoS attacks, A10 Network offer the Thunder TPS (threat Protection System) that protects against multiple classes of attack vectors, including volumetric, protocol, resource and advanced application-layer attacks, which are detected and mitigated to prevent a service from becoming unavailable.

“Attacks are not only occurring more frequently, but with greater volumes and increased sophistication. Thunder TPS provides sophisticated, high-performance features to mitigate the largest and most complex DDoS attacks while optimizing rack space and power consumption, ensuring that data center resources are used efficiently and effectively,” says Glen.

A10’s Thunder TPS product line of Threat Protection Systems provides high-performance, network-wide protection against distributed denial of service (DDoS) attacks, and enables service availability against a variety of volumetric, protocol, resource and other sophisticated application attacks.

With DDoS mitigation capacity ranging from 10 to 155 Gbps, (and up to 1.2 Tbps in a cluster), Thunder TPS ensures that the largest DDoS attacks can be handled effectively.

Glen adds, “What is unique is our ability to deliver smallest form factor platform- such as a 1 rack unit capable of delivering up to 155 Gbps. Because of its scalability, we can deliver a no license model. Everybody else in our line of Business have a licensing model – every functionality to be switched on requires a separate license and a support uplift.”

The Trinzic Network Services and Management family of products from Infoblox enables companies to manage, control, and optimize DNS, DHCP, and other services. End of last year, Infoblox also launched Advanced DNS Protection solution, the first Domain Name System (DNS) appliance with integrated defenses against Distributed Denial of Service (DDoS) attacks, cache poisoning, malformed queries, tunneling and other DNS security threats. By building defense directly into a fortified DNS server, the Infoblox solution can deliver protection that is stronger, more intelligent and more comprehensive than what is possible today with separate external security solutions.

“Security of DNS infrastructure should be a top priority for organizations in the Middle East, but unfortunately statistics show that DNS servers and zone data are often neglected, which leave enterprises vulnerable to attacks. These attacks go well beyond DNS DDoS. There are multitudes of different attack vectors, which most DNS servers cannot detect or protect against. The Advanced DNS Protection solution from Infoblox offers intelligent defense against the widest variety of attack types—not just volumetric attacks—to ensure secure, resilient, and trustworthy DNS services,” says Sleiman.

These are some of the companies that are trailblazers in their domains, niches in the past but now very much in the foreground as the awareness of the need for multi-layered network security drives customer demand. And since DDoS and DNS attacks should be dealt with as part of an overall security strategy, the partners of these companies in the channel have a key role to play as well in educating and consulting their customer in deployments of the right solutions.

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Features

Navigating Merchant Payments under CBUAE’s New Payment Token Services Regulation

Published

4 days ago

on

September 11, 2024

By

Payment Token Services Regulation

By: Akshata Namjoshi, Associate Partner, KARM Legal
Kabir Hastir Kumar, Associate, KARM Legal

Blockchain and digital assets are transforming the financial landscape, with increasing applications in payments, lending, and asset management.

Stablecoins are particularly being explored for payments due to their price stability. According to the CoinGate Q1 2024 report, USDT transactions accounted for 41.4% of all crypto payments, highlighting a growing trend towards stablecoin use in commerce. Additionally, Deloitte’s report underscores that over 60% of merchants express significant interest in accepting cryptocurrency payments, aiming to enhance customer experience and expand their market reach.

Merchants are increasingly interested in enabling their customers to pay with cryptocurrency. They partner with various acquiring platforms that facilitate these transactions through third-party crypto liquidity providers. Enabling such payment options benefits merchants by expanding their customer base, offering payment flexibility, and enhancing overall customer experience.

In the UAE, the Central Bank of the UAE (CBUAE) has recently introduced the Payment Token Services Regulation (PTSR), which imposes specific requirements on payments in virtual assets. This article discusses the impact of this regulation on merchant payments and its potential to shape the virtual asset industry in the region.

Risks with unregulated Crypto Merchant Payments

Many solutions globally have operated in a legally grey area, where fiat-to-virtual asset conversions were facilitated by both regulated and unregulated liquidity providers, posing risks particularly related to AML practices. Accepting crypto payments without stringent AML/KYC checks, including wallet screenings, could facilitate money laundering by integrating illicit funds into the traditional financial system. This highlights the importance of comprehensive AML measures to prevent illegal activities and ensure the integrity of the financial system. This can only be accomplished through regulation of all players invovled.

Position under PTSR

The new PTSR clarifies the legal framework for crypto payments in the UAE. Contrary to some beliefs, PTSR does not ban crypto payments but regulates them.

The PTSR stipulates that merchants can only accept payments for goods and services in dirham-backed stablecoins.

While many have interpreted this to mean an outright ban on crypto payments, there is no express prohibition on licensed Virtual Asset Service Provider (VASP) first converting virtual assets to fiat or dirham backed stablecoins.  

The conversion of virtual assets into fiat or dirham-backed tokens through VARA or SCA -regulated VASPs is still permissible provided the appropriate no-objection registrations and licenses are procured from the CBUAE.

Implications on Existing Merchant Acquirers and Payment Aggregators

Merchant acquirers and payment aggregators in the UAE, regulated under the Retail Payment Services and Card Schemes Regulation (RPSCS Regulation), enable merchants to accept payments through various methods including debit cards, credit cards, and bank transfers. The PTSR though supersedes references to virtual assets in the RPSCS Regulation. Merchant acquirers and aggregators regulated under RPSCS Regulation can seek a custody and transfer license under PTSR for settlements in dirham-backed stablecoins, or a conversion license for facilitating fiat-to-stablecoin exchanges. If they wish to only handle the fiat leg of the transaction, they may continue under their existing license.

To enable trading of virtual assets – fiat/dirham backed stablecoins pairs, partnerships with VARA based VASPs can be explored. Such partnerships would involve front-end integrations to allow paying customers to acquire fiat/ dirham backed stablecoins for payment to merchants. All players must ensure that they operate within their licensing scopes for such arrangements.

Similar models can be seen in other jurisdictions, where the conversion of cryptocurrencies to fiat is handled by licensed VASP, and the fiat leg of the transaction is managed by payment service providers (PSPs), often operating in distinct regulatory environments.

Depending on the structure of the solution offered, contractual relationships will exist between (i) VASPs-paying customers for trading of crypto to fiat/dirham backed stablecoin; (ii) PSPs and merchants for acceptance and settlement of payments; and (iii) between PSPs and VASPs for front-end integration.  

These partnerships benefit all parties: customers enjoy flexible payment options, merchants expand their payment methods, and payment service providers and VASPs gain an additional revenue channel.

Implications for Merchants

Merchants should seek comprehensive solutions for seamless crypto payments. These solutions streamline payment processes and enhance customer satisfaction by providing more payment options. Additionally, adopting crypto payments can position merchants as forward-thinking and tech-savvy, attracting a broader audience and potentially increasing sales.

However, in the absence of such licensed solutions in the market currently, some platform structuring may have to be undertaken for quick go-to-market.

Conclusion

While the full impact of the PTSR on payments and the virtual asset market in the UAE is yet to unfold, this regulation marks a progressive step. It offers legal clarity, fosters trust among customers, and ensures regulatory compliance, mitigating AML risks. This novel approach is likely to positively influence the perception and adoption of virtual asset payments in the region, enhancing overall market confidence.

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Luxury Through Training: Maintaining High Service Standards

Published

6 days ago

on

September 9, 2024

By

Sumo Sushi & Bento

By Jerome Mortel, COO of Sumo Sushi & Bento

In the ever-evolving landscape of the hospitality industry, maintaining high service standards is paramount to ensuring customer satisfaction and business success. At Sumo Sushi & Bento, we have long recognized that our greatest asset is our team. The role of continuous staff training, and development cannot be overstated when it comes to delivering exceptional service and creating memorable dining experiences for our guests.

Staff training serves as the foundation of excellence in any hospitality business. It equips employees with the necessary skills, knowledge, and confidence to perform their roles effectively. From understanding the menu and mastering culinary techniques to perfecting the art of customer service, comprehensive training programs ensure that every team member is well-prepared to meet the high standards set by the organization.

At Sumo Sushi & Bento, our training programs are designed to be thorough and ongoing. New hires undergo a rigorous onboarding process that covers everything from food safety protocols to customer interaction techniques. However, training does not stop once the initial onboarding is complete. We believe in the importance of continuous learning and development to keep our team motivated, engaged, and up to date with industry trends.

Adapting to Industry Changes

The hospitality industry is dynamic, with trends and customer preferences constantly evolving. Continuous staff training enables our team to adapt to these changes swiftly and effectively. Whether it’s incorporating new culinary trends into our menu or adopting the latest technology on our website or app to enhance customer experience, our training programs ensure that our staff is always at the forefront of innovation.

For instance, the recent surge in demand for contactless dining and digital payment options has necessitated a shift in how we operate. Through targeted training sessions, our staff has become proficient in using these new tools, ensuring that we continue to provide seamless and efficient service to our guests.

Enhancing Customer Experience

Customer experience is at the heart of the hospitality industry. Well-trained staff are better equipped to anticipate and meet the needs of our guests, leading to higher levels of customer satisfaction. Training programs that focus on soft skills, such as communication, empathy, and problem-solving, empower our team to create positive and memorable interactions with our customers.

Building a Strong Team Culture

Continuous training and development also play a crucial role in building a strong team culture. When employees feel valued and supported in their professional growth, they are more likely to be engaged and committed to their roles. This sense of belonging and loyalty translates into better teamwork and collaboration, which are essential for maintaining high service standards.

We believe in recognizing and rewarding our team’s achievements. Regular feedback sessions, performance reviews, and opportunities for career advancement are integral parts of our training programs. By investing in our staff’s growth and development, we create a positive work environment where excellence is the norm.

Investing in our Manpower

The role of staff training in maintaining high service standards cannot be underestimated. We are committed to providing continuous learning and development opportunities for our team. This commitment not only ensures that we deliver exceptional service to our guests but also drives our success in the competitive hospitality industry while fostering a culture of excellence that sets us apart.

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Features

Driving Adoption in Green Investments with Asset-Backed Tokens

Published

6 days ago

on

September 9, 2024

By

SunMoney

By Peter Bahorecz, Partner And Chief, Networking Officer, SunMoney

In today’s rapidly evolving financial world, where innovation is constantly pushing the boundaries, the intersection of renewable energy and blockchain technology has produced something truly remarkable: renewable energy-backed tokens. These tokens are not simply another addition to the list of digital tokens; they represent a manner for reconciling sustainability with contemporary finance, giving you an elegant and also stable asset class to invest in — no matter if you’re a seasoned investor or possibly new-to-investing. However, like any financial instrument that has withstood the test of time, their success depends on three key elements: security, transparency, and trust.

Security: The Unshakable Pillar of Renewable Energy-Backed Tokens

Security isn’t just a feature—it’s the bedrock of any credible digital asset. SDBN tokens are seamlessly blending avant-garde digitized assets and the power of the sun. The SDBN token is designed to be a bridge between traditional investments and the dynamic world of crypto, offering a level of built-in security that sets it apart from other digital assets. These tokens, specifically, backed by SunMoney Sonal Group’s solar power plants are not some abstract investment similar to shares; their value is supported by real-life, sustainable, and profitable on-power renewable energy generation. The smart contracts governing SDBN tokens are thoroughly audited to maintain the highest standards of security and reliability. In the complex regulatory environment of Dubai, where token issuance is governed by the Virtual Assets Regulatory Authority (VARA), compliance partner, VAF Compliance plays a crucial role by guiding UAE-based entities, like SDBN, through the intricacies of token issuance and ensuring compliance with VARA regulations. By providing expert assistance in the preparation and refinement of whitepapers, they act as a strategic partner, managing the regulatory relationship, and helping in navigating the compliance landscape with confidence, ensuring innovative financial products like the SDBN tokens meet all necessary legal standards. Continuous monitoring of VARA and MICA regulation changes further ensures that SDBN tokens remain compliant with the latest industry standards, providing peace of mind for all investors.

At the heart of this security is a rigorous Know Your Customer (KYC) process, ensuring that tokens do not end up in the wrong hands. Customers undergo a comprehensive KYC, which includes PEP and blacklist checks, eliminating the risks of supporting illicit activities such as terrorism, human trafficking, and money laundering. Moreover, security elements are embedded in the smart contracts to protect investors—particularly those new to the crypto space—from losing their tokens to fraud or technical mishaps. And if an investor loses access to their tokens, SDBN has the capability to replace the lost tokens and burn the originals, ensuring the investor’s assets remain secure.


Transparency: The Lifeblood of Trust in Asset-Backed Green Cryptocurrency Tokens
For asset-backed renewable energy tokens, transparency is crucial to building and sustaining investor trust. Without it, even the most innovative financial products can struggle to gain traction. These asset-backed tokens are built off the blockchain technology, providing a level of standard transparency which conventional financial systems can never do. All transactions are recorded on a public ledger, and it is open to view or validate by everyone. Moreover, blockchain technology makes it even more secure by providing a decentralized, immutable ledger that makes fraud nearly impossible and ownership crystal clear. It does not just add a feature, but opens an interesting possibility for investors to look at their money and investments. By combining tangible assets with the transparency and security of blockchain, SDBN tokens stand out as a smart, secure choice in the evolving digital finance landscape.
Transparency in renewable energy-backed tokens extends beyond blockchain, by providing regular updates and performance reports filled with deep drills into investments. Instead of investing and crossing their fingers behind the scenes, investors in this case are given details on the solar power plants that back their investments, showing performance metrics from energy production all down to financial returns. SunMoney Solar Group has implemented global compliance measures, including quarterly health checks by an external compliance company, to ensure legal adherence and Anti-Money Laundering (AML) protocols are strictly followed. This sort of information and transparency allows the investors to make well-informed decisions and increases their confidence with regard to the security and worthiness of their tokens. Moreover, our bottom-up approach to governance reflects our commitment to transparency. Investors are kept informed about key decisions and developments, ensuring they have a stake in the future of their investments. This isn’t just about appeasing investors; it’s about fostering a community of engaged stakeholders who are directly involved in the success of the project.

User Adoption: Unlocking the Potential of Asset-Backed Renewable Energy Tokens
As such, while a discussion of what such tokens are and what they might mean is all well and good, asset-backed green cryptocurrency tokens will never realize their full potential unless they are also intuitive, accessible, and widely embraced. SunMoney Solar Group has tackled this challenge by designing a platform that’s as user-friendly as it is sophisticated. Whether you’re a seasoned investor or dipping your toes into digital assets for the first time, the SDBN platform makes investing straightforward and understandable. It is not just an aesthetic design but a means of eliminating barriers to entry, making it accessible to more people in the investment world — especially those who have been neglected by conventional financial infrastructures. These tokens are made even more attractive by further partnerships with established financial institutions, as they add layers of credence and credibility. Meanwhile, efforts to foster a vibrant investor community ensure that users are not navigating this space alone. Instead, they are part of a supportive network where they can share insights, ask questions, and grow together.


The Strategic Impact of Asset-Backed Green Cryptocurrency Tokens
The organic growth of the renewable energy industry is readily apparent as companies realize the strategic advantage offered by asset-backed renewable energy tokens such as SDBN. These are not ordinary investment vehicles: they differentiate themselves via the underlying policy used to generate financial return, which intertwines combined sustainability principles with profits. Each SDBN token is backed by a portion of an operational solar power plant, making it fully collateralized and measurable. This is not about trading the highs and lows of cryptocurrency, it’s about delivering an ironclad business model that earns investors a decent yield from clean power generation every day. When markets are prone to fluctuations, this type of down-to-earth investment is very attractive. SunMoney Solar Group is quite forward-thinking and intelligent in the use of these tokens. By linking the value of the tokens to real-world assets, a financial product that appeals to a very wide audience is created, from hardcore crypto investors to cautious and conscious ones seeking stable and sustainable options. The regular, stable returns offered by these tokens make SDBN an attractive choice for those who want to invest not just in financial growth, but in the future of our planet.

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