OpenText’s Paul Reid on Preventing Next Generation Cyberthreats

Summary

In this RSA conference interview, Paul Reed from OpenText discusses the evolution of cybersecurity threats, particularly next-generation threats targeting cloud adoption and supply chains. He emphasizes the importance of understanding information management for effective data protection and introduces OpenText's new product, SideDNA, which offers a holistic approach to cyber resilience by identifying and prioritizing threats within a company's entire digital ecosystem, including supply chains.

Takeaways

• 💡 OpenText is a $6 billion annual revenue company with a strong background in information security management, which gives them a unique perspective in data protection.
• 🔒 They emphasize the importance of understanding what data you have, where it's stored, and its importance, as you can't protect what you don't know you have.
• 🛡️ OpenText's advantage is combining information management with cybersecurity products to provide better data protection and cyber resilience.
• 🌐 The company discusses 'Next Generation threats' which include attacks on cloud services, supply chains, and federated identities, as these are becoming more targeted by threat actors.
• 🕵️‍♂️ Threat actors are conducting more reconnaissance and open-source intelligence gathering to understand their targets better before launching attacks.
• 🔑 Centralized federated identity systems, while easier to manage, are seen as single points of access by threat actors, increasing the risk of a breach.
• 👀 OpenText advises companies to look beyond their borders and understand the global adversary signals to gain visibility into current threats.
• 📊 Adversary signal threat intelligence is highlighted as a way to provide specific, actionable insights into the threats targeting a company, rather than general information.
• 🛑 The script mentions the importance of endpoint protection, patching, and prioritizing security measures based on the specific threats identified.
• 🌟 OpenText's product offerings cater to businesses of all sizes, from small to large enterprises, with a range of products for endpoint protection, web gateways, and advanced threat intelligence.
• 🔮 Looking to the future, OpenText predicts that generative AI will play a significant role in enhancing the effectiveness of phishing and spear-phishing attacks, increasing the volume of threats.
• 🔄 The focus on supply chains as a new frontier for cyber threats is highlighted, with the potential for adversaries to target smaller businesses within a larger company's supply chain.

Q & A

What is OpenText's core business and how does it serve its clients?

OpenText is a $6 billion a year revenue company with a historical background in information security management. It serves its clients by leveraging its unique perspective in information management to understand where data is kept, how it is accessed, and its importance, which is crucial for effective data protection.

How does OpenText's background in information management give it an advantage in cybersecurity?

OpenText's background in information management allows it to understand the data landscape of its clients, including where data is stored and its importance. This understanding is critical for protecting data effectively, as knowing what you have is the first step in being able to protect it.

What are Next Generation threats in the context of cybersecurity?

Next Generation threats refer to the evolving strategies and tactics used by threat actors as companies move to the cloud, leverage supply chains, and adopt federated identity. These threats are more coordinated, involve more reconnaissance, and target new areas such as supply chains and centralized identity systems.

How do threat actors compromise a company's supply chain to influence business operations?

Threat actors can compromise a company's supply chain by indirectly influencing its ability to do business or conduct operations. If they can compromise a supplier, they can potentially disrupt the supply chain and affect the company's operations.

What is the significance of centralized Federated Identity in the context of Next Generation threats?

Centralized Federated Identity, while easier to manage, presents a single point of access for threat actors. Compromising this identity can give attackers access to all systems and data that rely on it, making it a prime target for Next Generation threats.

What advice does Paul Reed give to companies to protect themselves against cyber attacks?

Paul Reed suggests that companies should focus on understanding global adversary signals, which involves knowing what adversaries are doing and how they are attacking. He also emphasizes the importance of looking beyond traditional borders and working with companies like OpenText to define a 'covered space' that includes all aspects of a company's digital presence.

What is the concept of 'adversary signal threat intelligence' and how does it differ from traditional threat intelligence?

Adversary signal threat intelligence is a more specific form of threat intelligence that tells organizations what is happening to them in real-time, rather than just providing general information about what adversaries are doing. It focuses on the attacks targeting the organization specifically, rather than a broader overview.

How can companies prioritize their patching efforts in the face of numerous threats?

With the help of tools like OpenText's SID, companies can identify which adversaries are targeting them and the tools and techniques they are using. This information allows companies to prioritize their patching efforts to address the most immediate threats first.

What is the role of OpenText's product, SID, in helping companies understand and manage their cyber threats?

SID (Security Intelligence and Detection) helps companies by providing visibility into the incoming and outgoing adversary signals across their entire digital presence, including cloud and supply chain. This visibility allows companies to understand what threats are taking place and to better manage their own security.

What are some of the key features of OpenText's product offerings for clients?

OpenText offers a range of products that cater to businesses of all sizes, from small and medium businesses to large enterprises. These products include endpoint protection, web and email security, web gateways and firewalls, and advanced threat intelligence and detection capabilities.

What does Paul Reed predict for the future of cybersecurity in the next 2 to 4 years?

Paul Reed foresees an increase in coordination among threat actors, more sophisticated attacks, and a focus on softer targets like supply chains. He also highlights the importance of fundamental cybersecurity practices such as patching, credential management, and encryption, as well as the growing impact of generative AI on cyber threats.