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Cisco Cloud Based Security in the SOC

Black Hat USA marked its 20th anniversary this year. The members of the NOC management showed me photos of the original NOC: a single router in a closet. The NOC has grown with the conference; into a well-managed team of experts from around the globe, from various vendors and backgrounds, all with the same mission: build and secure a robust network for one of the largest cybersecurity conferences in the world. The primary mission of the SOC team in the NOC was to protect the network from attacks: externally and by attendees; especially from DDOS and traffic floods.

New this conference was the addition of Cisco Umbrella for DNS visibility, at the request of the NOC manager, arising from our experiences at Black Hat Asia 2017 with Umbrella Investigate. The set up was very simple: log into the Black Hat Umbrella account created by Alejo Calaoagan, my counterpart in Business Development; add in the Network ranges provided by CenturyLink for the conference; verify the Network ranges were authorized with Umbrella support; and DNS protection and visibility began within an hour.

We also enabled the Cisco Threat Grid intelligence feeds integration, by adding in the API key.

This imports the ~15 curated feeds included in a Threat Grid premium subscription from DNS queries and network streams of malicious samples seen in the last day, including:

  • Autorun Registry Changes
  • Ransomware Communications
  • Banking Trojans
  • Remote Access Trojans
  • DGA Domains
  • Stolen Certificates
  • Documents with Network Connections
  • Modified Windows Host Files
  • Samples Downloading Executables
  • Checking for Public IP Address

By default, Umbrella will begin blocking DNS traffic to sites known to host Malware, to Command and Control Callback servers and Phishing Attacks. At Black Hat, we wanted to enable all traffic, so the trainers and briefers can show the latest exploits.

Many presenters set up new domains and simulated malware expressly for the training. Umbrella blocked over 6,800 DNS queries from this default protection, before we turned off the enforcement. Over the weekend, we saw about 4.6 million DNS requests.

As the conference attendance grew and more briefings & trainings were conducted, the DNS volume also expanded rapidly. The team knew there has always been a large about of DNS traffic, but the visibility really shocked everyone with the amount of DNS look ups the network was handling. Interestingly, as the conference moved from Training into the Business Hall and briefings, the DNS queries dropped off precipitously.

Malware quickly rose to one of the top Categories, peaking at Number 3, before settling in at Number 7.

The network saw over 17 million DNS requests during the week.

Key takeaways:

  • Over 300,000 DNS queries were observed to domains known to be malicious or host malware
  • Over 12,000 queries went to Dynamically Generated domains
  • Over 7,800 newly seen domains were queried from Black Hat USA, many likely created for the express purpose of training
  • Over 6,800 domains were queried that had seen prior communication from known malicious samples in Threat Grid

Umbrella Investigate

Digging into some of the malware traffic with Umbrella Investigate, we were able to examine the infrastructure.

This included global DNS queries, WHOIS information and links to Threat Grid malware analysis reports for samples that have DNS queries to the domain.

The Threat Grid analysis report gave a summary of the behavioral indicators observed by the sample, with the ability to pivot to the full Threat Grid report that includes integrated threat intelligence, the ability to download the report, download the sample and interact with the sample in the ‘Glovebox’ feature.

We could also scroll down to the DNS query.

Threat Grid

Providing the network forensics was RSA NetWitness Packets. The RSA team brought in the pre-release code for v11 and added in the Cisco Threat Grid API key for dynamic malware analysis. It was an excellent beta testing environment. The SOC team placed NetWitness Packets into Continuous Monitoring mode, where .exe, .dll, .pdf, .doc, .rtf and other potentially malicious payloads were carved out of the network stream and underwent Static analysis, Network intelligence and Community lookup; before sent to Threat Grid for dynamic malware analysis and additional static analysis. RSA customers can register for a no-cost Threat Grid account within NetWitness, for up to five samples per day for ad hoc analysis.

Many of the samples seen were for trainings, with names such as: evil.exe, bot.exe, payload.exe, my_build.exe, drop.exe and master.exe.

Some interesting behavior was seen in a series of samples injecting code into memory.

I also noticed Remote IP Address Connected and investigated the network stream. Threat Grid is not just a “sandbox” for dynamic analysis, it is a threat intelligence platform that correlates the samples it has analyzed historically and globally. Investigating the IP address destination, we found that a several executables were related in the hard coded command and control (CnC) callback.

The bot.exe sample had similar behavior, but an elevated Threat Score due to the persistence mechanism in the registry.

Likewise, it had code injection into memory and CnC callbacks. Again, we found a family of samples with a shared destination.

Working with the NetWitness team, we were able to investigate the source to the samples and identify the bot.exe upload from a training event, and not an external or lateral attack.

This is the first year the Black Hat conference was completely wireless. The NOC team detected some rouge access points broadcasting the BlackHat SSID and other attempted spoofing. We were successful in our mission to provide a robust, stable and secure network for the Black Hat conference attendees, trainers, presenters and sponsors. I’m looking forward to going to London in December, for Black Hat Europe 2017.

Authors

Jessica (Bair) Oppenheimer

Director, Security Operations

Threat Detection & Response

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Sirius uses Cisco ACI to customize a new network for Boys Town

For 100 years, Boys Town has helped kids and families across the country. They offer homes for troubled kids, family counseling, medical services, and more.

To do all this, it literally takes a village. From their headquarters outside Omaha, Boys Town runs two hospitals, six clinics, and 60+ homes across 12 states. They also have their own schools, police and fire departments, and credit union.

Old networks, slow traffic, tight budget

That’s a lot of moving parts, all resting on the shoulders of two aging, mismatched networks. Boys Town dreamed of going digital, but their old networks were too slow to handle their current traffic, much less the cloud. And they worried that a private cloud might overwhelm their non-profit budget.

They needed some help of their own. And our partner Sirius Computer Solutions stepped up to help.

Sirius says…

Together, we came up with a solution to set Boys Town up for their second century. Rather than swap out new networks, they went with Cisco ACI, which lets them customize how their network works. We provided them with a Cisco design engineer, a primary engineer responsible for implementation, and a project manager.

A view of the village from their own private cloud

Now, Boys Town manages their own private cloud, all from one place. It lets them see what’s going on across their village—and beyond. They can even share network space with their partners, while keeping everyone safe.

The solution keeps costs down, so they can spend more money offering services to people who need them.

Our goal is to provide clients with the best network engineering expertise, technology, and support. This empowers clients like Boys Town to increase efficiency, productivity and competitiveness.

We at Sirius are proud to be part of the Village of Boys Town. They’ve done amazing things over the last 100 years. Here’s to the next 100.

Thanks, Sirius!

The story doesn’t end there.

To learn more about how Boys Town worked with Sirius and Cisco, download the case study.

More details on Cisco ACI.

More stories on what partners are doing around the world.

We want you on our team! To become a Cisco partner, click here for more info.

Meet other Cisco partners in our Cisco Partner Ecosystem.

Authors

Julie Colwell

Marketing Manager

Global Partner Marketing

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 The IT admin standpoint: What’s in it for me?

In the first part of this post we have seen that you can build a service catalog with all the enterprise features you need: multitenancy, role based access control, reporting, chargeback, approvals, etc.

But you can also offer (secured) access to the API to launch the workflow, offering a degree of autonomy for your consumers. Eventually, with a resources quota you avoid everyone being able to create dozens of VMs every hour if the capacity of the system can’t sustain it.

The IT Admin patrolling the infrastructure

 

If you allow your internal clients to self-serve, you will:

  • get less requests for trivial tasks that consume time and are not really that… interesting to do (let them play with it)
  • be the hero of the productivity increase (no requests pending in a queue)
  • spend your time and skills designing the architectural blueprint that will be offered as a service to your clients (so everybody will play with your rules)
  • use policy-based provisioning, so that you can define the rules just once and map them to tenants and environments so every deployment inherits them
  • maintain control on resource consumption and system capacity, hence on costs and budget
  • increase your relevance: they will come to you to discuss their needs, propose new services and collaborate in governance

The discussion above is valid for the entire infrastructure in the Data Center.
Now, I’d like to provide a couple of examples.

 

Example 1: provisioning a new server farm

A common example of automation workflow is the creation of a 4-hypervisors server farm.

A single workflow starts from the SAN storage creating a volume and 4 LUNs, where the hypervisor will be installed to enable remote boot for the servers.

Then a network is created (or the existing management network will be used) and 4 Service Profiles (the definition of a server in Cisco UCS) are created from a template, with an individual IP address, mac address and for each network interface.

Then, zoning and masking are executed to map every new server to a specific LUN and the service profiles are associated to 4 available servers (either blades or rack mount servers). The hypervisors are installed using the PXE boot, writing the bytes in the remote storage, configured and customized, and finally added to a (new) cluster in the hypervisor manager (e.g. vCenter).

All this process takes less than one hour: you could launch it and go to lunch and when you’re back you’ll find the cluster up and running. Compare it to a manual provisioning of the same server farm, eventually performed by a number of different teams (see the picture above): it would take days, sometimes weeks.

 

Example 2: network provisioning

This is the story of a customer that implemented automation specifically for the networking.

They were influenced by the trend about SDN and initially they were caught in the marketing trap “SDN means software implemented networking, hence overlay”. Then they realized the advantage provided by the ACI architecture and selected it as their SDN platform (it is software defined, thanks to the software controller and its powerful policy model).

Developers and the Architecture department asked to access the API exposed by the controller to self-provision what they needed for new projects, but this was seen as an invasion of the property.

It would have worked, but it implied a transfer of knowledge and delegation of responsibility on a critical asset. At the end of the day, if developers and software designers had knowledge in networking, specialists would not exist.

So the networking team built a number of workflows in UCS Director, using the hundreds of tasks offered by the automation library, to implement some use cases ranging from basic tasks (allow this VM to be reached from the DMZ) to more complex scenarios (e.g. create a new environment for a multi-tier application including load balancer and firewall configuration plus access from the monitoring tools, with a single request).

Blueprint designed in collaboration with Security and Software Architects

 

Graphical Editor for the workflow

 

These workflows were offered in a web portal (offered by UCSD out of the box) and also through the REST API exposed by UCSD. Sample calls were provided to consumers as python clients, powershell clients and Postman collections, so that the higher-level orchestration tool maintained by the Architecture department was able to invoke the workflows immediately, inserting them in the business process automation that was already in place.

Example of python client running a UCSD workflow

 

All the executions of the workflows – launched through the self-service catalog or through the REST API – are tracked in the system and the administrator can inspect the requests and their outcome:

The Service Requests are audited and can be inspected and rolled back

 

Any run of the workflow can be inspected in full detail, look at the tabs in the window:

The Admin has full control (see the tabs in the window)

I believe it’s worth spending some time (it does not take so much) in creating the automation: it will return  big value for both the organization and the individuals offering it.

References

Cisco UCS Director
Cisco ACI
ACI for Simple Minds
ACI for (Smarter) Simple Minds
Invoking UCS Director Workflows via the Northbound API

Authors

Luca Relandini

Principal Architect

Data Center and Cloud - EMEAR

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It’s hard to believe we’ve been shipping the Cisco RPHY (Remote PHY), standards based, products for two months already! It all started at ANGA.COM with the launch of Infinite Broadband, which included the cBR8 RPHY capability and a GS7000 RPD (Remote PHY Device).

Today we are pleased to announce that the Infinite Broadband solution has expanded to include an RPHY Compact Shelf. What!? A shelf? Yes, you read it correctly, a shelf. Let me explain a bit more; a shelf is an RPD that you can mount in a nineteen-inch rack in a hub site or head-end. The Cisco RPHY Compact Shelf will support up to six Service Groups and is only one RU in height. And that’s as small as it gets.

Why would an RPHY Compact Shelf be a good thing? If a Cable Operator or MSO has smaller hub sites with eighteen or less SG’s (Service Groups), you can use three of the RPHY Compact Shelf units in the hub site instead of a cBR8 and be done! That’s three RU’s compared to the thirteen RU’s of the cBR8. So, from a footprint perspective, you need a lot less space, and your power and cooling requirements would drop too.

If you have multiple smaller hub sites, assume sixty-four SGs in total divided over three hub sites, that means roughly eleven RPHY Compact shelf units, and we only need one cBR8 to support the sixty-four SGs. So in total, you’d need twenty-four RU compared to thirty-nine RU of space. You don’t have to be a rocket scientist to work out the math; this reduces the TCO significantly. As we start to grow the number of SG’s supported on a cBR8 you can imagine the impact to overall TCO! And we’ll be doing this soon via a software upgrade. (Ask your Cisco representative for more details.)

This is our Hub Site Consolidation solution; the diagram shows it in action.

 

And yes, the two differentiators that we discussed in May still apply.

The RPHY Compact Shelf uses the Cablelabs® OpenRPD open, standardized software, which allows cable operators to select a Remote PHY device (RPD) vendor that best meets their needs, without being locked into a single vendor’s proprietary solution. Cisco contributed their open software to the Cable Labs OpenRPD forum and its ecosystem of RPD vendors in 2016.

The RPHY Compact Shelf will also work with our RPHY deployment automation software based on model-driven network configuration protocol (NETCONF) and YANG technology. Cisco’s vendor-agnostic cable automation software ensures that the new Remote PHY devices can be easily and automatically provisioned, resulting in significant savings over existing manual provisioning solutions.

To find out how the  Cisco RPHY Compact Shelf would work in your network, please reach out to your Cisco representative.

To find out more about our Infinite Broadband solution, visit the cable access solution page on cisco.com or download our Road to Cisco Infinite Broadband E-Book today.

Authors

Daniel Etman

Product Marketing Director

Cisco's Cable Access Business

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I’ve always been emotionally connected to the work I do because it changes people’s lives, which manifests into a deeper level of commitment and passion for my work.  Throughout my career, I struggled to find a company that was able to share those same sentiments….until now.

With Cisco, I no longer have to worry. We’re in this together.

Three years ago, a friend approached me and asked if I would be interested in a Contract Recruiter role at Cisco.  I wasn’t looking for a new job at the time, but I’m always willing to listen to someone’s pitch about their career opportunity.  So, I listened, and I liked what I heard. I interviewed, and I was offered the job.  The “easy” part was done. Next, fear and anxiety crept in as I pondered accepting the offer. Immediately, I started seeking validation from people at all levels in my personal and professional life, “Am I doing the right thing? Should I make this move?”

At the time, I was enjoying a productive nine year career with a company where I was promoted steadily, had strong relationships, made a good salary, worked from home occasionally, and had a good team.  On the surface, it appeared to be a great job.  But, the reality was – it had been nine years, and I was out of growth opportunities as a recruiter there.

More importantly, with recent Leadership changes and departures from the team, the culture had changed so much that the team I was committed to and invested in was almost unrecognizable.

I started to wonder, “Do I really have everything I wanted in a role, team, and organization? Am I doing purpose driven work that inspired me, with the best team and resources? Is there something more out there for me?”

I knew the answer.

Yes, a big life change was scary. But through this fear – there was something about Cisco that was speaking to me and I needed to listen. It may have been easier to stay where I had comfortably been for nine years – but, I had done all the growing I would do there. It was time to continue the journey.

If you love what you do, it never feels like work – it’s something we’re all accustomed to hearing, and I’m a true believe in that mantra! Never has that resonated more with me and I attribute this to the Cisco culture and my incredible TEAM.  At Cisco, the culture is about the people, innovation, and changing the world through technology.  I’m empowered to foster my creativity, and pursue interests that I’m passionate about, both personally and professionally. Cisco also encourages me to pursue my ideas and apply them to my work, team, and the clients I support.  This culture and this company is where my passion intersects with action and gives me purpose.

And as if that wasn’t already enough to make me love where I work –  I also get to work on an incredible team! When I think of the greatest teams of all time, I imagine my team right alongside the 1972 Miami Dolphins and 1998 Chicago Bulls.  Okay, it’s a little different – but if anyone ever tries to tell you Sales Recruiting isn’t a sport, they’ve never had to chase down a VP for an offer approval, an hour before a candidate is jumping on a plane to travel to a remote part of the world where there’s no cell phone coverage.  As perimeter defenders, Executive Assistants and Financial approvers give Scottie Pippen a run for his money. 😀 The power of a great team will make history and change the world – and my team is doing exactly that.

We’re also the embodiment of Cisco’s values:

  • We change the world – one hire at a time
  • We win together – From Leadership down, we’re in it together
  • We make innovation happen – collaboratively and decisively
  • We focus intensely on our customers – our beloved Sales organizations
  • We respect and care for each other – no one person is greater than our team
  • We always do the right thing – always

How could you not be excited to work alongside such all-stars each and every day?

I’m so glad I didn’t allow fear to win three years ago, and that I took that leap of faith out of my comfort zone to come live the Cisco life!  I’ve never felt more at home, inspired, and motivated in my career – and it gets better every day. When I look back, I see that perhaps there were things missing in my career previously – but now I have everything I ever dreamed about, and you can too!


Want to join a company that challenges you to grow?  We’re hiring!

 

Authors

Frances Bettis

Recruiter

Talent Acquisition, AMS Sales

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We are at the beginning of the Fourth Industrial Revolution and entering a new era of digitization, which is rapidly disrupting how we live, work, and relate to one another. Today’s technologies, including artificial intelligence, the Internet of Things (IoT), and Cisco’s recently launched new intuitive network are connecting everything and everyone in the physical, digital, and biological spheres.

These interconnected solutions are transforming entire industries, creating new business models and competitors, and doing so at an unprecedented pace; disruption that used to take decades can now happen in a matter of months. Ordering a cab, booking a flight, making a payment, and watching a film all can now be done remotely and quickly, increasing the efficiency and pleasure of our personal lives. Entire industries, including transportation and accommodation, have transformed before our very eyes and businesses in the digital age are constantly reinventing themselves.

 

This new digital era is transforming technology itself at an incredible pace, and changing the nature of jobs. In tomorrow’s technology landscape, everything will be connected, as well as software-based, automated, and data-generating, meaning everything will need to be secured. Solutions in this era must be constantly learning, constantly adapting, and constantly protecting users and their data.

These solutions require employees with new skills. Research shows that 1.4 million full-time employees, and an additional 300,000 entry-level full-time employees, will be needed to deliver application and business services for the Internet of Things (IoT) by 2020.[1]

While technology-based solutions adapt to this digital era, the demand for skills in new areas like security, machine learning, and artificial intelligence, is increasing. New approaches will be required to develop the volume and uniqueness of skills and competencies required, and this is also changing the future of education. To prepare the talent needed for the digital economy, education must adapt as fast as the demand for IT skills is growing and evolving.

Current education cost models can be prohibitive, which is challenging the whole education system as it’s developed to this point. Changes in the technology landscape mean students need to master new skills and new ways of working. Learning must now be dynamic, multidisciplinary, digital, relevant, and provide hands-on experiences that prepares students for the continuously evolving needs of today’s employers. Today’s students also want to learn at their own pace, and at the time and location of their own choosing, and learning has changed to become more personalized and flexible.

All of these trends combined, the Fourth Industrial Revolution, a changing technology landscape, and an evolving education system, is, unfortunately, exacerbating the current mismatch between the skills employees have and the skills companies need. Too many people are unemployed, while employers and CEOs struggle to find the right mix of talent to fill new job profiles that will help them remain competitive and relevant in the digital era.

According to the U.S. Bureau of Labor Statistics, more than 7 million people across the country were unemployed in March of 2017,[2] though 5.7 million unfilled jobs were available.[3] Nearly half of U.S. employers can’t find qualified candidates, with many citing a lack of technical skills as a top reason.[4] In the IT industry that number is worse, with 86% of hiring managers challenged to find people with the right skills.[5]

Employers today want workers with hands on experience, and a balance of technical skills, such as coding, software, and networking, as well as non-technical skills, including business understanding, problem-solving, and innovative thinking. With technology changing so rapidly, businesses need employees that know how to deal with change, that collaborate well with others, and those that love to continuously learn.

All of these influences – the Fourth Industrial Revolution, tomorrow’s technology landscape, and the future of education – are driving Cisco to transform both the learning portfolio strategy and platform strategy of the Cisco Networking Academy.

Cisco Networking Academy is a world-leading IT skills and career building program that addresses the growing need for IT talent by equipping students with entry-level IT and 21st-century career skills. The program is based on partnerships with over 9,600 community colleges, universities, governments, and other organizations, implementing the program across 170 countries.

Our global impact includes providing IT education to more than one million students each year, 6.9 million students since 1997. To address the growing skills gap, the Networking Academy curriculum builds a solid digital foundation through courses like Cybersecurity Essentials and Programming Essentials in C++. We constantly develop new courses to keep our curriculum relevant, such as IoT fundamentals, a new three-module course that covers big data and analytics, connecting things and rapid prototyping, all relevant to some of the fastest-growing job areas.

Our learning portfolio strategy, the material we create and teach, has also been updated for the new digital era. While the network is now even more foundational, literacy in coding, security, and data will be essential for all. We’ve broadened our cyber domain to include cloud security, security audit, and digital forensics topics and have introduced automation, machine learning, and artificial intelligence literacy to better prepare our students for today’s jobs.

We have also transformed our delivery platform, which is how we teach and deliver the Networking Academy program. Our platform is a next generation Cloudscale architecture with a Devops approach and continuous integration in the environment.

Our platform’s use of big data provides improved analytics and insights that help us optimize both the learning experience of our students, providing formative feedback as they study, as well as providing insights and metrics for our Networking Academy program. In addition, the platform is evolving to support a range of modalities (online, offline, intermittent, low bandwidth) scaling across the globe and interoperating with other Learning Management Systems (LMS).

The future of Networking Academy is anchored in the future of the Cisco Network. Cisco recently unveiled a new era of intent-based networking, The Network Intuitive, which is powered by intent to automate and scale in just minutes, and informed by data and analytical context. The Network Intuitive learns and reacts and is the only network that provides security while maintaining privacy, solving a previously unsolvable dilemma.

The Cisco Networking Academy is developing the skills needed for a new era of technology professionals, working in a connected future, with an intuitive network. Our program continuously introduces new digital skills, adapts to trends in education, and allows individuals to learn anytime, anywhere, together. We are improving learning experiences and outcomes, to develop talent truly capable of transforming businesses and powering the Fourth Industrial Revolution.

[1] Gartner, 2016: Cisco Digitization/IoT Entry Level Jobs

[2] US Bureau of Labor Statistics http://www.bls.gov/news.release/empsit.nr0.htm

[3] Job Openings and Labor Turnover Survey Highlights May 2016: http://www.bls.gov/web/jolts/jlt_labstatgraphs.pdf

[4] 2016 Manpower Talent Shortage Survey – http://manpowergroup.com/talent-shortage-2016

[5] 2016 Indeed Technology Talent Survey http://blog.indeed.com/2016/12/05/impact-of-tech-talent-shortage/

Authors

Harbrinder Kang

VP

Corporate Affairs

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Once adversaries have found a method for breaching network defenses, stealing data, or otherwise generating revenue, they’ll continue to refine these tactics to avoid detection and improve effectiveness. Ransomware, one of the more high-profile tools leveraged by adversaries, has undergone this same evolution, as we explain in the Cisco 2017 Midyear Cybersecurity Report. Delivery, obfuscation, and evasion are the core elements currently driving malware innovation—and many of these innovations, in turn, drive the use of ransomware by actors in the shadow economy.

Here’s a quick look at some of the key trends in ransomware we’ve observed during the first half of 2017:

RaaS platforms

Ransomware-as-a-Service (RaaS) platforms, such as Satan, are becoming commonplace, significantly decreasing the “barrier to entry” for threat actors who want to get into the ransomware business without doing the hard work of programming, or amassing network resources. The operators of the RaaS platforms take a portion of adversaries’ profits, similar to the way in which many legitimate software platforms work. Some of the operators even provide additional “customer service,” such as deploying the ransomware and tracking the progress of ransomware distribution campaigns over time, making it even easier for threat actors to launch and manage their ransomware campaigns.

Open-source codebases

Open-source ransomware codebases are also being leveraged by adversaries to help them launch new ransomware campaigns quickly. As covered in the MCR, several open-source ransomware codebases such as Hidden Tear and EDA2 have been released publicly “for educational purposes” Threat actors can simply tweak the code to suit their specific objectives and then deploy the malware to launch ransomware attacks. We know that this is a strategy used by some adversaries: many of the supposedly new ransomware families that Cisco has recently observed appear to be directly based on these open-source codebases.

Anonymized, decentralized infrastructure

In a bid to stay below the radar as their attacks find new victims, creators of ransomware and other malware campaigns are also leveraging new techniques for evading detection by defenders. One such technique is the use of anonymized and decentralized infrastructure and network protocols that can obfuscate command-and-control infrastructure. Cisco researchers have noted an increase in the use of services that leverage Tor, such as Tor2Web, which makes it easier for bad actors to use Tor without changing their malware code to natively support it. This also makes the command-and-control infrastructure more difficult to track and makes it more resilient to server takedowns.

A re-embrace of email as an attack vector

Another ransomware-related trend observed by Cisco and covered in the MCR: An uptick in spam volume globally, which parallels a decline in exploit kit activity. Emails with password protected Office documents, or PDFs containing embedded documents may require recipients to interact with the files, such as clicking “OK,” or inputting a password before any malicious activity is encountered which can help the messages bypass sandboxing technologies.

RDoS attacks

Some adversaries are also experimenting with extorting victims using the threat of distributed denial of service (DDoS) attacks. In these attacks, dubbed ransom denial of service (RDoS), the perpetrator threatens to disrupt the victim’s website or other services using a DDoS attack unless a ransom is paid. According to research by our partner Radware, nearly half of all companies suffered at least one cyber ransom incident in 2016—either a specific ransomware attack, or an RDoS attack (17 percent).

Radware research also shows that a cybercriminal group called the Armada Collective have been responsible for most RDoS attacks to date, with ransoms demanded ranging from 10 to 200 bitcoins (about US$3,600 to US$70,000).

Given the cleverness of adversaries, defenders can’t assume that when they’ve blocked one type of threat, bad actors won’t figure out a way around their defenses. As the Midyear Cybersecurity Report makes clear, staying a step ahead of this innovation is key to outwitting attackers.

Read more about ransomware and other attack trends in the Midyear Cybersecurity Report.

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The value of seniority in traditional organizations is less about accumulating vacation days and more about knowing how to get things done and who to go to for what. In the past, this “tribal knowledge”—information and experience from veteran employees—was buried in hard drives or only passed down firsthand.

 

Today, collaborative technologies are allowing financial institutions to become more flexible by documenting, accessing, and leveraging the collective knowledge of many people across global locations.

In my last post I wrote about how banks can use collaborative technologies to move away from the quicksand of email. Agile processes and flexible workspaces are two more benefits of workplace transformation that can help banks better use their greatest asset: their people.

Think past the process

According to Fast Company, the average company loses more than 25% of its productive power to organizational drag: processes that waste time and prevent people from getting things done. Nowhere is this truer than inside large financial services institutions.

Problems arise when the process becomes more important than the result. This is one of the primary issues at the root of organizational drag and the slow-to-innovate nature of financial services. Like any system that carries more weight than it was designed to bear, financial services reels underneath layers of processes created in response to a decade of regulatory changes and compliance requirements.

The result of process overload is that employees spend lots of time communicating about the minutiae. There’s less time to innovate or think about the way work is done, including looking at what other lines of business are doing, to know if there are more efficient and effective ways of accomplishing strategic goals.

How can banks become more agile?

Collaboration technology can help peel away those layers. Through collaboration, banks can develop greater business agility by breaking down the silos that naturally develop around lines of business, and by identifying better ways to work inside today’s challenging regulatory environment.

59% of enterprises surveyed by Dimension Data say that collaboration technology has met their expectations for making business processes more efficient. Another 20% say it has exceeded expectations.

Lines of business could benefit from collaboration platforms that encourage collaborative decision-making in a number of ways:

  • Increase opportunities to communicate outside your immediate team to understand what projects other lines of business or workgroups are involved in
  • Discuss the reasons why processes exist and how they can be better
  • Enlarge the discussion to include a greater collective knowledge
  • Move communication from email to collaborative technology. This helps ensure that everyone is included, lets you know who is informed and allows new group members to quickly get up to speed—through one easily searched conversation thread
  • Avoid duplication of work and unnecessary work by involving people from multiple areas of the bank to share knowledge
  • Reduce the number of meetings and increase productivity as employees work on projects in a more fluid, natural manner during times that work best for them

Insurance attracts Millennials with flexible workspace

Insurance firms struggle to recruit Millennials. Research conducted in 2015 by The Hartford reveals that only 4% of people between the ages of 18 and 34 say they’re drawn to insurance as a career, with many describing the industry as “boring.”

Many companies have introduced greater flexibility with remote, work-from-home options. Flexible workspaces also promise greater appeal to a younger generation of tech-savvy employees.

Large U.K.-based insurance provider RSA Group has laid the foundation for employees to connect to each other via Wi-Fi at any place, anytime, on any device. Employees can roam between floors without losing connections, log into any desk phone to personalize it, and choose a quiet room in the morning and a team room or coffee shop in the afternoon.

 

“We wanted to change the culture.”

James Sandell, Group IT Delivery Director, RSA Group

 

The shift toward flexible workspace also saves money by using assets more efficiently. RSA Group can predict the change in space requirements when a percentage of employees will be out of the office due to remote work options.

  • Before RSA Group introduced a flexible workspace, approximately 10 percent of the desks were unoccupied at any given time. Now the desks are fully occupied, with one desk for every 1.3 people.

Learn more about the RSA Group success story in this quick video case study:  

 

Trailblazing: Cisco’s own workplace transformation

Like RSA Group, Cisco has recently upgraded our own workspaces. We couldn’t call ourselves experts on workplace transformation before living it ourselves. One of the initiatives we undertook included flexible workspaces with activity-based “neighborhoods” that provide choices of different work environments.

We also integrated collaborative technology, installing ubiquitous wireless so that users could choose to work on any device in any location. We digitized every building with the internet of things sensors that monitor who is on the campus and occupancy sensing to understand how to best use our space.

Cisco achieved tremendous cost savings and improved employee satisfaction through our workplace transformation efforts:

  • Even though the workforce has increased 20%, real estate portfolio has decreased 30%
  • 17% increase in employee engagement
  • 17% increase in workplace satisfaction
  • 15% increase in work/life balance
  • 11% decrease in safety incidents
  • 72% of new hires stated that the workplace had a positive impact on their decision to work here

 

What’s next?

These are the kind of transformations necessary to better work across lines of business and perhaps even to reinvent the banking model we know today. Financial Services cannot look to the future while grounded in process and stuck in an isolated position behind a desk, drowning in email.

Learn more about how collaborative technologies can unify your workforce and free up space: 

Team Collaboration

Flexible Workplace Design

Cisco Workplace Analytics


For more information on Cisco Financial Services please visit us at www.cisco.com/go/financialservices

 

Authors

Kami Periman

Financial Services Subject Matter Expert

Marketing & Communications

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Guest Blogger: Matthew Marden, Research Manager, Business Value Strategy Practice, IDC

Matthew Marden is a Research Manager on the IDC Business Value Strategy team. He is responsible for carrying out custom business value research engagements and consulting projects for clients in a number of technology areas with a focus on determining the return on investment (ROI) of their use of enterprise technologies.

 

From speaking with hundreds of organizations each year, IDC knows that organizations are rapidly recognizing that their ability to grow and provide superior services and products depends on prioritizing and executing a Digital Transformation strategy.

However, the progress of their digital initiatives depends on interlocking and aligning IT to business decisions, and lack of network readiness in particular can grind progress to a standstill. When network infrastructures remain fragmented, manual, and hardware-centric, they cannot deliver the agility, security or performance businesses require. This results in operational inefficiencies, intolerable risk and squandered opportunities for growth.

By contrast, IDC’s research shows that organizations that have invested in digital upgrades to their networks overcome these limitations and realize significant value in the form of higher revenue and operational efficiencies. These organizations have evolved their networks to a more open, software-centric approach. They have begun leveraging automation and analytics  innovations to provide the performance, agility, and security they need today and will need in the future.

Organizations interviewed by IDC that have implemented more  advanced networks are already seeing the fruit of their efforts: IDC’s research shows that they are improving IT and business outcomes and quantifiably improving their business results. Here are a few of the findings I found especially compelling:

  • Accelerate digital business initiatives. Interviewed organizations with more advanced networks can deploy business-impacting digital initiatives in less time. We found that by increasing network performance through automation, organizations not only enhanced time to market for new applications but also were able to realize significant gains in the number of new applications developed and deployed. And on average, companies reduced the time to bring a new branch online by 52%. For example, one customer says that “We’re at least twice as efficient now. Before, it would take us 16 hours. Now, we can do it in 5 hours”.
  • Address business opportunities. Organizations with more advanced networks can act with more agility and innovation, which improves their customers’ experiences. The organizations interviewed were able to reduce the time to market for new services 
by an average of 41%, 
An interviewed manufacturer attributed $10 million per year in additional revenue to developing and producing  its products more quickly thanks to higher network stability and availability, remote management capabilities, and centralized management.
  • Reduce risk. Organizations with more digital-ready networks leverage improved performance and analytics to reduce operational and business risk. This can create a positive feedback loop in which improved reliability and security enable organizations to move forward with their Digital Transformation initiatives, thus driving even more organizational value.
  • Become more cost-effective and efficient. Organizations have become more efficient and reduced costs by upgrading their networks to take advantage of virtualization, automation, and orchestration. For study participants, this meant an average cost reduction of 43% for physical network infrastructure costs, and 30% in terms of staff time costs associated with deploying, supporting, and managing network systems.

So, what does this mean for you? We believe it means that you should consider whether your network is genuinely enabling your business, just keeping up with it, or becoming an obstacle to growth. In the context of deciding to make your organization’s network more digital-ready to tap into the value described above, this will require taking the following steps:

  1. Begin by understanding your organization’s digital business priorities 
  2. Assess your organization’s level of network readiness
  3. Plan your organization’s digital network journey to align to business priorities 

You now have the opportunity to redefine the role of networking in support of your company’s businesses. However, doing this will require executing on a vision that aligns network technology and capabilities with business priorities, and leveraging technologies that will make your network more open, automated, and software-centric.

I recommend IT leaders take a few minutes to begin understanding how the latest network advances can deliver business value to their organization. Read the new IDC InfoBrief here.

 

Authors

Pankaj Gupta

Director, Market Management

Enterprise PSM - Portfolio, Software, and Campus Switching