Due to changes in the cyber security landscape, traditional firewalls on the port level are no longer effective at managing traffic. Malicious traffic has the capacity to enter any open port, which provides great risk to firm security. Next-generation firewalls work further than port-based firewalls by adding application inspection and intrusion prevention. Next generation firewalls have the ability to scan traffic as it enters and leaves the network, therefore stopping potential threats.
Eze Castle Integration is increasingly implementing Palo Alto next-gen firewalls for our hedge fund and alternative investment firm clients. Palo Alto is not only a next generation firewall but it is also the market leader based upon ratings, support, pricing and overall performance. A Palo Alto firewall has the ability to detect what traffic is doing and immediately stop threats from spreading by distributing protection.
Unknown traffic is analyzed by Palo Alto Wildfire, where new threats are identified and protections are simultaneously developed. Upon the discovery of an unknown threat, the threat is not only blocked but updates are sent to all global subscribers within five minutes to be able to stop them from spreading. Due to this feature each threat and its variants are blocked without having to go through the analysis process again. Through Wildfire information is also fed through a filter which allows for automatic blocking of any correlated threats.
Older port-based models do not detect what traffic is doing, therefore allowing threats to port hop until they find an open port in which they can enter. Viruses are not port specific and can therefore utilize any port. Without analyzing what traffic is doing threats can easily bypass a port-based model.
The current threat landscape is such that security threats are more likely to arise from within your network as opposed to external sources. Internal users opening malicious emails or becoming victims of phishing schemes are now preferred methods for attackers. The next generation capabilities of the Palo Alto firewalls allow for deep application level inspection to detect and thwart these threats from opening backdoors to your network.
Additional Advantages of Next Generation Firewalls
All-in-one functionality: Next-generation firewalls bundle traditional firewall functionality with intrusion prevention, antivirus and protocol filtering.
The new Apple iOS version 10, that was released today, delivers some cool new features but before jumping in we recommend you review the following upgrade steps.
Here’s why. As with any major update, there can be risks associated with early adoption until issues are uncovered and Apple has the time to debug and fix them. Eze Castle Integration has learned of some significant potential issues including risk of data loss due to incompatibilities with mobile device management (MDM) applications.
So here’s a critical to-do list before starting the iOS 10 upgrade.
FIRST - BACKUP
Backup your device. Always take a backup before updating your device.
1. The best way to do this is via WiFi at night when the device is also plugged into a power source (computer or electrical outlet). iCloud will back up your device on its own if configured correctly and provided you have enough storage. To ensure this is occurring, launch the Settings App -> iCloud -> Backup and see what it says next to “Last Backup:”. If it only states a time, then it means it backed up today and no further action is needed. If it says a date, you can back up the device by clicking “Back Up Now”. (Note: WiFi is required to back up this way). If this fails, you can back up to iTunes (see next bullet) or clients can call ECI’s Help Desk for assistance.
2. Alternatively, you can backup using iTunes. Plug the device into a computer, launch iTunes, right-click on your device and click “Back Up.”
Manually backup passwords. Ensure you know your iCloud passwords, iTunes Store password, email passwords and any other critical passwords. Write them down and test them. Then safely and securely discard that information. As a best practice, there are secure password storage applications available through the App Store.
Copy anything you can’t live without. Backup anything (i.e. photos) that you cannot live without. Do so in a way that you can verify the backup easily. One option is enabling iCloud Photo Library so you can access copies of your photos on all your other iOS devices.
On Thursday, August 25, Apple released iOS 9.3.5, the latest version of its iOS and one that should not be ignored. This update addresses multiple security vulnerabilities – namely three iOS flaws that cybercriminals or governments can use to steal confidential messages and eavesdrop using your device’s camera and microphone. It is recommended that all iOS devices be updated immediately.
The Story Behind Uncovering the iOS Exploit
The story behind the discovery of these iOS exploits provides a glimpse into the lucrative world of cyberwar and cybercriminals.
It all started when an internationally recognized human rights defender, Ahmed Mansoor, received two suspicious SMS text messages with hyperlinks. Mansoor identified the messages as questionable and forwarded them to researchers at Citizens Lab and Lookout Security for investigation.
Citizens Lab and Lookout, according to their report, “determined that the links led to a chain of zero-day exploits (“zero-days”) that would have remotely jailbroken Mansoor’s stock iPhone 6 and installed sophisticated spyware.” This spyware, known as a government-exclusive “lawful intercept” product, would have made Mansoor’s phone “a digital spy in his pocket” able to use the iPhone’s camera and microphone to monitor activity near the device. It also would have allowed for recording of his WhatsApp and Viber calls, logging of messages sent in mobile chat apps, and tracking of his movements. Scary stuff.
Phishing at Its ‘Finest’
According to a Lookout Security blog post, "the attack sequence, boiled down, is a classic phishing scheme: Send text message, open web browser, load page, exploit vulnerabilities, install persistent software to gather information. This, however, happens invisibly and silently, such that victims do not know they've been compromised."
If you haven’t already, now might be a good time to check out the Eze Managed Phishing and Training Service (after you update your iPhone of course).
What did Citizens Lab and Lookout Security Do?
On Monday, March 21st at its California headquarters, Apple unveiled a new iPhone and iPad, as well as announced improvements to current products. Fittingly, CEO Tim Cook also discussed security at length – not shying away from concerns resulting from the current fight with the FBI. "We believe strongly that we have a responsibility to help you protect your data and protect your privacy. We owe it to our customers, and we owe it to our country,” he said. The key takeaways from the event are summarized below.
The 4-inch iPhone SE
The new iPhone was introduced as having all the power of the iPhone 6s, but with the aesthetic of the iPhone 5. The reason, said Apple VP Greg Joswiak, is simple: “For some people, they simply love smaller phones.” With a $399 price point, analysts believe that the new phone is Apple’s attempt to penetrate the fastest-growing markets of India and China, specifically “prepaid consumers who cannot afford, or are not familiar with, bigger screen smartphones,” said Neil Mawston, an analyst at Strategy Analytics.
The iPhone SE promises an A9 processor with faster LTE and Wi-Fi speeds, better battery life, 4k and 240 fps slow-mo video recording, live photo support, and Apple Pay. The 16GB model, as well as a 64 GB model for $499 go up for pre-order on March 24, 2016, with the first units shipping March 31, 2016.
9.7 inch iPad Pro
The “baby brother” to the 12.9 inch screen iPad Pro that some consumers deemed too large, the new 9.7 inch model is roughly the same size as the iPad Air 2 but with features like Apple Pencil, Apple’s Smart Keyboard, a 12 MP rear camera with 4K video recording and live photo support, and a 5 MP front-facing camera. In addition, the screen of the new iPad pro will be 40% less reflective than that of the iPad Air 2, but will be 25% brighter.
A feature called “True Tone” will benefit designers by constantly checking the lighting of the room and adjusting accordingly for color accuracy. Three models will be available for pre-order March 24, 2016: the 32GB for $599, 12GB for $749, and 256GB for $899.
The following is the second excerpt from our new whitepaper, Launching a Hedge Fund: 10 Keys to Success. To read part one, click here.
Develop an IT budget for your first 2-3 years.
Operating capital may be limited in the first few years after your launch, so careful budgeting and long range planning will serve your firm well. Your information technology budget should include priorities and figures for at least two to three years, including infrastructure/hardware and software requirements. Some questions you’ll want to consider:
How many offices are you launching with? Do you plan to open additional offices in the near future?
How many users do you have on day one? How many can you expect to have in years 2 and 3?
Where are your offices located? Are there cost differences between domestic and international offices?
What are your trading practices and how does this impact your budget?
What kinds of systems do you need? (Order Management, Portfolio Accounting, Risk Management, CRM, etc.)
Ensure your technology budget coincides with your firm’s growth plan. Do you expect to grow quickly? Open new offices? Expand internationally? You will need to account for these changes.
Understand hedge fund regulations and how they affect your firm.
Governmental oversight of the financial industry has evolved dramatically in the last decade. Hedge funds, private equity firms and registered investment advisers now operate in a world where they are beholden to regulatory bodies with growing expectations and requirements. When launching your hedge fund, you’ll need to be clear up front with any responsibilities you may have to any applicable agencies – in the United States, that means the Securities and Exchange Commission (SEC). Are you required to register? If so, represent your firm accurately and be descriptive of your operations. If not forthcoming, you may open up your firm to serious regulatory and criminal prosecution.
Categorized under: Launching A Hedge Fund Cloud Computing Security Disaster Recovery Hedge Fund Due Diligence Hedge Fund Operations Hedge Fund Regulation Infrastructure Communications Outsourcing Business Continuity Planning Software Trends We're Seeing
In today’s competitive market, research management software (RMS) has become a must-have integrated feature for investment management firms. Significant benefits offered via RMS have caused a ripple effect of soaring adoption rates across the global investment industry. In this article we’ll examine how adopting a research management solution could benefit your firm.
With offices, colleagues and clients spread across the world, firms need to consolidate data in an organized fashion. From meeting and call notes, to audits and analyst reports, the demand for readily accessible information is ever burgeoning. Storing information within multiple programs and folders not only welcomes disorder and the opportunity for digression in the workplace, but also increases costs and wastes valuable time. This prehistoric method of aggregating data has been replaced with advanced RMS, a much more viable, flexible and comprehensive solution. Hosting a firm’s data within a user-friendly, central repository simplifies processes, optimizes productivity and uncovers new business opportunities. When selecting a RMS, managers may consider a generic or industry-specific product. While both options present benefits, the latter assimilates seamlessly with an investment firm’s daily workflows, terminology and diverse range of data. An ideal RMS will also offer customization, accessibility and integrate with other applications, such as Outlook.
Mobile devices have transformed the way we manage our everyday lives: from how we track our bank accounts, to interacting with friends and family to booking travel, and so on. Everything you need is at your fingertips, but are you taking the proper security measurements to protect your device? Below are a few tips to help keep your smartphone’s data safe.
Set a Password: When you do not set a password to lock your phone, anyone who obtains possession of the device has instant access to all of your apps that automatically log-in upon launching. This is a simple security measure to take and yet, according to Consumer Reports' annual State of the Net Survey, only 36 percent of smartphone owners have a passcode. From a business use perspective, any device that accesses corporate email or networks should have a complex password and be managed by mobile device management tools such as AirWatch or Good Technology.
Mobile Security Apps: Looking to the future, we expect the adoption of mobile device security apps that provide antivirus, privacy and anti-malware protection to increase. And for good reason. According to the June 2014 McAfee Labs Threat Report, mobile malware has increased by 167 percent in the past year alone. Companies, such as AirWatch, aim to ensure your enterprise mobility deployment is secure and corporate information is protected with end-to-end security.
Traveling with electronic devices puts personal and critical business information at risk. As we embark on the busy holiday travel season, we decided to share some useful tips to help prevent your data and devices from falling into the wrong hands. Here are our top 10:
Back up Your Data Before You Leave: Prior to traveling, back up data that is stored on your device(s) onto media that will not be taken with you on your travels. For example, on a storage card, cloud, or computer, if you are not bringing the latter device on your trip. Furthermore, ensure you do not have social security numbers, passwords, credit card information and other sensitive data stored on your devices. If you do, save this information in a more secure place and remove it from your portable devices.
Travel Light: If you do not need it, do not bring it on your trip. Only devices that are necessary should accompany you while traveling.
The following article originally appeared on HFMTechnology.
Although we are faced with change on a daily basis, especially in the hedge fund technology industry, keeping pace with ongoing tech metamorphoses does not come easy for everyone. Fear, the biggest contributor of hesitancy toward change, masks the opportunities innovation presents. Fear is what leads to IT limbo, and in an ever-evolving technology landscape, this effect can be crippling. However, with the support of expert IT service providers, the pains and fears of migrations and upgrades are alleviated.
In this article, we’ll examine the recent end-of-life (EOL), of operating system (OS) Windows Server 2003, its resultant challenges and how to overcome them.
Doing Nothing and Risking Everything
Windows Server 2003 extended support ended on July 14, 2015; however, not all users have made the transition to Windows Server 2012 R2. Why are firm’s remaining on an out-of-support OS?
The primary influencers are fear and a lack of sense of urgency to replace a still functioning OS. In the case of users still utilizing the legacy application, the risks they face largely outweigh the benefits. By doing absolutely nothing, firms are risking everything. As patches and bug fixes are no longer being provided, hackers have an unguarded entrance to access a firm’s sensitive information, passwords and banking accounts. This not only increases the firm’s odds of being hacked, but also raises the gravity of ensuing damages should an incident occur.
Additionally, if a firm’s network does crash that’s still deployed on Windows Sever 2003, the odds of finding expert support become increasingly limited with each passing year. This is predominantly due to the industry’s forward marching nature. An outdated system will only continue to fall behind in the race of technology, trouble shooting will take longer, future applications will fail to run, or crash the server altogether, and the cost to migrate increases concurrently as the pool of experts shrinks.
The bottom line is change is inevitable, and eventually 2003 will reach a point where the surrounding ecosystem won’t work with 2003 servers. Ultimately, MS will make it so the OS becomes inoperative as the company continues to evolve. So what can we do?
Transparency is the buzzword and, rightly so, investors expect it -- make that, demand it. As a result, nearly every hedge fund product is touting its ability to provide greater, faster, better transparency. I’ll try to avoid that in this post and instead focus on a budding buzz-phrase – investor relationship management or hedge fund CRM as we like to call it.
Yes, I know everyone’s heard of Salesforce.com, but we’re talking about a CRM application that is built specifically for hedge funds. As a tool that supports investor relations, a hedge fund CRM gives funds the ability to centralize all of their investor data, including contacts, documents and correspondence while also allowing investors to access fund information at any time, including transaction history, account balance statements and other investment data.
Categorized under: Software