Cyber & IT Supervisory Forum - November 2023

Take-Aways from the Q&A

Implementing Compensating Controls during the MOVEit / Progress Software Zero Day

API Security / Framework

Software Supply Chain / TPRM

Supporting Awareness and Resource Sharing

Security Strategies for Smaller Banks

AI Cybersecurity Resources

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MOVEit / Progress Software Zero Day Compensating Controls

•Mitigate risk (during patch development) against unauthorized access, data theft, and ransomware infiltration. •Restrict Internet Traffic: If compatible with business operations, proactively block non essential HTTP/HTTPS traffic to MOVEit Transfer. This action is a critical step in mitigating the risk of internet-sourced threats.* •WAF Implementation: Deploy a Web Application Firewall (WAF) to filter incoming traffic for services that require internet connectivity, ensuring only legitimate traffic reaches MOVEit Transfer. •IP Whitelisting: Limit internet-facing service access to pre-approved IP addresses, enhancing security by allowing only known entities to connect. •MFA Enforcement: Implement Multi-Factor Authentication (MFA) across the board to strengthen user authentication protocols. •VPN for Remote Access: Set up a VPN with robust encryption standards for remote administration, granting access solely to authorized staff. •Employ a Web Application Firewall (WAF) to meticulously assess and filter inbound traffic. •Where feasible, limit access to services based on a predefined list of IP addresses. •Insist on Multi-Factor Authentication (MFA) to verify the identities of all users. •Facilitate secure remote administration through encrypted VPN channels.

Objective

Access Control Enhancements:

If complete blocking is not feasible and a more nuanced access approach is necessary:

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