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A Case for Multi-Layered Cyber Security Protections: The MOVEit Breach

The recent Zero Day exploit news of the popular data movement software MOVEit, developed by IPswitch and now owned by Progress Software, is another indication that cyber protection requires a multi-layered approach. MOVEit is used by Financial, Healthcare, Insurers, Payroll Processors and numerous other organizations across the world.

The vulnerabilities exploited through the MOVEit software solution will provide malicious actors with further intelligence on how to manipulate and deploy similar exploits across other software solutions. This includes data movement solutions used in the Commercial Real Estate (CRE) industry. Business processes using such solutions are:

  • Rent Payments

  • Vendor Payments

  • Financial Statement movement from 3rd Parties to the Enterprise

  • Investor Reporting

  • General and Subcontractor collaboration on developments and re-developments

  • Deal Due Diligence (Acquisitions and Dispositions)

  • Building Systems Energy Data for Payments

  • Building Systems Control Information

As stated above, a multi-layered approach to your cyber protections is key in reducing risk from this and similar threats. A multi-layered approach includes:

  • Ensuring endpoints are constantly updated with the latest security patches

  • Updating edge equipment containing the latest cyber resilient technologies

  • Employing Security and Operations Playbooks that are continuously updated and tested

  • Continuous monitoring by both automation and human review of network traffic across all segments looking for anomalies and exploits

  • Cyber Education and Awareness programs across all areas of the Enterprise

  • Contractually requiring 3rd Parties to employ cyber controls acceptable and verifiable by the Enterprise

5Q’s Managed Services for Real Estate focuses on and deploys a multi-layer approach to manage networks, endpoints, and identities for IT and OT devices and provides vCISO consultation to enhance CRE enterprises. Our mission is to provide top-notch IT and cyber security services to commercial real estate organizations. Equipped with expert team members in a range of IT and cyber security functions as well as in-depth knowledge of Commercial Real Estate back-office functionality. 5Q is prepared to support and service CRE organizations’ technology and cyber security requirements from top to bottom. 

Reach out to us today for more information on how to reduce your risk to threat actors. You can email us directly at info@5qcloud.com or learn more about our cyber security solutions at 5qcyber.com

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