E-Business
The Importance of Security Operations Centers to Contemporary Organizations
As organizations grow more dependent on IT solutions, they have also become potential subjects of cyber threats. These threats vary in terms of the risk they portend for their targets; the more lethal ones could inflict costly damage on their victims.
Businesses, public sector concerns, and other institutions have responded by taking proactive measures to prevent these threats from being actualized. In some cases, the creation of a Security Operations Center sits at the core of their strategy.
What Is a Security Operations Center?
A Security Operations Center (SOC) is a unit that’s built to tackle the security issues of an organization. It consists of the personnel, technologies, and processes that are required to maintain the organization’s security status.
The personnel at a Security Operations Center include members of the IT team who are adequately skilled at identifying and dealing with threats. The SOC’s processes involve monitoring, detecting, analyzing, and responding to threats.
Technologies used at a SOC are built to scour networks, servers, endpoints, websites, and databases for signs that such systems have been compromised. They also include tools that help with reporting such incidents.
In other words, the SOC serves as a point at which events logged throughout an institution are monitored. This setup works through the data and determines whether there are threats, and how to defend the organization against such threats where they exist.
The Functions of a Security Operations Center
As has already been hinted, a Security Operations Center needs to have visibility into the various aspects of the assets it is supposed to protect. It should also track the networked interaction between these assets, including software, endpoints, and servers.
Also part of the SOC’s mandate is preparation for possible attacks. To do this successfully, teams within the SOC will have to keep tabs on the latest developments in cybersecurity, such as emerging threats and best practices for defending systems against them. Vulnerabilities should be patched, firewalls updated, and applications secured.
Monitoring systems with tools such as Endpoint Detection and Response (EDR) and Security Information and Event Management (SIEM) is standard practice for SOCs. The EDR continuously collects and analyzes activity data from endpoints throughout the organization, and provides automated responses to perceived irregularities within these data that may signal an imminent attack. SIEM similarly gives SOC personnel insights into activities in their IT environment.
In addition to these, the Security Operations Center also ranks security alerts, discerns genuine risks from false positives, responds to threats (by shutting down or isolating compromised endpoints, etc.), and carries out recovery and remediation following an attack.
The Structure of a Security Operations Center
Given its various duties, the SOC is ideally staffed with multiple IT security professionals, each playing a specific role within the setup.
A manager, who leads the team, should coordinate and oversee the processes ongoing within the SOC. They should also be able to fill any of the roles there. An analyst collects and analyzes past data or data generated after a breach has occurred.
Another role, the investigator, involves assessing a breach and answering questions about how and why the event occurred. They may also take on the role of the incidence responder, who takes action to minimize the impact of breaches.
One person could play multiple roles; it all depends on how big the organization affected is.
The structure of the SOC should be documented, with each role defined, and questions around responsibility and collaboration answered. Security processes that ought to be defined include monitoring, alerting, escalation, investigation, incident logging, compliance monitoring, and reporting.
Benefits of a Security Operations Center
An immediately perceivable benefit of the SOC is that knowledge is centralized. Personnel at the SOC gain a bird’s eye view of their organization’s networks and are better able to spot vulnerabilities. This setup lets them share vital information so that their work is more coordinated and ultimately effective.
This approach to security may reduce running costs as well. With the cybersecurity team and infrastructure in one location, resources are concentrated in one place at a given time. Because they are in a single location, organizations don’t have to spend more to maintain various offices across different locations.
Centralization may also help improve collaboration between members of the IT security team. They can leverage each other’s expertise and experience, and develop solutions that help their parent company in many ways.
With greater team collaboration comes improved response times. The use of advanced tools for threat detection and monitoring strengthens this benefit even more. With proactive network and endpoint monitoring tools, it’s even possible to protect against cyber threats before they materialize.
Finally, there’s the round-the-clock protection that SOC affords. Because attacks aren’t limited to working hours during weekdays, SOCs are built to monitor for potential vulnerabilities every hour of every day.
An Option Worth Considering: Managed Security Operations Center
Not all businesses are able to set up a functional SOC. The expertise, experience, tools, and space required to run it may constitute a drain on resources, besides forcing the business to take on additional tasks to its core operations.
Managed SOCs are a solution to this problem. Cybersecurity firms often offer this as a service to their client organizations. This means that businesses don’t need to have a large department dealing with security issues. Signing up with a reputable cybersecurity firm will allow them to have a SOC with that firm, and focus on their core operations.
Layer3 can help you manage your company’s IT security. We do this by leveraging the expertise and experience of our cybersecurity experts, and our knowledge of the present and emerging risks that enterprises face in today’s world. These, combined with our advanced threat detection and security intelligence tools and systems, will take care of the things you would typically assign to an in-house SOC. This guarantees cost savings for your organization and lets you devote more time and resources to your principal operations.
If you would like to learn more about our IT security service offerings, you can get in touch with us here.
Paga, a payments and financial services provider for Africa has processed transactions value to the tune of N14trillion in the last 15 years of its existence.
Tayo Oviosu, chief executive officer, Pagatech, said at a media interaction to mark the company’s 15 anniversary that 80 percent of the amount was done in the last five years.
“When we celebrated 10 years of our business that was five years ago, we have grown our transactions values by 7 times, across the three business arms of our operation which includes; consumer payments, platform as-a-services and super App for retailers.
“This has translated into job creation as we have created over 1,000 direct jobs in Ethiopia and in Nigeria and indirect jobs through our agent network to about 100,000 jobs, this is economic empowerment of Nigerians.
“Our desire is giving people financial freedom and making life possible for them and impacting on our community. We are really proud of our economic achievements and we are making sure that our customers get the best experience.
“We are super excited about what the future holds for our business. Our vision is a world where cash does not exist anymore. We ensure that our customers’ money is safe by complying with the highest global security standards.
“Our focus is on helping both consumers and sellers pay, get paid, and access financial services. We do this directly; and through our Platform-as-a-Service, which enables other third parties to leverage the deep infrastructure we have built for endless possibilities.
Oviosu, further explained the three business lines Paga has transformed into from a mobile money operator from inception to a financial services provider includes; Consumer payment: where anyone can open a Paga account from any type of phone, by download Paga App from Apple or android store or dial *242# from any type of phone device.
“With Paga app, you can fund the account, make payments and also have a physical Visa card or a virtual Visa card on the account. This gives you significant convenience over other bank accounts we have in the market today.
You can send money into that account from any bank account or walk into any bank branch to fund the account. You can as well go to any agent and fund or make transactions from the account,” he said.
He added that when he started the business 15 years ago, there was no infrastructure, “we had to build the required infrastructure to support the business. Two years ago, we opened our infrastructure to allow other technology companies to use it for their own business. We called this Platform as a Service. With Platform as a service we are serving 150 businesses who are using our infrastructure to execute their own businesses.
“The third arm of our business is what we called Doroki this a different brand which is super App for retail business. If you are a supermarket you use it to manage your inventory among others. This is the youngest arm of our business” he noted.
Dr John Asein, director-general, Nigerian Copyright Commission (NCC), has said that the federal government is taking steps to finalise its National Intellectual Property (IP) Policy and Strategy for the country.
Asein disclosed this on Friday while commemorating the 2024 World Intellectual Property Day with the theme “IP and the SDGs: Building Our Common Future with Innovation and Creativity’’ in Abuja.
The that the Day is observed every April 26 to celebrate the importance of intellectual property (IP) rights to encourage innovation and creativity.
The director-general was represented by Mr Emeka Ogbonna, director of Legal.
NCC boss said the policy would serve as a blueprint for a more efficient modern and responsive legal and administrative framework for the country to leverage on its creative and innovative potential.
He said that the day underscored the power of innovation and creativity in achieving the Sustainable Development Goals (SDGs) and shaping a sustainable and inclusive future for humanity.
According to him, the SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by the year 2030.
“IP rights play a pivotal role in fostering innovation, creativity, and technological advancements. They provide the framework that encourages men and women to develop new solutions that address global challenges.
“It is the lynchpin for incentivising the use of creative and innovative ideas to solve many of the challenges that confront humanity.
“This year’s World IP Day reminds us that intellectual property can be a powerful tool for social, economic, and environmental development.
“It encourages individuals, businesses, and governments to leverage IP rights to drive innovation, create jobs, and build resilient communities.
“By aligning our intellectual property policies and strategies with the objectives of the SDGs, we can accelerate their achievement,’’ NCC boss said.
He said in the spirit of the “Renewed Hope Agenda’’ of the present administration, government had also shown appreciable commitment to the creative industry as a major sector of the economy.
“As one of the agencies responsible for the wholesome development of the creative sector, the Nigerian Copyright Commission will continue to provide the needed institutional, legal and administrative support for the protection, promotion, regulation and enforcement of copyright.
“The commission will pay particular attention to using the copyright system to advance Goal 1 (No poverty); Goal 4 (Quality education); Goal 5 (Gender equality).
“And Goal 8 (Decent and economic growth); Goal 9 (Industry, innovation and infrastructure) and Goal 17 (Partnerships to achieve the goals).
“We are aware that the goals would have to be adapted to fit the peculiar needs of intellectual property which is an intangible asset.’ ’he added.
The director-general, who said that the commission focused on the 17 SDGs to address emerging challenges, called on authors, innovators, users, IP experts and other stakeholders to reflect on the vulnerability of the nation’s fragile knowledge and creative ecosystem.
The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.
Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.
The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.
Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.
She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.
DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.
The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.
Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.
“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.
This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.
It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.
Mr Kashifu Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.
According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.
“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.
These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.
ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.
NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.
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