Adopting Zero Trust: Key Insights and Practical Strategies for Digital Security in Australia

By Eric Peterson, Director of Cyber Security Operations - 28 Jun, 2024
4 Minutes Read

Traditional perimeter-based security methods are increasingly challenged by zero trust, a proactive, critical cyber security strategy. Zero Trust focuses on verifying every individual and device requesting network access, irrespective of their location. Adopting Zero Trust substantially strengthens cyber security defences by reducing the attack surface and mitigating risks associated with insider threats and external breaches.

Let’s explore the essential procedures and industry best practices for businesses keen to implement Zero Trust.

Benefits of Zero Trust Security

Zero Trust Security provides a range of compelling benefits, such as enhancing protection against insider threats, fortifying the security posture against emerging cyber risks, supporting secure remote work and cloud adoption, and simplifying compliance with regulatory requirements.

 

Statistics on Zero Trust Adoption

Market Growth: According to MarketsandMarkets, the global Zero Trust Security market is expected to grow significantly, increasing from AUD 45.9 billion (USD 31.1 billion) in 2023 to AUD 100.4 billion (USD 67.9 billion) by 2028. This represents a Compound Annual Growth Rate (CAGR) of 16.9% over the forecast period. 

Effectiveness: Zero Trust is highly effective in boosting cyber security and mitigating risks, with 99% of surveyed organisations confirming its efficacy, as reported by Capterra.

Cost Savings: Data breaches cost an average of AUD 5.1 million (USD 3.45 million) for organisations with a mature Zero Trust security architecture, illustrating substantial cost savings. What would this figure have been for those without Zero Trust?

How to Get Started

1. Evaluate Current Security and Network Architecture

Start by conducting a thorough assessment of your company’s existing network and security infrastructure. Compile a comprehensive list of all systems and users with network access. Identify any current weaknesses, vulnerabilities, and potential entry points for unauthorised access.

2. Identify and Classify Assets and Resources

Determine the critical resources and assets within your network, including data, applications, and infrastructure components. Organise these resources based on their importance and sensitivity to your company, taking cues from Business Impact Analysis (BIA) practices.

3. Install Identity and Access Management (IAM) Restrictions

Make sure that users and devices seeking access to resources are properly authenticated. Set up robust identity and access management protocols. Develop a strategy to map data flows across your network to regulate access. This includes enforcing stringent password policies, implementing role-based access control (RBAC), adopting multi-factor authentication (MFA), and applying least privilege principles and solutions.

4. Deploy Micro-Segmentation for Your Network

Implement micro-segmentation techniques to break down your network into smaller, more manageable, isolated zones. This approach minimises the impact of security breaches and limits attackers’ ability to move sideways within the network. Before allowing devices access to the network, enforce strict security compliance rules.

5. Utilise Continuous Monitoring and Analytics

Employ analytics and continuous monitoring methods to swiftly detect and resolve security issues. This encompasses utilising behaviour analytics (UEBA), security information and event management (SIEM) systems, and advanced threat detection algorithms leveraging machine learning.

6. Educate Staff Members on Zero Trust Principles

Educate staff about the principles of Zero Trust Security and their role in maintaining a secure workplace. Emphasise the importance of embracing this cultural shift and highlight the significance of practising safe online behaviour, such as avoiding suspicious links and attachments, and promptly reporting any security concerns.

 

How Zero Trust Prevents Cyber Threats

    • Reducing Excessive Privilege Risk: Excessive privilege risk stands as a leading cause of cyber security incidents, a risk mitigated through the adoption of zero trust principles.
    • Continuous Authentication: By continuously confirming user identities, continuous authentication and authorisation improve security.
    • Data Protection: Zero Trust focuses on preventing breaches, leaks, and theft of sensitive data by prioritising robust data protection measures.

Key Takeaways

These fundamental steps and recommended practices serve as a solid foundation for organisations looking to establish a robust framework for zero trust security. While initial investment and effort may be required, the long-term benefits of bolstered security posture and resilience against cyber threats far outweigh these costs. In today’s increasingly digitalised and interconnected landscape, implementing a Zero Trust Security approach is crucial to safeguard vital assets and maintain customer trust.

 

Achieve Business Outcomes with New Era Security

Our team have many years of experience in digital security across several different industries. Contact our friendly team today to discuss your security needs.

 

Author: Eric Peterson, Director of Cyber Security Operations