e-Forex-Nov-23

NETWORKS, HOSTING & CONNECTIVITY
clients’ environment security, giving
us the confidence that there is endto-end
protection.”
Source:Beeks Group
Compliance Frameworks
ISO 27001 and SOC 2 are important
complementary frameworks for cloud
service providers to follow.
ISO 27001 is the international
standard for information security
management, governing how overall
security is defined, implemented,
operated, controlled, and improved
within an organisation. It is an ISO
certification that is audited annually
and recertified every three years.
SOC 2 defines criteria for managing
customer data based on five ‘Trust
Service Principles’ (TSC), Security,
Availability, Processing Integrity,
Confidentiality and Privacy. It differs
from ISO 27001 in that it evaluates
the effectiveness of an organisation’s
security controls and processes
over a specific period of time.
Commenting on Beeks’ accreditation
status Neill says: “Beeks achieved ISO
accreditation in 2020 and is aiming
to receive our first SOC 2 report in
February 2024.
SOC 2’s transparent and independent
audit process gives clients and
prospects compelling evidence about
how our security controls actually
work and operate. This gives clients
more dynamic, detailed, and timely
operational information to review for
their own compliance.” he explains.
5 main requirements of DORA
experience in security operations reporting, business continuity and
for government and private sector operational resilience testing. Our
environments and were named Global most recent large-scale Exchange
Microsoft MSSP partner of the year in Cloud implementation for
2023.”
Johannesburg Stock Exchange is a
good security case study to highlight
Offering rapid threat detection and these capabilities. However, we are
response for incidents involving not resting on our laurels and have
credential theft, anomalous
engaged an independent audit firm
behaviours, and malware propagation, to conduct gap analyses to assess our
BlueVoyant gives Beeks a head start DORA readiness.”
in threat intelligence sharing, which is
of increasing importance in ensuring DEDICATED SERVICES VS PUBLIC
robust and resilient infrastructures CLOUD
across supply chains.
“Of course, public cloud hyperscalers
will also offer highly accredited
EARLY ADOPTION OF THE DIGITAL solutions to tier 1 participants,”
OPERATIONAL RESILIENCE ACT comments Neill, “but not
(DORA)
necessarily with the correct scope
of understanding of secure and
DORA is an EU financial regulation resilient ultra-low latency and
which comes into full force in January high-performance environments.
2025. According to the wording For example, AWS might advertise
of the Act itself it will define rules fully redundant availability zones,
on the five key pillars; financial ICT but if their customers are not
risk-management, incident reporting, deploying across multiple availability
operational resilience testing, ICT zones, they will not have access to
third-party risk monitoring and the redundancy. Dedicated MSPs
information and intelligence sharing, can guide banks away from these
to safeguard the soundness of the misleading risks, and actually stipulate
entire financial system.
redundant architectures.”
Defence in Depth
Highlighting Beeks’ trusted
partnerships and multi-layered
approach to security controls Neill
explains: “We’ve partnered with
US-based Managed Detection and
Response (MDR) specialist BlueVoyant
to complement our threat-detection
capabilities. Their team of security
analysts each has at least 10 years’
“DORA will put further pressure
on providers and suppliers to align
their products and services with
the necessary controls to comply
with the regulation,” says Neill.
“Beeks is already getting ahead on
this by aligning our solutions to
ease the sales journey and reassure
banks procurement teams. We’re
already doing much of the incident
Neill concludes: “We are arriving in
an age where banks are realising
that not only can cloud technology
provide them with a level of flexibility,
security, and resilience difficult to
achieve with legacy on-premises
solutions, but that generic cloud tech
doesn’t go the extra mile that their
infrastructure needs. Beeks is Ready
to fill that gap.”
NOVEMBER 2023 e-FOREX 67