Protection of IP with SIEM

In here we’ll talk how a company almost lost all of it’s intellectual property due to one mis-handled employe and how a security measurements applied in advanced protected the company future, the company investors money and the owners themself from liability and possible lawsuits. To protect the company identify we’ll call the company MoonActive.

Background

MoonActive Inc., a leading software development company, specialized in creating cutting-edge cybersecurity solutions. While they were experts in protecting others, they realized the need to fortify their own defenses, especially concerning their intellectual property (IP), a crucial asset for their innovation-driven business.

Due to their CEO ability to foresee possible issues with how their own employees using their own internal and external services, they realize they need a method to monitor and track all employees abnormal behavior and odd usage of the system. A software development company might hold and handle not other it’s own IP but also their customers IP, and losing valuable data, code, images, strategic information and more relating to their clients might lead to lawsuits, exodus of customers and in some cases bankruptcy.

Sequence of Events

Challenge: With a growing workforce and numerous projects, MoonActive faced challenges in monitoring and safeguarding sensitive data, including proprietary code and customer information. The key issue was detecting unauthorized access or abnormal activities, such as large-scale file downloads, which could indicate IP theft or misuse of company resources and data.

Solution Implementation: To address this challenge, MoonActive implemented a Security Information and Event Management (SIEM) system. The SIEM was integrated with their network, servers, and data storage environments to monitor and analyze security events in real-time.

Operational Functionality: The SIEM solution was configured to track various parameters, including user access patterns(when users login? how long they stay logged in? what computer of system they are using etc), file movement(are those files related to their work? how sensitive those files are?), and data download volumes. It used advanced analytics to establish a baseline of “normal” activity, enabling it to detect deviations that might signify potential security incidents.

Incident Detection: Three months post-implementation, the SIEM system flagged an unusual activity. It detected massive file downloads from the R&D department’s server outside of regular business hours. The downloads were traced to an employee’s credentials, who had recently tendered their resignation. with those two pieces of information an immediate action was needed to protect the company IP.

Response and Investigation: Upon receiving the alert, MoonActive’s security team immediately suspended the implicated account and initiated a forensic investigation, using audit logs, history of event actions and more. The SIEM’s logs provided a detailed timeline of the activities, helping the team understand the scope of the potential breach.

Outcome: The investigation revealed that the employee had been downloading confidential project files, potentially to use in their future endeavors. The swift response prevented further data exfiltration. The employee was interviewed and subsequently admitted to the unauthorized downloads, leading to legal action to protect MoonActive’s IP.

Benefits of SIEM

SIEM provide a variety of benefits that assist in MoonActive case and could possible save your own company from IP theft and other security issues.

1. Proactive Threat Detection: The SIEM system enabled MoonActive to detect potential threats in real-time, significantly reducing the risk of IP theft.
2. Forensic Capability: Detailed logging and analysis provided invaluable insights during security incidents, facilitating effective response strategies.
3. Compliance and Reporting: The SIEM system ensured compliance with data protection regulations, providing audit trails and demonstrating proactive security measures.
4. Enhanced Security Posture: Continuous monitoring and alerting capabilities of the SIEM reinforced MoonActive’s overall cybersecurity framework.

Conclusion

The implementation of the SIEM system was a turning point for MoonActive. It not only protected their critical IP but also bolstered their reputation as a leader in cybersecurity, their case study presented how good MoonActive cyber security effort in protecting their own and their customer’s IP. in addition this case exemplifies the vital role of SIEM in modern cybersecurity strategies, particularly in safeguarding sensitive corporate assets and intellectual property. In this can SIEM assist in detection of IP theft, however SIEM can help with other security issues like: Malware Detection, Brute Force Attack, Phishing Attack, Intrusion Detection (like failed login attempts) and much more! click here to read more about SIEM.