The Cloud Security Paradox: New Tech, Old Thinking – BankInfoSecurity.com

Organizations continue to force outdated security models into modern cloud environments, creating dangerous gaps in cybersecurity defenses. This mismatch between traditional security approaches and today’s pervasive cloud-based infrastructure has left many companies vulnerable to evolving threats that older security models never anticipated, according to Richard Bird, chief security officer at Traceable AI.

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The cloud and Layer 7 have fundamentally changed the industry’s approach to security, Bird said. “What we have to do, particularly those that have been in the industry for a long time, is begin to question our own assumptions and begin to question our own experiences, to say, ‘Are the patterns that we see similar to what we’ve seen before? Are there differences?’ And the acknowledgment of the differences is the most important piece.”

The shift toward cloud-based infrastructure has particularly affected the financial services sector, where traditional security measures such as web application firewalls and content distribution networks are falling short. These legacy tools lack the contextual awareness and intelligence needed to safeguard modern payment systems and emerging financial technologies.

In this video interview with Information Security Media Group at the GovWare 2024 Summit, Bird also discussed:

• The evolution of identity threat analytics and security-focused measures;
• The relationship-based approach to cybersecurity in APAC markets;
• The decade-long transformation needed in security technology stacks.

With nearly 30 years of experience in cybersecurity, Bird oversees internal data security and enhances external API security measures. Known for his innovative approach, he advocates for the zero trust security model and emphasizes creativity in addressing complex challenges, making significant contributions to the field.