The Ultimate Guide to Managed Bug Bounty - A Comprehensive Guide to Crowdsourced Security
Cybersecurity is on everyone’s mind— from parents of toddlers to the President of the United States. As our world continues to come online, cybersecurity vulnerabilities become even more apparent and can bring on serious legal, financial and reputational harm, impacting both enterprise data and personal data. No one thinks — or cares — more about cybersecurity than the security professionals responsible for protecting their enterprise’s applications and data. And their lives get tougher every day.
Protecting your corporate assets has never been more difficult — or more expensive. According to IBM and the Ponemon Institute, the global average cost of a data breach is $3.86 million, up 6.4% from last year. The average cost for each lost or stolen record containing sensitive and confidential information also increased by 4.8% year over year to $148. Additionally, The Breach Level Index indicates that nearly 5 million data records are lost or stolen worldwide every single day, 58 records every second. Not a day goes by without a high-profile data breach hitting the headlines.
And while the enterprise acknowledges this and allocates resources — according to recent survey, enterprise security budget increased by 20.46 percent from 2017 to 2018 — it simply can’t keep pace with the growing number, and complexity of threats. Why is the enterprise losing the cybersecurity battle? Four reasons: A growing attack surface, dynamic and motivated adversaries, increasing skill shortage and ineffective security architectures. Securing your applications and data has never been a fair fight — and it’s getting more unfair each day with more devices coming online and less skilled workers available to defend them. Additionally the enterprise is fighting a 21st-century problem with 20th-century resources and thinking.
Managed bug bounty and vulnerability disclosure programs provide companies with the ability to level the playing field, strengthening the security of products as well as cultivating a mutually rewarding relationship with the security researcher community. In this comprehensive guide, learn the ins and outs of crowdsourced security, managed bug bounty and vulnerability disclosure programs, the benefits of each, and how to successfully implement a managed bug bounty program as part of your application security strategy.
Looking Ahead
Securing your data, applications and websites has never been more important--or more difficult. With the explosion of black hat hackers putting every line of code at risk, it’s time to realize that the status quo--internal testing and penetration testing--can’t keep up. Crowdsourced security, offered by Bugcrowd, is the only solution that has the scale and expertise to level the playing field. In the coming years it will become the standard operating practice for vulnerability assessment--the winners will be those who embrace this new standard today and reap the rewards before the rest of the market catches up.
