How secure are your networks against any Cyberattack?
It’s not surprising that privacy regulators have a tough time to catch the cybercriminals who breach cyber networks to siphon off private data. Failed cybersecurity protocols form the crux of data breaches, ransomware attacks. Massive development in technology has its other side as well, equal malignant effects are seen in the other side of the law where cybercriminals are evolving their tactics to overweigh the impact of cybersecurity investments by the businesses.
It’s not surprising that 2019 saw over 3,800 publicly disclosed breaches as cyberattacks! Still, the number of cyber-attacks continues to grow year by year making the case of cybersecurity as an absolute requirement for every company.
Here are the Top 10 Cybersecurity trends that every business must watch out for in 2021-
Businesses have moved to the cloud, curtesy the Covid-19 pandemic. The increasing confidence into public, private and hybrid data cloud paves way for new challenges. Cloud-based security threats owing to misconfigured security measures give way for stricter security protocols and security testing features. The rise in cloud adoption means an increase in thrust in infrastructure security.
When working in the field of global financial settlements, businesses need to pay close attention to the latest happenings in cybersecurity. That’s certainly the case for Transparent Systems, which makes way for online payments through cryptographic systems. The dynamic BFSI industry would not like to surpass this trend.
Security professionals, developers, and engineers are all under pressure to achieve more with less cybersecurity, so automation and integration are essential across the board. By incorporating security into agile processes like ModelOps and DevOps, businesses can effectively manage risk and maintain the quality of development.
BYOD and Mobile Security
Covid-19 has let businesses to allow employees to use their devices for work. The concept of Bring-Your-Own-Device (BYOD) is encouraged to minimize costs and increase operational productivity by elevating employee flexibility through remote work and leveraging the gig economy.
Data from sensors are making the Internet of Things more worthwhile. Multiple research reports say that cyberattack traffic has seen a three-times increase to rise to 2.9 billion events. Things will get more and more serious over the years. Expect more of hardcoded passwords, non-encrypted personal data, updates of software and firmware form unverified sources, issues related to wireless communication security and more. All of these are actual threats connected with IoT devices placed at home, public place, or enterprise.
Verizon’s report tells that 34% of cyber-attacks in 2019 were misdeeds of internal employees. Surprised? Employees are increasingly getting involved in data leaks intentionally or unintentionally. Businesses must brace for USB drives of their staff that take away massive information to help fraudsters with the attack or follow suspicious links attached to emails.
Data highways pose a rampant cybersecurity threat. The public concern about their data management has to be a top priority for those businesses present online. The rising number of data breaches, make it tough for businesses to ignore data privacy concerns.
The usage of third-party data for business gains must fall under the following purviews-
• Individuals must how their data will be used.
• Data encryption cannot be ignored.
• Individuals must have an option to forbid sharing their data.
• Companies have to inform if there has been any public data breach within a stipulated time.
To protect against the cyber-attacks, a cyber insurance policy is imperative to help businesses mitigate financial risks from cyber-attacks. According to the report by PWC, some of the US companies have already bought some type of cyber risk insurance and many are expected to follow suit.
Investments for Security
With increasing awareness among businesses, 2021 will see an increase in their spending on cybersecurity. There will also be a rising demand for more security experts across geographies. The demand will far exceed the supply of qualified experts, leading to a widening skill gap, which will be filled with automation, SaaS vendors and technological solutions to meet this challenge.
Cybersecurity Skills Gap
The demand for cybersecurity professionals exceeds supply. As many as two in three organizations worldwide have reported a shortage in their IT security staff. Consequently, automated security tools such as online vulnerability management solutions would become essential to maintain a good security case.