As September seems to be a very popular month for Cyber Security conferences and exhibitions, we thought it appropriate to cover some of the key trends that companies should be aware of when seeking solutions.
Cyber Security must be constantly updated due to the changing cyber threat landscape.
Security risks have increased with the widespread adoption of remote work and rapid business initiatives. More data is being used. To make it easier for businesses to access data, APIs and applications are growing. Cloud makes critical applications easily accessible to many attackers.
Companies must adapt to this new reality and keep abreast of the critical cybersecurity trends so they can navigate 2021 and beyond.
Emerging Threats and Their Response Capabilities
Companies that work with large data sets need to be secure online. Nearly all companies working in the digital age have access to large amounts of data. It is becoming increasingly challenging to store the data in a secure place and use it for analysis. Companies are now using threat detections to automate monitoring, collecting, and correlating data from various IT security tools. This not only increases data security but also automates threat detection and speeds up incident response.
Ransomware Presents New Challenges
Ransomware is a major threat to organizations’ data security. This threat will continue to increase in the future as it becomes a top cybersecurity trend. A Ransomware attack can cause economic havoc and data theft in organizations. In 2020, the ransomware attacks cost an average of $4.44 million and were more expensive than average data breaches 2020.
Cloud adoption emerged as a way for businesses to maintain business continuity, especially with the rise of remote work and online collaboration during the coronavirus epidemic. Although global businesses had been moving to the cloud long before the crisis, it was only now that the pandemic became a catalyst. Rapid cloud migration will present new security challenges and threats.
Cloud-based security threats such as misconfigured cloud storage and reduced visibility and control, incomplete deletion of data, and vulnerable cloud apps will continue to disrupt businesses into the future.
Artificial Intelligence (AI), which is a rising number of cyberattacks, could be the key to ensuring that under-resourced security personnel can remain one step ahead.
AI can help security teams reduce their response times by analyzing large data sets and risk reports. This allows organisations to make crucial security decisions faster and can respond quickly to immediate threats.
Access to zero-trust networks
Zero-trust security assumes every user and device cannot or should not be trusted. Instead, access to users is granted as needed based on each employee’s job function. This reduces the risk of insider threats. Organizations can prevent outsiders from accessing the network by continuously monitoring the trust of every device and user. This zero-trust security system also stops them from accessing critical information laterally.
The rise in Enterprise-level CSOs
Recent Cyber Security incidents, threats, and vulnerabilities that go beyond traditional enterprise IT systems have skyrocketed. This has prompted organizations to re-evaluate their security posture in cyber and physical environments.
Cyber-physical threats continue to be posed by cyber incidents like siegeware attacks against infrastructure management systems, increasing vulnerabilities in OT/OT systems, and GPS spoofing. Businesses that rely on an IT security-centric approach were unable to deal with security risks to physical safety.
Organizations that have cyber-physical systems should deploy CSOs at the enterprise level to work with multiple security-oriented silos. The CSO can integrate physical, IT, and supply chain security in a centralized governance structure.
Secure Access Service Edge (SASE)
Secure access service edge (SASE), which combines network security and WAN into one cloud-delivered service, is a way to consolidate both. Traditional Cyber Security approaches are not sufficient to meet the changing needs of today’s networks. SASE allows organizations to secure access regardless of where their users, devices, and applications are located. Secure access is essential as organizations move more critical data and assets between cloud environments.
Data Privacy as a Discipline
Since the EU introduced stricter data laws, there have been growing concerns about privacy, data security, and management. The more stringent compliance requirements are becoming a more common discipline.
Data privacy can impact almost every aspect of an organization, including corporate strategy and closely aligning with security HR governance and procurement. Without data, no department or team can function.
Endpoint security management
Endpoint security management is the process of authenticating and monitoring endpoint access rights to a network. Cybercriminals have the opportunity to exploit these endpoints and gain unauthorized access. Organizations will need solutions that monitor remote workers and protect them from possible threats to manage the increasing number of endpoints.
The chances of being impacted by a business-crippling attack is rising every day, hence the continuing growth in the Cyber Security market and the number of companies operating in it.
At Infintec, we work with tech businesses to assess and fulfil their potential. Cyber Security is one of our key areas of focus.
Our services include full Technical and Commercial Due Diligence, helping to position the company within their market space and evaluate their potential (https://infintec.org/innovation-funding-service/.
Companies need Cyber Security technology – and there are a lot of companies offering solutions. Our role is to help the better ones grow faster.