3 Cyber Security Trends Shaping Business Priorities
As more businesses are investing in cloud solutions for benefits like scalability, flexibility, and cost savings, they are confronting new security challenges. Traditional security tools simply aren’t designed to handle the broadened security plane and multiplication of smart devices accessing the network. There are three key cyber security trends that are driving innovation and policy:
Ransomware: This malware encrypts your company data, requiring a paid ransom before they will provide the decryption information. That decryption may or may not be valid, so companies may pay the ransom only to find that they are still not able to retrieve data. Hackers use tactics like phishing or vishing (voice phishing) to gain access and launch a cryptovirus that encrypts the files in the system.
If the company fails to pay for the decryption key in time, the price continues to rise, and the data will eventually be released on the dark web for sale.
The rise in ransomware is causing many companies to increase their cyber security insurance and budgets for security teams. Along with insurance coverage, companies can lessen the threat of ransomware by training employees how to recognize a phishing email or vishing attempt.
Mobile Device Security: Addressing mobile device security is one of the big cyber security trends impacting companies, with app threats, device threats, and user threats all potentially making the network vulnerable. One of the benefits of mobile applications is the ease with which they are downloaded, but that also means that an employee can easily download a legitimate-looking app that is actually spyware or malware.
Employees also access and store sensitive company data and emails on mobile devices while using their devices across multiple WiFi networks, such as at their local coffee shop or in the airport.
Companies are utilizing mobile device management (MDM), which is a good start for improving the cyber security around mobile devices. Knowing which devices are accessing the network and establishing policies for safe practices can help reduce risk, but as companies navigate bring-your-own-device (BYOD) policies and the complications of internet of things (IoT) devices, it will require new approaches to cyber security.
Cloud Security & Automation: With companies adopting cloud-first approaches to their technology strategies, it opens up many new conversations around security – determining who is responsible for the security of data as it moves in and out of the network, in transit, and in cloud computing and storage phases.
In addition, many companies aren’t aware of the vulnerabilities in a cloud infrastructure or simply don’t have the in-house staff to address security gaps. As a result, many companies are turning to automation. Manual processes and limits on information sharing can slow implementation when migrating to the cloud, and these concerns are amplified by the large percentage of cyber security incidents that are the result of human error.
Companies are turning to automation to eliminate human error and ease the task load for stressed security teams. Automation takes the place of human labor, reducing the burden on security teams and working as part of emerging security, orchestration, automation, and response (SOAR) solutions that provide huge potential for improving security while reducing workload.
If you’ve been following cyber security trends, you know that part of securing your data and systems means leveraging the best security tools to match your business priorities, which is no easy feat. Contact us at One Connect for guidance in choosing the tools that are best positioned to protect your company.