Cybersecurity is constantly changing and it needs to be a high priority to stay secure. Companies are investing in technology, which creates new vulnerabilities that need to be patched.
As technology advances, the capabilities of our adversaries are growing. They are no longer limited to individual actors with less sophisticated tools. Instead, highly sophisticated organizations leverage integrated tools whose scope is growing with artificial intelligence and machine learning. None of today’s most sophisticated cyber controls will soon be obsolete. In the next 3-5 years, we must have a plan for accelerated digitization.
More data makes security breaches more likely. There is a $183.18 billion marketplace for web-hosting services, and people create 1.7 megabytes of data every second. Many firms now rely on cloud storage for their data, which means that companies need new technology platforms to handle cross-environmental data volumes. In 2020, those with access to such tools will have a competitive advantage over those without the tools because they can better predict demand due to the vast amount of information at their disposal.
AI and advanced machine learning techniques can expedite the attack cycle from weeks to days or hours. Ransomware and phishing software is becoming easier and cheaper to implement, which is why we see them frequently. COVID-19, for example, was the trigger for a 148% increase in the number of ransomware attacks over the world.
Many businesses lack the necessary cybersecurity talent and expertise, leading to cyber risks. Cyber risk management hasn’t been able to keep up with digital transformations, and many companies don’t know how to identify and manage those risks. Regulations are increasing their guidance of corporate cybersecurity capabilities, but this has the same level of oversight as for credit or liquidity risks in finance, or security issues in the infrastructure.
Companies are now forced to manage an extensive number of cross-border data flow regulations stemming from growing privacy concerns and breaches.
This shift in cyber threats is important and as such, there are several defensive abilities that you can develop to balance out the risk. These abilities may not all apply to every individual, but they still exist and could be relevant to your company.
How to protect a company’s assets and resources in light of increased cybersecurity threats:
The risks and challenges of on-demand data access can be mitigated with four cybersecurity capabilities. Zero-trust capabilities replace the traditional “trust everything” model of computing, as well as behavioral analytics, which monitors and detects internal network activity without ever accessing or storing personally identifiable information. Elastic log monitoring breaks up logs into individual events for easier storage and analysis, like a forensic detective collecting evidence. Lastly, homomorphic encryption renders only those portions of text that have been read unreadable to the very software doing the reading so that nothing is stored or left behind in plain text.
With an increased number of remote workers in the past decade, employers should now be mindful of threats to our workforce. A zero-trust architecture, or two-factor authentication for all users, will impede cybercriminals from getting access to sensitive data, as it’s been shifted away from the stationary networks and towards the end user.
Reaching a step change in cybersecurity will require looking forward and anticipating the new cyber threats of the future. Taking steps to maintain vigilance is necessary. To make a proactive stance in the future, companies need to be aware of these new cybersecurity trends.
Behavioral analytics helps identify users who intend to harm the organization by monitoring their activity. It can establish baselines and evidence to know who is unusual in their activity and take preventive or incident response measures to mitigate risk
The systems and methods of Elastic Log Monitoring allow companies to pull logs from anywhere in their organization into a single location and search, analyze, and visualize the data in real-time. In addition, native log-sampling features in core tools can help companies’ log management burden.
With Homomorphic encryption, third parties can still access your data sets without decrypting them. AI and machine learning can help maintain the organization’s ability to adapt to changing attack patterns. Finally, both automated technical responses and automatic organizational responses should be developed to reduce the risk of ransomware.
This automation will be risk-based and layered, ensuring any new vulnerabilities aren’t created. For example, automated software updates can be used for low-risk assets, with more direct oversight needed for higher-risk ones.
Organizations can use machine learning to identify when a system is noncompliant and remediates it. Teams can also make use of these technologies to optimize workflows, allowing team members to work more efficiently.
To tackle the frequency of ransomware attacks, you should utilize technical changes such as using backup data repositories and infrastructure, developing automated responses to encryption, and adopting advanced multifactor authentication. In addition, you should take organizational measures such as conducting tabletop exercises, developing detailed playbooks with contingency plans, and preparing for all contingencies.
There are responses to trend three, which is that tech companies should put safety measures in place. The best way to stay ahead of regulators is with security-as-code, which helps you deploy security capabilities.
Companies should embed cybersecurity into the design of their software, with security and technology risk teams engaging with developers throughout development. Developers also need to learn certain security capabilities, such as threat modeling, code scanning, and testing.
To better protect your systems, you should look at the benefits of migrating to a third-party cloud service. Platforms such as AWS and Azure offer more automation and scalability as well as more security. Standardizing and codifying processes create system resilience by enabling orchestrated patching and rapid provisioning. Along with mitigating risks, it helps security teams be prepared for regulatory inquiries.
New technology is inevitable and it results in rapid change. Organizations that plan to stay ahead of the game need to be aware of the associated risks. Hackers are using new vulnerabilities from technological advancements, and the best solutions quickly become obsolete with accelerating digital changes. Organizations that plan for the future must take proactive and relentless approaches to build defenses over and horizon with anticipatory technologies.