As technology advances, so does the way organizations store and manage data. In turn, this increases the risk of a cyber security breach. For this reason, cybersecurity is one of the top concerns for organizations in 2022.
One of the main drivers of this increased risk is the ever-expanding digital footprint of businesses. As more and more data is stored online and accessible remotely, the potential for a cyberattack increases. Additionally, as companies move to cloud-based storage solutions, they become more vulnerable to ransomware attacks and other malicious threats.
Another factor that has led to increased cyber security concerns is the growing trend of Bring Your Own Device (BYOD). With employees bringing their own devices into the workplace and connecting to company networks, there are more opportunities for hackers to gain access to sensitive information.
Trend No. 1: Attack surface expansion
As organizations become more digitized, the attack surface expands. This means that there are more potential points of entry for cybercriminals to exploit. In addition, as businesses rely more on cloud services and connected devices, the risk of a data breach increases. To mitigate these risks, organizations need to be proactive in identifying and addressing vulnerabilities. They also need to employ robust security measures, such as firewalls, intrusion detection systems, and anti-virus software.
Trend No. 2: Identity system defense
In the wake of numerous cyber attacks in which personal and confidential information has been stolen, organizations are looking for new ways to protect their identities and confidential data. One of the latest trends in identity protection is identity system defense, which is a security approach that focuses on protecting the underlying systems that house personal data.
Identity system defense is a layered approach that uses multiple security technologies to protect data. These technologies can include firewalls, intrusion detection systems, and authentication methods. By using multiple layers of security, identity system defense can reduce the risk of a cyber attack succeeding.
Organizations that are considering implementing an identity system defense strategy should consult with a security expert to create a plan that will best meet their needs. There are many different technologies available, and not all of them will be appropriate for every organization.
Trend No. 3: Digital supply chain risk
As technology advances, businesses are increasingly reliant on digital systems to manage their supply chains. This trend has created new opportunities for businesses, but it has also introduced new risks that must be managed. One of the biggest risks is the possibility of a cyberattack that disrupts the flow of goods and information through the supply chain. Hackers could target suppliers, transportation providers, or customers in an effort to cripple the business. Another risk is the potential for data breaches that could expose confidential information about customers or suppliers. Businesses must take steps to protect themselves against these threats by implementing strong security measures and by developing contingency plans in case of a cyberattack or data breach.
Trend No. 4: Vendor consolidation for integrated systems
In the past, organizations have deployed a variety of security products from multiple vendors in order to secure their networks. However, over the past few years, there has been a convergence of security products and vendors. Vendors are now consolidating security functions into single platforms in an effort to make it easier for organizations to secure their networks. As a result, organizations can now deploy a single platform that provides all of the security functions that they need. While this may be more convenient for organizations, it also presents a challenge because it can be difficult to determine which platform is best suited for their needs.
Trend No. 5: Cyber security mesh
Mesh networks are a modern, conceptual approach to security architecture that enable the distribution of security controls across many devices, creating a “mesh” of protection. This allows for comprehensive security coverage while minimizing the impact on network performance. The mesh can be extended to include both on-premises and cloud-based resources, providing a single pane of glass view into all aspects of the organization’s security posture.
Trend No. 6: Distributed decisions
In order for businesses to succeed in the digital age, they need to have a fast and agile cybersecurity function in place to protect their critical data and systems. executive leaders need to be able to make decisions quickly in order to thwart cyberattacks and protect their businesses. Cybersecurity professionals need to be able to keep up with the ever-changing technology landscape and be able to implement new security measures quickly.
The role of CISO or Chief Information Security Officer is becoming increasingly difficult as cybersecurity threats become more sophisticated. The centralized CISO role is no longer feasible due to the enormity of the job. Companies are now hiring multiple CISOs with specific domain expertise in order to properly protect their networks and data.
Trend No. 7: Beyond awareness
Human error continues to feature prominently in data breaches, highlighting the need for a new approach to cyber security. Despite the increasing sophistication of cyber-attacks, many organizations remain vulnerable due to employee mistakes. A recent study by IBM found that human error was responsible for more than 91 percent of all data breaches.
This is not surprising, given that humans are fallible creatures. We make mistakes, we get lazy, and we sometimes just don’t bother to follow best practices. Cyber security is no different – even the most vigilant employees can make a mistake that leads to a breach.
The good news is that there are ways to mitigate the risk of human error. Training and education are essential, as is creating a culture of security awareness. Employees need to be made aware of the dangers posed by cyber-attacks, and they need to be given the tools they need to protect themselves.
Compliance-based awareness campaigns, which focus on informing employees of their obligations under company policies and compliance regulations, are no longer enough to keep organizations safe from cyber threats. Progressive organizations are now investing in risk-based awareness campaigns, which use data analytics to identify and target specific risks to the organization. This shift is necessary as the traditional compliance-based approach can only identify a small percentage of potential attacks. Additionally, risk-based campaigns help to build a more security-conscious culture within an organization by empowering employees to be proactive in identifying and mitigating potential risks.
What you can do?
Rethink the security technology stack to address sophisticated new threats.
The security technology stack is a term used to describe the various security technologies used to protect computer systems and networks. The typical stack includes firewalls, intrusion detection/prevention systems, anti-virus software, and identity and access management tools.
However, the traditional security technology stack is no longer adequate to protect against sophisticated new threats. For example, cyber attackers are now able to penetrate firewalls and steal data using malware that is designed to evade detection by traditional anti-virus software.
Organizations need to rethink their security technology stack and deploy new technologies such as next-generation firewalls, sandboxing technology, and big data analytics to address these new threats.
Push cybersecurity decision making out to the business units to improve your security posture.
Businesses have been struggling with making decisions about cyber security for years. Many factors go into these decisions, and they are not always black and white. The problem is that the IT department or security team is often left to make these decisions without input from the business units. This can lead to poor security posture and even data breaches.
A new study has shown that businesses can improve their security posture by pushing cybersecurity decision making out to the business units. By involving the business in these decisions, you can get buy-in from them and ensure that they understand the risks and benefits of each decision. You can also create better policies and procedures that are specific to the business unit’s needs.
The study found that businesses who involve the business units in cybersecurity decision making had a 50% reduction in data breaches.
Evolve and reframe the security practice to better manage cyber risk.
In the world of cyber security, the term “risk” is often used. However, what does this term really mean and how should it be managed? The National Institute of Standards and Technology (NIST) has defined risk as “the potential that a given threat will exploit a vulnerability and cause harm.”1 Cyber risk is then the combination of the likelihood of a threat exploiting a vulnerability and the impact that would have on an organization. To manage cyber risk, organizations need to first understand both their vulnerabilities and their threats. They also need to identify which risks are most important to them and what impacts those risks could have. After that, they need to put in place controls to mitigate those risks. Often, these controls will be different for each organization depending on its size, structure, and business priorities.
The Top 3 Strategic Priorities for Security and Risk Management
Strategic planning is a critical part of any organization, and security and risk management are no exception. In order to be effective, your security and risk management strategy must be aligned with your organization’s overall business strategy. Here are the three most important strategic priorities to keep in mind when creating or updating your security and risk management strategy:
- Protect your organization’s most valuable assets. What are the things that are most important to your business? Whether it’s customer data, intellectual property, or brand reputation, you need to make sure that your security strategy focuses on protecting these assets.
- Manage risks effectively. Every organization faces different risks, so it’s important to tailor your risk management strategy accordingly. You need to identify potential risks and develop plans to address them before they cause damage to your business.
- Communicate with stakeholders. In order to implement effective security policies, you need to ensure that your organization’s stakeholders understand how the new security measures will affect them. You can achieve this by communicating the risks and benefits of your technology solutions in a clear and concise manner.
3 Must-Haves in Your Cyber security Incident Response Plan
A cyberattack can happen to any business, no matter how big or small. It’s important for businesses to have a cybersecurity incident response plan in place to help mitigate the damage and protect their data. Here are three must-haves for your plan:
- A process for reporting and responding to incidents. When a cyberattack occurs, it’s important to have a process in place for notifying the right people and taking steps to contain the damage.
- A communication plan. In the event of an attack, you’ll need to communicate with employees, customers, and other stakeholders. You’ll also need to keep track of who you’ve contacted and what they’ve been told.
- A recovery plan. After an attack is contained, you’ll need to start the recovery process.