As technology has evolved, so has the standard of cybercrimes. According to a survey by Infosecurity Magazine, a record high of 1,442 cybercrime incidents, and 3.4 billion data breaches were recorded in 2017. It is fair to say, 2017 gave its fair share of sleepless nights to CIOs around the world. While 2018 has seen that number drop in Q1, with 686 breaches reported between January and March this year, CIOs need to be aware of what to protect their organizations from.
Here, we list a few emerging threats as shared by The Information Security Forum (ISF), CIOs need to be aware of in 2018.
IoT Based Attacks
The internet of things (IoT) adoption rate has seen plenty of traction in the last few years. However, IoT devices are vulnerable by design. Devices like smartphones, and smartTVs are prone to hackers and can be used to secretly monitor situations. The Information Security Forum (ISF) has warned companies to be weary of protecting user data, as well as increasing transparency in what networks or data transfer paths they follow.
New Regulations
Our growing dependence on technology, means technology laws will continue to evolve in 2018. For example, the EU General Data Protection Regulation (GDPR), that came into effect mid- 2018, further adds complexity to how a company manages critical data. The new rule not only makes a company accountable to a common governing body, but the user themselves. Now, a user can directly question you about the state of their data, and how it is being used. Companies are expected to be transparent. Failure to comply, not only leaves an organization open to lawsuits from a user, but also hefty fines from the government.
Supply Chain Risks
Businesses have a supply chain that involves sharing sensitive information with suppliers periodically. As such, unprotected supply chains increase the risk of data breaches. Can you track where your data is at each stage of the lifecycle? Can you verify where your data lifecycle stops? The ISF recommended companies to adopt strong, scalable and repeatable security measures embedded within the supply chain processes to minimize risk.
New Security Measures to Counteract Threats
It’s not all doom and gloom as CIOs can be armed with the latest defense technologies against such threats. For example, one the latest standards doing the rounds in cybersecurity is UEBA.
User and entity behavior analytics (UEBA) technology analyzes all your user activity data from various and network traffic channels. It does so using artificial intelligence (AI) and machine learning (ML) techniques to detect malicious intrusions into your IT environment in real-time. Using advanced intrusion protection systems like UEBA on top of VPNs, Single Sign-On (SSO) and IAM, companies can work proactively to counteract threats as they emerge.
What Can You Do As A CIO?
A data breach can cost a company, millions in lawsuits, and damages. As the Chief Information Officer (CIO) of a leading organization, you have to find a way to solve these challenges. You can choose to build an effective cybersecurity team to deal with data security and security threats in-house. However, that can be cost and time-intensive for a small business and a distraction from core competencies.
Alternatively, you can choose to partner with an able managed service provider (MSP) like ProV, and outsource your IT security needs. ProV’s global team of expert and support capabilities provide you with a range of proactive IT security and compliance services for a flexible fee that keeps attackers at bay. To learn how you can upgrade your defense against cybercriminals, download our FREE Ultimate Data Loss Prevention and Survival Guide below, or contact us today.
