With each passing year, cybercrime is continuing to become a bigger threat. What’s more, a surprising amount of businesses fail to undergo the proper procedure when it comes to protecting their data and ensuring their employees, customers and clients are also protected and following procedure. From employees with weak passwords to customers trusting you with valuable data, how can a business best protect themselves in this digital age? Here’s what’s happening in cybersecurity right now.
- The New GDPR Regulations
The new General Data Protection Regulation (GDPR) regulations have recently been introduced, yet it has been estimated that 80% of online companies affected by the new international legislation will fail to comply to the new online data rules. It’s also been recorded that 56% of organizations are reportedly unclear about the consequences of non-compliance, which can include public shaming and fines that can leave a business out of pocket and filing for bankruptcy. If you’re undergoing the change and need guidance on how to follow the proper protocol, Sage has an in-depth guide on GDPR regulations, detailing how you can comply, and more importantly, why should.
- An Increase in Multi-Factor Authentication
63% of confirmed data breaches are reportedly due to weak, default or stolen passwords. Single-factor authentication is, therefore, posing a serious risk to data security. Despite the enhanced security benefits of multi-factor authentication, many companies are choosing not to implement MFA, as they might believe it could negatively impact the user experience. However, due to the rise of identity theft, it would not be surprising to witness more companies utilizing multi-factor authentication in 2018 and beyond. This could be multiple passwords, having a pin and a password, a key or even a thumbprint.
- Cybersecurity Talent Shortage
Anyone passionate about technology should consider entering a career in cybersecurity. Due to a talent shortage, cybersecurity specialists in a niche field can charge a premium price for their knowledge and skills. What’s more, clients and customers will seek their services, as there will be limited competition in the industry. So, if you’re thinking of a career in technology, you would be wise to enter the cybersecurity field.
- AI & Machine Learning
Artificial intelligence (AI) and machine learning are two innovative technologies that can easily interpret complex data. This particular tech is therefore expected to provide enhanced cybersecurity protection in 2018 and beyond, as it can analyze large amounts of data to predict the future and find weak points. The only problem is that cybercriminals may also attempt to use the technology, too. For example, they might try to use AI to automate data collection from social media platforms, support forums, and more.
- Sophisticated Security Technology Adoption
Don’t be surprised to witness companies adopting more sophisticated security technologies in the future. For example, remote browsers are an effective way to isolate a browsing session from a network, which can increase cybersecurity. Endpoint Detection and Response (EDR) is also one cybersecurity solution that’s expected to become increasingly popular, as it can monitor endpoints before alerting an admin to suspicious behavior.
- IoT Ransomware
IoT (Internet of Things) ransomware might not be catching the attention of the media, but it could pose a serious risk to data security. While it’s unlikely anyone would pay a ransom for encrypted data on an IoT device at present, it’s essential not to underestimate the damage it could potentially cause in the future. For instance, cybercriminals may choose to target a power grid, and could shut it down if a victim fails to pay a ransom on time. Hackers could also target other IoT technologies, such as smart cars, factory lines, and even smart home appliances.
