Cybersecurity is a process today's organizations can no longer afford to ignore. Between the high costs associated with data loss, regulatory consequences, and brand damage businesses absorb after an incident, there is a hefty price to pay. If you want to avoid the problems associated with cybersecurity, it is a good idea to keep up on the latest threats. Here are IT security trends your organization needs to know about in 2019.
Today's employees largely are on the go and many of them are using their own personal devices with their employer's blessing, since it reduces spending on equipment and maintenance. Companies need to recognize the cybersecurity threats associated with their BYOD policies and take steps to ensure proper precautions are taken. Partnering with a reputable vendor such as Verticomm is a solution many small- and medium-sized businesses take to help mitigate this growing threat.
In 2017, the number of IoT attacks increased by a whopping 600 percent. Despite these statistics, IoT is a tech that is not going anywhere in the near future. If anything, the "smart" movement has become a permanent fixture in our society, if the 8 billion already connected devices in the world are any indicator. Moving forward, businesses are likely to have an increased level of connected devices.This means they will have to be more vigilant about placing security on smart technologies used in the workplace if they want to avoid falling victim to this very real threat.
According to reports, it is anticipated about 80 percent of all internet traffic will be encrypted during 2019. While this tech is supposed to be positive on the privacy front to help meet regulatory requirements, unfortunately, savvy cybercriminals can exploit it to hide malware. Since security tools cannot inspect malware placed in encrypted traffic, this poses a problem. A PwC study suggests 60 percent of attacks will take place in encrypted traffic.
Ransomware has been a thorn in the sides of organizations for several years now.Cybercriminals have learned that organizations often will pay up to regain access and control over data being held "hostage". This trend is not expected to disappear. Experts predict ransomware will reach more than $11 billion in 2019, with attacks taking place every 14 seconds.On a related note, as virtual cash continues to make inroads into transaction options, "crypto-jacking" is also on the rise.
Unlike the other negatives, one trend watch in 2019 is positive. As artificial intelligence (AI) and machine learning technology forge forward along their paths to maturity, these are steadily proving to be valuable tools for cybersecurity initiatives. For instance, proactive firms can invest in AI and machine learning to help distinguish differences between "bad and good flows" of encrypted traffic malware, to name one use. Other ways it will be helpful in detecting cybersecurity problems without human intervention include:
· Establishing patterns related to cybersecurity and predicting events
· Diagnosing security issues in real-time
· Increasing fraud detection capacity
· Improving organizational response time to incidents
Unfortunately, the number of cybersecurity incidents occurring continues to rise, and many businesses are not prepared to handle the aftermath. The numbers indicate about 75 percent of organizations do not have a formalized cybersecurity incident plan in place. Even worse, on average, it takes a company 191 days to realize an incident has happened. In that period of time, a lot of damage can be done to a business's data assets, along with putting customer information at risk. While we are still reaching the horizon of AI-based cybersecurity tools, overtime-predictive cyber protection will evolve to be the norm and AI can help reduce these alarming statistics.
Statistics suggest 75 percent of breaches are caused by external factors. Most small- and medium-sized businesses recognize there is a problem; however, many are not yet fully on board with proactive solutions either due to the logistics or costs associated with implementing these measures. If your business needs help mitigating the cybersecurity threats you will face in 2019 and beyond, contact Verticomm today to get started.