Cyber Security Trends companies should prepare for
Whether you’re a startup or multi-national business; cyber resilience should be incorporated into every team’s strategy and processes. Cyber threats continue to evolve at an alarming pace, so staying ahead of the curve is crucial. Data security threats are becoming more sophisticated and prevalent so the online and digital landscape must change to keep up.
Over 70% of business professionals say their data privacy efforts are worth it. And that their business receives “significant” or “very significant” benefits from those efforts.
Here at DataConnectivity, we’re kept informed of evolving cyber security trends from our own due diligence as well as talking with our IT partners and industry peers. Below are some key areas we’ve identified to watch out for.
1. The Rise of the Machines: AI and Machine Learning in Security
Hot media topics, artificial intelligence (AI) and machine learning (ML) are no longer futuristic concepts; they are actively shaping the cybersecurity landscape. This year, we'll likely see a further rise in their application:
● Enhanced Threat Detection: AI and ML algorithms excel at analysing massive datasets. This enables them to identify patterns and anomalies that might escape human notice. This translates to a quicker detection of and reaction to potential cyber threats.
● Predictive Analytics: AI can predict potential vulnerabilities and suggest proactive measures. It does this by analysing past cyberattacks and security incidents.
● Automated Response: AI can go beyond detection and analysis. Professionals can program it to automatically isolate compromised systems as well as block malicious activity and trigger incident response procedures. This saves valuable time and reduces the potential impact of attacks.
David Moss, CEO of DataConnectivity adds: “a lot of companies and universities are in the process of writing and adopting their own AI use policy, much in the same way BYOD (bring your own device) needs policy and compliance. Most of our exposure to AI is with customers own staff informally adopting a bring your own AI and this needs to be assessed for risk and good practice (i.e. not sharing company confidential information or secrets with the algorithms in case they are misused or influence the AI in other ways.”
AI and ML offer significant benefits but it's important to remember they are tools, not magic solutions.
2. Battling the Ever-Evolving Threat: Ransomware
Ransomware is malicious software that encrypts data and demands a ransom for decryption. It has been a persistent threat for years. Unfortunately, it's not going anywhere soon. Hackers are constantly refining their tactics, targeting individuals and businesses alike. Here's what to expect:
● More Targeted Attacks: Hackers will likely focus on meticulously selecting high-value targets. Such as critical infrastructure or businesses with sensitive data. They do this to maximise their impact and potential payout.
● Ransomware-as-a-Service (RaaS): This enables those with limited technical expertise to rent ransomware tools. This makes it easier for a wider range of actors to launch attacks.
● Double Extortion: Besides encrypting data, attackers might steal it beforehand. They then may threaten to leak it publicly if the ransom isn't paid, adding pressure on victims.
“Backups are key layer of defence for business protection and dealing with the aftermath of a ransomeware attack. Prevention through training (we offer information security workshops to customers), software tools and business continuity planning. We can help with all of that.” - David Moss, DataConnectivity
3. Shifting Strategies: Earlier Data Governance and Security Action
Traditionally, companies have deployed data security measures later in the data lifecycle. For example, after data has been stored or analyzed. But a new approach towards earlier action is gaining traction in 2024. This means:
● Embedding Security Early On: Organisations are no longer waiting until the end. Instead, they will integrate data controls and measures at the start of the data journey. This could involve setting data classification levels as well as putting in place access restrictions. They will also be defining data retention policies early in the process.
● Cloud-Centric Security: More organisations are moving towards cloud storage and processing. As they do this, security solutions will be closely integrated with cloud platforms. This ensures consistent security throughout the entire data lifecycle.
● Compliance Focus: Data privacy regulations like GDPR and CCPA are becoming increasingly stringent. As this happens, companies will need to focus on data governance to ensure compliance.
“This is following the GDPR regulations of performing a Data Protection Impact Assessment (DPIA) before systems that store personal or sensitive data are adopted. The DPIA requirement effectively makes these action above a legal requirement. We can help wtih this on a consultancy basis and input thought and consideration during regular ongoing meetings with our managed customers.” - David Moss, CEO of DataConnectivity
4. Building a Fortress: Zero Trust Security and Multi-Factor Authentication
We're in a world where traditional perimeter defenses are constantly breached. This is why the "Zero Trust" approach is gaining prominence. This security model assumes that no user or device is inherently trustworthy. Users and programs need access verification for every interaction. Here's how it works:
● Continuous Verification: Every access request will be rigorously scrutinised. This is regardless of its origin (inside or outside the network). Systems base verification on factors like user identity, device, location, and requested resources.
● Least Privilege Access: Companies grant users the lowest access level needed to perform their tasks. This minimizes the potential damage if hackers compromise their credentials
● Multi-Factor Authentication (MFA): MFA adds an important extra layer of security. It requires users to provide extra factors beyond their password.
We know that 43% of all cyber breaches happen in small businesses so we prescribe Microsoft 365 and Two Factor Authentication which allows businesses to have full control over who has access to your data.
5. When Things Get Personal: Biometric Data Protection
Biometrics include facial recognition, fingerprints, and voice patterns. They are becoming an increasingly popular form of authentication. But this also raises concerns about the potential for misuse and privacy violations:
● Secure Storage Is Key: Companies need to store and secure biometric data. This is ideally in encrypted form to prevent unauthorised access or breaches.
● Strict Regulation: Expect governments to install stricter regulations. These will be around the collection, use, and retention of biometric data. Organisations will need to ensure they adhere to evolving standards. They should also focus on transparency and user consent.
DataConnectivity offers this as part of a GDPR input and associated certifications such as ISO27001 and GDPR improvement work.
Practical steps you and your organisation can take
● Stay Informed
● Invest in Training
● Review Security Policies
● Test Your Systems
If you’re a company operating in Cambridgeshire and beyond without a dedicated IT Team, we appreciate it can be a challenge to keep on top of everything. Please drop us a line if you have any concerns or questions regarding your IT security.
Trends sourced from The Technology Press.