As the world’s reliance on technology grows, so does the need for cybersecurity. Forty-four percent of businesses are concerned about the growing threat of cyber attacks on their data and information. The pandemic has made the workplace more digital than ever before, creating a prime opportunity for hackers to breach data and steal personal information. From 2019 to 2020 alone, the U.S. experienced a 311 percent increase in victims of cybersecurity and identity theft.
Additionally, cybersecurity legislation is also in development, with President Biden signing the bipartisan Cyber Incident Reporting Act this past March, as global businesses face increased risks over ransomware threats and fears of cyberattacks from Russia in the wake of its invasion of Ukraine. Critical infrastructure, such as hospitals, power plants and fuel pipelines, is particularly vulnerable to hackers and similar attacks.
However, as these concerns increase, businesses and employees are rising to the challenge and taking a proactive approach to protect themselves and their company data from various threats and attacks, including placing more of an emphasis on cybersecurity planning within their executive teams, integrating holistic incident response plans, and embracing new technology. Below are three cybersecurity trends that are positively affecting the field.
Evolving cybersecurity management within an organization
Internal restructuring of cybersecurity management is a huge shift that is happening within many organizations as attacks evolve and become more complex. Traditionally, enterprise companies hire a chief information security officer (CISO) for threat assessment and response, with the chief executive officer (CEO) and board of directors taking a backseat role in cybersecurity planning and protection. Moving forward, cybersecurity responsibilities within a corporation will be shared amongst many executives. The CISO’s role will change into more of a subject matter expert, evaluating the threat landscape and actual risks, outlining the costs involved with cybersecurity insurance and protective solutions, and recommending a comprehensive incident response plan. Armed with this information, the CEO or board of directors will then make response decisions and act on these recommendations. Similarly, cybersecurity readiness and planning will become key criteria in the evaluation of CEOs, and boards of directors will hold them accountable as well should an organization be unprepared.
Developing a corporate incident response team
The main goal of any smart security response is prevention. A 360-degree approach to security and risk assessment is standard issue when it comes to a physical security presence, but more and more companies are recognizing the importance of protecting their digital data as well as personnel. As part of this recognition, companies that previously did not have a security operations center (SOC) or preventative measures in place are taking active steps toward creating an incident response plan by evaluating the precautions they have in place, if any, and comparing them to regulatory requirements. These assessments, often dictated by the business model of the organization, provide a roadmap of clear steps toward improved security. These steps could include anything from replacing antiquated in-office antivirus solutions to incorporating next generation endpoint protection with forensics capabilities that protect company data on remote devices for employees who are now hybrid or completely remote.
This research and development leads to the creation and implementation of an incident response plan and team, because the goal is always to prevent a threat from happening and spreading. These response plans put clear, actionable steps in place for employees to follow to protect, prevent, analyze, and respond to a cybersecurity threat, and include a holistic approach to cybersecurity, from the product purchase, installation and deployment to the 24/7 monitoring and management of all digital company channels.
Embracing new technologies
The cybersecurity industry has progressed due to technological advancements, particularly within the last 20 years. However, much more growth and development are required to combat potential threats’ increasing number and complexity. Constant research, development and innovation are being conducted to evolve solutions as fast as new threats occur. The community as a whole lacks intelligence on potential threats, which is a general trend in security. The data provided by endpoint protection, email threat protection, firewalls, unified threat management platforms, and intrusion prevention systems and processed comprehensively through a SOC results in a more effective method of protecting a company’s digital assets and a quicker and smarter threat response.
Despite threats being on the rise, the future of cybersecurity looks bright. Overall, companies and their employees are being more diligent and understand the importance of protecting their digital assets. Shifts in cybersecurity responsibility within corporate executive teams, the development of holistic incident response plans, and the embracing of new technology are all contributing to an improved outlook. As more businesses begin to pay attention and understand these threats and the importance of precautions, the cybersecurity landscape will continue to gain momentum and improve.