Top Five Critical Cybersecurity Threats to Watch Out

By Enterprise Security Magazine | Friday, November 30, 2018

With the technology sector booming at a rapid pace, the business of all sizes must be prepared for all sorts of dangers, so they have the flexibility to withstand unexpected high impact security events. Every minute we are witnessing, therefore, our approach towards managing the security functions of a business needs to be advanced as well. With new technology developing, the malicious actors have also found new alternatives to impact an organization's security.

The five major security threats that need to be addressed are:

1. Crime-as-a-service: CaaS is when a group of cyber actors or a professional criminal develops advanced tools and other services which are either offered up for sale or rent to the other criminals who are less experienced. Therefore, cybercrimes will be more prevalent in the coming years, and the chances are high that theses cyber actors will tend to target small and medium-sized enterprises as they can't afford to spend what a large firm does on cybersecurity.

2. Internet of Things: IoT is providing exceptional experiences to its consumers but is also a brand new target for hackers. IoT has simplified everything from home appliances, office environments to automatic retail stocking. These are the ways where IoT is making technology more seamless, but unfortunately, cybercriminals are carrying out criminal activities by hacking databases, attacking websites and also stealing passwords.

3. Supply Chain is the weakest link: Supply chain is referred to as the backbone of the global economy. Whenever sensitive information is shared with suppliers, direct control is lost. This leads to an increased risk of the data security, integrity, and availability being compromised. Protection cannot be detected beforehand but being proactive can help in better decisions.

4. Regulations may add to complexity: New law, for example, the European Union General Data Protection Regulation (GDPR), will add another layer of complexity to the issue of critical information asset administration that numerous associations are now battling with. The GDPR means to set up similar information assurance levels for all EU residents and will center around how associations handle individual information. Organizations confront a few difficulties in accepting the change, including the lack of awareness among internal stakeholders. In the longer term, associations will profit by the consistency introduced by the difference. However, it isn't merely in the territory of privacy where legislation will bite. The increasing burden of consistency and authoritative variances across jurisdictions will build the weight for multi-nationals and those organizations who are targeting international trade.

5. Unmet Board Expectations: Boards will always expect immediate results for information security. However, a full secure organization without any breaches is an unattainable goal; therefore, organizations will take time to improve the information security, even when they have the correct skills and capabilities, and boards need to understand it. Misalignment between a board's desires and the reality of the security's capacity to deliver will be most cold-bloodedly uncovered when a significant occurrence happens. Not exclusively will the organization confront considerable impact, the repercussions will likewise reflect poorly on the individuals and reputations of board members as well.