The evolution of being a digital world has been gradual and with each step, we seem to be getting closer. Transactions have become faster and easier. This transition to a digital economy requires networks to evolve faster than before. Applications, data, and services need to flow faster and in greater volumes. With this transition also comes a higher exposure to risk. The Internet of things and cloud-based applications now require organizations to worry about attacks on elements that may not even be visible to IT professionals.
This whitepaper looks at recent networking trends and the real threat they pose to organizations that are not prepared. It also explores ways to implement new security strategies that will make companies confident to welcome opportunities of the digital economy.
THE INTERNET OF THINGS
Some experts believe that soon there will be 4.3 internet-connected devices for every individual on the planet. There are currently three different groups of IoT devices.
The first is customer IoT, which includes everyday devices, such as smartphones, watches, and cars. The second, commercial IoT and the third, industrial IoT are usually unseen by customers. Commercial IoT includes inventory controls and device trackers while industrial IoT includes connected meters and pumps, pipeline monitors, manufacturing floors and automated industrial control systems. Many IoT devices were not designed with security in mind which presents an even higher risk.
As technology gets smarter, the threat to sabotage this growth continues to grow. Money is the primary factor behind many cyber attacks. According to some experts, in 2016, the total cost of ransomware topped $1 billion. However, the impact it has on organizations goes far beyond just money, considering the fact that public ransomware attacks can undermine customer confidence and deflate brand value. Threats are getting smarter and harder to detect.
THE CYBERSECURITY SKILLS GAP
There is a severe shortage of skilled cybersecurity professionals and the numbers point to such a dire admission. Seventy percent of organizations have been impacted due to this shortage. Fifty-four percent admitted that a security event experience last year was due to a lack of security staff or training. No preventive measures can be implemented effectively due to this lack of skill and training.
Apart from these, there are other factors to consider including moving to the cloud and secure-sockets-layer data encryption. Sophisticated networks require high-speed authentication and monitoring. A bifurcated approach to monitoring sensitive resources and the integration and automation of traditionally isolated security technologies can be looked at.
Organizations must reinvent the wheel of deploying security tools and measures. To do so, there needs to be a holistic approach to security strategy.
Download Whitepaper on Scanning the Horizon for Security Threats