Cyber security is a continuously evolving enigma which cannot be ignored by the organizations anymore. Since the attack techniques are getting intrusive as well sophisticated, it has become mandatory for a business to invest in its cyber security to minimize the chances of cyber attacks. In this article, we will discuss five of the most serious cyber security issues and challenges for modern-day businesses.
1. Data Storage Location
We are about to complete the second decade of this millennium and data has become a necessity to survive the cut-throat competition, or in other words, it is a critical asset of modern-day businesses. Hence, it is only reasonable to ensure the maximum level of protection for this asset. Encryption of data while at rest and during the transition, safe data storage, regular backups, and recovery of the data are a few issues that will continue to puzzle the decision-makers.
2. Business Networks
All the computers of an organization are connected to one or multiple business networks which cover the entire organization. Most of the businesses have a static perimeter network model which is not efficient anymore. If a network at large is vulnerable, other security controls such as data leakage prevention, encryption, etc. are simply rendered useless. If an organization cannot afford to hire in-house security experts, an appropriate vendor must be chosen to improvise their organizational security.
Irrespective of the sophistication of security controls implemented by your organization, they are of no use if people covered under its scope are digitally illiterate. So often, the weakest link in the entire cyber security system is humans and they continue to be so even in 2019. Apart from the threats posed by an insider attack, humans are bound to make unintentional mistakes which may lead to a significant impact on an organization’s financials via penalties, fines, loss due to an attack, and what not. A security information and event management solution is an ideal choice for companies to overcome this problem.
4. New Technologies and Threats
Internet of Things (IoT) devices are not only making personal life easier, but they are also increasing the effectiveness of business processes across many industries. If the perspective of an IoT-based device designer/manufacturer is taken into account, they are keen on connecting every device to the internet. Although there is nothing wrong with this thought process, concerns arise when security is an afterthought in the design and development of an IoT device, or it is ignored completely.
Other technologies that may impact substantially are artificial intelligence and machine learning. It is the case with every technology – it can be put to either a good use or bad use. If an organization implements an AI or ML-based solution, it is indeed a commendable step but if these technologies are used by the attackers, the impact can be disastrous.
Malware stands for malicious software and in its realm, it includes virus, trojan horses, spyware, worms, ransomware, rootkit, RAT, etc. Though 2017 is termed as the year of ransomware, it would be foolish to ignore it in 2019. Same goes for other types of malware as every now and then, there is a news article where an organization’s technical infrastructure has been crippled by a particular type of malware.