In today's digital world, where everything is driven by technology, our data is always at high risk. Advancements in science and technology have made our lives easier and also raised concerns on various data security issues. It is proven that the data that we share over the internet is not safe until and unless we add layers of security.
In the backdrop of the COVID-19, there has been a tremendous increase in online data exchange, with more and more employees working remotely. Online shopping too, has reached new peaks. According to a Research and Markets report, about 50% of global shoppers have said that they are opting for digital payments more than they used to in the pre-COVID era. All this has increased the potential of data security breaches significantly.
Let us see the rising trends of data security, which the companies need to watch.
Limited Remote work security
Remote work is the new normal. However, it has increased the concerns of data security across the globe. According to the Annual Data Security report by GetApp, a software recommendation company, 45% of IT security managers believe that limited remote work security is the single topmost threat to data security as there is no assurance of security in the networks like an office.
Artificial Intelligence and Machine Learning
A majority of the firms use AI to reduce operational costs, to predict buying patterns, etc. AI and machine learning are efficient in detecting attacks on the network before they happen, but on the other hand, the same technology can be used by cybercriminals for breaching the data.
Increase in phishing schemes
Many individuals and companies have been receiving phishing emails almost every day. The majority of people are more likely to click on a malicious link by sharing their private information accidentally or installing malware or viruses on their devices. According to IBM X-Force, a cloud-based threat intelligence sharing platform, there is an increase of 4300 percent in corona virus-themed spam and phishing emails since Feb 2020.
Flaws in Data Classification
Many companies are providing full data access to their employees. According to Tech Republic's security report, almost 82% of the company data would be confidential, and employee access to them is unnecessary. Control over access to the company’s data and authentication needs to be more stringent.
The companies are prone to ransomware attacks. Ransomware is a type of malware that accesses the company’s files. The attacker demands a ransom amount to restore access. Once a system comes under a ransomware attack, it disrupts and destabilizes the company processes. The company's security policy needs to be strict and avoid attacks at a minuscule level.
Advancements in Encryption
Cybercriminals have become well-versed with techniques used for encryption. Encryption strategies for a company need to change periodically. Face recognition, ring signature, fingerprints, etc., can be implemented based upon the process and systems.
Data Privacy should be of prime importance
Data Privacy should be of prime importance in the current era. In this digital world, privacy needs to strengthen throughout the organization. It has to be aligned with other disciplines such as IoT, Legal, governance, etc., which means the consumer data collected through IoT or any other field should have only those for which there is consumer consent. This way, data privacy can be ensured.
Inefficient device controls and logins
A majority of the systems in many companies still follow password authentication methods to login to an application that is not secure anymore. If the employee leaves the desk, the application should automatically shut down without giving access to anyone, but unfortunately, companies do not have them implemented.
Security process automation
Due to the scarcity of security experts, many companies opt for an automated security process that works on a set of pre-defined security templates and functions. This system alerts the management about all the possible chances of attacks, but it keeps working on repetitive tasks other than focusing on critical security functions.
Integration of Consumer security
A consumer knows a brand through online media nowadays. It can be the product website or any other social media groups. The companies should ensure security at each level where the consumer interacts with the business. This is achieved by constant monitoring by cross-functional teams of the company.
Zero-trust network replaces VPNs
The traditional VPNs are getting replaced by businesses as the security over a VPN creates many problems. This has paved the way for the arrival of Zero-trust network access (ZTNA). The ZTNA enables businesses to control remote access to the applications and can be accessed only by a ZTNA provider.
Having listed out all the possible trends arising in the cybersecurity space, a business needs to make the right investments in implementing all the stringent security measures and keep on changing its cybersecurity policy and the advancements of the technology.