Each year, there is always an evolution in the global cyber threats aspects, and 2018 is no exception. The Information Security Forum, ISF, has projected an increase in number and effects of data breaches that businesses will encounter in 2018 which are expected to increase the volume of damaged records. This will be brought about by the rise in the revolution of the defense mechanisms that have already been put in place and targeting the personalized weak spots. Breach of data jeopardizes the accuracy of investments and has an adverse effect on the total costs of the organization due to tighter data protection legislation to cater for network clean up and customer notification.It is therefore vital for every business to take the necessary precautions to combat the ever-rising cases of security threats.
The following information security threats are expected to dominate in 2018.
- Crime as a service
Crime as a service is not a minor trend but a game changer, particularly in small businesses. In the recent past, it has gradually risen and is thought to have a powerful effect on the world of cybercrimes in 2018. Crime gangs have improved their ability to facilitate potential skills and share information. This, in turn, gives inexperienced criminals a chance to launch complex cyber-attacks and crimes.
- Supply chain as a weak link in risk management.
Supply chain makes it possible for important and sensitive information to be shared with suppliers. This often leads to loss of direct control which increases risks and compromises customers’ confidentiality and integrity. Hackers have found ways of getting into a network through vendors on a remote basis and after getting through the connection, they eventually access the target system and cause major disruptions.
- Regulations that will add to the complexity of critical asset management
New reforms for asset management are expected to be introduced, and given the complexity of this critical issue, many organizations who are still struggling with putting into place the current regulations will have a hard time implementing the newly advanced reforms because of the additional resources required to ensure compliance. These reforms, however, are thought to be of benefit to businesses in the long run and will help provide solutions for data protection.
- Major incidences which will expose unmet board expectations
Often at times, the expectations are always high whenever a budget is approved for a planned project. This is not a different case for an approved budget of an increased information security system cost. The management anticipation for immediate results will decline if the project is not executed within the expected timeline since the advancement of information security is a process and often takes time. This easily exposes occurrence of major system risks incidences because of the variables involved. The effects will ultimately discredit the board members collectively and individually.
- The Internet Of Things (IoT) causing uncontrollable risks
Although most organizations have embraced the IoT, the devices are not fully secure because the terms and conditions are often ambiguous. This accords an organization’s permissions to tamper, use or modify customer’s information which causes transparency abuse that can result in organizations being held accountable for abuse and damages by customers and regulators for data breaches.