Information security and compliance are two of most important topics for business to consider in 2018. With ransomware and other malware attacks growing exponentially, the question that many businesses must answer is clear.
Here are some of the most important information security and compliance trends that 2018 will bring our way.
Security Breaches Based Due to Lack of Basic Security
There will be more large companies that face huge breaches in 2018. Although there were reports of many large financial services companies and other industries falling prey to massive hacking efforts, there is very little data showcasing that other industries have taken proper measures to protect themselves. If this is the case, you can definitely expect more reports of data being compromised, posted on the Internet or otherwise given out for the world to see.
Hackers are only getting more sophisticated in every aspect of the business cycle. In order to ensure your financial and personal information is safe, you should check into the precautionary measures that your chosen companies are implementing when it comes to information security.
There will be more ransomware attacks in 2018 than in 2017. Even companies that protect themselves from malware do not realize that ransomware is a completely new kind of operation. Most antivirus solutions do not handle ransomware – you need a software security program that states “ransomware protection” specifically.
The WannaCry ransomware attack was one of the largest malicious software attacks in the history of the world. It was only possible because of the ignorance of the wider population to the technology and process of ransomware. However, it became much bigger than it should have been because when people heard about it, they assumed it was less damaging than a “real” malware attack.
Data Breaches Will Hit a Record High
Although small businesses will be more susceptible to attacks from malicious users, those crime rings that get too big can expect to be taken down by the combined efforts of many international law enforcement agencies. The United States and Europe are beginning to cooperate in their efforts to reduce malicious users, and these actions are being supported by many emerging economies as well.
Is much easier for these law enforcement agencies to share information across borders than ever before. If any security hack gets so large as to affect more than one country, you can bet that governments will get involved. The problem will be getting those governments to focus on your problems if you are a small or medium-sized business. Odds are you will not get that kind of attention.
“The cumulative cost of data breaches is expected to reach a whopping $8 trillion according to research firm.” source: Juniper Research
A Focus on Cryptocurrencies
Bitcoin and other cryptocurrencies are receiving a great deal of attention from companies in many industries. Recently, a startup firm in El Segundo started a cryptocurrency specifically for the purchase of houses. They have already purchased houses in Dallas and Miami, and they expect to spread the business because of the proliferation of this digital technology. Many industries are seeing a great deal of advancement because of cryptocurrency, and as such, you can expect that malicious hackers will focus on this much more.
If you are involved with a company that uses any kind of cryptocurrency, you should take special care to watch for malware, known as cryptojacking.
Cryptocurrency in general is a less secure kind of digital technology because it does not try to attach itself to governmental authorities. If your money is lost in cryptocurrency, you may not have anyone to turn to. The bad guys know this, and this is why they will turn more of their attention to cryptocurrency in 2018. If you are going to use cryptocurrency, you should look to remain within compliance of the security measures that the industry is beginning to create for itself.
Cryptocurrency Shakedown for Hacker Payments
Companies that get caught up with malicious hackers may find themselves forcibly entering the cryptocurrency market.
“Many of these malicious hackers will only accept cryptocurrency as a ransom because of its relative anonymity,” according to Ian McClarty, a cybersecurity expert at PhoenixNAP, a Data Center and IT Company based in Phoenix, AZ..
As such, the company should definitely keep their eye on the cryptocurrency industry, because it may be the only way to get out of a precarious situation and preserve business continuity.
One single strain of malicious software can lead to absolutely devastating results. If it turns out that you do not have an authority figure to turn to in time, you should definitely understand the importance of keeping the currency that will allow you some leverage until you can get out of the situation.
Cyber Warfare Among Countries
At the same time that governments are trying to work together to stop large hacking efforts, they are also fighting for cyber territory. You will see a huge investment in cyber technology and cyber weaponry, especially in large nation states such as the United States and Russia. Both of these countries are ramping up efforts in the so-called space race very quickly, and this may leave an opening for malicious hackers to attack open targets.
Internet of Things Security Breaches
You can bet that with the proliferation of the Internet of Things that malicious hackers will turn their attention there as well. Before you invest in creating an entire house full of appliances that are interconnected, you should look at the security of the brands behind them.
There will be a great deal of consolidation between these companies in 2018. Many of these companies will be taken down because of security backdoors that they refused to take care of before the problem became too big. However, this does not necessarily mean that the companies that are left are any safer.