Everyone in the IT department—the executives included as well, needs to keep pace with the various cyber security threats transpiring so as to protect better their IT infrastructure.
And as another year has just begun, knowing the possible security trends that would arise this 2016 is crucial in efficiently addressing the different challenges and issues that the business may encounter to avoid breaches and reputational damages and maintain privacy and data integrity, among others. Further, this is important in getting ahead of the intensifying competition in the entire online landscape.
To strengthen your knowledge on cyber security and have a good start for the year, here are the IT security predictions for 2016 that you should take advantage of.
1. Internet of Things (IoT)
The IoT is anticipated to reach a critical level of awareness and accountability, as it becomes more vulnerable to attacks by mercenaries, hacktivists, terrorists, and other parties.
This threat can be linked with the increasing popularity of utilizing the IoT among the market since it brings about significant contributions. However, these are exploited without taking into consideration even the most basic safety measures that it needs.
Since these devices collect confidential information, the threat is focused on stealing data that can greatly harm the business.
Eventually, this will result in damaging the entire company, as their customers begin to lose their trust.
2. EMV Chip Card Technology
While the adoption of digital wallet has been very convenient and has reduced counterfeiting of credit cards, it still poses a threat as more fraudsters will go online to monetize fake and stolen cards. They’ll continue to look for new areas of vulnerability to conduct illegal purchases.
As business leaders, it is your responsibility to find new ways to improve your controls, come up with fresh risk management strategies, add security questions, and all IT solutions you can think of for securing your customers.
3. Extortion of Data
Although this isn’t relatively new, extortion attacks will spike exponentially in 2016. Nobody can really escape public shaming—regardless if it was a personal attack or for the entire business, extortion of data can happen to anyone.
So, ensure that relevant data such as your client information, customer list, and codes are well-secured to prevent major site breaches that may significantly affect the business operation.
4. Newly Developed Tools
Avoid getting hyped and eager with all the developments presented to you. While the benefits of such can be overwhelming at first, it is also important to evaluate the pros and cons of such before integrating it into your business.
Most of the time, these tools were created by cyber criminals as substitutes to the traditional attacks, which have the same—or even greater breaches. As modernization is upon us, so does the manner with which hackers conduct their activities. So, remember not to fall prey to these tricks.
5. System Updates
Conducting regular system updates is a must in the IT department, as not having such can lead not only to major issues but also expensive ones. Updates are critical in the maintenance since outdated systems are likely to cause havoc that may not be resolved. Further, slow structures can affect daily operations too.
Just as how staying abreast with the technological trends is vital, performing updates is important as well.
6. Fraudulent Transactions
For businesses that utilized social media platforms for their e-commerce, take into account the potential hazards of online transactions. Since purchasing is pretty easy, cyber criminals may perform fraudulent transactions to mess up with your operations.
Whereas many businesses have widely used the Cloud for data storage, and hacking has been evident in the previous years, development of new techniques will still be in the process this year.
Computation infrastructure, for instance, enables hackers to be anonymous and easily hide behind network sources. Other strategies include mimicking cloud login screens and the use of credentials to cloud services that would serve as their primary attack vector.
8. Smaller Businesses
Large organizations may seem to be the usual targets by cybercriminals, but hacking smaller companies can actually be more profitable. By collecting data through analytics on small-medium sized businesses, hackers can combine all these to have greater valuable data. Thus, it is important to be cautious as well, regardless of business size.
9. Developing Countries
In relation with the previous item, developing countries that haven’t experienced attacks are seen to be susceptible to damages this year. Once these small countries have entered the fray, conflicts would arise—resulting in bigger and more sophisticated attacks throughout the world.
10. Lack of Talent
Manpower remains to be a valuable asset in the whole cyber security concept, and failing to focus on investing in talent can also lead to huge problems.
This 2016, more people is expected to have access to the internet. Thus, the increase in targets by hackers as well.
Bearing this in mind, the number of security breaches won’t come down anytime soon. Boost your security measures as early as now and take note of these ten predictions for a positive 2016!