We are only a couple of weeks away from a brand new year. While this is usually the time many of us start writing down our new year’s resolutions, this is also the time to see which cyber-security trends we need to be aware of in 2018.
As cyber-attacks continue to grow, so do the various ways in which they are implemented. 2017 saw a wide-range of attacks from ransomware to phishing, that affected major corporations like HBO and Equifax. Spending on cyber-security is expected to hit well over $90 billion globally in 2018 and for a very good reason. Experts are predicting close to $6 trillion in global cyber-attack damage by 2021.
So what should everyone from small business owners to CEO’s of Fortune 500 companies be looking out for?
– Since the WannaCry disaster, Ransomware has been public enemy #1 and it continues to claim high profile victims. So what was in for 2017 seems to be coming back for an encore. You must back up regularly, keep patching and updating systems, and strengthen your real-time defenses. If you follow these steps, you can reduce the impact of Ransomware.
– There are always going to be new challenges and cyber-threats for you to face, so be sure your IT department is up to the task. You might be shocked to learn that the lack of trained cyber-security professionals is a serious problem for many organizations. Even with average annual salaries in the market continuing to rise, there are thousands of positions left unfilled because there aren’t enough qualified people. This is leading companies to hire external cyber-security firms. If you are comfortable with outsourcing, then that’s fine. But wouldn’t it be better to have a skilled IT pro right next to you when all hell breaks loose?
– Here’s some really bad news. You and your organization are very likely to experience a data breach in 2018. There’s no way to simply sugarcoat it. With that in mind, it’s vital you remember to not make an already dire situation much worse. Handle a threat with grace and calm. Don’t be like Equifax and delay the disclosure to your customers and business partners.
These trends, along with the threats and challenges that come with them, are not to be taken for granted. Practice proper data breach security techniques, have the best trained professionals by your side if and when something happens, and always be upfront and honest about the situation at hand.