The world today is increasingly reliant on technology. That’s why information security threats are one of the most important issues today. In fact, some researchers estimate that data breaches will cost businesses more than $2 trillion by 2019.
These numbers are nothing to scoff at. The issues only become more difficult to prevent in a digital landscape that is constantly changing and evolving. It requires constant vigilance and risk management to prevent extensive losses.
While losses due to cyber-crime cannot be completely avoided, they can be managed and mitigated. It requires being more proactive than reactive about these events.
To begin protecting your bottom line, check out these top ten information security threats you can expect to see in 2019.
1. Connectivity Disruption
What business can effectively function with a connectivity disruption? It’s a nightmare for any business owner to even consider. Companies are so dependent on constant connectivity that it would be as bad as losing electricity. Unlike with electricity, however, there’s no backup generator for the Internet.
Targeted internet outages are a serious threat to important infrastructure like global trade.
Places like this company can help other businesses prepare by developing recovery plans should this happen.
Loss of connectivity could lead to supply chain shortages, and an inability to send and receive funds.
2. Information Distortion
After the last American election, it’s easy to see how information distortion can disrupt entire populations. The same is true for business, which relies on accurate information to function properly.
Spreading lies, rumors, and misinformation can help cybercriminals gain an advantage. Any form of business is vulnerable to these attacks. It’s difficult to determine if the data used to make important decisions is accurate.
An attacker can even use false information to damage the reputation and credibility of companies. They spread this misinformation through the internet. Even if this information is proven false, it’s likely that the company’s shares will still take a considerable hit. This allows hackers to manipulate the market in their favor.
3. Deterioration by Regulation
Both governments and the general public are deeply concerned about information security. As a result, new government regulations are regularly rolling out.
These regulations put pressure on companies to release sensitive data to authorities. While this is supposed to be for protective measures, it effectively increases the risk of data breaches.
Companies cannot control how government organizations collect or store sensitive data. It is clear, however, that the number of people who have access to these data stores will increase greatly.
Privacy laws also make it difficult for companies to monitor abnormal user behavior from within their systems. While companies cannot fight these regulations, they can work closely with their legal teams to specify what they can and cannot do.
4. Artificial Intelligence Attacks
Artificial Intelligence and Machine Learning software is an asset to most companies. It can be used to predict and identify cyber-security threats. Unfortunately, it can also be used as a threat itself.
Artificial Intelligence can distort information. Hackers use Artificial Intelligence to rapidly spread misinformation. This technology can automatically collect information to be used in a cyber attack. It can help hackers more easily crack user passwords.
5. Sandbox Resistant Malware
Today, malware is routinely detected through sandbox technology. However, just as with pests and pesticides, hackers are becoming immune to this method of extermination.
As cyber-security tools evolve and become more sophisticated, so too do the cybersecurity threats. Newer forms of malware have been configured to recognize when they are in a sandbox.
6. More State Sponsored Threats
Sadly, it seems the world is becoming ever more volatile. Yet, rather than focusing on physical attacks, states can now execute digital ones.
These digital attacks aren’t simply concerned with money but have far deeper implications. For example, they may manipulate the public, target voting systems, or cripple a political entity.
7. Need for Multi-Factored Authentication
It’s no surprise that most data breaches are due to weak passwords. Companies have a hand in this when they fail to employ multi-factored authentication.
These companies continue to use inadequate single-factor authentication. They worry the alternative will complicate the user’s experience. The cost, however, far outweighs the benefits.
The public is becoming more aware of cybersecurity threats. As a result, it is likely that the demand for and use of multi-factored authentication will increase.
8. Need for Sophisticated Security Technology
There are many new security monitoring systems that are currently in use and should become more popular in the future.
Some of these technologies include remote browsers that separate a user from the network.
Another one is deception technology used to trick hackers trying to steal data.
There is also Endpoint Detection and Response software. This software can alert system administrators to suspicious user behavior. Network Traffic Analysis is another way to track the nature of data traveling through the network. Auditing solutions are also important to monitor risky behavior in the network.
9. Internet of Things Ransomware
As it stands, the ransomware of Internet of Things devices is not a huge news topic. Right now, it doesn’t appear to be very damaging because critical devices have yet to fall prey to it.
Still, information security professionals are not convinced that it’s harmless. They warn that this ransomware may create a network of infected devices. In the future, it’s not unlikely that this ransomware will reach an important network like a power grid.
10. GDPR Noncompliance
The European Union’s General Data Protection Regulation directive dictates how much monitoring a company can do. This will impact an organization’s ability to monitor threats within their systems. Companies will have to decide if the cost of noncompliance outweighs the risk of data breach.
The transparency required by this directive may also give hackers inside information that can help them with a future attack.
Preventing Information Security Threats
Every business owner dreads the thought of a data breach. Unfortunately, in today’s world of endless information security threats, they are virtually unavoidable.
Despite the inevitability of a data breach, there are still preventative measures every company can take. Being aware of the items on this list help data security teams identify risks. This allows them to adequately arm themselves against them.
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