Gartner has revealed its Top Security & Risk Management Trends for 2018. These trends are meant to create a high-level roadmap for the security industry. These trends begin with a focus on closing gaps in current security tech stacks. Other top trends include the need to secure digital supply chains and address identity access management.
Data privacy
Data privacy has become a high priority in security and risk management, and many businesses are taking steps to protect their customers’ privacy. In addition to new government regulations, companies are examining their data collection processes and retaining only the data they need. This trend is expected to continue into 2021. However, some experts argue that companies already understand the risks and liabilities associated with data privacy and have lobbied against new laws.
The importance of data privacy continues to increase, especially because of the growing consumer awareness of data privacy. New regulations such as the European General Data Protection Regulation (GDPR) and the California Consumer Protection Act (CCPA) have heightened consumer awareness. Organizations must protect data, and those that do not will face steep fines. Under the GDPR, organizations can be fined up to 4% of global revenue if they fail to meet the regulations.
In 2018, many states began regulating consumer data privacy. In California, for example, the Attorney General updated the rules under the California Consumer Privacy Act (CCPA) in 2018, allowing consumers to opt out of the sale of their personal information. Other states have also taken steps to protect their consumers’ information.
Data privacy is the process of keeping sensitive information private. This includes limiting who has access to it. This is important because it limits the access of unauthorized individuals. The opposite is also true – data protection can limit access while leaving sensitive data vulnerable.
Identity infrastructure
Identity infrastructure has a key role to play in security and risk management. When used properly, it helps to establish a single view of the identity lifecycle. This helps to reduce identity related risks and increases adaptability to new challenges. Identity management systems also help to reduce the need for human intervention.
Identity infrastructure is becoming more important as organizations move to the cloud and rely on third parties for their operational and productivity needs. According to a recent study, 83% of companies will experience an increase in the number of identities they manage in 2021. Most of these identities are not human; they include bots, IoT devices, and service accounts. The rise of non-human identities has been fueled by the increasing number of networked devices, with the number expected to triple by 2023.
Despite this, identity-based breaches are still the most common type of data breaches. According to the survey, the highest priority for preventing identity-based breaches is MFA (35% of respondents), followed by continuous discovery of all user access rights (28%) and revoked access after detection of a high-risk event (20%).
The growth of cloud services and the proliferation of identities poses a significant threat to organizations. Most organizations operate on a hybrid cloud and on-premise model, creating a proliferation of privileged identities, entitlements, and permissions. Additionally, these cloud environments present a greater opportunity for security breaches, as organizations can change their identity infrastructure more easily.
AI vs machine learning
As organizations explore the benefits of AI and machine learning, they must carefully consider the security implications. Companies must ensure that their data is protected, especially from third-party access, and that they have the appropriate systems in place to handle data security issues. But the benefits of AI and machine learning aren’t free of risks, and they can pose serious problems if not properly implemented.
For example, AI and machine learning systems are often designed to analyze vast sets of data in order to learn and make predictions. But if an adversary manipulates the dataset, the system may be deceived and produce false predictions. As a result, cybersecurity experts are concerned about the security risks associated with AI and machine learning systems.
Machine learning is a subset of AI. It enables computers to learn from their experience and improve their performance at specific tasks. Machines learn by analyzing data and using statistical methods to improve their performance. As a result, they can identify patterns and predict future events.
For example, AI can detect cyber attacks in real-time. This helps organizations remediate risks and reduce costs. Moreover, it can help improve the signal-to-noise ratio of security controls, which reduces the likelihood of human error and bias.
IoT devices
As the use of IoT devices expands, security issues must be addressed. Cybersecurity experts need expertise in infrastructure protection, data protection, risk analysis and mitigation, cloud-based security and compliance. A master’s degree in cybersecurity can help professionals get the expertise needed. “The IoT arena is a highly vulnerable area, and the security and risk management of these devices is of high importance,” says Stuart Rauch, president of ContentBox Marketing Inc. and a former executive at Oracle and NetSuite.
The Internet of Things is a fast-paced industry, and manufacturers often rush to release new products. They may also abandon software updates to focus on newer generations of products. This can leave devices vulnerable to malware and hacker attacks. This is a major security concern, as these devices collect and process personal data. In addition to personal privacy issues, IoT devices can cause damage to industrial systems.
Security & risk management trends for Iot devices may include integrating a security specialist with programming developers to address IoT security issues. Also, consumers must be aware of the risks associated with these devices and be empowered to take action to protect their personal information. Consumers can also demand device manufacturers to create secure devices. If a device does not meet security standards, they may decide to stop using it.
Risk assessment isn’t an easy task. New IoT devices and networks are constantly evolving, and it’s hard to predict and prevent all of them. Therefore, organizations must adopt a disciplined risk management approach to reduce the likelihood of a cyberattack. A tool such as Tripwire can help organizations assess these risks and implement the right security measures.
Ransomware attacks
Ransomware attacks are one of the most dangerous threats for IT organizations. While these infections are difficult to prevent, there are many things you can do to mitigate the risk. The first step is to protect your network. Make sure your operating system is up to date and all software is updated. Another step is to educate your users about the dangers of clicking on suspicious emails or links. A good security solution will also include patching systems regularly.
Ransomware attacks are evolving into more sophisticated forms of malware. They will use increasingly sophisticated tools to extort victims, affecting organizations around the world. These attacks will likely continue through the year 2022, with different levels of severity, TTPs, and tactics. Depending on your company’s security and risk management strategy, these attacks can impact your company’s insurance coverage, compliance, and fiduciary responsibilities.
With the advent of cryptocurrencies, ransomware attackers are getting more creative. They are now demanding payments that are difficult to trace. For example, the Fusob ransomware demands payment in the form of iTunes gift cards. The popularity of digital currencies like Bitcoin, Ethereum, Litecoin, and ripple has helped escalate ransomware attacks.
In order to prevent cyber-attacks, organizations need to understand the intricacies of their organization and identify its critical resources. They must also have robust event detection and recovery systems to reduce the impact of a ransomware attack.
Supply chain risks
The supply chain is among the most vulnerable points of a company’s security architecture. A supply chain can involve hundreds or thousands of suppliers. As a result, organizations have to consider how to secure the entire chain. This includes categorization by risk category, and addressing the risk management process in a tiered manner.
The biggest supply chain risk today is cyber attacks. These attacks can disrupt entire supply chain networks and force freight rates to skyrocket. Cyber attacks are also a common tool used by terrorists. In order to minimize the risk of cyber attacks, companies should ensure their supply chain system vendors follow stringent cybersecurity practices. These measures should include using AES 256 encryption and restricting access to data only to authorized personnel. Physical security measures, penetration testing, and a strong IT team can also help mitigate the risk of cyber attacks.
In addition, supply chain risks are likely to continue to grow in complexity as the world becomes more interconnected. Companies should assess their products and evaluate their supply chains to avoid future risks and protect the environment. Listed below are some of the top security and risk management trends in supply chain security.
The complexity of supply chains and the number of potential threats can be daunting. Many organizations are unaware of the threats they face or how to mitigate them. To prevent disruptions, organizations must follow the principles of risk management and cyber defense in depth. They must follow government protocols and consider physical and digital threats.
