As we recover from the worst pandemic in a century, what does the New Year has in store for business security? There will be huge impacts of work from home in every industry. In this article, we will discuss the prevalent threats announced by the Information Security Forum (ISF). Moving on to security predictions for 2021, here is an annual roundup of Dallas security companies key threats;
1. Cybercrime: Malware, ID Theft, Ransomware, and Network Attacks
We all have seen an immense increase in cybercrime targeting the COVID-19 as an opportunity. Not only it is restricted to ransomware attacks on the hospitals, but this also has been targeting remote workers who are accessing corporate systems. Fraudulent charities, false loans, extortion along a raise in traditional phishing and malware are all escalating. Therefore, this changing threat landscape requires security risk management to pay close attention to the circumstances that influence the level of security protection.
2. Insider Threats
The threat from malicious insider activity is an increasing concern and will continue to be so in 2021. According to our security predictions for the new year, many institutions will remain challenged to detect internal heinous acts. Often, it is due to limited access controls and the inability to detect unusual activity if anyone is already inside the network. In this, a malicious insider utilizes credentials to gain access to a given organization’s critical assets. Hence, it is one of the greatest drivers of security threats that businesses face.
3. The Digital Generation Becomes the Scammer’s Dream
Next-generation of employees will enter the workplace, introducing new information security concerns to businesses. Their attitudes towards sharing information will fall short of requirements for good business security. Accordingly, reckless attitudes of sharing information online will set new norms for the security industry. However, attackers will use sophisticated social engineering techniques to manipulate employees into giving up their critical information assets.
4. Edge Computing Pushes Security to the Brink
Edge computing will be an appealing architectural choice for businesses. Therefore, it will also become a key target for attackers. As a result, it will create numerous points of failure. Also, it will lose many benefits of traditional security solutions. Businesses will lose visibility, security, and analysis capabilities linked with cloud service providers. Attackers will exploit blind spots, targeting devices on the periphery of the network environment, therefore, causing a significant downtime.
5. Rushed Digital Transformations Destroy Trust
Businesses will undertake evermore complex digital transformations. They will deploy AI, blockchain, or robotics – expecting them to seamlessly integrate with underlying systems. However, those who get it wrong will have their data compromised. Consumers and dependent supply chains will lose trust in corporations that do not integrate systems and services, effectively. Thus, new vulnerabilities and attack vectors will be introduced.
“If COVID-19 has taught us anything, it is that there is a very real need to anticipate threats, to develop scenarios for handling them, and to test our response before they destroy our businesses,” said Steve Durbin, Managing Director, ISF.
Attackers will continue to target and exploit organizations that are unprepared in the new variant of threat in the new year. 2021 will be volatile, but targets will be difficult to predict. Dallas security companies need to see security as a strategic business issue. These security predictions can help you detect and deter threats in them.
How to Mitigate Security Threats?
Following are the considerations to mitigate security risks and proactively protect the businesses;
- Resilience. Identify and reprioritize critical assets. Continually improve breach response capabilities. It is the number one business priority.
- Risk assessment, governance, and compliance. A sound security framework is a prime key. Consequently, it is used to identify changes in regulations that might influence security risk assessments.
- Technology and services. Keep technology risk within acceptable limits. Stress test data centers, cloud providers, networks, and back-up facilities against enforced digital transformation.
- Supply chain and integrity. Supply chain risks are all-pervasive. Communicate regularly with key suppliers, review potential exposure to new threats. Besides, implement alternative operating procedures for those that no longer meet contractual expectations.
- Workforce. The world of work has changed. Thus, pay special attention to cyber fatigue and mental health along with close monitoring of insider threat mitigations.
What Can We Do?
There is a dire need to look into the drivers of the security industry’s near future. Therefore, As security breaches escalate, new technologies emerge, and the geopolitical landscape becomes more complex, business leaders need to rethink security. To avoid significant damage, private security companies in Dallas need to frame a proper, strategic response that can withstand change and disruption.
In short, security threats are not new, and they are not going away. They are just changing forms. Agile Security can help you in predicting security threats and solving security risks. Feel free to contact us.