Businesses must continue to be vigilant about cybersecurity in 2019, according to a recent report compiled by the Information Security Forum (ISF), an independent non-profit association of leading organizations around the world. The organization releases its ISF Threat Horizon series of reports each year aimed at senior business executives and information security professionals.
The recent report predicts the new year will bring “a hyper-connected world where the pace and scale of change, particularly in terms of technology, will have accelerated substantially.”
Among the top threats identified:
The Increased Sophistication of Cybercrime and Ransomware
Rough estimates show a more than $5 billion loss globally in 2017 from ransomware attacks. The report suggests companies will be challenged to keep up with the sophisticated and rapidly changing tactics involved in cybercrime. Smart and personal devices will be the primary targets to spread malware attacks.
The Impact of Legislation
The lack of updated information about cybercrime at both local and national levels of government will impact regulations in this area, according to the report. The pace of policy and the need to regulate nationally instead of cross-border collaboration will impact companies. The report cites cloud implementations and understanding the location of cloud data will be a factor.
Smart Devices Challenge Data Integrity
The increasing use of smart devices – insecure by design – will make companies more vulnerable for cyberattacks. The report also says lack of transparency in the IoT ecosystem will “allow organizations to use personal data in ways customers did not intend.”
The Myth of Supply Chain Assurance
The days of securing information in your supply chain are gone. It is recommended companies now manage key data and be aware of how its shared across multiple platforms, regardless of supply chain provider. Continuing to focus information security on traditional approaches, such as self-certified audit and assurance, will lead to larger challenges in the future.