Businesses are struggling to develop cyber resilience to fend off attacks as they seek to create flawless operations and to scale systems. Efficient cybersecurity in an advancing digital economy is no easy goal, as many factors are at play, including third-party risks and increased attack surface, as a result of extensive interest in IoT deployments. This is why corporates and governments need to work together to set up priorities to help enable digital transformation and build trust through proper safeguards on consumer data privacy.
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While we’ve just passed the halfway mark of 2018, data breaches and new threats have been plaguing businesses and organizations, exposing the data of millions of users worldwide. Apart from known and increasingly sophisticated threats, such as ransomware, the hype around cryptocurrency has led to the emergence of cryptojackers, a new problem organizations need to deal with.
The topic of cybersecurity is rapidly moving up the agenda of CIOs.
It’s common knowledge that cyberattacks will escalate, so upper management has to develop an understanding of the threat landscape, the different types of attacks and what it all involves. Right now, the Trump administration is working on an executive order to clearly establish the duties of agency chief information officers.
Chances that ransomware will go away any time soon are slim, so security experts can’t emphasize enough the importance for enterprises to seriously invest in cybersecurity and focus on developing risk mitigation strategies to avoid being caught off-guard. For some reason, the number of businesses ready to pay ransom to get their data back is increasing, opening up endless opportunities for hackers working on complex malicious software to further compromise corporate networks.
Chief Information Security Officers (CISOs) have historically chafed at budget constraints, with some pushing the envelope and bringing the case for stronger cyber defenses to the board room. New research indicates that executive decision-makers want InfoSec costs linked to business value and return on investment (ROI), and it’s CISOs who can deliver a compelling narrative to their peers that typically achieve this goal.
One of the hottest topics in the business world these days is the General Data Protection Regulation (GDPR), the European Union’s endeavor to create a unified framework that governs how data collectors and processors safeguard the privacy of their users and build walls that cybercriminals can’t penetrate.
Mobility is central to today’s business environment, enabling workers to bring their own devices and connect from remote locations to the company network. However, this practice opens the door to hackers, and CIOs in the United States and Europe are well aware of this.
To anyone who has been paying attention, this isn’t as much of a surprise, as it is a confirmation of the ongoing tenuous condition of enterprise cybersecurity but a just-released survey from specialty insurer Hiscox shows that roughly three-quarters of the 4,100 organizations surveyed face significant shortcomings when it comes to cybersecurity.
Keeping senior leadership abreast of security strengths and vulnerabilities has become a top priority, according to financial sector Chief Information Security Officers (CISOs). And direct communication with the CEO has become imperative, as strong cyber defenses require increasingly rapid decision-making.
Government CIOs have a full agenda for 2018, including top investments in cloud services (19%), cybersecurity (17%) and big data analytics (16%), according to Gartner’s 2018 CIO Agenda Survey. The predictions are based on interviews with 3,160 CIOs from 98 countries, including 461 who work in government institutions.
One of the biggest consumer credit reporting agencies in the United States is learning a harsh lesson. A massive breach that affected personal information of 143 million U.S. consumers has led to the forced retirement of Equifax’s chief information officer and chief security officer, a 13 percent drop in market valuation, several class action lawsuits and a deterioration in public trust.