While organizations have started giving utmost importance to cyber security and have started allotting handsome budget for saving their digital assets, cyber crooks are getting smarter and giving birth to more sophisticated attack techniques. Today, suspicious insiders are giving more nightmare to the IT security officers rather than outsiders. According to the latest research, organizations cough up to $8 million annually as a price paid for the damages done by malicious insiders.
With Facebook admitting recently that the data available online of its 2 billion users are mostly vulnerable, recent reports affirmed that a quarter of a billion accounts were compromised. Later on, Facebook CEO Mark Zuckerberg made history by testifying before the US Congress about the data leakage. People realizing the importance of data safety reaches a different level thereafter.
Enterprises are allotting more budgets on emerging technologies that are proactive in detecting current and emerging threats. For 2018-19, the CISOs, CTOs and CIOs are eyeing on tools that use machine learning algorithms to secure companies’ digital assets, enterprise network and privilege accounts.
The expenditure on cyber security has seen a significant rise in the recent past especially after Facebook data breach, Uber data theft or even Bangladesh bank heist incidents. The digital threats are omnipresent, where the perpetrators siphon off digital money and crucial data in a day or may be for months. Worried CIOs are imploring the management to let them invest in cutting-edge technologies that can protect the privileged accounts and thwart threats.
Proactive protection is the safest way out
Defying the enemy within
As the wave of digitization sweeps across the nation, it is terribly crucial for the organizations, irrespective of large or small, to take adequate security measures for protecting their huge amount of data generated every day from various sources. The CISOs, CTOs and CSOs are ceaselessly on their toes to curb the chances of any hack or data breach incident that might push them towards big irrevocable losses. This scenario of insider threats is considered to be one of the most sinister reasons for digital disaster.
Identification of Insider Threats
The implications of insider threats largely go to the administrators and other privileged users, who are commonly
Who would have thought about a decade ago that digital revolution could completely transform the way organizations conduct routine operations?
From large retailers analyzing and predicting customers’ purchasing decisions to supply chain firms adopting ‘smart’ technologies to ensure quality controls, disruptive technologies such as big data analytics and the IOTs have enabled firms to capture and effectively use the vital statistics in a real-time.
Sometimes I get completely dumbfounded at the pace of technological innovation. Rummage into some of the latest stories in the world of technology, odds are high that ongoing inventions would leave you stunned. And being a tech-freak, I must confess, nothing else in life gives me an adrenaline rush than bright evolving ideas, particularly in the field of information technology.
Indeed, the other day, I got startled to find how one scientist from the University of Rochester in New York is scripting an algorithm, which would help in decoding the human gestures!
We live now in a knowledge-driven world where advanced technologies like ‘big data’ analytics spur innovation and boost efficiency. Thanks to it, companies are now able to collect and analyze a large set of data, allowing them to study the industry’s trends and patterns, in a real-time.
Increasing digitization of businesses, however, has also given rise to cybercrimes. Every year, businesses witness cybercrime related losses that run into billions of dollars. Our information systems today are constantly under risks. Ransomware, hacking from rogue elements, and denial-of-service assaults are very rampant.
Disruptive technologies such as Internet of Things (IOTs) and cloud computing have created enormous opportunities for global organizations. They have changed the way global corporations conduct business. According to the Australian government, disruptive technologies could generate up to $625 billion through economic activities every year by 2030 in the Asia-Pacific (APAC) region alone.
While disruptive technologies create new opportunities they also make IT assets vulnerable. Indeed, with tons of data stored in cloud, organizations risk data breach from malicious outsiders.
The only thing predictable in any business is unforeseen risk. Risks come in many types. Manufacturing companies stay exposed to supply chain risks, while financial institutions are vulnerable to regulatory changes and wide gyrations in markets. Besides, risks emanating from social and political upheavals, terror attacks, and natural disasters also keep managements on tenterhooks.
That’s why, one of the key roles of top management is to foresee risk and asses how it will impact their organization. The idea is to create a robust organization that can withstand external shocks.
We have been touring across the world since the beginning of the year, participating in several IT security events. While our main goal is to educate organizations–amid rising cybercrime– to reinforce their information systems by adapting to our risk-management solutions, we are also meeting with Chief Information officers (CIOs), Chief Information Security Officers (CISOs), and audit and compliance officers.
One-to-one meetings help us in understanding IT security needs. As an IT security provider, however, we must tell you that it is very heartening to find that organizations across all industries, have shown increased awareness towards cyber-security.