The observers of data security and cyber-threats have predicted that cybercrime costs will grow by 15 percent globally in the next five years. The estimated cost for these cyber-security breaches is likely to reach $10.5 trillion annually in 2025.
As per the data available on Statista, 155.8 million individuals were affected by data exposures in the US in 2020. The data breaches, which are the result of planned cyber-attacks, have skyrocketed amidst the pandemic. From private companies to governments, hackers do not spare anyone.
One such campaign which grabbed headlines was the SolarWinds hack, wherein hackers got access to thousands of companies and government offices that used software made by SolarWinds Corp. With such massive data security breaches, it is hard to trace the hackers, but it is ascertained that they are either financially motivated or with the aim of espionage. In such a rapidly changing digital landscape, hackers quickly adjust and take advantage of the same.
Cyber threats like these not only pose a threat to the data or put the companies at risk of ransoms, but the organization’s reputation is also on the line concerning consumer trust. Thus, the cost of such attacks is high and not just in monetary terms. Against such a backdrop, cyber-security professionals need to know how to protect their organization’s data from such attacks. Here’s how to do so:
It’s a two-level process. First and foremost, to ensure safeguards against data security and cyber threats, the companies need to press the software suppliers to ensure deep safety as their products are put to use.
Another critical undertaking would be to remain open to explore new methods to detect malware. Since hackers are coming up with innovative ways to attack, there is no other way to tackle it but upgrade the detection methods. On the part of DevOps, the focus needs to be placed on the products’ security aspect. The security experts need to be a part of the design phase and build software or app that is reliable. Moreover, considering the new risks, there is a need that DevOps work in collaboration with DevSecOps to address the security threats.
Also, with most of the technology shifting to the cloud infrastructures, the traditional perimeter model may not serve the purpose of providing security with, say, local firewalls. The wedge between modern cloud-native apps and legal security is widening. Therefore, security can no longer be an afterthought in software development. Apart from the companies’ safeguards, users need to be aware of their responsibilities and course of action against prevailing cyber threats. On a personal level, one must be vigilant about phishing attacks or deep-fake emails employees receive daily and some falling prey to it.
So, from encoding and encrypting all the sensitive data and confidential information to keeping up with the security patches, these steps can go a long way in ensuring security. It is always the tiny openings that expose crucial data to invaders. This is where solid firewalls and threat detection programs play a significant role.
All in all, in the ever-changing technology scenario, there is no way to put an end to cybersecurity breaches, but there is a way to stay ahead of the hackers. So, this three-way approach offers a well-rounded framework against breaches and cyber threats.
Authored by Mike Hendrickson, Vice President – Tech & Dev Products, Skillsoft