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October is National Cybersecurity Awareness Month, providing the perfect opportunity for organizations to review their security policies, evaluate alternative options and implement any changes if necessary. The Ponemon Institute’s 2018 Cost of a Data Breach Study shows that the average cost of a data breach incident was approximately $3.86 million, a 6.22% increase from the previous year and a number expected to grow in the future exponentially. Facebook’s recent data breach cost the company a whopping $1.6 billion in regulatory fines, a figure that does yet not include any other financial and reputational losses.
We must not ignore these numbers particularly now as threat actors are becoming smarter at finding ways to penetrate an organization’s secured environment and extract intellectual properties and critical commercial information for financial gains. Organizations need to prioritize and proactively ensure they have the right resources and knowledge to secure their and their customer’s data.
Cybersecurity in the digital age Digital transformation is profoundly impacting technology. We are in an era where devices, services, individuals and entities all interconnect via complex networks in the cloud. The future holds endless possibilities but also presents many challenges, particularly in the cybersecurity and data loss prevention domain. Emerging technologies and concepts such as cloud migration, artificial intelligence, machine learning, microservices, and big data are charting new courses and shaping modern enterprise architecture. TUV OpenSky identified the following as the six most critical trends in cybersecurity for 2018.
Global regulation and how it is driving the costs of privacy and data protection. Internet of Thing (IoT) and how it is the multi-facet threshold between privacy, safety, cybersecurity and data. Operational technology emerges as a frontline for cyber attacks. The shift from reactive to proactive reconnaissance threat and vulnerability detection and response. The rise of IT domain certifications and their importance for professionals. Artificial intelligence (AI) and the way automation tools and services are becoming more prevalent in cyber defense strategies.