Evaluating Information Security Safeguards in the Ransomware Age

For today’s businesses, data is as valuable as cash or physical inventory. This mentality has thrust information security safeguards into the spotlight as the world continues to grasp with the never-ending battle against cyberattacks. In fact, 67% of Chief Information Security Officers believe their companies will fall victim to an attack or breach this year.

Ransomware is the posterchild for information security gone wrong, and rightfully so; the global cost of ransomware will hit $11.5 billion per year by next year with a new ransomware attack hitting a business every 14 seconds. However, ransomware is only representative of a new era of increased and varying attacks requiring the attention and resources of every company.

Points of Access

Any breach or transfer of information means hackers had a way in and data had a way out. It’s common sense, but it’s surprising how few companies are able to locate the point of access during or after an attack. These can include IoT devices, employee cell phones, the network, emails, WiFi, the cloud, websites, employee portals, out of date programs, weak passwords, and much more. It requires dedicated talent to leave no stone unturned, and cybersecurity talent is arguably the hardest kind of technologist to find.

Even inside 96 government agencies that were surveyed, 71 were found to be relying on cybersecurity programs deemed “at risk or high risk.” Part of this is due to human error with rapidly evolving phishing attacks that don’t require the downloading of a file and are harder to spot as fraudulent. CISOs believe there is a 65% chance they will experience credential theft due to an employee falling for a phishing scam. With so many different points of access and given the fact that even government agencies cannot keep up, it’s clear any business faces a challenge safeguarding their information in 2018.

It’s More Than Ransomware

Ransomware is ripe for headlines because it sounds like a spy movie: data is taken hostage, a massive sum is requested, and vital information is at risk of being destroyed. Despite the billions lost to high-stakes ransomware attacks, the cost of cybercrime damage as a whole will hit six trillion dollars by 2021. That is the staggering bigger picture of what’s at stake.

Data doesn’t have to be held hostage for cybercriminals to profit from it. Look at the epidemic of synthetic identity theft and the massive Equifax breach of 2017. Other notable attacks include Meltdown, Spectre, Dyn DDoS, and countless others. Some of these attacks tricked security measures into working against themselves, others used vulnerabilities between applications and memory storage, and more capitalized on unpatched operating systems.

The frequency of these events is increasing so quickly that zero-day attacks, or cyberattacks exploiting an unresolved vulnerability, are expected to happen once per day by 2021. For hackers, the window of time from a vulnerability opening until the time it is caught and closed is what makes their attacks possible. Businesses are responsible for not just stopping those vulnerabilities from appearing in the first place, but for also detecting and closing them as quickly as possible. That can only be done with the right technologists in place.

Prevention Requires Talent

Information security measures, policies, and strategies are underdeveloped in many companies, and the reason is the lack of available cybersecurity talent. After all, plans for the most innovative safeguards can only become a reality with the right team to implement them. It’s estimated within four years there will be 265,000 more data security roles than qualified technologists, making it ever harder to be proactive in preventing attacks.

Taking a deeper look at this drastic skills shortage, 70% of CISOs cite “incompetent in-house staff” as their number one concern and 65% say this is the top reason they are likely to encounter a data breach. In short, cybersecurity talent is a red-hot tech skill for the foreseeable future. That drastically affects salaries for high-profile roles such as Information Security Analyst which can further complicate the landscape of hiring in cybersecurity.

Evaluating Information Security Safeguards

Even the smallest data breach that is responded to promptly and appropriately can be a PR nightmare for any company. People are scrutinizing the trustworthiness of those they do business with more than ever and expect their information to be secured. It’s imperative for organizations to invest in the technologists who can successfully implement information security safeguards and prevent ransomware and all other forms of attack. 2018 has ushered in a new age; it’s time to prepare accordingly.

Need information security talent that can safeguard your business? We’ve got you covered. Reach out to us today to secure your tomorrow.

 

Related Articles

The 2019 Technology Salary Guide You’ve Been Looking For

The Biggest Tech Skills for 2018

5 Reasons Your Job Isn’t Getting Filled

Grow Your Own Talent: 3 Ways to Develop Employees

Related

Archived Posts

10 Ways to Win the Fight for Happy at Work

Whether it is just the daily grind or a career that is less than your passion, workplace happiness doesn’t always flow naturally. The true masters of the workplace can find happiness amongst it all. So here are 10 easy tips for staying happy at work.

Career Advice, Hiring Advice, Insights

Search Without Being Found

It is common to be employed while hunting for a new job, especially if you are looking to advance your career. Here are several strategies that you can use to avoid alerting your boss or other people in the department:

Career Advice, Insights

An Effective Elevator Speech Opens the Doors to New Career Opportunities

When you are looking for a new job, networking is a critical step to help you connect with other people in the industry. You’ve probably heard the saying that you only get a single opportunity to make a good first impression, and networking with an effective elevator speech can make-or-break your job hunting efforts.

Career Advice, Insights

Your Resume has these 4 Must-Haves, Right?

Modern technology has made it easier to apply to many jobs without much effort, which means that employers and recruiters are inundated with resumes when a job opening is posted. If you want the job, then you need to make sure that your resume outshines the rest.

Career Advice, Insights

Quitting Your Job? 5 Considerations Before Deciding

LinkedIn Twitter Facebook Google+ Are you frustrated with your job and you are ready to...

Career Advice

The 5 Questions To Ask In A Job Interview

When you ask questions at the close of your job interview you show the interviewer you were listening. You convey your interest in the company and showcase what a good fit to the team you would be. Your questions garner insight into how you would fit into a specific role and where you would devote your energy. Questions are critical to the success of your interview.

Insights

You Said What? 7 Things to Never Say During a Job Interview

One sentence. That’s all it takes to derail your chances at the dream job you’ve been pining after for months – maybe even years. Employers focus on why they should hire you, but they’re also looking for reasons not to hire you. Read on to find out seven things you need to keep in the vault while interviewing.

Career Advice

Send Resume
Share This