3 Cyber Security Trends for 2019
Last year, 2018, saw a general rise in the number of cyber security issues that affected businesses. The Spectre and Meltdown attacks exposed computer chip vulnerabilities, and VPNFilter malware exposed dangers to routers and network-attached storage products.
Plenty of the largest brands suffered costly data breaches, including Amazon and Facebook. But brands and businesses weren’t the only ones affected. There have been concerns around the cyber tampering of elections both here and in the US. This, along with the new international security standards, such as the General Data Protection Regulation, mean that businesses are beginning to make cybersecurity a genuine priority.
2019 looks set to follow the trend. The general predictions suggest that there will continue to be cyber attacks, some based on continuing themes, others introducing new elements altogether. Here are three key cybersecurity predictions that we believe will have a profound influence on businesses in 2019.
Cybercriminals are pretty savvy about how they try and extract money from the unsuspecting. One of the easiest routes into a high-profile target is through the network of suppliers and contractors.
The software supply chain is becoming an increasingly common target of attackers. Cyber criminals are implanting malware into otherwise legitimate software packages. This is sometimes occurring during production at the software vendor or it can come when a third-party supplier re-sells the software.
The typical attack involves the cyber criminal replacing a legitimate software update with a malicious one. This is then distributed quickly to targets. The end user who receives the software update will automatically have infected their computer, giving the attacker access to their data.
These types of attacks are increasing and are becoming more sophisticated. It also seems likely that attackers may attempt to infect the hardware supply chain in the future. For example, an attacker could alter a chip or add source code to the firmware of a component before it is shipped out to millions of computers. A threat like that would very difficult to remove.
It is expected that attackers will continue to search for new and more sophisticated ways to infiltrate the supply chain of businesses in the coming year, meaning that all organisations need to remain as vigilant as possible.
If it isn’t already a boardroom matter, it definitely should be! But it is expected that in 2019, cybersecurity concerns will be a major topic for businesses and boardrooms in every major enterprise
The major data breaches we mentioned earlier struck many leading firms across all industries. From CEO downwards, there is a realisation that any company of any size is at risk. Additionally, partners, shareholders and customers are more likely to hold corporate leaders responsible for any loss of their data in an attack.
There is also a growing realisation that the fall out from of an attack goes beyond losing data or money. Damages from a breach will affect the bottom line, stock price, and brand status. Meaning that the responsibility for cybersecurity failures now goes beyond IT department and directly to the door of the CEO.
Our prediction is that many more board discussions this year will revolve around mitigating cyber risks and improving the organisation’s cyber security.
Cyber criminals don’t care who they attack. Whether you’re a multinational conglomerate, or a small local business, they are equal-opportunity attackers.
Whilst the big breaches for large corporations and government departments always hit the headlines, businesses of every size are under attack, especially those who store or manage sensitive data.
In 2019, smaller firms will have to enlist the same cybersecurity approach that large enterprises use. This means working to build robust security operations, to monitor and detect threats and respond when necessary.
It’s expected that larger organisations will begin to monitor the businesses they work with and their suppliers, to make sure they meet certain cybersecurity standards. This means that to win business from larger organisations, small firms must start their security planning as early as possible.
Today’s hackers are developing ever more sophisticated attacks. The sooner your company can recognise the threats you face, the better you are able to protect yourself.
For all our tips and help in creating a robust security plan for your business, talk to us today.