8 Cyber Security Trends to Keep Your Eyes On

Trends come and trends go, the perm had its time, and bangs did too while the mullet is enjoying somewhat of a renaissance. You may not be one to buy too much into what’s trendy or not, but there are some trends that are definitely worth following, such as cyber security.

Your business is potentially under attack from a wide range of IT security threats, they’re many and varied, and their impacts can be felt across your entire organisation. We thought it would be good to outline eight cyber security trends that each and every NZ business should be keeping their eyes on right now.

1. Ransomware; still a problem

Ransomware is malicious software that seizes control of a computer or dataset in exchange for financial gain. Once the ransom is paid, control of the computer or dataset is returned to the owner. According to recent study by Verizon, 92 percent of ransomware is delivered via email.¹ To stay ahead of the threat, organisations should implement user training and maintain up-to-date antivirus software and endpoint devices.

2. Phishing is becoming more devious²

Phishing scams appear on face-value as legitimate email communications from a trusted source, typically a bank, telco, or government agency. However, it’s merely a hoax to coax the user into clicking on a link that contains some form of malware. These scams are very much focused on extracting sensitive and personal information like passwords and credit card details. In the past they have been quite simple to identify, however over time cybercriminals have become increasingly adept at creating legitimate looking emails. Tools like HP Sure Click are a good means of enabling an extra layer of security to minimise the risk of phishing.

3. SMB’s embrace artificial intelligence (AI)

AI uses machine learning algorithms to develop educated recommendations that allow you to make immediate and intelligent decisions.³ With the number of daily threats climbing into the 10s of thousands and beyond depending on the organisation, expect to see machine learning only grow as a means of thwarting cyber security threats.

4. Outsourcing security services

Time and resource poor small and medium sized businesses (SMBs) are turning to as-a-service models as a means of developing and maintaining their security posture. Through adopting models like HP Device-as-a-Service (DaaS), businesses can combine, hardware, analytics, proactive management and services for every stage of the device lifecycle. Endpoints remain secure and internal teams have more time to focus on what matters most.

5. Cyber security insurance is becoming a thing

The numbers are there for all to see; as many as 60 percent of SMBs that suffer a data breach or security incident go out of business within 6 months.⁴ The landscape is constantly changing with new threats emerging by the hour, and as such, it’s time for organisations to start considering cybersecurity insurance. The options are a plenty.

6. Employee security awareness and training

According to a recent report by the Ponemon Institute, of the SMBs that suffered a data breach, 54 percent were a result of negligent employee practises – an increase of 48 percent from the previous year.⁵ Employees must have the skillset to acknowledge a potentially malicious link or email, as well the understanding to follow best-practice password management protocols.

7. Security begins at the endpoint

Security must be a holistic approach across the organisation, from top to bottom. In the digital era employees work from anywhere, at any time, and on any device. This poses an endpoint protection issue, because they could be accessing critical information on unsecure networks. As a potential entry point, endpoint security is paramount, from laptops, to mobile devices, right through to printers. There are ways of mitigating the risk, for example; HP’s Sure Suite of hardware-enforced security features work to protect your endpoint from a multitude of threats.⁶

8. Multi-factor authentication and password management

Correct password management and multi-factor authentication (MFA) may be one of the most underutilised elements of cybersecurity. Passwords are a critical component to any cybersecurity strategy, however, in the recent Ponemon Institute report, 59 percent of respondents advised they had zero visibility into employees’ password practices.⁷ To reduce risk, password management systems can be implemented which generate random passwords with zero double-ups, while MFA requires the use of two or more independent credentials to prove a user’s identity.

At CodeBlue, our aim is to help customers avoid the damage an IT security breach can cause. Reputational damage, loss of business, regulatory fines and safety concerns are all potential consequences of an information security breach.

The focus at CodeBlue is to minimise this risk at every turn to ensure your business does not suffer these serious consequences.

If you want your organisation to be protected from the widest number of IT security threats, contact CodeBlue today to discuss our Cyber Security Services.

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