Cyber Security in 2021
Cybersecurity, especially in the past two years, has been a steadily growing industry due to the fast-accelerating digitalisation that is happening around us. The sped-up event is mainly determined by the multiple changes every business has had to make during the Pandemic in order to maintain both their continuity, as well as the mental and physical health of their employees. The digitization that was happening before the Pandemic has seen an exponential development in just a couple of months, acting just as a preview of the future. Many companies have moved to remote working during the Pandemic in order to survive and continue their business; considering the unpredictable future as well as the desire of the employees to work from home at least for some time (a hybrid work model), there is a necessity to make sure both your employees and your business are safe from cyber attacks on all the platforms that provide the information sharing and connection between everybody in the company. With the current crisis there has been an increase in cybercrime under the form of breaches, phishing and access to important credential information. As there are many shifts happening from the way businesses were dealing with their security in the past, with processes focusing more on the ease of collaboration and information sharing, there is a need for taking a greater responsibility to assure the extra safety needed.
Keep reading to find out why cyber security is changing as much as it is
According to Forbes, 55% of businesses are planning to increase their cybersecurity budgets in 2021, even if in many cases their revenues will be considerably lower. Their main focus at this point is to implement decisions that add value and are efficient to their businesses. For the next three years the main focus is predicted to be upon Cloud workload protection platform, cloud security management and passwordless authentication. In terms of small and medium business Forbes suggests that there will be a small increase in the spending attributed towards network and endpoint security as well as identity and access management. Based on the necessary investments in digital services made in the past year, businesses need to find new methods that will provide both efficient ways of working as well as new business models that will allow investing in innovation. In order to get a return on the investment, companies need to adhere their goals to a structure that adapts to an unforeseen future in a very flexible manner.
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One of the main critical vulnerabilities that create a higher possibility for a company to be exploited by hackers is having outdated software and systems; as more and more companies are migrating to cloud services, there is a need to make sure that the exposure to cyber-attacks is minimised by maintaining the components protected and updated. Every system has its own vulnerabilities and when they are discovered, a “patch” is created in order to protect both the system and its users. In the time frame the patch is delivered and updated by the users, hackers might try to exploit the opportunity and preform malicious activities. The failure of quickly patching as soon as the patch is available can result in situations like the “WannaCry” NHS cyber-attack in 2017 which not only resulted in data being released it the wrong hands, but also created a disruption of an important service, required for human safety. The best way to see patches working against hacks, according to Techopedia is similar to an antidote applied to poison, you have to apply it quickly before it gets troublesome.
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