Cyber Security Mega-Breaches on the Horizon?
This article is called Cyber Security Mega Breaches on the Horizon. Security breaches typically have vast costs to a company. Even a mid-size organisation can rack up multiple millions to rectify damage from just one breach.
Data breaches are even more expensive, triggering a sudden lack of customer trust, which can take years to regain. Depending on location, fines can add to the cost. In the UK, for example, the ICO (Information Commissioner’s Office) is sharpening its claws, preparing to fine offending companies, punishing them while swelling the Treasury coffers.
Smaller, but significant
Smaller but significant breaches may not even hit the headlines
In 2019, we will see more mega-breaches. It is likely that this will, ironically, mean that smaller but significant breaches may not even hit the headlines, to some extent “normalising” the event.
With all the cyber security available, there is one weakness that cannot be managed by automation: people. People will continue to make mistakes, and they will continue to be repetitive and lazy in their actions.
The biggest threat, however, is not the individuals who form a user or customer base—it is the apathetic approach of many business leaders, the belief that “it won’t happen to us” because they have the latest cyber security system. Cyber security systems are all very well, but it is naïve to over-rely on them.
They only have to be lucky once
Hackers will always be one step ahead. They know what they will do and how they intend to break in. As with terrorists, hackers just need to be lucky once, while the authorities must be lucky every time.
Yes, businesses should have software with the best bells and whistles, but their security professionals will need to actively go on the attack and be more vigilant than ever in analysing the latest hacking trends next year. Read more: How to Protect Institutional Data in an eLearning Environment
An Intelligence-led approach to cybersecurity is required for 2019.
Ask questions like:
- So what?
- How are they going to hack into your system?
- Why they would want to steal your information?
- Who will want to hack into the system?
- What do we do to stop them?
This article was called Cyber Security Mega Breaches on the Horizon. Security breaches typically have vast costs to a company. Even a mid-size organisation can rack up multiple millions to rectify damage from just one breach.
We are Octopus. The Global People-Powered Competitive Intelligence Agency.
Outsmart your competition. Make the unknown known. Octopus helps you gain clarity in complex markets. With clients and tentacles around the world, we deliver sharp, actionable competitive intelligence through a blend of deep primary (HUMINT) and secondary research. If you’re looking to make smarter decisions, beat the competition, and reduce uncertainty, we’re the partner you want on your side.
