As mentioned in Part 1, the COVID-19 era has made organizations significantly more vulnerable to cyberattacks. Companies must increase cybersecurity awareness among employees to lessen the likelihood of data breaches. Part 2 will continue discussing the Top 10 Cybersecurity Trends for 2021.
Enterprises are increasingly transitioning data storage and computing to the cloud, and thus cloud-based security services and platforms are also expanding. Utilizing them brings benefits such as decreased costs, greater scalability, stronger protections, and consistent compliance. As security requirements grow, solutions for analytics and measurement will grow in demand.
Numerous websites are employing outdated data encryption methods, making them much more vulnerable to cyberattacks. As data privacy laws are becoming more strictly enforced, companies must ensure that sensitive personal data is well protected. Upgrading their data encryption solutions will help prevent costly data breaches.
Perhaps it most valuable asset, a company’s data should be covered by an insurance policy. As a data breach or ransomware may cost millions of dollars in damages, cyber insurance provides a safety net for organizations of every size. Payments for insurance premiums have become an accepted cost of doing business, and now amount to approximately $6 billion annually.
The theft of passwords has resulted in numerous security breaches, so businesses are transitioning to authentication solutions that are password-less. Methods include biometric authentication, hardware tokens, knowledge-based authentication, and one-time password generators.
A growing number of organizations are turning to consulting with cybersecurity experts to protect their essential and sensitive data. Much of this growth can be attributed to the increasing sophistication of both cyberattacks and the solutions needed for protection. In addition, data privacy laws such as the EU’s GDPR require companies to take greater responsibility for the security of personal data gathered from users.
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