Rise Of Information Security Concerns

More and more personal information and business value worldwide are quickly moving into digital form on worldwide interconnected technology platforms. Due to this, the risks that are caused by cyber attacks becomes raising daunting. Criminals chase financial gain via identity theft and fraud; competitors disturb business or steal intellectual resources to grab the advantage. Enterprise regardless of size begins to understand that the tradition protection perimeter technology strategies are insufficient to handle the security threats that arises recently. In addition, cyber security concerns endure featuring at enterprise globally. Here in this article, we are going to discuss about the valuable reasons that stands behind the rise of information security concerns among the organization and individuals. 

1. Security Attacks On The Rise

Security attacks have been on the mounting spiral. There is an unending escalation in both frequency and size of attacks. Hackers seem to be achieving success in causing harm to the enterprise by the way of stealing the resources. As per the semantic report, which was released in 2016, over 1-million of web attacks happening roughly on a daily basis. Since cyber criminals now are increasingly cleverer, using new tools and innovative technologies to their wars, there is no wonder of the report of the PandaLabs (Panda Security’s anti-malware laboratory) that states that they had a seizure more than 18 million new samples of malware. 

In addition, according to the new report of ITRC (Identity Theft Resources Center) and CyberScout, the number of data breaches which was tracked in 2016 represents a considerable hike of 40% over the record of 2015. The following graph illustrates the rise in security attacks:

cybersecurity future report

Source: idtheftcentre

And these increases in the security attacks make the enterprises across the world concerns for their business security and searching for the steps to ensure protection against threats. 

2. Causing Both Active & Passive Losses

As countless of dollars’ worth of dealing is happening worldwide daily via the internet, there is an enhancing requirement to execute effective protection as well as measures to meet and repel the security related crimes. Hackers not only targets the large private sectors, but also the smaller firms and governmental websites. Because of the attacks, enterprises not only face the financial losses but also endangered losing clients, market share, and prestige. Even they can have damaged their reputations. If an enterprise experience downtime with security attack, there would be a most expensive attack consequence, even up to 1.5 million$ for larger businesses. 

Security attacks not only leads the active losses as mentioned above, but some passive losses too. For example, after the security attack, organization need to prevent such attack from happening again in the future. Enterprise ends with spending extra budget for this though this can’t be directly routed to the recovery of security breaches. 

A worst case to aware is that a research of the National Cyber Security Alliance revealed that around 60% of hacked small & medium sized enterprises go out of their business after six months of the attack. 

In addition, a research from Juniper Research, a leading market analyst, states that the average cost of the data breach will beat $150 million by the year 2020, as several business infrastructures get connected.  

Undoubtedly, every enterprise would be scared of hearing these losses as there might be a chance of being fall into one of the victims in future. 

3. Lack Of Security Awareness & Plan

Regardless of what kind of industry you are working for or running, digitized data, communication, and information remain the major part of the success of the enterprise. The important information in the wrong hand can lead to security attack, which causes data & financial losses.

As per the 2014 Cyber Security Intelligence Index, 95 % of entire security incidents comprises human errors. Most employees don’t aware how to prevent themselves and their enterprise from risk. Hackers are continually advancing their strategies, however, still, most of the individuals are still unaware of the kinds of threats they’re possible to encounter. 

A report on knowledge of employee on the data privacy & cyber security exposed that 88 % of employees are in lack of awareness to break defendable cyber incidents. 

In addition to this unawareness, most of the organizations are lack in proper security plan and strategies. In IT industry only 5% of enterprises maintain security compliance requirements in consideration while developing the product. With the reference of Barkly, Dec 2016, Security Confidence Headed into 2017, the following figure depicts that only 31 % of enterprises are taking efforts to make a security plan to meet the threats, the remaining are clueless or made no changes in their plan in terms of security. 

Security plan

4. Massive Security Resource Crunch

Despite the business risks possessed by the cyber attacks, security leaders spotlight the lack of technology and staff expertise as the main reason that behinds these attacks remain unchecked. 

In addition, most of the enterprises faced increased security risks because of lack of skilled cyber security experts. According to the study of  Tripwire, 75 % of enterprises, lack the skilled experts to deal with the cyber-attacks. Despite the demand of skilled professionals, enterprises have encountered a workforce shortage. According to the study of Frost & Sullivan, it is estimated that there will be a shortfall around 1.5 million of trained cyber security professional by 2020. 

Moreover, the CEO of Symantec states that job opening for the cyber security is anticipated to rise to 6 million worldwide by 2019.

5. Clueless Individuals

In addition to these surprise about the sources and impacts of the cyber attacks that continuing to expand, the worst thing here is most of the individuals remains clueless on what to do with these issues. Of course, there is value in the security training program, still not all the programs are value for money and effectiveness. Furthermore, there is a lack of affordable Vendor Independent Programs providing Real-Time Exposure. Though the training programs are well crafted, without possessing real-time exposure, their effectiveness is low, their value is doubtful and they’re a waste of money and time. 

Keeping all these factors that raise the security concerns, Hack2Secure, one of the few global vendors delivers End-to-End Information Security programs via Training, Certification (PearsonVUE) and Services across Information Security domains aligned with Industry Security requirements and Best practices. We are providing customizable vendor independent training programs along with real time exposures. As we are evaluating and enhancing the skill set of professionals in terms of security, we aim to fulfill the demand of resources and competent experts. Connect with us to explore more.

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