According to recent statistics, up to 15% of Europeans have experience with cybercrime. These cybersecurity threats can result in stolen credit card details, identity theft, ransomware, and malware infections enslaving their machines into large botnets. In this blog post, we discuss which digital transformation trends drive cyber security.
Understanding the future of cybersecurity is crucial for your business. An awareness of current and upcoming cybersecurity threats combined with an awareness of and adherence to cybersecurity best practices are the only things that can keep your data safe.
Since GDPR was introduced, €114 million of fines have been imposed by data protection agencies across the EU. To avoid being fined, it is imperative that you keep your data and that of your customers secure.
Future of cyber security and internet of things (IoT)
The internet of things is a term that refers to a whole host of different smart devices that are linked via the internet. For instance, smart locks, smart lights, smart speakers, etc.
This tech can make our lives easier and can also offer some great business advantages. For instance, smart lights can cut energy usage and reduce your bills, digital assistants can be used to increase productivity, smart locks can increase security.
The problem at the heart of the internet of things, one of the largest digital transformation trends, is that these devices are hackable. They introduce a whole host of new vulnerabilities into your network. For instance, an attacker can hack a smart lightbulb and use it to reveal your Wi-Fi password.
So does this mean that the future of cybersecurity requires you to forfeit all your connected devices? Should you don a hair shirt and go back to older tech? Not at all; but you need to make sure that your devices are secured.
To secure your devices, anything that needs to run permanently and remain connected to the internet at all times should use multi-factor authentication to access. Ensure only authorized users can connect to these devices.
If these devices require physical interaction, you should also turn their storage locations into hardpoints. Make sure that they can only be physically accessed by authorized personnel too. You could, for instance, apply tamper-proof seals to the devices to make sure they’re not meddled with.
Additional cybersecurity threats from 5G
The rollout of 5G technology looks fantastic on the surface. It will bring lightning-fast internet to a broader range of devices and increase connectivity. These are all true, yet this increased connectivity brings cybersecurity threats with it.
One of the foremost digital transformation trends that will drive cybersecurity in the coming years is increased connectivity and a lax attitude to security. While the 5G rollout has halted in Switzerland, it looks likely that it will resume soon, with telecom providers having already built 2000 new antennas.
As with the internet of things, the 5G rollout and the boost to connectivity is a boon for your business if you use it wisely.
If you are considering using 5G on laptops and other devices when out of the office, make sure you secure them. There is a fear that due to the huge amount of traffic that users will transmit over 5G networks, it will be less easy for monitors to spot malicious traffic. This could lead to hackers enslaving your devices into botnets with greater ease.
You should also ensure that you have a backup in place if the 5G network goes down. For instance, if, as part of digital transformation, you connect your industrial facilities to a 5G network and the network fails or attackers compromise it, mission-critical data and productivity could be at risk.
Whichever devices you connect to a 5G network need to be as secure as if they were on your Wi-Fi. Do not assume that 5G networks cannot be used as attack vectors. They can be.
One of the biggest cybersecurity threats that will come from digital transformation is increased information vulnerability. More information will be online. For instance, more of your employees will have access to the internet via updated technology.
This puts them at great risk of social engineering. Social engineering is where an attacker uses publicly-available information to target a victim with great accuracy.
For instance, an attacker may use the name of a well-known customer or client of yours and purport to be them when emailing you. This means that your employees are more likely to assume the email is genuine and to click on links or open attachments that then download malware to your computer.
The attacker can then use this malware to harvest personal information or classified data from your company’s computers. Social engineering is already a prominent threat thanks to social media making personal information more accessible. As you open up more and more of your company to the internet, this threat will become worse and worse.
The best way around this is to train your staff. Make sure to check our Cyber Security Specialist training with Swiss Federal Diploma. Teaching your employees to recognize suspicious emails and informing them of the best cyber security practices that they need to follow should be an essential part of your onboarding process. As your company undergoes a digital transformation, more and more employees should be given this cyber security training.
You should also teach your employees about the key concepts behind social engineering and targeted phishing. For instance, you may ask them to keep certain pieces of personal information or social media profiles private, if you expect attackers to target them.
How Swiss Cyber Forum can help?
The future of cybersecurity is not set in stone. There are greater risks as your company undergoes a digital transformation but these can be mitigated by having an educated workforce.
Becoming a member of the Swiss Cyber Forum helps you collaborate with cyber security experts to share knowledge and keep your business safe. We organize webinars, training sessions, masterclasses, and conferences that can help you stay secure while doing business. Don’t miss this opportunity and become a member now.