August 28, 2014
Information Security: 10 Trends to Watch for
With the ever-increasing number of large and small data breaches across multiple industries, there’s a huge interest and concern around what the future holds for the security of personal and business data.
Here is a look at what some industry experts are predicting for information security in the workplace.
- Better mobile security. With 48% of people owning smart phones and a BYOD (bring your own device) policy is becoming more common in workplaces, mobile devices (the device, network and applications) need to become more secure, according to Security Intelligence.
- More expertise on the job. The 2014 Cost of Data Breach Study showed that having a Chief Information Security Officer (CISO) in charge can help reduce the cost of a data breach. At the same time, computer science programs will continue to adapt for cyber security needs with more focused training in cyber security jobs, according to Techday's Top 13 Cyber Security predictions for 2014.
- Cyber insurance products. Ponemon research shows that companies with good security practices are more likely to purchase insurance. As companies improve their information security practices, insurance will become an important consideration.
- Better physical safeguards. Security Dreamer's "The Future of the Security Industry" shows that while security executives are aware of physical threats to information (such as dumpster divers and unauthorized visitors), they still need to implement thorough procedures to protect against it.
- Chain-of-trust attacks. Network Solutions warns that as advanced attackers go after harder targets, there will be more ‘chain-of-trust’ cyber breaches where computer hackers hijack business partners in order to gain access to an organization.
- Security visibility. With the spotlight on data breaches, companies are beginning to focus on security visibility tools. These tools can help identify security-related issues in organizations.
- Data breach response plans. Quick and efficient response to a breach has been shown to help contain damage and reduce the cost of a breach significantly. With the average cost of a data breach pegged at $3.5 million, according to the 2014 Cost of Data Breach Study, there is an expectation that more companies will implement an incident response and crisis management plan.
- More investment. Ponemon Institute research shows that in some cases, respondents would like to double the amount that is spent on information security. Companies will put more money into security operations and virtual command centers, security information management systems, and networked cameras and sensors at high-risk facilities.
- Declining data breach costs. With all the attention on information security and companies becoming better prepared for data breaches, the overall cost of data breaches will actually start to go down.
- Secure document destruction. Shred-it’s 4th Annual Security Tracker shows that less than half of c-suite executives have a policy for storing and disposing of confidential data that employees follow and only half use a professional shredding service. Secure document disposal has become an important part of information security best practices.