Five emerging fraud threats facing businesses in 2021

With the growing threat of fraud fueled by the digital acceleration that took place in 2020, Experian revealed five emerging fraud threats facing businesses in 2021. The rapid increase in digital use created a perfect storm for fraudsters to quickly find new ways to steal funds, capitalizing on consumers’ lack of familiarity with digital platforms and the resource constraints faced by many businesses. In fact, from January 2020 to early January 2021, the Federal Trade … More

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Hospitals under siege: 5 ways to boost cybersecurity as the COVID-19 vaccine rolls out

After a spate of cyberattacks on organizations involved in developing COVID-19 vaccines, there are growing concerns that hackers are taking aim at the distribution systems currently ramping up. IBM recently shone a light on a phishing scheme targeting organizations involved in the cold storage supply chains necessary to deliver the delicate vaccines. It advised healthcare organizations to be on high alert for more similar attacks. Hospitals will play a central role in storing and distributing … More

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Digital transformation taking shape in 2021

Welcome to the New Year, where we believe most organizations will continue to work through their digital transformation practices. These updated practices heavily impact IT and business leaders who need to expedite their migration to public clouds and in many situations minimize their physical data center footprint. With that comes numerous challenges, including data privacy and security. With the COVID pandemic shaping how businesses have adapted to shelter-in-place and remote staff, we will see a … More

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Enterprises waste $5.5 million on failed DX projects

Despite significant upheaval to organizations’ digital transformation plans, the pandemic has contributed to a surge in innovative projects, according to a research from Couchbase. Failed DX projects 77 percent of organizations had to either make “noticeable” or “major” changes to their digital transformation plans, or start again from scratch. However, the rate of innovation (i.e. the number of projects driven by an original idea from within the business) almost doubled, rising from 8 percent in … More

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Four ways to improve the relationship between security and IT

Corporate security and IT departments and the people who lead them often have complicated relationships. But does it really have to be that way? It’s a critical question as digital business accelerates in every industry and market, its rise only magnified by the COVID-19 pandemic. Never has it been more important for the CIO, CISO and other digital technology leaders to work in lockstep as they shape their organizations’ future. For too long in too … More

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2020 set the stage for cybersecurity priorities in 2021

It’s safe to assume that pretty much everyone is ready to move on from 2020. Between the COVID-19 pandemic, political battles, and social unrest, this has been a stressful year in so many ways. It has also been a very active year for cybercriminals and fraudsters who have preyed on people’s fears and vulnerabilities to push new scams. They’ve spoofed government health sites to trick people into clicking on malware links. They’ve targeted food delivery … More

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2021 will overburden already stressed infosec teams

The year 2020 has given us a contentious U.S. election, a global economic crisis, and most notably a global pandemic. Disinformation has wreaked havoc in our ability to discern fact from truth, ransomware has been delivering ever more serious consequences, and insider leaks continue to validate privacy concerns despite increased adoption of privacy laws across the globe. According to a recent study published by Webroot, there has been a 40% increase in unsecured RDP-enabled machines … More

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Organizations further along the digital transformation maturity spectrum have an advantage

Concerns around security, privacy, cloud and technology resilience are being further fueled by shifting business priorities, the pandemic-induced remote work environment and accelerated deployment of new technologies, according to a survey from Protiviti and ISACA. Entering into 2021, IT audit groups – particularly those in more digitally mature organizations – are utilizing more dynamic and real-time approaches to technology risk assessment, which enables them to be more agile and responsive to the rapidly evolving risk … More

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Working together to suppress complex and organized fraud

As the entire world has learned throughout 2020, effective suppression of the COVID-19 pandemic requires concerted responses and coordinated action. Medical professionals must adopt new protocols; local, state, and national governments must implement track-and-trace programs; everyday citizens must adopt risk-minimizing tactics like wearing masks and physical distancing. Unfortunately, fraudsters have taken advantage of the pandemic to rob and steal. And just as beating the virus, beating COVID-19-related fraud will also require a multiparty approach. Organizations … More

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CFOs taking strategic roles after overcoming COVID-19 challenges

CFOs are taking on greater strategic and enterprise-building roles after guiding their organizations through the challenges of COVID-19. CFO Research of Argyle Advisory & Research Services and FTI Consulting surveyed 325 corporate finance executives to better understand how CFOs and the finance function drive enterprise value. Five key themes The work of CFOs during the pandemic has earned them the right to be strategic leaders in their organizations, as the pandemic shined a spotlight on … More

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As technology develops in education so does the need for cybersecurity

The COVID-19 pandemic has had a profound impact on education, bringing about a sudden boom in remote and online learning. While the transition has forced many schools to implement innovative solutions, it has also revealed stark vulnerabilities in their cybersecurity strategies, which is especially concerning given that schools have become a new target for cyber criminals. A big problem is that even before the pandemic, cybersecurity hasn’t been a priority in education. A lack of … More

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Only 30% prepared to secure a complete shift to remote work

The biggest security concerns facing businesses are data leaking through endpoints (27%), loss of visibility of user activity (25%) and maintaining compliance with regulatory requirements (24%), DTEX Systems reveals. These concerns are followed by access from outside the perimeter (23%) and remote access to core business apps (18%) such as email and collaboration. Few companies prepared to secure and support a shift to remote work The report also found that only 30% of companies surveyed … More

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CFOs optimistic, expect the economy to improve in 2021

Each quarter, Deloitte tracks the thinking and actions of leading CFOs representing North America’s largest and most influential companies. Participating CFOs represent diversified, large companies averaging more than $10 billion in annual revenue. CFOs unveil economic expectations for 2021 This quarter, just 18% of CFOs rate the North American economy as good, but 59% expect better conditions in a year. Europe was flat at 5% and 37%, respectively, and China improved markedly to 47% and … More

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Five ways COVID-19 will change cybersecurity

The main story of 2021 won’t be the disease, but the vaccine. With three effective, promising vaccines in development as of November, COVID-19 (and its treatment) will continue causing major shifts in nearly every facet of our lives. That is particularly true for cybersecurity. Our sector transformed in 2020, and we have still not finished adapting to the virus. Here are five ways that COVID-19 and its vaccines will cause cybersecurity to change in 2021: … More

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Disruption in 2020 paves the way for threat actors in 2021 and beyond

There’s no doubt that 2020 will be remembered for the uncertainty and rapid change it brought. As the global pandemic accelerated trends like remote working and digital transformation, it has also created new cybersecurity challenges. However, although much of 2020 was unpredictable, it’s still possible to step back and look at infosecurity developments that will point the way forward. Sophisticated social engineered attacks on the horizon A recent Verizon report highlighted social engineering as a … More

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Healthcare organizations to increase hybrid cloud deployments

Nutanix announced the healthcare industry findings of its report, measuring healthcare organizations’ plans for adopting private, hybrid and public clouds. The findings point to a growing trend within the sector: with 70% of respondents reporting that COVID-19 has caused IT to be viewed more strategically within their organizations and the pandemic has accelerated digital transformation that is likely to shape the future of healthcare. Looking for ways to support technology demands of COVID-19 As COVID-19 … More

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2020 broke cybersecurity records, here’s what’s to come in the new year

With chaos and uncertainty reigning, 2020 created near-perfect conditions for cybercriminals. The COVID-19 pandemic transformed the way we live and triggered a mass migration to digital channels as companies virtually replaced in-person interactions for employees and consumers alike. Nearly ten months in, the pandemic rages on, and cybersecurity threats are accelerating. While vaccine distribution is on the horizon, the pandemic’s economic and social fallout will take time to mend. Bad actors see opportunity during turbulent … More

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Expedited shifts to hybrid infrastructure and remote work challenges

There was a significant acceleration of cloud and colocation migrations, with 54 percent of IT leaders stating the pandemic has motivated their organization to move applications and workloads off-premise, according to an INAP survey. Additionally, IT leaders shared that their primary challenges for the upcoming year primarily center around adapting infrastructure and networking strategies for remote work or returns to the office. Despite pressure, IT pros reported some positive impacts Despite heightened pressure, IT pros … More

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Stress levels are rising, but that doesn’t have to mean more security incidents

For those working remotely during the pandemic, changes to how work is done have significantly increased stress levels – and when we’re stressed, we’re more likely to make mistakes that result in sensitive data being inadvertently put at risk. Our 2020 Outbound Email Security Report revealed that stressed and tired employees are behind 37% of the most serious data leaks – caused by all-too-common culprits, including adding an incorrect recipient to an email, attaching the … More

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Migration delays prevent AD-centric zero trust security framework adoption

37 percent of IT professionals rated rapid changes in their AD/AAD environment as the key impact of COVID-19 on their organization’s identity management team, a One Identity survey revealed. Given the unique challenges of the sudden shift to remote work amidst COVID-19, businesses should look toward integrating AD/AAD with a strong privileged access management (PAM) solution in order to harness the full value of AD and AAD, dramatically increasing the security of their IT environments. … More

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Accelerated cloud migration may leave business data insecure

The pandemic has accelerated digital transformation for 88% of global organizations. However, this increase in cloud adoption may leave business data insecure, Trend Micro reveals.

accelerated cloud migration

Accelerated cloud migration

“It’s a very positive sign that a majority of organizations around the world are embracing digital transformation and adopting the cloud,” said Mark Nunnikhoven, VP of cloud research for Trend Micro.

“But the survey findings also highlight the challenges remaining with understanding security in the cloud. Cloud adoption is not a ‘set it and forget it’ process, but takes ongoing management and strategic configuration to make the best security decisions for your business.”

Customers are responsible for securing their own data

The survey confirms a simple misconception that can lead to serious security consequences. While cloud infrastructure is secure, customers are responsible for securing their own data – which is the basis of the Shared Responsibility Model for cloud.

92% of respondents say they are confident they understand their cloud security responsibility, but 97% also believe their cloud service provider (CSP) offers sufficient data protection.

Of those surveyed, only 55% of respondents use third-party tools to secure their cloud environments. This suggests that there may be significant coverage gaps and confirms that the shared responsibility is not understood.

The research has found that misconfigurations are the number one risk to cloud environments, which can happen when companies don’t know their part of the Shared Responsibility Model.

Organizations confident in their cybersecurity posture

The surveyed organizations seem to be confident in their cybersecurity posture in the cloud, as:

  • 51% claim the accelerated cloud migration has increased their focus on security best practices
  • 87% believe they are fully or mostly in control of securing their remote work environment
  • 83% believe they will be fully or mostly in control of securing their future hybrid workplace

Despite this confidence, many respondents also admitted to experiencing security related challenges:

  • 45% said that security is a “very significant” or “significant” barrier to cloud adoption
  • Setting consistent policies (35%), patching (33%), and securing traffic flows (33%) were cited as the top three day-to-day operational headaches of protecting cloud workloads
  • Data privacy (43%), staff training (37%) and compliance (36%) were reported as significant barriers in migrating to cloud-based security tools

“The good news is that by using smart, automated security tools, organizations can migrate to the cloud headache-free, ensuring the privacy and safety of their data and overcoming skills shortages as they do,” Nunnikhoven added.

Security solutions for cloud environments rated most important to responding organizations were network protection (28%), cloud security posture management (26%) and cloud access security broker (19%) tools.