Earlier this year, businesses across the globe transitioned to a remote work environment almost overnight at unprecedented scale and speed. Security teams worked around the clock to empower and protect their newly distributed teams.
Protect and support a remote workforce
Cisco’s report found the majority of organizations around the world were at best only somewhat prepared in supporting their remote workforce. But, it has accelerated the adoption of technologies that enable employees to work securely from anywhere and on any device – preparing businesses to be flexible for whatever comes next. The survey found that:
- 85% of organizations said that cybersecurity is extremely important or more important than before COVID-19
- Secure access is the top cybersecurity challenge faced by the largest proportion of organizations (62%) when supporting remote workers
- One in two respondents said endpoints, including corporate laptops and personal devices, are a challenge to protect in a remote environment
- 66% of respondents indicated that the COVID-19 situation will result in an increase in cybersecurity investments
“Security and privacy are among the most significant social and economic issues of our lifetime,” said Jeetu Patel, SVP and GM of Cisco’s Security & Applications business.
“Cybersecurity historically has been overly complex. With this new way of working here to stay and organizations looking to increase their investment in cybersecurity, there’s a unique opportunity to transform the way we approach security as an industry to better meet the needs of our customers and end-users.”
People worried about the privacy of their tools
People are worried about the privacy of remote work tools and are skeptical whether companies are doing what is needed to keep their data safe. Despite the pandemic, they want little or no change to privacy requirements, and they want to see companies be more transparent regarding how they use their customer’s data.
Organizations have the opportunity to build confidence and trust by embedding privacy into their products and communicating their practices clearly and simply to their customers. The survey found that:
- 60% of respondents were concerned about the privacy of remote collaboration tools
- 53% want little or no change to existing privacy laws
- 48% feel they are unable to effectively protect their data today, and the main reason is that they can’t figure out what companies are doing with their data
- 56% believe governments should play a primary role in protecting consumer data, and consumers are highly supportive of the privacy laws enacted in their country
“Privacy is much more than just a compliance obligation. It is a fundamental human right and business imperative that is critical to building and maintaining customer trust,” said Harvey Jang, VP, Chief Privacy Officer, Cisco. “The core privacy and ethical principles of transparency, fairness, and accountability will guide us in this new, digital-first world.”
Despite highly publicized risks of data-sharing and AI, from facial recognition to political deepfakes, leadership at many organizations seems to be vastly underestimating the ethical challenges of the technology, NTT DATA Services reveals.
Just 12% of executives and 15% of employees say they believe AI will collect consumer data in unethical ways, and only 13% of executives and 19% of employees say AI will discriminate against minority groups.
Surveying 1,000 executive-level and non-executive employees across industries in North America in early 2020, the results indicate that organizations are eager to increase the pace of transformation.
AI and automation technologies play a vital role, helping businesses improve decision-making, business processes and even workplace culture. In fact, 61% say that AI will speed up innovation, and respondents say the technology is beginning to support improvements to efficiency (83%) and productivity (79%). Yet, there are many challenges with adoption and implementation, with ethical considerations and data security among the top few.
“AI presents one of the great leadership opportunities and challenges of our time. Leaders must be diligent in striking the balance, but they don’t have to go it alone,” said Eric Clark, Chief Digital Officer, NTT DATA Services.
“Our study outlines how businesses can take full advantage of emerging technologies and accelerate transformation, while taking necessary precautions on the path to responsible and secure adoption of artificial intelligence.”
Ethics and effectiveness of AI
For AI to be effective and avoid ethical pitfalls, businesses need to ensure that AI isn’t being programmed with biases that could lead to ethically charged decision-making or that cause AI to malfunction in some way.
One-quarter of executives and 36% of employees say they have experienced AI ignoring a command, and about one-fifth of both groups say AI offered them suggestions that reflected bias against a marginalized group.
Organizations do not have money or time to waste on technology investments gone wrong—so they must pivot their organizations to focus on agility, talent, change management, ethics, and other pressing issues.
Automation’s impact on the modern workforce
Modernizing the workforce means giving all employees access to the data and technologies that help them achieve optimum productivity. Most executives and employees believe that AI and automation will help improve employee effectiveness.
71% of executives say AI will make employees more efficient, 69% say it will improve employee accuracy, and 61% say it will speed up innovation. For this to happen, leaders need to invest in reskilling their workforce to get the most value out of emerging technologies.
Empowering the workforce through technology not only helps improve the bottom line, it helps drive employee retention – with 45% of employees responding they would be motivated to stay by education opportunities.
“The study overall paints a realistic picture of what we are seeing in the market,” said Tom Reuner, Senior Vice President at HFS Research.
“Going forward, enterprises will have to manage talent, organization, culture and provide the right environment for the new workforce, which seeks interesting projects and looks for meaning and motivation. AI technologies and methodologies are a critical enabler on that journey.”
AI adoption to create culture of speed, reinvention
Businesses and entire markets are being remade in terms of opportunity, operations and customer expectations, and there is no going back to the old pace of innovation. In fact, 47% of those surveyed believe failing to implement AI in some way will cause them to lose customers to competitors, and 44% think the bottom line will suffer.
However, few employees at companies surveyed think the pace of change at their organization is fast enough. In fact, less than one-third of executives and employees describe the pace of technology change, process change, or executive decision-making at their company as fast.
Even fewer—just 18% of employees and 19% of executives—say culture, which plays a major role in determining how workers respond to adjustments in technology and processes, changes quickly. This creates an opportunity for AI to drive sweeping change and speed up the pace of innovation and technology adoption.
A failing cybersecurity market is contributing to ineffective performance of cybersecurity technology, a Debate Security research reveals.
Based on over 100 comprehensive interviews with business and cybersecurity leaders from large enterprises, together with vendors, assessment organizations, government agencies, industry associations and regulators, the research shines a light on why technology vendors are not incentivized to deliver products that are more effective at reducing cyber risk.
The report supports the view that efficacy problems in the cybersecurity market are primarily due to economic issues, not technological ones. The research addresses three key themes and ultimately arrives at a consensus for how to approach a new model.
Cybersecurity technology is not as effective as it should be
90% of participants reported that cybersecurity technology is not as effective as it should be when it comes to protecting organizations from cyber risk. Trust in technology to deliver on its promises is low, and yet when asked how organizations evaluate cybersecurity technology efficacy and performance, there was not a single common definition.
Pressure has been placed on improving people and process related issues, but ineffective technology has become accepted as normal – and shamefully – inevitable.
The underlying problem is one of economics, not technology
92% of participants reported that there is a breakdown in the market relationship between buyers and vendors, with many seeing deep-seated information asymmetries.
Outside government, few buyers today use detailed, independent cybersecurity efficacy assessment as part of their cybersecurity procurement process, and not even the largest organizations reported having the resources to conduct all the assessments themselves.
As a result, vendors are incentivized to focus on other product features, and on marketing, deprioritizing cybersecurity technology efficacy – one of several classic signs of a “market for lemons”.
Coordinated action between stakeholders only achieved through regulation
Unless buyers demand greater efficacy, regulation may be the only way to address the issue. Overcoming first-mover disadvantages will be critical to fixing the broken cybersecurity technology market.
Many research participants believe that coordinated action between all stakeholders can only be achieved through regulation – though some hold out hope that coordination could be achieved through sectoral associations.
In either case, 70% of respondents feel that independent, transparent assessment of technology would help solve the market breakdown. Setting standards on technology assessment rather than on technology itself could prevent stifling innovation.
Defining cybersecurity technology efficacy
Participants in this research broadly agree that four characteristics are required to comprehensively define cybersecurity technology efficacy.
To be effective, cybersecurity solutions need to have the capability to deliver the stated security mission (be fit-for-purpose), have the practicality that enterprises need to implement, integrate, operate and maintain them (be fit-for-use), have the quality in design and build to avoid vulnerabilities and negative impact, and the provenance in the vendor company, its people and supply chain such that these do not introduce additional security risk.
“In cybersecurity right now, trust doesn’t always sell, and good security doesn’t always sell and isn’t always easy to buy. That’s a real problem,” said Ciaran Martin, advisory board member, Garrison Technology.
“Why we’re in this position is a bit of a mystery. This report helps us understand it. Fixing the problem is harder. But our species has fixed harder problems and we badly need the debate this report calls for, and industry-led action to follow it up.”
“Company boards are well aware that cybersecurity poses potentially existential risk, but are generally not well equipped to provide oversight on matters of technical detail,” said John Cryan, Chairman Man Group.
“Boards are much better equipped when it comes to the issues of incentives and market dynamics revealed by this research. Even if government regulation proves inevitable, I would encourage business leaders to consider these findings and to determine how, as buyers, corporates can best ensure that cybersecurity solutions offered by the market are fit for purpose.”
“As a technologist and developer of cybersecurity products, I really feel for cybersecurity professionals who are faced with significant challenges when trying to select effective technologies,” said Henry Harrison, CSO of Garrison Technology.
“We see two noticeable differences when selling to our two classes of prospects. For security-sensitive government customers, technology efficacy assessment is central to buying behavior – but we rarely see anything similar when dealing with even the most security-sensitive commercial customers. We take from this study that in many cases this has less to do with differing risk appetites and more to do with structural market issues.”
The cybersecurity challenges of the global pandemic are now colliding with the 2020 U.S. presidential election resulting in a surge of cybercrime, VMware research reveals.
Attacks growing increasingly sophisticated and destructive
As eCrime groups grow more powerful, these attacks have grown increasingly sophisticated and destructive – respondents reported that 82 percent of attacks now involve instances of counter incident response (IR), and 55 percent involve island hopping, where an attacker infiltrates an organization’s network to launch attacks on others within the supply chain.
“The rapid shift to a remote world combined with the power and scale of the dark web has fueled the expansion of eCrime groups. And now ahead of the election, we are at cybersecurity tipping point, cybercriminals have become dramatically more sophisticated and punitive focused on destructive attacks.”
Data for the report is based on an online survey of eighty-three IR and cybersecurity professionals from around the world in September 2020.
Incidents of counter IR are at an all-time high, occurring in 82% of IR engagements
Suggesting the prevalence of increasingly sophisticated, often nation-state attackers, who have the resources and cyber savvy to colonize victims’ networks. Destructive attacks, which are often the final stage of counter IR have also surged, with respondents estimating victims experience them 54% of the time.
55% of cyberattacks target the victim’s digital infrastructure for the purpose of island hopping
The pandemic has left organizations increasingly vulnerable to such attacks as their employees shift to remote work – and less secure home networks and devices.
Custom malware is now being used in 50% of attacks reported by respondents
This demonstrates the scale of the dark web, where such malware and malware services can be purchased to empower traditional criminals, spies and terrorists, many of whom do not have the sophisticated resources to execute these attacks.
As we approach the 2020 presidential election, cybercrime remains a top concern
Drawing upon their security expertise – and in line with recent advisories from Cybersecurity & Infrastructure Security Agency (CISA) – 73% of respondents believe there will be foreign influence on the 2020 U.S. presidential election, and 60% believe it will be influenced by a cyberattack.
Trustwave released a report which depicts how technology trends, compromise risks and regulations are shaping how organizations’ data is stored and protected.
Data protection strategy
The report is based on a recent survey of 966 full-time IT professionals who are cybersecurity decision makers or security influencers within their organizations.
Over 75% of respondents work in organizations with over 500 employees in key geographic regions including the U.S., U.K., Australia and Singapore.
“Our findings illustrate organizations are under enormous pressure to secure data as workloads migrate off-premises, attacks on cloud services increases and ransomware evolves. Gaining complete visibility of data either at rest or in motion and eliminating threats as they occur are top cybersecurity challenges all industries are facing.”
More sensitive data moving to the cloud
Types of data organizations are moving into the cloud have become increasingly sensitive, therefore a solid data protection strategy is crucial. Ninety-six percent of total respondents stated they plan to move sensitive data to the cloud over the next two years with 52% planning to include highly sensitive data with Australia at 57% leading the regions surveyed.
Not surprisingly, when asked to rate the importance of securing data regarding digital transformation initiatives, an average score of 4.6 out of a possible high of five was tallied.
Hybrid cloud model driving digital transformation and data storage
Of those surveyed, most at 55% use both on-premises and public cloud to store data with 17% using public cloud only. Singapore organizations use the hybrid cloud model most frequently at 73% or 18% higher than the average and U.S. organizations employ it the least at 45%.
Government respondents store data on-premises only the most at 39% or 11% higher than average. Additionally, 48% of respondents stored data using the hybrid cloud model during a recent digital transformation project with only 29% relying solely on their own databases.
Most organizations use multiple cloud services
Seventy percent of organizations surveyed were found to use between two and four public cloud services and 12% use five or more. At 14%, the U.S. had the most instances of using five or more public cloud services followed by the U.K. at 13%, Australia at 9% and Singapore at 9%. Only 18% of organizations queried use zero or just one public cloud service.
Perceived threats do not match actual incidents
Thirty-eight percent of organizations are most concerned with malware and ransomware followed by phishing and social engineering at 18%, application threats 14%, insider threats at 9%, privilege escalation at 7% and misconfiguration attack at 6%.
Interestingly, when asked about actual threats experienced, phishing and social engineering came in first at 27% followed by malware and ransomware at 25%. The U.K. and Singapore experienced the most phishing and social engineering incidents at 32% and 31% and the U.S. and Australia experienced the most malware and ransomware attacks at 30% and 25%.
Respondents in the government sector had the highest incidents of insider threats at 13% or 5% above the average.
Patching practices show room for improvement
A resounding 96% of respondents have patching policies in place, however, of those, 71% rely on automated patching and 29% employ manual patching. Overall, 61% of organizations patched within 24 hours and 28% patched between 24 and 48 hours.
The highest percentage patching within a 24-hour window came from Australia at 66% and the U.K. at 61%. Unfortunately, 4% of organizations took a week to over a month to patch.
Reliance on automation driving key security processes
In addition to a high percentage of organizations using automated patching processes, findings show 89% of respondents employ automation to check for overprivileged users or lock down access credentials once an individual has left their job or changed roles.
This finding correlates to low concern for insider threats and data compromise due to privilege escalation according to the survey. Organizations must exercise caution when assuming removal of user access to applications to also include databases, which is often not the case.
Data regulations having minor impact on database security strategies
These findings may suggest a lack of alignment between information technology and other departments, such as legal, responsible for helping ensure stipulations like ‘the right to be forgotten’ are properly enforced to avoid severe penalties.
Small teams with big responsibilities
Of those surveyed, 47% had a security team size of only six to 15 members. Respondents from Singapore had the smallest teams with 47% reporting between one and ten members and the U.S. had the largest teams with 22% reporting team size of 21 or more, 2% higher than the average.
Thirty-two percent of government respondents surprisingly run security operations with teams between just six and ten members.
Remote work has left many organizations lagging in productivity and revenue due to remote access solutions. 19% of IT leaders surveyed said they often or always experience network performance and latency issues when using legacy remote access solutions, with an additional 43% saying they sometimes do.
Those issues have resulted in a loss of productivity for 68% of respondents and a loss of revenue for 43%, a Perimeter 81 report reveals.
According to the report, organizations securely connect to internal networks in a variety of ways when working remotely. Some 66% reported using VPNs, 58% said they use a cloud service through a web browser, 48% rely on a remote access solution, and 34% use a firewall.
The many organizations still using legacy solutions like VPNs and firewalls will struggle to scale, face bottlenecks, and lack network visibility.
security solutions and remote work
33% of respondents said a password is the only way they authenticate themselves to gain access to systems. And while 62% of IT managers said they are using cloud-based security solutions to secure remote access, 49% said they’re still using a firewall, and 41% a hardware VPN.
But there are signs of progress, as organizations increasingly favor modern cloud-based solutions over outdated legacy solutions. Following the pandemic and a switch to remote work, 72% of respondents said they’re very or completely likely to increase adoption of cloud-based security solutions, 38% higher than before the pandemic.
“It’s no surprise that companies are increasingly moving to cloud-based cyber and network security platforms. As corporations of all sizes rely on the cloud to run their businesses, they need new ways of consuming security to effectively prevent cyberattacks regardless of their location or network environment.”
Other key findings
- 74% of respondents are adopting cloud-based security solutions over hardware due to security concerns. 44% are doing so due to scalability concerns, and 43% cited time-saving considerations.
- 61% of organizations believe that having to protect new devices is the greatest security concern in light of remote work, while 56% said their greatest concern was lack of visibility into remote user activity.
- 39% of respondents reported that scalability is their greatest challenge in securing the remote workforce, while 38% said budget allocation was their greatest challenge.
CISOs are conflicted about how their companies can best reposition themselves to address the sudden and rapid shift to remote work caused by the pandemic, a Hysolate research reveals.
The story emerging from the data in the study is clear:
- COVID-19 has accelerated the arrival of the remote-first era.
- Legacy remote access solutions such as virtual desktop infrastructure (VDI), desktop-as-a-service (DaaS), and virtual private networks (VPN), among others, leave much to be desired in the eyes of CISOs and are not well suited to handle many of the new demands of the remote-first era.
- Half of CISOs believe that security measures are impacting productivity when scaling remote-first policies.
- Bring-your-own-PC (BYOPC) policies further complicate organizations’ approaches to secure remote access.
Remote work becoming a permanent workflow
Beyond the overwhelming consensus that work-from-home is here to stay (87 percent of respondents believe remote work has become a permanent workflow in their companies’ operations), the study reveals that there is no singular best practice or market-leading approach to enabling workers in the remote-first era.
There is no prevailing solution in place to provide secure remote access to corporate assets:
- 24 percent of survey respondents utilize VPN, and more than half of these also employ split tunneling, a practice that allows users to access dissimilar security domains at the same time, to reduce the organization’s VPN loads and traffic backhauling. However, of those that use split tunneling, two-thirds of CISOs express concerns about the security of the split tunneling approach.
- 36 percent deploy VDI or DaaS. However, of those CISOs that utilize VDI or DaaS, only 18 percent say their employees are happy with their company’s VDI or DaaS solution. Further, dissatisfaction with these legacy remote access solutions isn’t limited to user experience; more than three-quarters of CISOs feel that their return on investment in VDI or DaaS has been medium to low.
Remote security policies issues
CISOs are also grappling with what their remote security policies should be in the new remote-first era:
- 26 percent of CISOs surveyed have introduced more stringent endpoint security and corporate access measures since the arrival of the pandemic.
- 35 percent have relaxed their security policies in order to foster greater productivity among remote workers.
- 39 percent have left their security policies the same.
More than 60 percent of companies felt that they weren’t ready for the changes that the proliferation of the pandemic forced. What is uncertain is whether the other 39 percent who have made no changes are standing pat because they are comfortable with their company’s security posture or because they don’t know what changes to make.
CISOs scramble to enable remote work and maintain security
“But when we surveyed CISOs who were scrambling to scale their remote workforce IT operations in light of the pandemic, it became clear how important worker productivity has now become and that legacy solutions like VPN, VDI and DaaS just can’t handle the demands of the new remote-first reality.”
Web browsing restrictions and BYOPC policies further muddy the remote-first waters. Sixty-two percent of CISOs said their companies restrict access to certain websites on corporate devices, while 22 percent say their companies do not allow access to corporate networks or applications from a non-corporate device.
The confusion indicated by the mixed results of the survey report is enough to cause many CISOs a sleepless night. In fact, the varied response trend carried over to the one unconventional question asked in the study regarding pandemic indulgences: 20 percent of CISOs report drinking more wine during the COVID-19 crisis; 32 percent drink more coffee; 8 percent choose whiskey; and, perhaps in what should come as a surprise to no one, 40 percent chose “All of the Above.”
SOCs across the globe are most concerned with advanced threat detection and are increasingly looking to next-gen automation tools like AI and ML technologies to proactively safeguard the enterprise, Micro Focus reveals.
Growing deployment of next-gen tools and capabilities
The report’s findings show that over 93 percent of respondents employ AI and ML technologies with the leading goal of improving advanced threat detection capabilities, and that over 92 percent of respondents expect to use or acquire some form of automation tool within the next 12 months.
These findings indicate that as SOCs continue to mature, they will deploy next-gen tools and capabilities at an unprecedented rate to address gaps in security.
“The odds are stacked against today’s SOCs: more data, more sophisticated attacks, and larger surface areas to monitor. However, when properly implemented, AI technologies such as unsupervised machine learning, are helping to fuel next-generation security operations, as evidenced by this year’s report,” said Stephan Jou, CTO Interset at Micro Focus.
“We’re observing more and more enterprises discovering that AI and ML can be remarkably effective and augment advanced threat detection and response capabilities, thereby accelerating the ability of SecOps teams to better protect the enterprise.”
Organizations relying on the MITRE ATT&K framework
As the volume of threats rise, the report finds that 90 percent of organizations are relying on the MITRE ATT&K framework as a tool for understanding attack techniques, and that the most common reason for relying on the knowledge base of adversary tactics is for detecting advanced threats.
Further, the scale of technology needed to secure today’s digital assets means SOC teams are relying more heavily on tools to effectively do their jobs.
With so many responsibilities, the report found that SecOps teams are using numerous tools to help secure critical information, with organizations widely using 11 common types of security operations tools and with each tool expected to exceed 80% adoption in 2021.
- COVID-19: During the pandemic, security operations teams have faced many challenges. The biggest has been the increased volume of cyberthreats and security incidents (45 percent globally), followed by higher risks due to workforce usage of unmanaged devices (40 percent globally).
- Most severe SOC challenges: Approximately 1 in 3 respondents cite the two most severe challenges for the SOC team as prioritizing security incidents and monitoring security across a growing attack surface.
- Cloud journeys: Over 96 percent of organizations use the cloud for IT security operations, and on average nearly two-thirds of their IT security operations software and services are already deployed in the cloud.
The importance of privacy and data protection is a critical issue for organizations as it transcends beyond legal departments to the forefront of an organization’s strategic priorities.
A FairWarning research, based on survey results from more than 550 global privacy and data protection, IT, and compliance professionals outlines the characteristics and behaviors of advanced privacy and data protection teams.
By examining the trends of privacy adoption and maturity across industries, the research uncovers adjustments that security and privacy leaders need to make to better protect their organization’s data.
The prevalence of data and privacy attacks
Insights from the research reinforce the importance of privacy and data protection as 67% of responding organizations documented at least one privacy incident within the past three years, and over 24% of those experienced 30 or more.
Additionally, 50% of all respondents reported at least one data breach in the last three years, with 10% reporting 30 or more.
Overall immaturity of privacy programs
Despite increased regulations, breaches and privacy incidents, organizations have not rapidly accelerated the advancement of their privacy programs as 44% responded they are in the early stages of adoption and 28% are in middle stages.
Healthcare and software rise to the top
Despite an overall lack of maturity across industries, healthcare and software organizations reflect more maturity in their privacy programs, as compared to insurance, banking, government, consulting services, education institutions and academia.
Harnessing the power of data and privacy programs
Respondents understand the significant benefits of a mature privacy program as organizations experience greater gains across every area measured including: increased employee privacy awareness, mitigating data breaches, greater consumer trust, reduced privacy complaints, quality and innovation, competitive advantage, and operational efficiency.
Of note, more mature companies believe they experience the largest gain in reducing privacy complaints (30.3% higher than early stage respondents).
Attributes and habits of mature privacy and data protection programs
Companies with more mature privacy programs are more likely to have C-Suite privacy and security roles within their organization than those in the mid- to early-stages of privacy program development.
Additionally, 88.2% of advanced stage organizations know where most or all of their personally identifiable information/personal health information is located, compared to 69.5% of early stage respondents.
Importance of automated tools to monitor user activity
Insights reveal a clear distinction between the maturity levels of privacy programs and related benefits of automated tools as 54% of respondents with more mature programs have implemented this type of technology compared with only 28.1% in early stage development.
Automated tools enable organizations to monitor all user activity in applications and efficiently identify anomalous activity that signals a breach or privacy violation.
“It is exciting to see healthcare at the top when it comes to privacy maturity. However, as we dig deeper into the data, we find that 37% of respondents with 30 or more breaches are from healthcare, indicating that there is still more work to be done.
“This study highlights useful guidance on steps all organizations can take regardless of industry or size to advance their program and ensure they are at the forefront of privacy and data protection.”
“As the research has demonstrated, it is imperative that security and privacy professionals recognize the importance of implementing privacy and data protection programs to not only reduce privacy complaints and data breaches, but increase operational efficiency.”
Despite 88% of cybersecurity professionals believing automation will make their jobs easier, younger staffers are more concerned that the technology will replace their roles than their veteran counterparts, according to a research by Exabeam.
Overall, satisfaction levels continued a 3-year positive trend, with 96% of respondents indicating they are happy with role and responsibilities and 87% reportedly pleased with salary and earnings. Additionally, there was improvement in gender diversity with female respondents increasing from 9% in 2019 to 21% this year.
“The concern for automation among younger professionals in cybersecurity was surprising to us. In trying to understand this sentiment, we could partially attribute it to lack of on-the-job training using automation technology,” said Samantha Humphries, security strategist at Exabeam.
“As we noted earlier this year in our State of the SOC research, ambiguity around career path or lack of understanding about automation can have an impact on job security. It’s also possible that this is a symptom of the current economic climate or a general lack of experience navigating the workforce during a global recession.”
AI and ML: A threat to job security?
Of respondents under the age of 45, 53% agreed or strongly agreed that AI and ML are a threat to their job security. This is contrasted with just 25% of respondents 45 and over who feel the same, possibly indicating that subsets of security professionals in particular prefer to write rules and manually investigate.
Interestingly, when asked directly about automation software, 89% of respondents under 45 years old believed it would improve their jobs, yet 47% are still threatened by its use. This is again in contrast with the 45 and over demographic, where 80% believed automation would simplify their work, and only 22% felt threatened by its use.
Examining the sentiments around automation by region, 47% of US respondents were concerned about job security when automation software is in use, as well as SG (54%), DE (42%), AUS (40%) and UK (33%).
In the survey, which drew insights from professionals throughout the US, the UK, AUS, Canada, India and the Netherlands, only 10% overall believed that AI and automation were a threat to their jobs.
On the flip side, there were noticeable increases in job approval across the board, with an upward trend in satisfaction around role and responsibilities (96%), salary (87%) and work/life balance (77%).
Diversity showing positive signs of improvement
When asked what else they enjoyed about their jobs, respondents listed working in an environment with professional growth (15%) as well as opportunities to challenge oneself (21%) as top motivators.
53% reported jobs that are either stressful or very stressful, which is down from last year (62%). Interestingly, despite being among those that are generally threatened by automation software, 100% of respondents aged 18-24 reported feeling secure in their roles and were happiest with their salaries (93%).
Though the number of female respondents increased this year, it remains to be seen whether this will emerge as a trend. This year’s male respondents (78%) are down 13% from last year (91%).
In 2019, nearly 41% were in the profession for at least 10 years or more. This year, a larger percentage (83%) have 10 years or less, and 34% have been in the cybersecurity industry for five years or less. Additionally, one-third do not have formal cybersecurity degrees.
“There is evidence that automation and AI/ML are being embraced, but this year’s survey exposed fascinating generational differences when it comes to professional openness and using all available tools to do their jobs,” said Phil Routley, senior product marketing manager, APJ, Exabeam.
“And while gender diversity is showing positive signs of improvement, it’s clear we still have a very long way to go in breaking down barriers for female professionals in the security industry.”
IT leaders are increasingly concerned accelerated digital transformation, combined with the complexity of modern multicloud environments, is putting already stretched digital teams under too much pressure, a Dynatrace survey of 700 CIOs reveals.
This leaves little time for innovation, and limits teams’ ability to prioritize tasks that drive greater value and better outcomes for the business and its customers.
- 89% of CIOs say digital transformation has accelerated in the last 12 months, and 58% predict it will continue to speed up.
- 86% of organizations are using cloud-native technologies, including microservices, containers, and Kubernetes, to accelerate innovation and achieve more successful business outcomes.
- 63% of CIOs say the complexity of their cloud environment has surpassed human ability to manage.
- 44% of IT and cloud operations teams’ time is spent on manual, routine work just ‘keeping the lights on’, costing organizations an average of $4.8 million per year.
- 56% of CIOs say they are almost never able to complete everything the business needs from IT.
- 70% of CIOs say their team is forced to spend too much time doing manual tasks that could be automated if only they had the means.
“The benefits of IT and business automation extend far beyond cost savings. Organizations need this capability – to drive revenue, stay connected with customers, and keep employees productive – or they face extinction,” said Bernd Greifeneder, CTO at Dynatrace.
“Increased automation enables digital teams to take full advantage of the ever-growing volume and variety of observability data from their increasingly complex, multicloud, containerized environments. With the right observability platform, teams can turn this data into actionable answers, driving a cultural change across the organization and freeing up their scarce engineering resources to focus on what matters most – customers and the business.”
Cloud environment complexity
- Organizations are using cloud-native technologies including microservices (70%), containers (70%) and Kubernetes (54%) to advance innovation and achieve more successful business outcomes.
- However, 74% of CIOs say the growing use of cloud-native technologies will lead to more manual effort and time spent ‘keeping the lights on’.
Traditional tools and manual effort cannot keep up
- On average, organizations are using 10 monitoring solutions across their technology stacks. However, digital teams only have full observability into 11% of their application and infrastructure environments.
- 90% of CIOs say there are barriers preventing them from monitoring a greater proportion of their applications.
- The dynamic nature of today’s hybrid, multicloud ecosystems amplifies complexity. 61% of CIOs say their IT environment changes every minute or less, while 32% say their environment changes at least once every second.
CIOs call for radical change
- 74% of CIOs say their organization will lose its competitive edge if IT is unable to spend less time ‘keeping the lights on’.
- 84% said the only effective way forward is to reduce the number of tools and amount of manual effort IT teams invest in monitoring and managing the cloud and user-experience.
- 72% said they cannot keep plugging monitoring tools together to maintain observability. Instead, they need a single platform covering all use cases and offering a consistent source of truth.
Observability, automation, and AI are key
- 93% of CIOs said AI-assistance will be critical to IT’s ability to cope with increasing workloads and deliver maximum value to the business.
- CIOs expect automation in cloud and IT operations will reduce the amount of time spent ‘keeping the lights on’ by 38%, saving organizations $2 million per year, on average.
- Despite this advantage, just 19% of all repeatable operations processes for digital experience management and observability have been automated.
“History has shown successful organizations use disruptive moments to their advantage,” added Greifeneder. “Now is the time to break silos, establish a true BizDevOps approach, and deliver agile processes across a consistent, continuous delivery stack.
“This is essential for effective and intelligent automation and, more importantly, to enable engineers to take more end-to-end responsibility for the outcomes and value they create for the business.”
As many business leaders look to close the skills gap and cultivate a sustainable workforce amid COVID-19, an IBM Institute for Business Value (IBV) study reveals less than 4 in 10 human resources (HR) executives surveyed report they have the skills needed to achieve their enterprise strategy.
COVID-19 exacerbated the skills gap in the enterprise
Pre-pandemic research in 2018 found as many as 120 million workers surveyed in the world’s 12 largest economies may need to be retrained or reskilled because of AI and automation in the next three years.
That challenge has only been exacerbated in the midst of the COVID-19 pandemic – as many C-suite leaders accelerate digital transformation, they report inadequate skills is one of their biggest hurdles to progress.
Employers should shift to meet new employee expectations
Ongoing consumer research also shows surveyed employees’ expectations for their employers have significantly changed during the COVID-19 pandemic but there’s a disconnect in how effective leaders and employees believe companies have been in addressing these gaps.
74% of executives surveyed believe their employers have been helping them learn the skills needed to work in a new way, compared to just 38% of employees surveyed, and 80% of executives surveyed said their company is supporting employees’ physical and emotional health, but only 46% of employees surveyed agreed.
“Today perhaps more than ever, organizations can either fail or thrive based on their ability to enable the agility and resiliency of their greatest competitive advantage – their people,” said Amy Wright, managing partner, IBM Talent & Transformation.
“Business leaders should shift to meet new employee expectations brought on by the COVID-19 pandemic, such as holistic support for their well-being, development of new skills and a truly personalized employee experiences even while working remotely.
“It’s imperative to bring forward a new era of HR – and those companies that were already on the path are better positioned to succeed amid disruption today and in the future.”
The study includes insights from more than 1,500 global HR executives surveyed in 20 countries and 15 industries. Based on those insights, the study provides a roadmap for the journey to the next era of HR, with practical examples of how HR leaders at surveyed “high-performing companies” – meaning those that outpace all others in profitability, revenue growth and innovation – can reinvent their function to build a more sustainable workforce.
- Nearly six in 10 high performing companies surveyed report using AI and analytics to make better decisions about their talent, such as skilling programs and compensation decisions. 41% are leveraging AI to identify skills they’ll need for the future, versus 8% of responding peers.
- 65% of surveyed high performing companies are looking to AI to identify behavioral skills like growth mindset and creativity for building diverse adaptable teams, compared to 16% of peers.
- More than two thirds of all respondents said agile practices are essential to the future of HR. However, less than half of HR units in participating organizations have capabilities in design thinking and agile practices.
- 71% of high performing companies surveyed report they are widely deploying a consistent HR technology architecture, compared to only 11% of others.
“In order to gain long-term business alignment between leaders and employees, this moment requires HR to operate as a strategic advisor – a new role for many HR organizations,” said Josh Bersin, global independent analyst and dean of the Josh Bersin Academy.
“Many HR departments are looking to technology, such as the cloud and analytics, to support a more cohesive and self-service approach to traditional HR responsibilities. Offering employee empowerment through holistic support can drive larger strategic change to the greater business.”
Three core elements to promote lasting change
According to the report, surveyed HR executives from high-performing companies were eight times as likely as their surveyed peers to be driving disruption in their organizations. Among those companies, the following actions are a clear priority:
- Accelerating the pace of continuous learning and feedback
- Cultivating empathetic leadership to support employees’ holistic well-being
- Reinventing their HR function and technology architecture to make more real-time data-driven decisions
Exposures and cybersecurity challenges can turn out to be costly, according to statistics from the US Department of Health and Human Services (HHS), 861 breaches of protected health information have been reported over the last 24 months.
New research from RiskRecon and the Cyentia Institute pinpointed risk in third-party healthcare supply chain and showed that healthcare’s high exposure rate indicates that managing a comparatively small Internet footprint is a big challenge for many organizations in that sector.
But there is a silver lining: gaining the visibility needed to pinpoint and rectify exposures in the healthcare risk surface is feasible.
The research and report are based on RiskRecon’s assessment of more than five million of internet-facing systems across approximately 20,000 organizations, focusing exclusively on the healthcare sector.
Healthcare has one of the highest average rates of severe security findings relative to other industries. Furthermore, those rates vary hugely across institutions, meaning the worst exposure rates in healthcare are worse than the worst exposure rates in other sectors.
Severe security findings decrease as employees increase. For example, the rate of severe security findings in the smallest healthcare providers is 3x higher than that of the largest providers.
Sub sectors vary
Sub sectors within healthcare reveal different risk trends. The research shows that hospitals have a much larger Internet surface area (hosts, providers, countries), but maintain relatively low rates of security findings. Additionally, nursing and residential care sub-sector has the smallest Internet footprint yet the highest levels of exposure. Outpatient (ambulatory) and social services mostly fall in between hospitals and nursing facilities.
Cloud deployment impacts
As digital transformation ushers in a plethora of changes, critical areas of risk exposure are also changing and expanding. While most healthcare firms host a majority of their Internet-facing systems on-prem, they do also leverage the cloud. We found that healthcare’s severe finding rate for high-value assets in the cloud is 10 times that of on-prem. This is the largest on-prem versus cloud exposure imbalance of any sector.
It must also be noted that not all cloud environments are the same. A previous RiskRecon report on the cloud risk surface discovered an average 12 times the difference between cloud providers with the highest and lowest exposure rates. This says more about the users and use cases of various cloud platforms than intrinsic security inequalities. In addition, as healthcare organizations look to migrate to the cloud, they should assess their own capabilities for handling cloud security.
The healthcare supply chain is at risk
It’s important to realize that the broader healthcare ecosystem spans numerous industries and these entities often have deep connections into the healthcare provider’s facilities, operations, and information systems. Meaning those organizations can have significant ramifications for third-party risk management.
When you dig into it, even though big pharma has the biggest footprint (hosts, third-party service providers, and countries of operation), they keep it relatively hygienic. Manufacturers of various types of healthcare apparatus and instruments show a similar profile of extensive assets yet fewer findings. Unfortunately, the information-heavy industries of medical insurance, EHR systems providers, and collection agencies occupy three of the top four slots for the highest rate of security findings.
“In 2020, Health Information Sharing and Analysis Center (H-ISAC) members across healthcare delivery, big pharma, payers and medical device manufacturers saw increased cyber risks across their evolving and sometimes unfamiliar supply chains,” said Errol Weiss, CSO at H-ISAC.
“Adjusting to the new operating environment presented by COVID-19 forced healthcare companies to rapidly innovate and adopt solutions like cloud technology that also added risk with an expanded digital footprint to new suppliers and partners with access to sensitive patient data.”
Many banks across the U.S. and Canada are failing to meet their customers’ online identity fraud and digital banking needs, according to a survey from FICO.
Despite COVID-19 quickly turning online banking into an essential service, the survey found that financial institutions across North America are struggling to establish practices that combat online identity fraud and money laundering, without negatively impacting customer experience.
For example, 51 percent of North American banks are still asking customers to prove their identities by visiting branches or posting documents when opening digital accounts. This also applies to 25 percent of mortgages or home loans and 15 percent of credit cards opened digitally.
“The pandemic has forced industries to fully embrace digital. We now are seeing North American banks that relied on face-to-face interactions to prove customers’ identities rethinking how to adapt to the digital first economy,” said Liz Lasher, vice president of portfolio marketing for Fraud at FICO.
“Today’s consumers expect a seamless and secure online experience, and banks need to be equipped to meet those expectations. Engaging valuable new customers, then having them abandon applications when identity proofing becomes expensive and difficult.”
Identity verification process issues
The study found that only up to 16 percent of U.S. and Canadian banks employ the type of fully integrated, real-time digital capture and validation tools required for consumers to securely open a financial account online.
Even when digital methods are used to verify identity, the experience still raises barriers with customers expected to use email or visit an “identity portal” to verify their identities.
Creating a frictionless process is key to meeting consumers current expectation. For example, according to a recent Consumer Digital Banking study, while 75 percent of consumers said they would open a financial account online, 23 percent of prospective customers would abandon the process due to an inconsistent identity verification process.
Lack of automation is a problem for banks too
The lack of automation when verifying customers’ identity isn’t just a pain point for customers – 53 percent of banks reported it problematic for them too.
Regulation intended to prevent criminal activity such as money laundering typically requires banks to review customer identities in a consistent, robust manner and this is harder to achieve for institutions relying on inconsistent manual resources.
Fortunately, 75 percent of banks in the U.S. and Canada reported plans to invest in an identity management platform within the next three years.
By moving to a more integrated and strategic approach to identity proofing and identity authentication, banks will be able to meet customer expectations and deliver consistently positive digital banking experiences across online channels.
75% of executives believe their organization scans all web applications for security vulnerabilities, while nearly 50% of security staff say they don’t, a Netsparker survey reveals.
Web application security efforts are insufficient
Even more concerning, over 60% of DevOps respondents indicate that new security vulnerabilities are being found faster than they can be fixed, indicating that web application security efforts are insufficient.
However, only just over 40% of executives are aware of this situation, and thus most companies are unlikely to be making the required investments to remedy the situation.
Despite this, respondents ranked web application security highest among areas they believe their company should focus. Over 66% of respondents named web application security as a priority – more than any other aspect of IT security, ahead of network security, endpoint security, and patch management.
- While just 20% of developers believe that development teams are resistant to incorporating security, close to half of security professionals say they encounter developer resistance.
- Just under 40% of developers indicated that critical security issues get automatically escalated, showing that organizations still have a long way to go to fully integrate security into the software development process.
- Just under 35% of developers report friction caused by security false positives, compared to over 54% of security staff. This suggests that security teams bear the bulk of extra work caused by false alarms.
Disconnect between theory and practice
The survey shows a worrying disconnect between the theory and practice of web application security. While most organizations appreciate the importance of web security, many still don’t scan all their applications and an even greater number struggle to deal with vulnerabilities in a timely manner.
This research shows that perceptions and expectations of web application security vary widely depending on the role. This misalignment between perception and reality creates dangerous threats to the security of organizations and their customer’s data as well.
With both security budgets and talent pools negatively affected by the ongoing pandemic, state and local governments are struggling to cope with the constant wave of cyber threats more than ever before, a Deloitte study reveals.
The study is based on responses from 51 U.S. state and territory enterprise-level CISOs.
- COVID-19 has challenged continuity and amplified gaps in budget, talent and threats, and the need for partnerships.
- Collaboration with local governments and public higher education is critical to managing increasingly complex cyber risk within state borders.
- CISOs need a centralized structure to position cyber in a way that improves agility, effectiveness and efficiencies.
The report also details focus areas for states during the COVID-19 pandemic. While the pandemic has highlighted the resilience of public sector cyber leaders, it has also called attention to long-standing challenges facing state IT and cybersecurity organizations such as securing adequate budgets and talent, and coordinating consistent security implementation across agencies.
Remote work creating new opportunities for cyber threats
These challenges were exacerbated by the abrupt shift to remote work spurred by the pandemic. According to the study:
- Before the pandemic, 52% of respondents said less than 5% of staff worked remotely.
- During the pandemic, 35 states have had more than half of employees working remotely; nine states have had more than 90% remote workers.
“The last six months have created new opportunities for cyber threats and amplified existing cybersecurity challenges for state governments,” said Meredith Ward, director of policy and research at NASCIO.
“The budget and talent challenges experienced in recent years have only grown, and CISOs are now also faced with an acceleration of strategic initiatives to address threats associated with the pandemic.”
“However, continuing challenges with resources beset state CISOs/CIOs. This is evident when comparing the much higher levels of budget that federal agencies and other industries like financial services receive to fight cyber threats.”
The need for digital modernization amplified by the pandemic
State governments’ longstanding need for digital modernization has only been amplified by the pandemic, along with the essential role that cybersecurity needs to play in the discussion. Key takeaways from the 2020 study include:
- Fewer than 40% of states reported having a dedicated budget line item for cybersecurity.
- Half of states still allocate less than 3% of their total information technology budget on cybersecurity.
- CISOs identified financial fraud as three times greater of a threat as they did in 2018.
- Overall, respondents said they believe the probability of a security breach is higher in the next 12 months, compared to responses to the same question in the 2018 study.
- Only 27% of states provide cybersecurity training to local governments and public education entities.
- Only 28% of states reported that they had collaborated extensively with local governments as part of their state’s security program during the past year, with 65% reporting limited collaboration.
78% of SMBs indicated that having a privileged access management (PAM) solution in place is important to a cybersecurity program – yet 76% of respondents said that they do not have one that is fully deployed, a Devolutions survey reveals.
While it’s a positive trend that the majority of SMBs recognize the importance of having a PAM solution, the fact that most of the respondents don’t have a PAM solution in place reflects that there is inertia when it comes to deployment.
SMBs are not immune, company size doesn’t protect from cyberattacks
Global cybercrime revenues have reached $1.5 trillion per year. And according to IBM, the average price tag of a data breach is now $3.86 million per incident. Despite these staggering figures, there remains a common (and inaccurate) belief among many SMBs that the greatest security vulnerabilities exist in large companies.
However, there is mounting evidence that SMBs are more vulnerable than enterprises to cyberthreats – and the complacency regarding this reality can have disastrous consequences.
“SMBs must not assume that their relative smaller size will protect them from cyberattacks. On the contrary, hackers, rogue employees and others are increasingly targeting SMBs because they typically have weaker – and, in some cases, virtually non-existent – defense systems.
“SMBs cannot afford to take a reactive wait-and-see approach to cybersecurity because they may not survive a cyberattack. And even if they do, it could take several years to recover costs, reclaim customers and repair reputation damage,” said Devolutions CEO David Hervieux.
Key findings from the survey
To dig deeper into the mindset of SMBs about cybersecurity, Devolutions conducted a survey of 182 SMBs from a variety of industries – including IT, healthcare, education, and finance. Some notable findings include:
- 62% of SMBs do not conduct a security audit at least once a year – and 14% never conduct an audit at all.
- 57% of SMBs indicated they have experienced a phishing attack in the last three years.
- 47% of SMBs allow end users to reuse passwords across personal and professional accounts.
These findings reinforce the need for better cybersecurity education for smaller companies.
“Conducting this survey reaffirmed to us that while progress is being made, there is a still a lot of work to do for many SMBs to protect themselves from cybercrime. We plan to conduct a survey like this each year so that we can identify the most current trends and in turn help our customers address their most pressing needs,” added Hervieux.
Protect from cyberattacks: The role of MSPs
One way for SMBs to close the cybersecurity gap is to seek out a trusted managed service provider (MSP) for guidance and implementation of cybersecurity solutions, monitoring and training programs. Because SMBs do not typically have huge IT departments like their enterprise counterparts, they often look to outside resources.
MSPs have an opportunity to strengthen their relationship with existing customers and expand their client base by becoming cyber experts who can advise SMBs on various cybersecurity issues, trends and solutions – as well as offer the ability to promptly respond to any security incidents that may arise and take swift action.
“We expect more and more MSPs will be adding cybersecurity solutions and expertise to their portfolio of offerings to meet this demand,” Hervieux concluded.
Prevent privileged account abuse
Organizations must keep critical assets secure, control and monitor sensitive information and privileged access, and vault and manage business-user passwords – all while ensuring that employees are productive and efficient. This is not an easy task for SMBs without the right solution in place.
Many PAM and password management solutions on the market are prohibitively expensive or too complex for what SMBs need.
Organizations are struggling to keep up with IT security and privacy compliance regulations, according to a Telos survey.
Annual compliance cost
The survey, which polled 300 IT security professionals in July and August 2020, revealed that, on average, organizations must comply with 13 different IT security and/or privacy regulations and spend $3.5 million annually on compliance activities, with compliance audits consuming 58 working days each quarter.
As more regulations come into existence and more organizations migrate their critical systems, applications and infrastructure to the cloud, the risk of non-compliance and associated impact increases.
Key research findings
- IT security professionals report receiving an average of over 17 audit evidence requests each quarter and spend an average of three working days responding to a single request
- Over the last 24 months, organizations have been found non-compliant an average of six times by both internal and third party auditors resulting in an average of eight fines, costing an average of $460,000
- 86 percent of organizations believe compliance would be an issue when moving systems, applications and infrastructure to the cloud
- 94 percent of organizations report they would face challenges when it comes to IT security compliance and/or privacy regulations in the cloud
Compliance teams are overwhelmed
“Compliance teams spend 232 working days each year responding to audit evidence requests, in addition to the millions of dollars spent on compliance activities and fines,” said Dr. Ed Amoroso, CEO of TAG Cyber. “The bottom line is this level of financial and time commitment is unsustainable in the long run.”
“As hammer, chisel and stone gave way to clipboard, paper and pencil, it’s time for organizations to realize the days of spreadsheets for ‘checkbox compliance’ are woefully outdated,” said Steve Horvath, VP of strategy and cloud at Telos.
“Automation can solve numerous compliance challenges, as the data shows. It’s the only real way to get in front of curve, rather than continuing to try and keep up.”
99 percent of survey respondents indicated their organization would benefit from automating IT security and/or privacy compliance activities, citing expected benefits such as increased accuracy of evidence (54 percent), reduced time spent being audited (51 percent) and the ability to respond to audit evidence requests more quickly (50 percent).
Organizations are rapidly increasing the size, scope and scale of their data protection infrastructure, reflected in dramatic rises in adoption of public key infrastructure (PKI) across enterprises worldwide, according to Entrust research.
PKI is at the core of nearly every IT infrastructure, enabling security for critical digital initiatives such as cloud, mobile device deployment, identities and the IoT.
The annual study is based on feedback from more than 1,900 IT security professionals in 17 countries.
IoT, authentication and cloud, top drivers in PKI usage growth
As organizations become more dependent on digital information and face increasingly sophisticated cyberattacks, they rely on PKI to control access to data and ascertain the identities of people, systems and devices on a mass scale.
IoT is the fastest growing trend driving PKI application deployment, up 26 percent over the past five years to 47 percent in 2020, with cloud-based services the second highest driver cited by 44 percent of respondents.
PKI usage surging for cloud and authentication use cases
TLS/SSL certificates for public-facing websites and services are the most often cited use case for PKI credentials (84 percent of respondents).
Public cloud-based applications saw the fastest year-over-year growth, cited by 82 percent, up 27 percent from 2019, followed by enterprise user authentication by 70 percent of respondents, an increase of 19 percent over 2019. All underscore the critical need of PKI in supporting core enterprise applications.
The average number of certificates an organization needs to manage grew 43 percent in the 2020 study over the previous year, from 39,197 to 56,192 certificates, highlighting a pivotal requirement for enterprise certificate management.
The rise is likely driven by the industry transition to shorter certificate validity periods, and the sharp growth in cloud and enterprise user authentication use cases.
Challenges, change and uncertainty
The study found that IT security professionals are confronting new challenges to enabling applications to use PKI. 52 percent cited lack of visibility of an existing PKI’s security capabilities as their top challenge, an increase of 16 percent over the 2019 study.
This issue underscores the lack of cybersecurity expertise available within even the most well-resourced organizations, and the need for PKI specialists who can create custom enterprise roadmaps based on security and operational best practices.
Respondents also cited inability to change legacy applications and the inability of their existing PKIs to support new applications as critical challenges – both at 51 percent.
When it comes to deploying and managing a PKI, IT security professionals are most challenged by organizational issues such as no clear ownership, insufficient skills and insufficient resources.
PKI deployment figures from the study clearly indicate a trend toward more diversified approaches, with as-a-service offerings even becoming more prevalent than on-premise offerings in some countries.
The two greatest areas of PKI change and uncertainty come from new applications such as IoT (52 percent of respondents) and external mandates and standards (49 percent). The regulatory environment is also increasingly driving deployment of applications that use PKI, cited by 24 percent of respondents.
Security practices have not kept pace with growth
In the next two years, an estimated average of 41 percent of IoT devices will rely primarily on digital certificates for identification and authentication. Encryption for IoT devices, platforms and data repositories, while growing, is at just 33 percent – a potential exposure point for sensitive data.
Respondents cited several threats to IoT security, including altering the function of IoT devices through malware or other attacks (68 percent) and remote control of a device by an unauthorized user (54 percent).
However, respondents rated controls relevant to malware protection – like securely delivering patches and updates to IoT devices – last on a list of the five most important IoT security capabilities.
The US National Institute of Standards and Technology (NIST) recommends that cryptographic modules for certificate authorities (CAs), key recovery servers and OCSP responders should be validated to FIPS 140-2 level 3 or higher.
Thirty-nine percent of respondents in this study use hardware security modules (HSMs) to secure their PKIs, most often to manage the private keys for their root, issuing, or policy CAs. Yet only 12 percent of respondents indicate the use of HSMs in their OSCP installations, demonstrating a significant gap between best practices and observed practices.
“PKI underpins the security of both the business and the consumer world, from digitally signing transactions and applications to prove the source as well as integrity, to supporting the authentication of smart phones, games consoles, citizen passports, mass transit ticketing and mobile banking, says Larry Ponemon, founder of the Ponemon Institute.
“The 2020 Global PKI and IoT Trends Study shows a surge in the use of PKI credentials for cloud-based applications and enterprise user authentication, underscoring the criticality of PKI in supporting core enterprise applications.”
“We are seeing increasing reliance on PKI juxtaposed with struggles by internal teams to adapt it to new market needs — driving changes to traditional PKI deployment models and methods,” says John Grimm, vice president strategy for digital solutions at Entrust.
“In newer areas like IoT, enterprises are clearly failing to prioritize security mechanisms like firmware signing that would counter the most urgent threats, such as malware.
“And with the massive increase in certificates issued and acquired found in this year’s study, the importance of automated certificate management, a flexible PKI deployment approach, and strong best practice-based security including HSMs has never been greater.”
The ongoing global pandemic that has led to massive levels of remote work and an increased use of hybrid IT systems is leading to greater insecurity and risk exposure for enterprises.
According to new data released by Cybersecurity Insiders, 72% of organizations experienced an increase in endpoint and IoT security incidents in the last year, while 56% anticipate their organization will likely be compromised due to an endpoint or IoT-originated attack with the next 12 months.
The comprehensive survey of 325 IT and cybersecurity decision makers in the US, conducted in September 2020, represented a balanced cross-section of organizations from financial services, healthcare and technology to government and energy.
IoT and enpoint security challenge
Alongside headline data that the majority experienced an endpoint and IoT security incident over the last 12 months, the top 3 issues were related to malware (78%), insecure network and remote access (61%), and compromised credentials (58%).
Perhaps more concerning was that 43% of respondents expressed “moderate to unlikely means to discover, identify, and respond to unknown, unmanaged, or insecure devices accessing network and cloud resources.”
“It is clear from this new research that the challenge of securing IoT and endpoints has escalated considerably as employees have been forced to work remotely while organizations try to rapidly adapt to the situation,” said Scott Gordon, CMO at Pulse Secure.
“The threat is real and growing. Yet, on a positive note, the survey shows that organizations are investing in key initiatives and adopting zero trust elements such as remote access device posture checking and Network Access Control (NAC) to address some of these issues.“
The negative impact of an endpoint or IoT security issue
The research found that 41% will implement or advance on-premise device security enforcement, 35% will advance their remote access devices posture checking, and 22% will advance their IoT device identification and monitoring capabilities.
For those that have been victim of an endpoint or IoT security issue, the most significant negative impact was a reported loss of user (55%) and IT (45%) productivity, followed by system downtime (42%).
Holger Schulze, CEO at Cybersecurity Insiders added, “The diversity of users, devices, networks, and threats continue to grow as enterprises take advantage of greater workforce mobility, workplace flexibility, and cloud computing opportunities.
“Not only do organizations need to ensure endpoints are secure and adhering to usage policy, but they must also manage appropriate IoT device access. New zero trust security controls can fortify dynamic device discovery, verification, tracking, remediation, and access enforcement.”
Additional key findings
- Respondents rated the biggest endpoint and IoT security challenges as #1 insufficient protection against the latest threats (49%), #2 high complexity of deployment and operations (47%), and #3 inability to enforce endpoint and IoT device access/usage policy (40%).
- Respondents rated the most critical capabilities required to mitigate endpoint and IoT security as #1 monitoring endpoint or IoT devices for malicious or anomalous activity (54%), #2 blocking or isolating unknown or at-risk endpoint and IoT devices’ network access (51%), and #3 blocking at-risk devices’ access to network or cloud resources (46%).
- When asked about anticipated investments to secure remote worker access and endpoint security technology, most organizations (61%) anticipate an increase, or significant increase, while few expect a decrease (6%).
Despite ongoing economic uncertainty amidst a global pandemic, many dealmakers remain optimistic about the outlook for the year ahead as they increasingly pursue alternative merger and acquisition (M&A) methods to navigate the crisis and pursue new disruptive business growth strategies.
According to a Deloitte survey of 1,000 U.S. corporate M&A executives and private equity firm professionals, 61% of survey respondents expect U.S. M&A activity to return to pre-COVID-19 levels within the next 12 months.
Soon after the WHO declared COVID-19 a pandemic on March 11, deal activity in the U.S. plunged — most notably during April and May.
Responding M&A executives say they tentatively paused (92%) or abandoned (78%) at least one transaction as a result of the pandemic outbreak. However, since March 2020, possibly aiming to take advantage of pandemic-driven business disruptions, 60% say their organizations have been more focused on pursuing new deals.
“M&A executives have moved quickly to adapt and uncover value in new and innovative ways as systemic change driven by the pandemic has resulted in alternative approaches to transactions,” said Russell Thomson, partner, Deloitte & Touche LLP, and Deloitte’s U.S. merger and acquisition services practice leader.
“We expect both traditional and alternative M&A to be an important lever for dealmakers as businesses recover and thrive in a post-COVID economy.”
Alternative dealmaking on the rise
For many, alternative deals are quickly outpacing traditional M&A activity as the search for value intensifies in a low-growth environment.
When asked which type of deals their organizations are most interested in pursuing, responding corporate M&A executives’ top choice was alternatives to traditional M&A, including alliances, joint ventures, and Special Purpose Acquisition Companies (45%) — ranking higher than acquisitions (35%).
Private equity investors plan to remain more focused on traditional acquisitions (53%), while simultaneously pushing pursuit of M&A alternatives — including private investment in public equity deals, minority stakes, club deals and alliances (32%).
“As businesses prepare for a post-COVID world, including fundamentally reshaped economies and societies, the dealmaking environment will also materially change,” said Mark Purowitz, principal, Deloitte Consulting LLP, with Deloitte’s mergers and acquisitions consulting practice, and leader of the firm’s Future of M&A initiative.
“Companies were starting to expand their definition of M&A to include partnerships, alliances, joint ventures and other alternative investments that create intrinsic and long-lasting value, but COVID-19 has accelerated dealmakers’ needs to create more optionality for their organizations’ internal and external ecosystems.”
Virtual dealmaking to continue playing large role post-pandemic
87% of M&A professionals surveyed report that their organizations were able to effectively manage a deal in a purely virtual environment, so much so that 55% anticipate that virtual dealmaking will be the preferred platform even after the pandemic is over.
However, virtual dealmaking does not remain without its own challenges. Fifty-one percent noted that cybersecurity threats are their organizations’ biggest concern around executing deals virtually.
“When it comes to cyber in an M&A world — it’s important to develop cyber threat profiles of prospective targets and portfolio companies to determine the risks each present,” said Deborah Golden, Deloitte Risk & Financial Advisory, cyber and strategic risk leader, Deloitte & Touche LLP.
“CISOs understand how a data breach can negatively impact the valuation and the underlying deal structure itself. Leaving cyber out of that risk picture may lead to not only brand and reputational risk, but also significant and unaccounted remediation costs.”
Other virtual dealmaking concerns included the ability to forge relationships with management teams (40%) and extended regulatory approvals (39%). When it comes to effectively managing the integration phase in a virtual environment, technology integration (16%) and legal entity alignment or simplification (16%) are surveyed M&A executives’ largest and most prevalent hurdles.
“It may be too early to assess the long-term implications of virtual dealmaking as many of the deals currently in progress now are resulting from management relationships that were formed pre-COVID. We also expect integration in a virtual setting will become much more complex a few months from now,” said Thomson.
“Culture and compatibility issues should be given greater attention on the diligence side, as they pose major downstream integration implications.”
International dealmaking declines, focus on domestic-only deals
Interest in foreign M&A targets declined in 2020 as corporate executives reported a significant shift in their approach to international dealmaking, with 17% reporting no plans to execute cross-border deals in the current economic environment, an 8 percentage point increase from 2019.
In addition, 57% of M&A executives say less than half of their current transactions involve acquiring targets operating primarily in foreign markets.
Notably, the number of survey respondents interested in pursuing deals with U.K. targets dropped by 8 percentage points, while Chinese targets declined by 7 percentage points. Interest in Canadian (32%) and Central American (19%) targets remained highest.