Information security can be used as a strategic differentiator, especially in a global economy that conducts further business electronically. Secure business systems are a value-added selling tool in an increasingly smart and cautious client base. It is much better to incorporate introductory information security principles in your business operations rather than delegating these activities to your IT department and hoping that they address them.
Quadrant Knowledge Solutions identifies the infosec market, which is still in its initial stages, has a few formal norms established for its products and services. All companies count on their computer systems and the internet to conduct their business. Disruptions to their operations can draw on a wide-ranging negative impact on a company’s reputation, profit aqueducts, client confidence and public relations. This dilemma makes information security an essential element of an effective overall business strategy. Establishing an information security program that addresses your business’s pitfalls should be a high priority.
A few significant challenges faced by the infosec sector:
The frequency and complexity of cyberattacks have soared in recent times. Ecommerce sites are treasure troves of personal and monetary data and will remain a hot target for cyberattacks. And for businesses of all sizes, the cost of a breach both in loss of data and client trust can be monstrously detrimental. Ecommerce businesses are apprehensive of these issues and are boosting their security measures. Online retailers need to constantly modernize their sites with innovative technologies to avert cyberattacks and stay at par with their rivals. Cyber assailants are equivalently honing their expertise and finding new vulnerabilities to exploit.
Rising infosec attacks
With the Covid- 19 outbreak, cybercriminals have seized this global calamity to launch perfidious cyber exploits. With WFH turning out to be the norm, the world over the heavy dependence on technology was unavoidable. In addition to that the increased adoption of 5G, interconnectedness of devices, new processes, procedures, streamlined employee profiles and less-controlled work surroundings have all led to an increase in vulnerabilities. Cybercriminals use phishing, malware, identity thefts, ransomware, social engineering, whaling and spam mails to strike their targets.
Juvenile infosec market
Missing security programs, ignorance about what a mature cybersecurity program looks like, and lack of competent committed resources are a few reasons why cybersecurity programs are still at an immature footing in businesses. It is incredibly rare to find associations that have devoted security resources. In most cases, the responsible individual owns the security role in name, but it is not their only job, nor even their primary function. They simply do not have the time to laboriously drive organizational cybersecurity. It is a manner of poor cyber-hygiene, which inescapably results in negative consequences for the organization.
Deficit of infosec staff
As data breaches at government agencies, educational organizations and businesses continue to expand, so does the need for InfoSec professionals. likewise, hackers keep getting smarter and their attacks keep getting more sophisticated. The high demand leads to an ongoing deficit of information security professionals. In other cases, the people recruiting also lack cybersecurity expertise, which can make it prickly to identify the right contender. Employers need to have realistic expectancies when hiring cybersecurity professionals. Descriptions for cybersecurity positions should precisely match the knowledge and expertise the position requires.
Mobile appliances and wireless computing
Mobile devices are veritably prone to new types of security attacks and fraud issues caused not only because of the mobile devices’ vulnerability but also because of the sensitive data that the devices have stored. Wireless communications liberate employees and customers from depending on phone lines to speak. Information accessibility and communications have increased due to mobile computing devices. With the convenience of these devices, information security concerns increase because the inside information stored on them needs to be safeguarded.
SOLUTIONS TO RISK MANAGEMENT –
Information Security Risk Management involves considering and evaluating risks in accordance with the confidentiality and integrity of an organisation’s assets. There are four stages of ISRM –
- Identifying assets – which have the most significant impact on your business if their confidentiality or integrity were to be compromised
- Identifying vulnerability – which involves identifying system level or software vulnerabilities which put those assets at risk
- Identifying threats – that helps identify risks by tying them to known threats and the ways they can cause damage
- Identifying controls – which addresses an identified vulnerability by fixing it or lessening the chances and impact of the attack
Staff should be trained to assist them in differentiating between legitimate and suspicious emails or websites. Regular cyber awareness workshops and training should be conducted to educate and train employees as steps should be taken to avoid security risks and raise awareness around online threats. Quality endpoint security solutions across all network endpoint devices should be considered since malware can infect the entire network. Connecting over encrypted channels while using the internet is a must since encryption stores your data in an unreadable form, which is useless for an attacker without a decryption key. Eliminating insecure redirects HTTP strict transport security that allows only HTTPS connections which can ensure that only HTTPS connections are established between the client and the server. Clicking on links and downloading attachments or software from questionable sources should be avoided to prevent phishing attacks. Anti-ARP spoofing tools should be utilized to assist in mitigating spoofing attacks. Avoid visiting pages you do not trust as the likelihood of a drive-by attack propagated through suspicious websites is far higher.
These hazards will not go away, and successful companies will embrace strategies to minimize them and offer unique results to their clients. Organisations and supervisors need to realize, understand, and address significant challenges which the infosec sector is presently facing. Being an influential tool for business today, it is important to identify and understand the internet and the essential security pitfalls that come forth with it. With growing numbers of users from a few thousand to hundreds of millions, major challenges subsist today that organisations and businesses must keep in their attention to when using the internet. Risks can no way be excluded, which means companies will need to take on strategies to minimize them and offer unique solutions to their clients.
Sayeri Roy is a Content Writer at Quadrant Knowledge Solutions