With 2020 gearing up, the corporate world is bracing itself for sophisticated and advanced data security breaches that may come their way. According to the report issued by global market insights, the worldwide cybersecurity market size is likely to surpass $300 billion by 2024.
As data hacking attacks are becoming increasingly innovative, stronger and smarter security measures are needed to be put in place to ensure companies can sustain their business and block the attacks. Here we look into the leading data security predictions based on the report. These include:
Phishing attacks to become more common
One of the principal transmission methods for malware in 2019 were phishing attacks. According to the DBIR report by Verizon in 2019, phishing attacks caused over 32% of data breaches and 78% of cyber spying events in 2019 alone. The report further states that phishing attacks are likely to grow more sophisticated and become even more trickier to detect them in the coming months.
Phishing attacks are expected to have grave impacts, and companies could face severe consequences if they are not stopped in time. The effects of phishing attacks such as data breaches, financial frauds and information leakage could intensely drain a company’s resources and damage their brand image. The report warns there could be a gush in the volume of phishing kits on the dark web. Their ready availability with lists of compromised credentials could make targeted attacks more refined and impactful. Every organization must look into getting their hands on technologies that can thwart and block phishing attempts, particularly when sent through email systems.
Identifying attacks before they happen
A crucial challenge for security professionals and enterprises in 2020 will be to recognize data attacks in time. Currently, data security solutions need a number of hours to recognize common data security threats. As cybercrime increases and the number of attacks rise, organizations could become more alert regarding the latency timeframe.
The most devastating impact on a company takes place from the moment the attack is launched until security experts detect it. Typically, it takes a high-end security solution to detect new threats to data security. And the companies that are profoundly impacted and face the most significant risk are the ones that have the malicious attack released into their system before the solution recognizes it, let alone remove it.
Collaboration platforms could be primary targets
The report further emphasizes that hackers could target enterprise collaboration platforms. These could include instant messengers and cloud drives. Cybercriminals take advantage of the fact that a consumer typically trusts these platforms implicitly. The rise in collaboration services could pose exceptional challenges for cybercrime experts, even though such applications and services are often critical in enhancing productivity.
Ransomware to become more significant and prominent
Today, even the most advanced email security solutions are finding it challenging to prevent ransomware attacks. And in the months to come, the report reveals that such attacks are likely to get more sophisticated and could get stealthier. Current security enterprise solutions need to be updated and upgraded to protect and pre-empt such attempts to ensure that the least damage is done to the company.
Enterprise Digital Rights Management (EDRM) to the rescue
Regarded as an advanced, secure and forward-looking data-centric solution, a digital rights management system for your enterprise can safeguard your company secrets, intellectual property and vital documents and PDF files. You can protect and track your data wherever it travels as well as store and control its use securely, based on the solution’s granular and tenacious data security methodologies.
A digital rights management solution is critical to secure your files, ensure safe access and protected storage. By taking an information-centric approach to enterprise wide security, a DRM solution can safeguard corporate data and ensures that it always under your control. Although DRM protection has been well-regarded for copyright security, it can also be extended to other forms of communication and email. For instance, if you are sharing sensitive business data, you would need to control the dissemination of the information, regardless of whether you are sharing it with a client, customer, or third party.
Conventional email security tools do not offer precise DRM protection. And if your clients have compromised accounts or computer systems, their data, including yours, can be exposed. For instance, if they share an unauthorized copy, you may not be able to do anything about it. Securing emails, is thus, a vital digital rights management feature. A DRM solution goes beyond data loss prevention or encryption, by providing control over how your protected document or PDF file is used even after you have sent it.