From the Equifax breach this past September to the recent hack of MyFitnessPal data through Under Armour, the number of high-profile cyberattacks has continued to climb in recent months. Every company, regardless of size, must be prepared for the possibility that they’ll be the next victim.
One important step every business should take to protect their sensitive customer data is invest in the latest security solutions. This means staying educated and up to date on what technology is available and what it does to keep you safe.
According to members of Forbes Technology Council, here are the next big trends in encryption and cybersecurity that businesses should pay attention to;
Biometrics will become a critical part of cybersecurity and encryption going forward because it’s nearly impossible to replicate.
2. IoT Device Security
The next wave of cybersecurity attacks will come from the internet-of-things (IoT) devices like appliances, lights and cameras. These types of devices are cheap, easy to hack, can be found in large numbers and are geographically distributed, making them ideal targets for a hacker to commandeer and launch a distributed-denial-of-service (DDoS) attack on an unsuspecting enterprise.
3. Multi-Factor Authentication And SSO Technologies
Utilise multi-factor authentication and SSO technologies to get a handle on authentication. Integrating this with Hashicorp Vault or an HSM solution can bring about encryption key management, encryption key rotation and administration of all your data. For sensitive information within databases, consider field-level encryption so that even with the breach, any data that is leaked is encrypted.
4. Decentralisation Of Data
Decentralizing data used for authentication is here and doing it for more PII is next. Firms are abandoning storage of biometrics, PINs, and passwords and now secure them on endpoints like mobile devices. Users authenticate on-device and swap public keys with their service provider. This reduces the attack surface, lowers IT costs and gives firms more control than legacy centralized systems.
5. Increased Monitoring And Visibility
Highly publicized cyberattacks of the past few years have all had a common thread — no one noticed the issue until it was far too late. From private files left in public cloud storage to intrusions into legacy systems, lack of visibility has been a killer. Attacks are unavoidable, but detailed monitoring and proactive exfiltration scanning can prevent an unnoticed breach from making the news.
6. Multi-Layered Approaches To Encryption
In many cases, encryption may be augmented with blockchain technology, which is harder to compromise. The model of distributed data storage, cryptographic security and synchronized validation provides multiple layers of protection that are more secure than simple encryption. Data and storage architectures will need to be re-architected to provide the same levels of usability we have today.
7. Automated Breach Detection
Right now, many companies do penetration testing on their own, and they have logs and may have internal tools to detect breaches. That said, given the frequency of breaches occurring and the amount of time and energy it requires to be on top of them, it’s likely that there are many vendors that will enter this space to offer automated solutions for companies to get help both in finding and preventing breaches.
8. Simplified And Integrated Security Models
Layering reactive, signature-based tools still leaves security gaps. Encryption helps, but it does not solve this problem. First, a new, simplified, integrated model is needed and should focus on internal network, communications and endpoint monitoring. Second, defenders need to move away from the known signatures and IOCs to focus on the core network behaviors that all adversaries engage in.
9. Blockchain And Mesh Networking
With the rise in popularity of blockchain and decentralized networking, security concerns need to be rethought. It’s true that these technologies decrease centralized attacks, like DDoS. They also essentially eliminate data tampering. That said, the next big security task is protecting data in decentralized environments. The enterprise will no longer own the hardware layer.