Sixty-one percent of merchants believe they’re at greater risk of a data breach than a year ago, while 22 percent of merchants have experienced data theft in the last year alone.
With the rise in cyberattacks at the forefront of the news on a near daily basis, it's becoming increasingly clear that the role of risk management and security must be elevated throughout the financial services and banking markets. Physical and IT security leaders are shifting toward a more proactive approach to security than in years' past to address and mitigate the latest emerging trend.
Why is it that we keep on doing the same things in security year after year and we expect a different result? For decades, we have been buying and installing security tools to “fix” our security issues around things such as patch management, privileged access, application vulnerabilities, etc. And yet these issues remain at the top of the list of security issues today.
Modern startups are awash in information, from real-time customer insights collected via mobile applications to employee data received through online portals. Founders are constantly making decisions about where to invest, when to hire, how to hire and, most importantly, how to grow. In the rush to cultivate clients and consider business scalability, many startups may fail to truly appreciate the immense responsibility that comes with gathering and storing data.
It’s no secret that the workplace is getting smarter every day. Through an increasingly connected world, new capabilities such as location-based services and “smart” buildings are becoming more commonplace to create today’s experience-based economy. In the not-so-distant-future, digitally-driven interactions that are personalized for employees, customers and partners will become the norm.
Successful strategists in the security arena face the same kind of tactical issues as football coaches. Attackers are skillful, resourceful and motivated success. Football coaches can’t deploy a “one-size-fits-all” strategy, and neither can security leaders. On a macro level, this is called “Risk-Based Security.”
Advocating for the return on investment (ROI) in IT security has traditionally been a challenge for IT professionals to communicate to management. IT teams are responsible for the complicated task of balancing budget limitations with strong protection that will reduce the risk of a cyberattack in today’s dynamic threat landscape. However, according to a recent Kaspersky Lab report, businesses are starting to invest more in IT security rather than treat it as a cost center.
At its National Cybersecurity Summit in late July, the Department of Homeland Security unveiled its new National Risk Management Center, which will coordinate national efforts to protect U.S. critical infrastructure.
