One thing that was clear in 2017: In spite of big spending on security solutions, organizations haven’t yet figured out how to protect themselves from data breaches. In response, regulatory bodies are issuing strident security requirements and organizations are looking for new innovations and strategies to better protect information no matter where or how it travels. Over the next six weeks, we will share our six predictions for data security in 2018.
Prediction 1: When it comes to the number and severity of breaches, it’ll get worse before it gets better.
While cyber security is (or should be) on every CEO’s and CISO’s mind, 2018 likely won’t be the year that we see a downturn in the number or severity of breaches. Too many companies are still focused on protecting the perimeter, devices and applications. And with data increasingly traveling beyond the corporate perimeter to third parties, on personal devices, and not only via email, but also through file sharing services…the exposure to breaches will continue.
According to the recently published Data Breach Report from the Risk-Based Security group, the number of records exposed due to data breaches in the first nine months of 2017 is up 305% compared to the same period in 2016. A while Equifax dominated the headlines in Q3, over 1,400 other breaches quietly made their debut.
In 2018 expect to see companies develop a more comprehensive security plan by introducing a data-centric security approach to ensure data is protected no matter where it travels or is stored. As well, in addition to the CISO and CEO, expect other members of the executive team including Chief Compliance and Risk Officers and General Counsel to become much more involved in solving the security and regulatory compliance issues.