Rise in Cloud Security Fends Off Cyberattacks

With technology rapidly evolving more every year, it shouldn’t come as a surprise that cyberattacks have become more frequent, leaving a more severe impact in their wake. Not all hope is lost however, as breakthroughs in cybersecurity technology with new prevention and identification techniques are on the rise.

The Global State of Information Security Survey 2016 analyzes the way executives are currently looking at new technologies and infrastructure to improve their security and reduce business risks.

With cyber-risks becoming a more weighted concern for business leaders, focusing on the multitude of new security technologies may help reduce this burden. Currently, 91 percent of organizations have embraced security frameworks aiding to improve cybersecurity and protect against cyberattacks.

“We are seeing more of what we once saw as a risk, being turned into possible solutions,” said David Burg PwC’s global and U.S. advisory cybersecurity leader. “For example, many organizations are embracing advanced authentication as a cloud service in place of solely password-based authentication.”

According to the report, 69 percent of respondents said they use a cloud-based security service to protect their sensitive data and ensure customer privacy and protection. Adapting original cybersecurity measures to fit cloud standards is making more opportunities for investments in projects like infrastructure that allows improvement of gathering information, creating models for threats and defense against cyberattacks.

Big data and the Internet of Things are rising technologies that are causing cyber challenges as well as opportunities. For big data, 59 percent of the respondents reported maximizing data-powered analytics in order to boost security by shifting security away from defense boundaries and instead letting enterprises use real-time information in ways that create true value.

With the number of connected Internet devices continuing to rise, the Internet of Things is bound to make securing cloud-based networks more important. Although investments are expected to double in 2015, only thirty-six percent of the survey respondents have a solid strategy to address the Internet of Things.

“There is no one-size-fits-all model for effective cybersecurity. It’s a journey toward a future state that starts with the right mix of technologies, processes, and people skills,” said Burg. “With those components in place, cybersecurity potentially serve as an indispensable ongoing business enabler.” 

The number of enterprises using external collaboration has seen a consistent …

… increase over the past three years. Sixty-five percent of the respondents reported that they are working with others to improve their security. With more businesses sharing data there is an increasing amount of partners and customers, it’s to be expected that information on cybersecurity would also be exchanged.

“An advanced and enhanced information security program will not only enable companies to better defend against cyberthreats. It will also help create competitive advantages and foster trust among customers and business partners,” said Bob Bragdon, vice president and publisher of CSO.

Among other notable findings in this year’s survey:

• In 2015, there was a 24 percent increase in security information as opposed to the previous year’s drop in spending.
• Fifty-four percent of respondents have a CISO at the head of their company’s security program.
• There has been an increase in board involvement in security strategy; currently 45 percent of boards participate.
• Mobile payments are becoming more mainstream with 57 percent of the respondents having adopted the mobile payment system.
• Fifty-nine percent of companies are investing in cybersecurity insurance to protect against the financial impact of cybercrimes.