COVID-19 Impacts Cybersecurity — Why You Should Prioritize Security At Your Business
In the first half of 2019, more than 4.1 billion data records were exposed to known data breaches. With hacking attacks happening every 39 seconds, your company must have security measures in place going into the new year. According to an Entrepreneur article, here are the top five security trends to look out for in 2020:
Cloud-Based Security Expansion
- Cloud computing has become essential in the last two decades. The cloud stores sensitive data as it provides advantages like economies of scale, reduced costs, improved protection performance, greater threat intelligence and quicker compliance with government and industry standards.
Data Encryption Advancements
- Advancements in data encryption are necessary as cyber-attacks become more sophisticated. If a particular encryption technology or strategy is outdated, your data can be compromised.
Cyber Insurance
- Cyber insurance is a growing need for both small-to-medium companies and large corporations. An estimated $11.5 million was lost in 2019 due to cyber hacks and extortion. The cyber-insurance market is expected to double or even triple in 2020 as it is currently is at $2.4 billion in premiums.
Passwordless Authentication Growth
- Passwords are one of the biggest attack points for hacking. Since AOL, password privacy and protection is a major security issue. By 2022, 90 percent of mid-size companies will need to implement a passwordless authentication approach. These authentication tools can be hardware tokens, one-time password generators, biometric authentication, and knowledge-based authentication.
Need for Cybersecurity Talent
- By 2021, there will be 3.5 million unfilled cybersecurity jobs globally. This is up by 350 percent from 2014.
At MDL Technology, your company’s security is our number one concern. By offering services such as 24/7 support, network monitoring, offsite data backups, auditing and compliance and more we help ensure that you don’t need to stress about private information becoming public. Learn more about the services we offer by visiting our website.
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