The total number of data records lost or stolen since 2013 is 9.19 billion and counting. Drilling deeper, we experience approximately five million records lost every day, or 59 records every second.
These incredibly threatening statistics have been on an upward trend year after year. They serve as validation of the worrisome threat landscape organizations endure. While these numbers alone act as a strong driver to improve cybersecurity posture, compliance requirements compound this by presenting looming consequences for entities with poor cybersecuritypractices.
As organizations and government entities across the globe struggle to maintain confidentiality, integrity and availability of their systems and data, they are now facing a continuous flow of new and updated regulations and standards designed to enforce the implementation of appropriate levels of privacy and security controls by entities of all sizes, across industries.
With major breaches like Equifax (143 million records) and major regulatory changes like those presented by the European General Data Protection Regulation (GDPR), organizations across the globe must prepare and enforce cybersecurity diligence as 2018 is upon us. These are the factors:
- There will be continuous cyberattacks on organizations, government entities and critical infrastructure, and we will see new types of state-sponsored attacks.
- A quickly growing and poorly controlled attack surface poses a significant threat to the internet of things, and Congress is unlikely to propose new laws related to IoT security anytime soon. We should expect this poorly regulated surface to continue to grow.
- Healthcare has become a high value target for cyber criminals. In the first six months of 2017, the industry had more breaches than any other. It’s set to continue lagging in cybersecurity performance.
- With customers becoming more informed on cybersecurity risks, it’s paramount for financial institutions to develop and maintain risk mitigation practices that foster good cybersecurity health. Financial institutions will lead in terms of malware attacks, and will continue to have difficulty maintaining good cyber hygiene.