Data Security Trends to Expect in 2021
Original Information Courtesy of TechRepublic
1. Remote work is the top concern.
Remote work is here – and is not going anywhere. Given this, it is recommended that companies institute a formal remote work policy and utilize the right software tools to ensure company data is safe when accessed remotely to prevent attacks.
2. Data breaches are four times more common for companies that allow access to company data.
Employees should only access data that is critical to their job performance, to prevent cyberattacks from both malicious data theft and accidental data loss. The companies that do allow full access to company data are more likely to report a data breach (50.7% of breaches reported) as opposed to those that limit data access (12.6%).
3. Data classification alone is not sufficient.
Simply categorizing data as public, internal, and confidential has proved insufficient to restrict access and prevent data breaches, according to the Annual Data Security Report. The majority of companies (62%) are still offering employees access to data that they don’t need—and these companies are reportedly 2.5 times more likely to experience a data breach. Data access controls and authentication should be the top priorities.
4. Phishing schemes are spiking and becoming more harmful.
According to the report, “80% of employees report receiving phishing emails, compared to 73% in 2019, and employees are 15% more likely to click on a malicious link.” In particular, marketing employees were the most likely (38%) to click on these malicious links. This demonstrates why employees need to be diligent in their email practices.
5. A third of employees hit by account takeovers.
While account takeovers are nothing new, 2020 has resulted in a bump of online transactions. “From 2018 to 2019, TransUnion reported a 347% increase in account takeovers targeting online retail customers. And increased reliance on e-commerce will only make things worse,” the report states. Organizations need to be able to defend against business email compromise and email account compromise.
6. Improved authentication methods.
The use of two-factor authentication went up 18%, and is used by 82% of businesses in 2020. And the use and biometric data security—such as the use of fingerprints and facial recognition—went from 27% in 2019 to 53% in 2020. This is positive trend to see across industries.
7. Ransomware affected 28% of businesses.
Over the last 12 months, nearly a third of businesses were hit with ransomware—of this group, 75% paid. Still, only 70% of those could retrieve their data. Adding protection to prevent ransomware attacks and having reliable backups is imperative for every organization.
8. VR/AR use nearly triples.
In 2020, 17% of businesses harness AR (augmented reality) and VR (virtual reality) for training purposes—and digital marketing and accounting report even greater use of these tools, up to 35%. Training has moved from the physical to the virtual, and more employees, 71%, are reporting that they must attend security training annually; which is highly recommended for all employees.
9. 86% of organizations are more concerned about data privacy.
The business shifts ushered in by 2020, have resulted in increased concerns among IT departments. Knowledge of data privacy regulations have sharply risen in the last year. Securing tangible assets and intangible assets is a concern that all organizations need to focus on moving forward.
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