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Top Takeaways from the 2017 Cybersecurity Trend Report

Updated: May 15






Top Takeaways from the 2017 Cybersecurity Trend Report

Do you ever wish you knew how other businesses are dealing with today’s security threats? The 2017 Cybersecurity Trends Report, recently released by Crowd Research Partners, provides insight into the cybersecurity concerns and priorities of organizations across a wide range of industries.

The report is a comprehensive study revealing current cybersecurity trends in threat management, data protection, cloud

#1 – Everyone is Worried about Cybersecurity

Security threats are a very real and urgent concern for most companies. Over half (54 percent) of cybersecurity professionals anticipate successful cyberattacks on their organization in the next 12 months. And they aren’t taking that threat lightly. 52 percent are boosting their security budget by an average of 21 percent.

Most professionals are not convinced that they are ready for an attack. 62 percent of respondents were moderately confident to not at all confident in their organization’s overall security posture.

#2 – Lack of Budget is Greatest Barrier to Security

While the majority of organizations are increasing their security budget, finances remain one of the top obstacles to stronger security, with 45 percent of respondents citing lack of budget as a barrier that inhibits the organization from defending against cyber threats.

For this reason, it’s essential that companies spend their money on solutions that give them a solid return on investment. Using free tools and apps where an enterprise-class product is needed can cause a company to fall victim to a cyberattack, while purchasing the most expensive tools on the market can leave you with empty pockets and a long list of features you don’t need.

#3 – Internal Threats & Untrained Employees are Biggest Threats

33 percent of cybersecurity professionals are worried about threats coming from within the company. While a malicious employee may hack into sensitive data intentionally, in most cases the more pressing concern is careless or uninformed staff members. A lack of skilled employees tops the list of barriers to both stronger security (45 percent) and to threat management (33 percent).

Whether your insider threats are malicious or careless, solutions with role-based security and auditing are recommended to help mitigate risk of a breach. Role-based security enables organizations to restrict permissions of individual users to only the information and functionality required to do their job, while auditing capabilities provide detailed audit logs of actions taken by each user.

Another top concern is the security of cloud applications, services, and infrastructure. Respondents cited fears including the need to protect against data loss, threats to data privacy, and breaches of confidentiality. To protect sensitive data transferred using a cloud-based solution, experts recommend verifying that the solution provides end-to-end encryption for protecting files at rest and in transit.

#4 – Encryption is Greatest File Transfer Challenge

The number one concern when it comes to transferring files is security, with 59 percent of survey respondents citing encryption of files as a challenge they face. This is a serious shortcoming given that 67 percent of respondents ranked data encryption as the most effective means for protecting against cybersecurity attacks. It’s critical that any organization transferring files implements a secure managed file transfer solution that streamlines the process of providing various types of encryption like SSL, SSH, AES, and OpenPGP.

Unfortunately, the majority of organizations surveyed are still using inadequate solutions. For example, email is still the most common file transfer method for smaller files, even though unsecured email is both vulnerable to cyberattack and difficult to track for auditing.

Over half of professionals surveyed said that they lack the tools to prove compliance related to transfer of sensitive files. The right enterprise file transfer software simplifies compliance by providing the security features required by major industry regulations, the reports an auditor needs to see, and even tools to help you check if your data transfers are meeting standards.

Learn more about what the 2017 Cybersecurity Trends Report means for your file transfers, or read the full report now.

Download the Cybersecurity Trends Report

For more information, please contact Chris Anderson of SPI Group Pty Ltd  on 011 234 1560 or fax 011 234 1387; email chris@spi.co.za or visit our website www.spi.co.za

 

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