Across industries, companies have been intensifying their focus on cybersecurity. This is a direct consequence of the expanding role that digitization is playing in their business and operating models and the demonstrated potential for significant damage resulting from a successful cyberattack.
Criminals go where they can do the most damage with minimal effort. It's why, for years, hackers targeted Windows rather than Macs - it was where the users, and in turn the data, were. And now we're seeing a steady migration from one platform to the next as popularity grows. Hackers moved from Windows to Apple's OS to mobile. Now, unsurprisingly, they are targeting the cloud.
A cyber crime occurs every 18 seconds, but few companies are developing proactive plans to deal with a security event before it happens. Involving executives, including a company's board of directors, is imperative for retailers to mitigate the damage from a breach.
Will a strong system for protecting the privacy rights of computer and device users be in place 10 years from now? A sampling of technology experts says probably not. In a new survey by the Pew Research Center, more than half the 2,511 people polled said there will not be a "secure, popularly accepted, and trusted privacy-rights infrastructure" established by 2025.
In the evolving supply chain, technology has allowed for more rapid and productive dissemination of critical information between organizational partners upstream and downstream. While this increased flexibility, scalability and efficiency of operations provides economies of scale and scope on the revenue and expense side for businesses, the tradeoff becomes a burgeoning access terminal for cybercriminals to poach critical intelligence flows.
Retail is still under attack and consequently the security effectiveness of retail organizations as a whole has continued to decline over the past year. However, almost 75 percent of retailers that experienced a data breach in the last year have improved their security effectiveness since the point of their breach, while a third of the breached retailers link back to compromises via third-party vendors.
Bring-your-own-device has caught on, and for many it's a positive development. Security is a big issue for companies that follow the trend, though, and one way to ensure it is by having remote-wiping capability to invoke under certain sets of circumstances. The trouble is, many of the gadgets in use don't segregate business and personal data. That means when a phone or tablet is wiped, everything goes.
Thirty-seven percent of more than 5,000 respondents reported economic crime in their organizations, with the categories of bribery and corruption and cybercrime experiencing notable growth, according to PwC in its latest Global Economic Crime Survey.