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By Sandeep Bhargava, Managing Director, Asia Pacific and Japan, Rackspace Technology

It almost beggars belief that a supposedly secure QR code designed for online payment transactions could allow an intruder to invade personal bank accounts to steal money. If an everyday activity like making digital payments is vulnerable to such complex cyber frauds, one can only fathom the large-scale damage a cyber-criminal can cause. Trespassing into an enterprise’s private data lake is worth potentially millions and even billions of dollars. 

Of equal concern is the laissez-faire approach that far too many organisations bring to their cybersecurity processes and behaviours,  especially in the context of enterprise data being very much the new “gold”. Ensuring it is safely stored, transferred and consumed by only the approved audiences should be as routine and important as our daily hygiene. When confidential information lands in the wrong hands it can result in both a financial hit and reputational damage, which may be irreparable. Even the slightest compromise in data security leaves entire organisations, and sometimes complete industries, vulnerable to critical cyber risks.

The Indian Computer Emergency Response Team (CERT-In), which is mandated to track and monitor cyber security incidents in the country, observed over 6.07 lakh cyber security incidents in the first six months of 2021. In the aftermath of the pandemic, as boundaries between remote workplaces and offices have eroded, cyber attackers are discovering new ways to intrude and misuse sensitive data, both personal and corporate. Concurrently, while automation and digitisation have presented infinite growth opportunities, they have also widened the technological surface for cyber-attackers to exploit. 

In support of this, multinational corporations and government organisations are spending heavily on cybersecurity investment, and according to a Gartner forecast, Indian enterprises will increase spending on security and risk management of their end users by 9.5 per cent to US$ 2.08 billion in 2021. To protect their interconnected networks, systems and data from malicious threats, organisations need to be aware of emerging cybersecurity trends to identify key risks,  potential impacts and best allocate spending and resources.

‘Security by design’ for complex environments

Every organisation is at a different stage of digital adoption; applying a blanket package of solutions to all of them would be woefully inadequate. Moreover, as companies move towards higher personalisation across varied digital ecosystems, they are likely to exchange ever more sensitive and granular information with stakeholders.

In this process, companies must access properly configured cloud security …….

Source: https://www.expresscomputer.in/news/cybersecurity-trends-to-watch-out-for/81307/