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Cyberwarfare predicted to damage the economy in the coming year

CISOs and infosec professionals however are shoring up their defenses — with 51% and 48% respectively stating that they believe they will need a strategy against cyberwarfare in the next 12-18 months.

These findings, and more, are revealed in Bitdefender’s global 10 in 10 Study, which highlights how, in the next 10 years, cybersecurity success lies in the adaptability of security decision makers, while simultaneously looking back into the last decade to see if valuable lessons have already been learnt about the need to make tangible changes in areas such as diversity.

It explores, in detail, the gap between how security decision makers and infosec professionals view the current security landscape and reveals the changes they know they will need to make in the upcoming months and years of the 2020s.

The study takes into account the views and opinions of more than 6,724 infosec professionals representing a broad cross-section of organizations from small 101+ employee businesses to publicly listed 10,000+ person enterprises in a wide variety of industries, including technology, finance, healthcare and government.

The rise and fall (and rise again) of ransomware

Outside of the rise of cyberwarfare threats, an old threat is rearing its head — ransomware. During the disruption of 2020, ransomware has surged with as much as 43% of infosec professionals reporting that they are seeing a rise in ransomware attacks.

What’s more concerning is that 70% of CISOs/CIOs and 63% of infosec professionals expect to see an increase in ransomware attacks in the next 12-18 months. This is of particular interest as 49% of CISOs/CIOs and 42% of infosec professionals are worried that a ransomware attack could wipe out the business in the next 12-18 months if they don’t increase investment in security.

But what is driving the rise in ransomware attacks? Some suggest it’s because more people are working from home — which makes them an easier target outside of the corporate firewall. The truth might however be tied to money.

59% of CISOs/CIOs and 50% of infosec professionals believe that the business they work for would pay the ransom in order to prevent its data/information from being published — making ransomware a potential cash cow.

A step change in communication is in high demand

Cyberwarfare and ransomware are complex topics to unpack, amongst many others in infosec. The inherent complexity of infosec topics does however make it hard to gain internal investment and support for projects. This is why infosec professionals believe a change is needed.

In fact, 51% of infosec professionals agree that in order to increase investment in cybersecurity, the way that they communicate about security has to change dramatically. This number jumps up to 55% amongst CISOs and CIOs — many of whom have a seat at the most senior decision-making table in their organizations.

The question is, what changes need to be made? 41% of infosec professionals believe that in the future more communication with the wider public and customers is needed so everyone, both in and organization and outside, better understands the risks.

In addition, 38% point out that there is a need for the facilitation of better communication with the C-suite, especially when it comes to understanding the wider business risks.

And last, but not least, as much as 31% of infosec professionals believe using less technical language would help the industry communicate better, so that the whole organization could understand the risks and how to stay protected.

“The reason that 63% of infosec professionals believe that cyberwarfare is a threat to their organization is easy,” said Neeraj Suri, Distinguished Professorship and Chair in Cybersecurity at Lancaster University.

“Dependency on technology is at an all-time high and if someone was to take out the WiFi in a home or office, no one would be able to do anything. This dependency wasn’t there a few years back–it wasn’t even as high a few months back.

“This high dependency on technology doesn’t just open the door for ransomware or IoT threats on an individual level, but also to cyberwarfare which can be so catastrophic it can ruin economies.

“The reason that nearly a quarter of infosec pros don’t currently have a strategy to protect against cyberwarfare is likely because of complacency. Since they haven’t suffered an attack or haven’t seen on a wide scale–the damage that can be done–they haven’t invested the time in protecting against it.”

Diversity, and specifically neurodiversity, is key to future success

Outside of the drastic changes that are needed in the way cybersecurity professionals communicate, there’s also a need to make a change within the very makeup of the workforce. The infosec industry as a whole has long suffered from a skills shortage, and this looks to remain an ongoing and increasingly obvious issue.

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