Cyber-Security Trends

Trends Analysis

In the past, cyberspace was confined to computer terminals with a limited dial-up connection. Now, we are connected to the Internet in unprecedented ways. In some respects, the line between cyberspace and real space is fast blurring. As the leaders of our industry, our company has long foreseen this trend and readily adapted our services to ensure their seamless use by customers on all platforms both online and offline. While we may be eager to continually push for greater interconnectivity for both our customers and partners, inherently we must be mindful to “expect that the size, severity and complexity of cyber threats [will] continue increasing”, as predicted by Steve Durbin (2014, as cited by Olavsrud, 2014). Thus, we have identified three key trends arising due to the increased interconnectivity, which our company will do well to identify and adapt as we have done before. These are, namely, the rise in frequency of cyber-attacks, the constantly evolving methods employed by hackers and the presence of a constant vulnerability due to the human element.

To understand the reasons for the increase in cyber-attacks, we have to discern the motives behind these attacks. As Nugent (2015) explains, cyber-attacks can be grouped into three categories; cyber-espionage, cyber-crime and cyber-terrorism. As organisations (both state and private) transition towards a more efficient paperless storage system, the amount of information and secrets stored online has been increasing exponentially. Consequently, many organisations turn to cyber-espionage in order to steal sensitive information to gain a competitive advantage (Fortinet, 2015). With the amount of personal information and business transactions readily accessible on the internet, more tech savvy criminals are turning to the internet to carry out their crimes to reap handsome profits while remaining under a cloak of anonymity (Lachow, 2013). Also, with many key industries and governments becoming highly reliant on the internet for their daily operations, many activist carry out cyber-attacks to disrupt or destroy their targets, making use of the cyberspace to further their own cause (Olavsrud, 2014). Therefore, as our company pushes for greater integration with technology and the internet, we must be wary of the greater exposure it creates for cyber-attacks, as it incentivizes all three groups to carry out their nefarious activities.

Hackers constantly evolve their attacks; their creativity (Fortinet, 2015), collaboration (Nugent, 2015) and immunity (Lachow, 2013) have been the key factors driving this trend. The huge profits earned through cyber-crime, as mentioned earlier, allows hackers to invest in research and development of techniques and technology (Olavsrud, 2014) to circumvent archaic security systems to further their illegal exploits. Furthermore, collaboration among hackers allows their community’s collective knowledge to grow (Fortinet, 2015) and has put them way ahead of the security systems at present. This problem is exacerbated by the reactive mind-sets of many organisations when it comes to cyber-security, where nothing is done until an attack occurs. This prevailing patchwork mentality leaves organisations chasing only after hackers have infiltrated their system and the irreparable damage is done. As mentioned by Lachow (2013), “new technologies roll out to meet market demand without good security built in and even well-designed products carry inherent vulnerabilities–the iPhone 5 was hacked within eight hours of its release” (para 9). Additionally, the nondescript nature of the internet means hackers are able to either remain anonymous or immune to local legislation by operating remotely (Olavsrud, 2014). Our company should avoid such a reactive mentality and adopt a proactive approach towards cyber-security. By being proactive, we can catch up with the evolving tactics of hackers and pre-empt attacks and at least protect our own interests by placing redundancies, even if we are unable to prevent these attacks.