A new approach to Data security for the New Year
Changes in the workplace, geopolitical factors, and changing business requirements are just a few of the reasons that data security is a fluid reality that constantly takes on new forms. With so many new variables to consider, the question becomes: how do you efficiently keep your business productive and secure? The short answer is to concentrate on two aspects: identity and data. Consider this: every employee, customer, or contractor who joins a company has a digital identity, and all of these entities consume, produce, transfer, and transport data. Your organization should be laser-focused on identity and data in 2023, and the technologies that secure these elements will need to evolve.
Remote/Hybrid working model – Increases the risk of accidental exposure: Unfortunately, a remote/hybrid work model introduces a slew of new risks to corporate data. Many businesses try to address this by imposing stringent restrictions on company-owned devices, but this does not eliminate such threats: If the user has no restrictions on their business device and is able to mix work and personal activities, they may unintentionally share sensitive company information through these platforms. However, suppose you prohibit users from using private software and/or social media on company devices. In that case, they will be more likely to transfer data between their personal and work computers using, for example, USB drives or transferring information using private and company email addresses or private cloud storage. Whatever solution you choose, you must accept that your employees are no longer under your direct control and frequently mix work and personal life. The increased risk of accidentally exposing sensitive data in a remote/hybrid work model necessitates the use of Data Loss Prevention (DLP) solutions, which must focus on end-user activities. As a result, we can anticipate DLP solution growth trends focusing on end-user devices.
Recession means more opportunities for data breaches: Nobody predicted that right after COVID-19 sunsets, we’d face another financial crisis and stalled market growth. We are in the early stages of a major recession, and its long-term effects on businesses are difficult to predict. We already see mass layoffs in both large corporations and small and medium-sized businesses. This also implies that more businesses will be willing to go above and beyond legal and ethical to gain a competitive advantage. This is where a well-implemented DLP solution can provide early warning of internal and external threats that could lead to data loss. Businesses may need to shift their focus from accidental data loss to intentional inside threat actors and attacks like spear phishing in 2023. DLP solutions must function as an early warning system for any type of suspicious activity by remote/hybrid employees and a lifebuoy for targets of well-planned attacks. It will also help to avoid the consequences of well-planned spear phishing attacks from criminal organizations.
Compliance entails increasing requirements in response to growing threats: Industries where data is critical, such as healthcare and finance, as well as military/aerospace, are already facing a slew of compliance requirements, necessitating the use of DLP solutions. However, as threats and risks continue to evolve, compliance practices are expected to further ensure the security of sensitive data. What is now open to interpretation in cybersecurity compliance standards may soon be stated clearly, rushing organizations to adopt specific solutions such as DLP. DLP providers, on the other hand, DLP providers should be prepared to adapt to any new standards that emerge, even in currently unregulated industries.