Data security trends to watch out for in 2021

With 2021 just around the corner, even though 2020 seems never-ending, no one would have predicted that 2020 would take us on such an extreme roller-coaster ride. The last seven months alone have produced more digital traffic than the past few years. With the year coming to an end, many organizations and employers are planning for whatever “new normal” will surface in the next few months. Some are struggling, making difficult choices to secure day-to-day and month-to-month survival, while others are contemplating upcoming trends that will affect operations, the economy, and markets for years.

Remote work has become part of this “new normal” and it appears to be here to stay. Apart from radically shifting the work environment where managers and employees interact, work from home has other major consequences- such as increased vulnerability to information breaches.

What does this mean for 2021? Will data security threats like ransomware and phishing attacks still influence headlines, or will 2021 witness newer threats that will take the lead? Only time will tell, but here are some key data security trends to watch out for in 2021.

Minimizing data access

A basic component of data security is minimizing data access. Employees should only have access to company data that is essential for their job role. This is the key to preventing breaches that are caused by accidental data loss and malicious data theft. According to GetApp’s Annual Data Security Report, companies allowing complete access to company data were more likely to be hit with a data breach compared to those that limited access. In the report, 50.7% of the companies that reported a data breach, in the last 12 months, allowed full access to company data, however only 12.6% in companies that limited access to data to their employees.

Multifactor Authentication (MFA)

Now more than ever, companies are increasing business online. MFA offers an additional level of security when accessing information online by verifying the user’s identity with an additional authentication method. In all likelihood, you are already familiar with the MFA process: you enter a username and password, upon confirmation, you must now enter an additional code that is delivered as an SMS, push, email, or authentication token. This is where the extra level of cybersecurity helps avert hackers from compromising user accounts and accessing sensitive information. 

Work from Home

When COVID-19 hit worldwide, hundreds, if not thousands, of businesses scrambled to put together an emergency remote working plan. Many companies are still in the process of adapting to this new reality and are gradually shifting to more flexible or more permanent work from home plans.

With employees spread across different offices, time zones, and sometimes continents, technological demands in terms of software, support, cybersecurity, and hardware are being reexamined. In a world where technology plays a vital role for companies to stay connected, support employees, and conduct business, more companies are taking a step back to reassess their current remote work plans and develop more permanent ones.

Phishing Attacks

According to the IBM X-Force Threat Intelligence Index 2020, 31% of data breaches in 2019 were due to phishing attacks. Experts are predicting that phishing activities will become even more prevalent in 2021. The report also concludes that the most mirrored brands in phishing activities were social media platforms. With this realization, companies are investing in developing security awareness programs and in anti-phishing protection platforms, such as IRONSCALES which can recognize and explain the emerging phishing patterns and habits of these attackers.

5G Security

The drive for more bandwidth has increased the need for 5G, the next-gen mobile and internet connectivity. 5G has been talked about for quite some time now, but it was not until the increase in remote work, video calling, and overall digital collaboration that it has become a central part of our lives in 2020. It is new, complex and requires a higher level of security. Today businesses cannot afford a disruption of 10 seconds online and 5G deployments have become a critical part of that solution. As we continue to work remotely, the demand for 5G will increase in the following years.

With the increased usage of 5G technology comes new security concerns. There may be difficulties to secure an advanced network of connected devices or even the possibility of witnessing large-scale Distributed Denial of Service (DDoS) attacks. Cybercriminals are always looking for new weaknesses to exploit. Considering these concerns, promoting a zero-trust network model along with product quality assurance can possibly be a solution between providers and technology adopters.

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