The lessons learned from this past year teach us that no one is immune to cyber threats. The sooner corporate boards and executives come to understand that cybersecurity breaches are a very real and pervasive threat; then the hard work can begin to take preemptive measures and prepare an appropriate response and recovery strategy.
In 2016, businesses will continue leveraging transformative digital tools to better communicate and serve customers in more efficient, yet impactful ways. While these tools are transformative, they need to be deployed in a thoughtful and considered manner so as not to possibly put sensitive information at risk. Trust and credibility brand traits are able to withstand hacks only if businesses invest in response and recovery efforts as diligently as their investment in cyber protection.
So as 2015 comes to an end, we at Coalfire have released our annual predictions. This year’s selections are based on the fact that cyber attacks are getting bigger, uglier and costlier than ever before. They include:
More CEOs will step down or be fired post breach. Cybersecurity is no longer seen as an issue for IT departments to manage. Due to the potential for reputational, financial and legal damages, more C-level executives will be held accountable for the impact of data breaches. As such, corporate boards will scrutinize new CISO hires, more than any other C-suite positions.
Mobile comes further into focus. Mobile device management (MDM) and MDM providers will play a larger role with integrated cybersecurity strategies. The need to secure and manage risk in mobile devices comes as a result of increased use of cloud-based apps and the need to meet compliance standards, such as FedRAMP.
Cyber Insurance offerings become ready for prime time. There will be a larger uptake in cyber insurance as better and more comprehensive products become available globally. This gives C-level executives more ability to control and balance the cost of a breach.
Learn more about Coalfire's Cyber Risk Management solutions.
For more information about our 2016 predictions, read our annual announcement.