Data Breach Industry Forecast Offers Businesses Predictions and Advice

Data Breach Industry Forecast Offers Businesses Predictions and Advice

Experian’s Data Breach Resolution released its Data Breach Industry Forecast on Tuesday in an effort to help key business decision makers prepare against cybercrime in the year ahead.

  • By Jessica Davis
  • Dec 13, 2017

As technology becomes more ubiquitous, businesses face more cybersecurity concerns than ever before. Experian’s Data Breach Resolution released its Data Breach Industry Forecast on Tuesday in an effort to help key business decision makers prepare against cybercrime in the year ahead.

Based on Experian’s data and experience, they’ve forecast the following five data breach trends for 2018 and offered advice on how to prepare:

  1. The U.S. may experience its first large-scale attack on critical infrastructure, causing chaos for governments, companies and private citizens. Reportedly, 40 percent of industrial enterprises faced cyberattacks in the second half of 2016, and threats may continue to increase as hackers aim to create confusion and chaos. Public and private sector organizations need to make sure that they use the strongest technology available to thwart cyber criminals.  
  2. Failure to comply with new EU regulations will result in large penalties for U.S. companies. The EU passed the General Data Protection Regulation in 2016 and its scheduled enforcement date of May 25, 2018. The GDPR lays out strict requirements on the ways companies worldwide should process, store and secure EU citizens’ personal data. These requirements include some of the best practices companies should already have in place, and businesses should invest time and resources into them to avoid repercussions or damage to their reputation.
  3. Perpetrators of cyberattacks will continue to zero in on governments, which could lead to a shift in world power. With cyberattacks toward the British and Scottish parliaments in 2017 and the U.S. Democratic Party, it’s clear that hacking attempts to destabilize and disrupt governments and the like are growing in popularity. As governments take steps to further protect governmental processes, the private sector should work toward strategies for global business continuity in the face of data breaches.
  4. Attackers will use artificial intelligence to render traditional multifactor authentication methods useless. AI provides possibility for technology and security, but cybercriminals can use those capabilities to scan software to identify and exploit unknown weaknesses—in record time, making time-consuming hacks more efficient. Businesses should stay up to date on security technology available to protect personally identifiable information and ensure they use patented security technology to keep hackers out.
  5. Vulnerabilities in Internet of Things (IoT) devices will create mass confusion, leading to new security regulations. Consumer demand and use of IoT devices has increased, and with it, hacking opportunities. The interconnectedness of IoT devices makes them great target for advanced hacks and ransomware. Businesses using smart devices must consider IoT-specific risks in their response plans.

About the Author

Jessica Davis is the Associate Content Editor for 1105 Media.

Featured

  • Security Industry Association Announces the 2026 Security Megatrends

    The Security Industry Association (SIA) has identified and forecasted the 2026 Security Megatrends, which form the basis of SIA’s signature annual Security Megatrends report defining the top 10 factors influencing both near- and long-term change in the global security industry. Read Now

  • The Future of Access Control: Cloud-Based Solutions for Safer Workplaces

    Access controls have revolutionized the way we protect our people, assets and operations. Gone are the days of cumbersome keychains and the security liabilities they introduced, but it’s a mistake to think that their evolution has reached its peak. Read Now

  • A Look at AI

    Large language models (LLMs) have taken the world by storm. Within months of OpenAI launching its AI chatbot, ChatGPT, it amassed more than 100 million users, making it the fastest-growing consumer application in history. Read Now

  • First, Do No Harm: Responsibly Applying Artificial Intelligence

    It was 2022 when early LLMs (Large Language Models) brought the term “AI” into mainstream public consciousness and since then, we’ve seen security corporations and integrators attempt to develop their solutions and sales pitches around the biggest tech boom of the 21st century. However, not all “artificial intelligence” is equally suitable for security applications, and it’s essential for end users to remain vigilant in understanding how their solutions are utilizing AI. Read Now

  • Improve Incident Response With Intelligent Cloud Video Surveillance

    Video surveillance is a vital part of business security, helping institutions protect against everyday threats for increased employee, customer, and student safety. However, many outdated surveillance solutions lack the ability to offer immediate insights into critical incidents. This slows down investigations and limits how effectively teams can respond to situations, creating greater risks for the organization. Read Now

Most   Popular

New Products

  • Camden CV-7600 High Security Card Readers

    Camden CV-7600 High Security Card Readers

    Camden Door Controls has relaunched its CV-7600 card readers in response to growing market demand for a more secure alternative to standard proximity credentials that can be easily cloned. CV-7600 readers support MIFARE DESFire EV1 & EV2 encryption technology credentials, making them virtually clone-proof and highly secure.

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • PE80 Series

    PE80 Series by SARGENT / ED4000/PED5000 Series by Corbin Russwin

    ASSA ABLOY, a global leader in access solutions, has announced the launch of two next generation exit devices from long-standing leaders in the premium exit device market: the PE80 Series by SARGENT and the PED4000/PED5000 Series by Corbin Russwin. These new exit devices boast industry-first features that are specifically designed to provide enhanced safety, security and convenience, setting new standards for exit solutions. The SARGENT PE80 and Corbin Russwin PED4000/PED5000 Series exit devices are engineered to meet the ever-evolving needs of modern buildings. Featuring the high strength, security and durability that ASSA ABLOY is known for, the new exit devices deliver several innovative, industry-first features in addition to elegant design finishes for every opening.