5 data security trends to watch out for in 2020
We’ve watched data security change in 2019, but what will 2020 bring? More of the same, or will new trends and patterns emerge? Alice Marchant, account manager at Octopus Group, looks at recent research reports (So you don’t have to!), and identifies 5 key trends for businesses to watch out for in 2020.
1. Cybersecurity is a business issue
Cybersecurity is taking centre stage in boardrooms around the world.
Business leaders historically lacked full awareness and understanding of the risks posed by cybersecurity, leading to a lack of funding for much-needed data security programmes.
However, that’s changing. This year we’ve seen greater awareness among board members and the IT community, leading to an increase in funding for this vital area. Research carried out for security solutions business, Optiv, in July 2019 found that 9 in 10 businesses have access to greater funding for their cybersecurity programmes because the board has a better understanding of the problem at hand.
The tide is turning. Businesses are beginning to prioritise cybersecurity, and it’s moving from an IT issue to a wider business issue that can’t be ignored.
2. Technology alone can’t protect against insider threat
Data breaches due to accidental or non-malicious actions of employees have been the most common type of data breach for the past few years, and it’s likely that won’t change in the near future. Half of data breaches in 2017 were employee-related, and it’s likely that even more suffered a breach due to employee access last year.
One wrong click by an employee could have detrimental effects on the security of the data they’re handling. Therefore, it may not come as a shock to you that only one-third of businesses have complete trust in their employees.
Educating employees is key for businesses to be able to prevent cyber-attacks, and leaders know and believe in the importance of employee education programmes. Amid cyber security hacks from external sources, businesses can’t afford to ignore the risks their own employees pose.
3. Internet of Things (IoT) is the latest threat to cyber security
It was estimated by research company Gartner, in 2017, that the number of connected devices across the globe would reach 20bn by 2020. But as the number of internet-connected things grows, so too do the pathways that give hackers the ability to conduct cyber-attacks. The introduction of 5G brings tremendous capabilities, but there is concern around the impact it will have on data security. In fact, research by professional services firm Accenture shows that one-third of business decision makers are hesitant towards 5G adoption because of fears around security.
4. GDPR continues to impact businesses
GDPR regulation had a tremendous impact on the ways in which businesses handle their data. Data protection now drives policies and procedures.
As May 25, 2018 loomed, businesses were under a lot of pressure to make sure they were fully compliant with the new data protection laws. But the work didn’t end there – meeting GDPR standards is an ongoing process. Two-thirds of businesses say that GDPR compliance continues to affect them, and it’s likely that it will continue to do so.
5. More people embrace voice tech, but security fears are a barrier
Voice tech is fast becoming a staple in people’s lives. Nearly two-thirds of consumers use it – whether in their home, at work, or out-and-about – and this number is expected to grow over the next 12 months.
However, many still do not believe that voice-controlled devices are secure, so it’s hardly surprising that one-third of consumers will not use voice-activated tech to make payments. For more consumers to feel comfortable using voice tech to make or confirm payments, the security problem must be solved.
The introduction of 3DS2.0 in 2019 means that two-step authentication has become an industry standard for banks authenticating online payments. As well as biometrics, you now need to enter a password, or confirm the payment via a code on your mobile device. Could this extra layer of security be the answer to the worries surrounding voice tech and payment? Only time will tell.