Looking Beyond 2019: The Future of Cybersecurity & 2019 Recap
Ready or not, 2020 is right around the corner and 2019 will soon be in the rear view. When it comes to IT trends for 2020, we can guarantee that cybersecurity will continue to be a top priority for alternative investment firms (and for good reason!). Before we start talking about security in 2020, let's take a step back and take a look at some of Eze's most relevant cybersecurity articles in 2019.
With growing acceptance of the public cloud in the financial services industry, cloud security has become one of the most relevant topics for discussion. This blog outlines the most effective cloud data security strategies.
For firms looking to take a security-first approach, it's critical to regularly audit and evaluate their security strategies and risk profile and make amendments as necessary based on trends and technological advances. This blog outlines six questions to ask about your firm's cyber risk profile.
The Capital One data breach stole headlines as perhaps the largest cybersecurity incident of 2019, affecting over 100 million customers. Part 1 of the series outlined how the incident unfolded and covered security tips for financial services firms. Part 2 of the series examined how using a tool like SIEM would have been highly beneficial in the particular situation.
This blog is a great summary of top threats facing alternative investment firms in 2019, and provides actionable tips, technologies, and training measures to protect sensitive data. It also includes a link to our latest guidebook, "20 Steps to Create a Cybersecurity Framework", which is a comprehensive tool for firms of all sizes and risk profiles based on the 20 CIS Controls.
Now that we've looked back on the best of 2019, what's in store for 2020?
As we head into a new decade, here are the expected cybersecurity threats and trends in 2020:
Threat actors capitalizing on human vulnerabilities: It is expected that hackers will continue to use phishing and other social engineering techniques to penetrate gaps found in the "human firewall" of alternative investment firms.
Tools like SIEM gaining traction: With all of the security tools and technologies available and utilized by firms, the number of alerts, logs and data available is growing exponentially. Tools and technologies like SIEM help centralize and decode these alerts, notifying firms of which threats are significant and require attention.
Public cloud gaining traction: As previously mentioned, the financial services industry is increasingly accepting the use of public cloud. While a fantastic tool to perform everyday business functions, public cloud usage requires the right layers of security, including a combination of tools, technologies, and training to ensure data is safe.
Existing vulnerabilities: According to predictions from Gartner, in 2020 99% of threats to data security will be from existing vulnerabilities already known to an organization. Having a trusted security partner to perform a vulnerability assessment and make recommendations based on findings can help mitigate risk and prevent attacks.