In a recently held event hosted by RAH Infotech, IT industry experts came together to discuss the 20 threats each CEO should prepare for by 2020 and how to combat the ever challenging cyber security issues.
Speaking at the event, the guest of honour Pavan Duggal, Chairman International Commission on Cyber Security Law & Advocate, Supreme Court said “Data is the most critical component of any business and securing it should be the first priority. Ransomeware is just the tip of the iceberg. Organisations must brace up for more powerful attacks with cyber criminals finding smarter ways to break into any network.”
He further added “DDoS attacks can be rampant in future. They can impact organisation’s business in a big way. It will not only result in loss of revenue but loss of customer trust. Cyber Security is ever more important for banking sector as transactions worth millions of rupees occur every single day. Govt. of India has put forth certain guidelines and those who adhere to these guidelines are protected by the law. Failing to adhere could lead to imprisonment and heavy penalty.”
Amit Malhotra, VP, Sales India, Middle East & Africa, Seclore shared “The free flow of information at an unprecedented speed will warrant a paradigm shift in the InfoSecurity community, who will be unable to assure the security of data as it moves across and outside of corporate boundaries. Instead, the InfoSecurity teams will shift their focus to securing the data itself, striving to achieve persistent security through solutions that control granular usage policies, regardless of where the information resides. Data-Centric Security Solutions will become an InfoSecurity fundamental, joining the ranks of Anti-Virus and Firewall Technologies.”
Nikhil Taneja, Managing Director - INDIA & SAARC, Radware, said “Over the past few years, digital technologies have rippled through the business world and unleashed unprecedented innovation and disruption. Yet, at the same time, attacks are becoming more insidious and sophisticated. Phishing, spear-phishing, whaling, ransomware, hacking, hacktivism and corporate espionage are now mainstream problems. Data breaches and DDoS attacks are a daily concern. As the most networked nation on earth, India is extremely vulnerable. Perry4law, a world renowned techno legal firm believes that Cyber Security Infrastructure in India could still be at nascent stages and Indian Cyber Security Infrastructure must be urgently “Strengthened” so that sophisticated Cyber Attacks can be suitably managed in India.”
“It's time we educate our customers to focus more on understanding business and technology intersection points and how they introduce risks at various levels from application security to APIs and network design to clouds. It's time we made them understand what the year 2020 will hold for them and how we can better prepare to tackle cyber security challenges the future will unleash. This event was one such effort in that direction”, said Suchit Karnik, COO, RAH Infotech.
During the course of the event, team Radware (one of the partners of the event) held a role play where one of them emberacted as a customer considering Cyber security solution (DDoS) and other was Radware representative answering all the queries the customer had. Through this act, they tried answering questions which are very crucial to choosing the right solutions but many a times don’t get asked or answered.
The event title and theme were strategically chosen to coincide with the on-going IPL 20:20 for better recall value. At the core, the event was all about “Educating customers regarding current threats and how their spread can impact businesses and what solutions are currently available and the need gaps.
The following 20 big security threats to brace up for by the year 2020 were identified and acknowledged by experts during the course of the event:
- Mobile Security
- Vulnerabilities exploits (Exploit kits)
- Cloud Security (network firewall, secure web gateway, WAF)
- Advanced Persistent Threats
- IoT Malware & Next generation of Artificial Intelligence powered attacks
- Destructive DDoS IOT attacks
- Insider Threat
- Business Email Compromise Attacks & Business Process Compromise
- Exploitation of infrastructure-as-a-service (IaaS)
- End point threats
- Botnet of Things, Ransomware of Things (RoT) & Ransomware as a Service (RaaS)
- Data breaches and Data theft
- Identity Theft and Access Management
- Hacktivism, Web Exploits, Phishing & Whaling
- Online Financial Service Attacks (SSL & TLS) - Radware
- Attacks on critical information infrastructure
- Shadow IT, Zero-day exploits & Cyber-espionage
- Cloud computing providers’ infection
- Web App attacks