Security Market Segment LS
Tuesday, 15 January 2019 00:47

CEOs to be 'accountable' for security breaches: LogRhythm

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CEOs to be 'accountable' for security breaches: LogRhythm Image courtesy of Stuart Miles at FreeDigitalPhotos.net

LogRhythm, the security intelligence company, has announced its top eight cyber security predictions for 2019, with one prediction that there will be a move this year to hold CEOs accountable for security breaches.

LogyRhythm's eight predictions for the year ahead include:

1. A cyber attack on an automobile will kill someone.

We’ve already seen hackers remotely kill a Jeep on the highway, disable safety features like air bags and antilock brakes, and hack into a car’s Bluetooth and OnStar features. As cars become more connected and driverless cars evolve, hackers will have more opportunities of doing real harm.

2. Cyber security programs will grow, but continue to lag behind the talent gap’s growth by at least 25 percent.

The  US Bureau of Labor Statistics anticipates available jobs for information security analysts will grow 28% between 2016 and 2026.  But since 2014, only 3.7 percent of American universities and colleges have met the requirements necessary to be recognised the National Centers of Academic Excellence in Cyber Defense Education Program (CAE-CDE). Unfortunately, we don’t expect the acceptance rate to suddenly increase, meaning cyber security program growth will lag behind the talent gap by at least 25% in the coming year.

3. Bio-identifiers will outpace traditional passwords.

Authentication using biometrics — especially facial recognition — continues to grow in popularity, and we don’t see this slowing down any time soon. Case in point: Apple has made passcodes completely optional starting with 2017’s iPhone X release, and it stuck to its decision with this year’s XS and XS Max releases. As ease of use remains a top priority for users, we’ll see traditional passwords decline in popularity.

4. The US will experience the “balkanisation” of cyber security regulations.

The US has been slow to enact cybersecurity legislation at the federal level. As a result, states have started taking matters into their own hands. In 2019, we expect an increase in cyber security legislation at the state level. And given the lack of consistency between resulting regulations, this will lead to greater challenges when it comes to interstate business operations.
 
5. Cloud-based ransomware will compromise a major corporation’s infrastructure.

Ransomware continues to grow in sophistication. In 2019, we believe we will see it successfully compromise a major corporation’s cloud infrastructure. The results will be devastating, impacting thousands of customers and resulting in a heavy loss of profits due to missed SLAs and fines.

6. China will use cyber espionage to manipulate the market.

China isn’t new to cyber espionage, with reports revealing their efforts cost the US upwards of US$300 billion annually. The US reacted earlier this year by imposing a US $50 billion tariff on Chinese imports. Given the economic impact of these tariffs, China is expected to leverage its cyber spies to give itself an advantage in the growing trade wars.

7. Trump’s cell phone will be hacked.

This has been said before, but with the president using an unencrypted phone to communicate with leaders of nations, this has to be a hot target. Just imagine what the potential impact will be – not to mention what we’ll see on Twitter.

8. We’ll see a move to hold CEOs accountable for breaches.

There are already regulations to hold people accountable (notably CISOs) for breaches. But as the pace and damage of breaches continues to quicken, we believe we’ll see these regulations begin to expand accountability to the CEO role.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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