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Volume 32, Issue 2

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Thursday, 21 February 2019 17:01

10 Corporate Cybersecurity Predictions

What You Need to Know for 2019 – and Beyond

In the fast-moving world of cybersecurity, predicting the full threat landscape is near impossible. But it is possible to extrapolate major risks in the coming months based on trends and events of last year. Anthony J. Ferrante, Global Head of Cybersecurity at FTI Consulting, outlines what organizations must be aware of to be prepared.

In 2018, cyber-related data breaches cost affected organizations an average of $7.5 million per incident — up from $4.9 million in 2017, according to the U.S. Securities and Exchange Commission. The impact of that loss is great enough to put some companies out of business.

As remarkable as that figure is, associated monetary costs do not include the potentially catastrophic effects a cyberattack can have on an organization’s reputation. An international hotel chain, a prominent athletic apparel company and a national ticket distributor were just three of several organizations that experienced data breaches in 2018 affecting millions of their online users — incidents sure to cause public distrust. It’s no coincidence that these companies were targeted — all store valuable user data that is coveted by hackers for nefarious use.

These events and trends should serve as eye openers for what’s ahead this year, as malicious actors are becoming more sophisticated and focused with their attacks. Consider these 10 predictions over the next 10 months: