Organizations to Witness Increased Information Security Breaches in 2016, Predicts iSheriff

By CIOReview | Thursday, January 7, 2016
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REDWOOD SHORES, CA: Information Security continues to be a growing issue for organizations worldwide. In 2015, countless number of organizations, both public and private, were attacked by data breaches and the trend is expected to continue this year. iSheriff, a cloud based enterprise device security platform, has released five information security threats that needs to be addressed by companies in 2016.

iSheriff predicts more Point-of-Sale (POS) device breaches in 2016 as hackers will find it easy to exploit EMV card terminals. The EMV card terminals were launched with a motive to offer protection against card-related financial fraud, but in reality, they have not offered much protection than the earlier POS systems. As a result, organizations will have to strengthen their POS systems by eliminating problems with weak passwords and third party access vulnerabilities in order to withstand pressure from hackers. Another information security threat that will concern organizations, according to iSheriff, lies in the BYOD front. Adopting BYOD without employing sufficient verification procedures will lead to serious security concerns. Organizations should device a way for engaging its employees through BYOD whilst promoting responsibility and awareness among its employees.

iSheriff forecasts that in 2016 businesses will be the victims of security infringements regardless of their size or brand value. Though breaches in big multinational organizations will garner attention, small businesses are also likely to fall prey to hackers. Therefore, it is critical for every business, whether big or small, to have a strong firewall against malwares and hackers. Furthermore, in 2015, there were about 992 CryptoWall complaints reported on ransomware estimated at a total loss of 18M US Dollars, according to the FBI. As hackers continue to develop new viruses that are hard to detect or decrypt, it is sure to create more headaches for organizations going into 2016.

Finally, as organizations shift towards open APIs and integration frameworks, the traditional security approaches will no longer be enough to tackle the challenges arising from a mobile workforce, infrastructure complexity, and interconnected supply chains. "While cyber security has gained some long awaited traction and momentum in 2015, it is not yet time to celebrate a job well done. As quickly as new security mechanisms are being developed, cybercriminals are cultivating new techniques to bypass them," said Oscar Marquez, CTO, iSheriff. "It's important for businesses of all sizes to take time to thoroughly assess their organization's ability to defend its data, networks, employees, and customers. Every business should resolve to strengthen cyber security capabilities over the next year."