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BAE Systems Cybersecurity 2017 predictions

By Barry Johnson, Country Manager (Malaysia), International Services & Solutions, BAE Systems Applied Intelligence

“In the battle for talent and the need to get more out of scant cyber resources, leaders will increasingly turn to gamification to engage with their teams and supercharge innovation.”

“In 2017, the volume of personal data being stored and shared throughout the private sector, and between government departments, will continue to increase.  As this happens, data privacy will become an increasingly critical discussion topic as the public starts to comprehend how their data is being used, and there will be a continuing tension between privacy and a frictionless customer experience.”

“We predict 2017 will see the end of the age of innocence for senior business leaders and boards faced with cyber attacks; we will see more executives being held to account for security failures. No longer can any internet-connected system be expected to be 100 per cent secure, and no longer can businesses get by without proper investment in cyber defence. However, companies will also realise they needn’t view security and privacy as a compliance burden, but as an opportunity to win the trust of their customers and differentiate themselves in the market.”

“Just as we have agreed measurement standards for the health of the economy or vital services like education, we predict 2017 will see cyber security readiness measured in a more standardised way in a growing number of countries, and in a more all-encompassing manner; across more industries, threat vectors and data points. What that measurement looks like is a question industry, government and the wider business community must work out together.”

“As malicious cyber attack culprits like criminal gangs, activists and state sponsored hackers team up on specific jobs, it will become harder for white hats and investigators to identify the motivation and source of attacks.”

“The SWIFT attack was a proof of concept for criminals, and as a result institutional payments will be a growing attack vector through combined cyber and fraud attacks. Traditionally, the retail payments channels have been pretty well-protected with detection tools, but the SWIFT heist illustrated that all payment types, including those used by corporates and internationals, are at risk, including wholesale, corporate and institutional banking channels. The modus operandi could be the insider, malware, social engineering, hijacked email instruction, man in the browser or identity theft. Luckily, banks are switching on to this shift and moving from solely financial crime intelligence units to include information security, and are hiring people to look after cyber risk in corporate institutional divisions.”


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