Company cites outsourcing, privacy regulations and more targeted ransomware attacks as other challenges facing security teams in 2021
HAWTHORNE, NJ, November 2, 2020 — Stealthbits Technologies, a cybersecurity software company focused on protecting an organization’s sensitive data and the credentials attackers use to steal that data, today unveiled its predictions on what security teams will face in 2021. The company believes that fueled by the pandemic, next year will see organizations challenged by unpredictable events with potentially severe consequences, often referred to as “black swan events.” Stealthbits cites a resurgence in outsourcing to meet security needs, the continued struggle to adhere to a growing list of global privacy regulations and a twist on ransomware targets as other hallmarks of the year ahead.
“The events of 2020 forced organizations to do things they weren’t necessarily ready to do to support a remote, global workforce,” said Jim Barkdoll, CEO of Stealthbits. “As a result, security teams are playing a high-stakes game of whack-a-mole, as they are forced into the almost untenable position of force fitting what they have to meet new challenges without the time, budget or resources to properly execute it. Whether it is digital transformation, cloud adoption or adhering to privacy regulations, we believe 2021 will see global organizations grappling with what the next attack will be and where and how it will hit.”
Stealthbits predicts that the inevitability of a Black Swan event in security will be impacted by the following in 2021:
In 2020, ransomware breaches moved away from locking your environment, toward data breaches and demanding payment to prevent bad actors from leaking information. In 2021, ransomware will not only become more advanced, it will adapt to target the new data stores in SaaS and cloud.
As the world faced a global pandemic, enterprises were forced into a corner, acting quickly to extend their perimeters to accommodate a remote workforce. In 2021 organizations must move quickly to control the new perimeter they jammed into place in 2020. Moreover, organizations will be forced to either address all the gaps in their technology architecture resulting from missed or skipped steps for the sake of expediency, or face breaches as threat actors will quickly identify and capitalize on these vulnerabilities.
As awareness of Data Privacy becomes more mainstream, this will put more pressure on organizations to respond faster than they have previously. If you look at documentaries like The Social Dilemma by Netflix, or cinema-like shows like Identity Thief or UK-produced thriller, Black Mirror, privacy is permeating pop culture. This mainstream shift will drive more accountability through organizations and in turn, their vendors, to become more compliant.
In the next three years, 65% of the world’s population will be living in countries that demand personal data privacy protections for their citizens. That’s up from just 10% this year, according to a recent study by Gartner. 2021 will see an increase in compliance failure and regulatory fines. Even if every organization takes action to implement strategies to address the growth in regulations, it takes time to achieve any effectiveness. Organizations will acknowledge a data breach and/or compliance fine as a cost of doing business.
Rapid cloud adoption and the acceleration of digital transformation initiatives have been the hallmark of 2020 for many organizations. While these initiatives are significant, the pace in which SaaS evolves makes it incredibly difficult for existing security resources to keep abreast of capabilities – it’s creating a new level of skills gap. Cloud experts are challenged to keep pace with the rate of change and that introduces risk.
The acceleration of aggressive cloud adoption and digital transformation combined with the skills gap mentioned above means MSSPs will struggle to meet the demands of the market and keep the security promises to their customers. The increasing demand to secure newly adopted infrastructure results from the same challenge that faces many organizations: you simply can’t hire or train fast enough to keep pace with the demand.
About Stealthbits Technologies
IDENTIFY THREATS. SECURE DATA. REDUCE RISK.
Stealthbits Technologies, Inc. is a customer-driven cybersecurity software company focused on protecting an organization’s sensitive data and the credentials attackers use to steal that data. By removing inappropriate data access, enforcing security policy, and detecting advanced threats, our highly innovative and infinitely flexible platform delivers real protection that reduces security risk, fulfills compliance requirements, and decreases operational expense.
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Madison Alexander PR
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