Forecast for 2018: Prepare for More Hacking Incidents

2017 has been a year of one ransomware after another. Hacking has never been more profitable then this year. With the rise of ransomwares “WannaCry” and “Petya” in the USA, hackers were able to manifest their rising power in manipulating the industry.

Cybersecurity should be given more attention to help keep a business’ significant data safe due to the increased severity of threats. Unfortunately, more data breach is foreseen in 2018 .

Based from the data gathered, there is a 3% increase in the prevalence of ransomware cases in businesses in 2017 compared to the previous year. Businesses have been a common target of ransomware since they are easier to threaten with the safety of their files.  Their business cashflow is at stake, once the data has been compromised, that’s why it is imperative for the business to pay the ransom. Unfortunately, reports have shown that some businesses fail to recover their files even after paying the ransom.

Despite the absence of a federal data protection law, the United States enacted regulations for companies to implement their specific data protection policy. Meanwhile, the European Union’s General Data Protection Regulation will not only be implemented to residents of the EU by May 25, 2018 but its jurisdiction has been stretched out to companies who offer services to people from EU. Restrictions for consent will be implemented, whereas the owner should first allow a third party to handle his/her data.

Data breach incidents revealed the importance of MSSPs. Protecting data is as important as monitoring the overall system of a company.

Managed Security Service Providers (MSSPs) are more essential than ever as they equip their client with full security services such as disaster recovery plans and back up assistance. Day-to-day backup assistance assures businesses that they can keep their important files safe.  MSSPs resolve the ransomware infiltration through various products and solutions that they are subscribed to such as Advanced Threat Protection and Microsoft Windows Defender.

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