In today’s increasingly digital world, protecting your business against cyber threats is more important than ever. These threats show no signs of letting up. With cyber attacks becoming easier and cheaper to execute, distributed denial-of-service (DDoS) attacks, for example, have become more prevalent in recent times. There is no need to intrude or gain access to a network to launch a DDoS attack, making it a hit-and-run type of attack that can happen without warning. In fact, we have already seen DDoS attacks peaking above 71 million requests per second, the largest ever recorded this year.
The global business community is facing significant cyber risks that warrant attention. In the first quarter of 2023, over 140 billion cyber threats were mitigated worldwide on average per day. With the surge of digital transformation initiatives and the continued hybrid work trends, there is an increased urgency for businesses to strengthen their defenses against these complex cyber attacks.
It is encouraging to see the investments progressively being made to tackle cybercrime. According to IDC’s latest Worldwide Semiannual Security Spending Guide, spending on security hardware, services, and software globally will reach $219 billion in 2023, up 12.1% from the previous year.
The Zero Trust approach has increasingly proven to be an effective way for organizations to bolster their cyber security defenses. Founded on the principle that nothing is trusted until verified, this approach considers all users and devices as potential threats. It implements continuous monitoring and verification to ensure the security of sensitive data and prevent breaches.
Incorporating the Zero Trust approach into an organization’s security framework can strengthen network protection and enhance data security. This is particularly beneficial in heavily regulated industries such as finance and healthcare. For example, it helps companies comply with strict data protection regulations by restricting access to sensitive data to authorized personnel only.
Zero Trust security may also pose challenges for businesses including; a reliance on existing cyber security measures, difficulty in securing executive buy-in, and a shortage of skilled personnel to implement a Zero Trust strategy.
To overcome these hurdles, companies can consider partnering with cyber security specialists or managed service providers. These providers can assist IT and Security with implementing Zero Trust security measures, providing technical support, and continuous monitoring of their IT infrastructure. This allows IT to focus on business growth, maintain regular operations, and product development. Additionally, many providers offer scalable solutions, which can be particularly advantageous for businesses lacking the resources to invest in a comprehensive Zero Trust security strategy.
To successfully implement the Zero Trust security model, organizations can consider appointing a designated leader, such as a Chief Zero Trust Officer (CZTO), who can oversee the implementation and adoption of the strategy. Having an articulate leader and defined accountability reduces the likelihood of roadblocks during implementation. The CZTO can effectively structure teams and remove obstacles to ensure a smooth rollout. Introducing the CZTO role in the C-suite further reinforces the importance of Zero Trust within the organization and ensures that the initiative receives the necessary attention and resources to succeed.
Additionally, businesses may encounter resistance to change during the implementation of a Zero Trust strategy. Leaders should set an example by embracing the change, actively involving employees in the process, addressing concerns proactively, providing support, and offering upskilling opportunities. If the goal is to spark an organization-wide culture shift, the first step must come from the top.
The increasing dependence on IT systems has made cyber security a top priority for organizations. Zero Trust, with its associated continuous monitoring and verification, can provide organizations with a robust defense to safeguard their sensitive data against potential threats.
As organizations continue to accelerate digital transformation, it is imperative for businesses to embrace new and effective security models like Zero Trust. This approach will greatly help them better protect themselves and their customers, comply with prevailing regulations, and establish a strong foundation for growth and success in the digital age.
This article is part of a series on the latest trends and topics impacting today’s technology decision-makers.
This article was originally produced for Frontier Enterprise
After reading this article you will be able to understand:
That cyber attacks have become easier and cheaper to execute
On average, 140 billion cyber threats are mitigated each day
How Zero Trust has proven effective at hardening defenses