Top 3 Security Threats for 2015

Notable data breaches throughout 2014 have solidified data security as a necessity for businesses taking things seriously in 2015. A report released by Experian details the predicted top data breach trends in 2015 for industries across the board.3 (3)

Experian took into consideration the predictions and experiences of more than 3,000 companies that are taking threats seriously and investing in security infrastructures equipped to deal with the realities of the new cyber world.

Below are three of the top six concerns as businesses move into the new year:

Increased threat for healthcare breaches. The healthcare industry is on the hit list for cyber criminals in 2015. According to the report, the growing number of access points to protected patient information via electronic medical records makes the industry a real target. The potential cost for those data breaches in 2015 could climb as high as $5.6 billion.

In April, the FBI sent out a warning to the healthcare industry, claiming that the systems’ overall cyber security was lax compared to other sectors.

“The healthcare industry is not resilient to cyber intrusions compared to the financial and retail sectors, therefore the possibility of increased cyber intrusions is likely,” the FBI stated in a letter to healthcare providers.

A shift in accountability. The upcoming year could mark a turning point in corporate management of data breaches. While IT departments were previously considered to be solely responsible for protecting against and reporting data breaches, the responsibility is beginning to shift to C-level executives.

“Looking ahead, senior executives will be expected to have a better understanding of the data breach response plan, comprehension of new technologies and security protocols in the workplace and have a clearly-defined chain of response should a breach occur,” the report states.

On a whole, industries have a long way to go before this becomes a reality. According to a Ponemon Institute report, just 17 percent of C-level executives were aware of whether their company had been subject to a security breach.

Ignoring employee threats. Corporations have begun to comprehend the need for protections against cyber criminals operating outside company walls, but many are still missing the mark when it comes to protection from within.

According to Experian, employees, whether through negligence of malicious intent, are the leading cause of security breaches. Raytheon reported this year that insider attacks amount to $348 billion a year in corporate losses.

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