Gone are the days when companies could pass the headaches of cyber security to the IT department, as it has become more of a business issue too. This is especially important as businesses are more digitized, meaning they are exposed to an increasing number of threats if they do not manage the risk of security properly. While more Hong Kong businesses understand the value of shifting their mindset in cyber security from questioning if their business will experience an attack, to when will they be threatened and how will they respond, they still need to address cyber security as the business risk it is.
In Telstra’s recent Cyber Security report, data shows that 59% of Asian organizations experienced a business-interrupting security breach at least once a month. This comes down to the increase in digitization across the board. As we move towards digitization, the number and type of devices requiring enhanced security measures increase too. Mobiles, tablets, wearables and Internet of Things (IoT) enabled devices all fall short in the traditional approach of securing network perimeters by a firewall. Additionally, new technologies such as artificial intelligence and machine learning are providing attackers with enhanced tools for more complex attacks.