Banks need to adopt a proactive approach to security. Increase of digitization in the banking & financial industry has increased its exposure to cyber-attacks. With digital channels becoming the preferred choice of customers, BFSI sector has to leverage advanced authentication and access control processes. Ongoing threats to IoT devices will compel banks to tighten security, including patchable firmware/software, secured authentication and controlled privilege access.
Large-scale healthcare data breaches has already impacted millions of individuals. The digital revolution in the healthcare industry demands a security-minded organizational culture. Emerging technologies including AI (Artificial Intelligence) and IoT (Internet of Things) are now being used to speed up diagnoses and improve patient care. It is key to deliver trustworthy security for patients and professionals, supporting a safer environment.
Retailers need to mobilize quickly and take steps to address the IT and data security deficiencies and protect critical data assets. By using analytics-based security tools retailers can scan incoming data and resource requests to identify and report anomalous behaviour. Network defence must also be monitored at different access points instead of a single parameter. It’s essential to safeguard personal customer data – login, banking details and home addresses.
Telecom industry faces stringent legal and regulatory information security requirement. Telecom providers need to integrate cybersecurity measures into network hardware, software, applications and end-user devices in order to minimise the risk of a serious data breach. By extending the IT security network to third party organizations, telecom industry can mitigate and prevent risks.
Modern manufacturing IT network has multiple pieces of critical infrastructure connected to each other. Hence there is a lack of adoption of basic security principles. Recent advance in the Industrial Internet of Things (IIoT) (the use of sensor data and machine-to-machine communication in manufacturing) allows manufacturers to identify inefficiencies and utilize business intelligence insights.
Ubiquitous nature of government information makes it vulnerable to security attacks. Government is pursuing various longer-term initiatives to ensure the development of security skills. The budget on cybersecurity measures are gradually increasing. Response plans are being implemented to deal with any security breaches as quickly as possible.