Perfect storm for security leaders

The digital world of 2022 might be fast-paced and ever-evolving, but it’s also a prime playground for increasingly more successful cyber attacks. The global pandemic and the subsequent rise of remote working has created a ‘perfect storm’ for security leaders. Additional security measures have been required to manage the epic growth of data being shared in the virtual workplace, pushing security teams to the brink to keep up with the demand for secure data exchanges. Add to that the rise in cybercriminals, attempted data and supply chain breaches and ransomware attacks, making online security become top of mind for many global organisations.

It’s no surprise then, that Splunk’s State of Security 2022 report dubbed “pressure” as the key theme of the research — the pressure of ever-prevalent cyber attacks, the pressure to source and retain security talent in a dwindling labour pool, the pressure to respond to the rise of hybrid work flows and the pressure to ensure security measures are in place to protect data.

Traditional attacks on the rise

The pressure to ward off attacks has reached a critical level over the past 12 months. Of the security leaders surveyed as part of this year’s report, nearly half (49%) said they’d suffered a data breach over the past two years, up 39% on last year. Additionally, one in two (51%) said their business email had been compromised and 79% reported they’d encountered ransomware attacks. The figures are startling, particularly as the attacks are becoming more sophisticated and are occurring at a time when sourcing highly skilled talent is at an all-time low, and the pandemic has made securing digital networks trickier than ever.

It’s a sobering reminder for organisations that a “good offence is a good defence” when it comes to cybersecurity, but it comes at a cost. Yes, security teams are detecting more breaches, but they’re having to work a lot harder to overcome the more sophisticated nature of the attacks, and to remedy the effects. Nearly 60% of security teams surveyed said they’d had to devote significant time and resources to remediation, with 44% saying they’d suffered disruption to business processes and the loss of confidential data as a result. And then there’s the downtime — with the average cybersecurity incident costing 14 hours of unplanned outages, at about $200,000 an hour, the average cost of downtime tied to cybersecurity attacks is a whopping $33.6 million per year. These rising costs are driving organisations to ensure they prioritise security measures, including understanding and implementing highly secure cloud infrastructure, able to withstand attempted breaches.

The importance of cloud integrity

In the coming years, security teams must have a complete understanding of, and visibility into, their cloud infrastructure. Software must be accessible, while also being able to withstand vulnerabilities in an ever-changing environment. It’s a challenge for many, particularly striking a balance between the need for consistency across data centres, ensuring monitoring and auditing tools are adequate, while keeping up with the general day-to-day security needs of multiple people accessing the software.

As remote working continues, cloud computing will become more commonplace. And with 41% of workers projected to continue working remotely in the coming year, it’s an issue that isn’t going anywhere. Organisations must dedicate time and training to understanding the complex interplay of their public, private and SaaS solutions. A clear, comprehensive approach will help organisations navigate the often confusing world of the cloud, combining high-level technology with cross-team collaboration and education.

Addressing the talent crisis

Finding a solution to the ongoing security talent crisis will also be critical. Australian security leaders face a potentially self-perpetuating labour shortage, with 85% saying it has become harder to recruit and retain talent over the past 12 months, thanks to drastically increasing workloads.

And the strain is having a serious effect on Aussie security workers, with one in five (22%) considering leaving their job due to the stress associated with staff/skill shortages. The figures are direr globally — 73% of organisations said workers had resigned, citing burnout, while 76% said team members had been forced to take on responsibilities they weren’t ready for. As the effects of the Great Resignation take hold across the sector and employees continue to up stumps en masse, the talent crisis could become a long-term, self-perpetuating problem.

So, what is the solution? For many, the focus seems to be on increased training opportunities, while also turning to AI to fill the gaps. Many organisations will prioritise staff training and traditional recruitment in 2022, while also looking outside the box to retain and attract workers, including turning to alternate candidate pools, upskilling people with experience in non-security IT roles. Additionally, automation will become more important, particularly while the sector grapples with the labour shortage. Automating with the intention of allowing human analysts to be more productive and creative will help minimise burnout, allowing workers to focus on acting on significant events, rather than filling in spreadsheets.

Image credit: ©stock.adobe.com/au/NicoElNino