Throughout the course of the US presidential election, there were significant concern around cybercriminals like nation state or hacktivist. At a time when political ideologies are heavily dependent on electronic means to recruit and spread information, DDoS attacks using IoT devices will become the weapon of choice for disrupting operations.
As a result of mergers, acquisitions and other partnership arrangements, healthcare insurers and providers are only increasing in number. These organizations will have a pool of critical patient information in the form of genetic markers, biometric data for malicious attackers perpetrating ransomare, blackmail and espionage.
A large number of firms are developing IoT firmware with open source components as a means to reach market faster. However, many are delivering these solutions without good update plans, making them more susceptible to vulnerabilities that security teams cannot immediately fix. Fleet management in transportation, security and surveillance apps with government are some of the domains that will be more prone to attacks.
With limited internal resources, chances are that CISOs will seek the help of external services and automation tools. It is estimated that both security services and automation will combine to consume 25 percent of the security budget in 2017. This combined spending will include security outsourcing, managed security services, security consultants and security automation technologies.
Broader connectivity and growing investment will create new implications for devices, data and corporate resilience. IoT, combined with cloud and BYOD will alter the fundamental planning on resilience. Targeted espionage, ransomware, IP theft, denial of service and privacy breach will have larger implications for enterprises. In 2017, it is likely that a Fortune 1000 company will perish through bankruptcy, acquisition or regulatory enforcement with its root cause being a cyberattack.