The company's goal is to raise awareness of the increasing cybersecurity risks for companies in Industrial IoT, explained Björn Haan, Managing Director of TÜV Rheinland's Cybersecurity Germany business unit. The company identified the areas with the greatest risks and opportunities and analyzed their effects on the increasingly connected world. "We looked at ways to protect ourselves from ‘smart’ cyber attacks and what we should do to close the skills gap in a world hungry for cyber-security talent but overwhelmed by vast amounts of data," Björn Haan explains. The report is based on a survey of leading experts in cybersecurity and the input from customers in Europe, North America and Asia.
Trend 1: With the growing number of global regulations in the cyber environment, the costs to protect privacy are increasing.
Data protection is a critical aspect in an increasingly digital world. 25 May 2018 represents an important milestone for data protection in Europe - from this date the EU's General Data Protection Regulation (GDPR) will come into force. The regulation represents a fundamental change in data governance and the way information from companies processing personal data of citizens is protected. The regulation marks the beginning of growing global regulation in the field of data protection. It can be assumed that the EU Commission will consistently prosecute infringements of the GDPR by large global companies, the experts say.
Trend 2: The Internet of Things drives the interdependency of security, cybersecurity and data protection
In 2016, the use of the Mirai malware proved that IoT devices can be used to form a powerful and dangerous botnet. The time-to-market requirements of product development and the limited technical performance of IoT devices today ensure that these devices expose critical vulnerabilities that can be easily exploited. The impact of data breaches today also includes physical threats to health and safety, as devices and systems are directly connected to open networks. It is an open secret that IoT security is not well off. It is estimated that more than on average 500 of these devices will be installed in private homes by 2022. As a result, the inherent risks to security, cybersecurity and data protection will rise sharply.