Just as technology evolves for everyone, so do methods used to maliciously access or modify devices and information. The figures speak for themselves, the FBI estimated that in 2021, more than USD$6.9 billion was lost to cybercrime in the United States, an increase of 50% compared to the year before.
The result of security vulnerabilities is that there were 4,145 publicly disclosed breaches that exposed over 22 billion data records.
Proactive vs. Reactive Strategies
When there is one, enterprises often take either a proactive or reactive approach to cybersecurity. Broadly speaking, a reactive approach is where cybersecurity tools and protocols are only implemented after an attack has already occurred as part of damage control. Alternative, it is a set-it-and-forget-it process where companies initially introduce practices to plug gaps but stop short of updating and integrating it into the company culture.
A proactive cybersecurity strategy is about acting and preventing any attack before it occurs.
This approach means that security is embedded in products and services, as companies actively review and update practices and policies with an eye toward emerging threats.
The goal is towards building a tightly knit security ecosystem where partners, customers, third parties, and even regulators are fully incorporated into the management of resilience.
Benefits of Proactive Security Strategies
Builds trust and reputation
Not only does investing in a robust cybersecurity framework build trust with your customers it makes you more attractive to new ones. Knowing their data is safe helps customers feel more confident in your company.
In fact, 52 percent of consumers said security is an important or main consideration when purchasing products or services. A recent study also found that 65 percent of data breach victims lost trust in an organization as a result of the breach. And almost 80 percent of consumers will defect from a business if their information is compromised in a security breach, directly impacting your bottom line.
Investing digital resilience attracts new customers from industries where data security and privacy are highly valued such as healthcare, government, energy and logistics. You also maintain a competitive advantage as more and more industries around the world adopt a more proactive approach to security.
Stay in compliance with data protection laws
A company with a proactive security approach must demonstrate an understanding of cybersecurity and data protection laws that mandate security and privacy by design. Global leaders are introducing a raft of regulations, endeavoring to strengthen cybersecurity infrastructure and boost digital resilience.
For example, in 2022, the EU Commission introduce the Cyber Resilience Act as a part of the broader 2020 EU Cybersecurity Strategy. These set strict guidelines for the development and production of digital products and data compliance, including IoT devices and associated services. Failure to comply will result in severe financial penalties of up to €15 million.
These requirements are just the latest in a growing trend. Governments are increasing efforts to strengthen a series of established compliance laws like GDPR, CPRA, and industry specific regulations (e.g., HIPPA), to protect business-critical and other sensitive information.
About ZARIOT and partners
In collaboration with our ecosystem partners Atsign and Kigen, ZARIOT extends the security model to include true end-to-end encryption of IoT data. IoT Trust encrypts all data transmitted from any cellular IoT device to the final system, user application, or other peer devices.
Only an end device, user, or solutions owner, can administer its access control or give real-time consent to data. This means that data is not visible at any point or available to any 3rd parties without the owner’s consent.
The device itself is also protected from cyberattacks as IoT Trust eliminates the need for open IP ports and reduces complexity by reducing reliance on firewalls, VPN, and other security architecture.
Additionally, ZARIOT proprietary signalling security prevents location tracking, SMS interception, fraud, DoS, and network information disclosure. The IP layer connectivity from the secure ZARIOT network to the IoT application server is secured with an IPSec VPN, and APN lock.
Build a Better Security Framework
Our solution provides unparalleled cellular security and true end-to-end data encryption for the lifetime of devices. It can be retrofitted to almost any device with an eUICC SIM, meaning you do not have to purchase additional hardware. This simplifies access to devices for configuration and maintenance, accelerating your project development and scaling with ease.
To read more about our ecosystem partners, click here to download our whitepaper to learn more. Or reach out to one of our industry experts to schedule a 1-on-1 meeting.