Just as technology evolves for everyone, so do methods used to maliciously access devices and information. In 2021, the FBI estimated that more than USD$6.9 billion was lost to cybercrime in the US. Additionally, 4,145 publicly disclosed breaches exposed over 22 billion data records. This is a worrying increase of 50% compared to the year before.
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Atsign and ZARIOT cybersecurity elites discuss trends surrounding data privacy during MWC’23.
Proactive vs. Reactive Strategies
When there is one, enterprises often take either a proactive or reactive approach to cybersecurity. A reactive approach is where cybersecurity protocols are implemented after an attack has occurred. Often as part of damage control. Alternatively, it is a set-it-and-forget-it process. This means companies will initially introduce practices to plug gaps, but stop short of integrating it into the company culture.
Meanwhile, a proactive cybersecurity strategy is about acting and preventing any attack before it occurs.
This means that companies will embedded security across all products and services. They also actively review and update practices and policies with an eye toward emerging threats.
Their goal is towards building a tightly knit security ecosystem. One where together with partners, customers and even regulators, are fully incorporated into the management of resilience.
Benefits of Proactive Security Strategies
Builds trust and reputation
Investing in a robust cybersecurity framework build trust with your customers, but 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 due to a breach. 80 percent of consumers will further defect from a business once their information is compromised. Clear signs of how the lack of security can directly impacting your bottom line.
Investing digital resilience will also create new channels of revenue. Especially from critical industries where data security and privacy are highly valued. For example, healthcare, utilities, government, energy and logistics. 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 introduced the Cyber Resilience Act as a part of its 2020 EU Cybersecurity Strategy. These set strict guidelines for the development and production of digital products and data compliance. Extending to include 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. For instance 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.
IoT also Trust eliminates the need for open IP ports by reducing reliance on firewalls, VPN, and other security architecture.
Additionally, ZARIOT proprietary signalling security prevents location tracking, SMS interception, fraud, DoS, network information disclosure, and more.
Build a Better Security Framework
Our solution provides unparalleled cellular security and true end-to-end data encryption for the lifetime of devices. We can retrofit any pre-existing IoT device with an eUICC enabled SIM. Saving on additional hardware costs. This simplifies access to devices for configuration and maintenance, accelerating your project development and scaling with ease.