1) How will an increased focus on digital privacy and security impact the average Canadian?
Herjavec Group has been warning about ransomware attacks for more than a year, and shares the estimate by Cybersecurity Ventures that ransomware damages will reach $2.5B billion for the year. Data thieves used to set their sights on stealing financial records or bank account numbers. They focused on laptops with unencrypted hard drives and simple spam or phishing scams. Now they’re deploying advanced techniques, such as SQL injections, Advanced Persistent Threats, Zero Day exploits, and ransomware, effecting devices, both corporate and personal, that connect to your network. As our personal and corporate worlds become more and more interconnected, these attacks are very much impacting the average Canadian.
2) What are the greatest obstacles for improving online security and privacy? How will we overcome these obstacles?
The global spending on cybersecurity products and services is expected to exceed $1 trillion between 2017 and 2021, while costs associated with cybercrime will increase to $6 trillion by 2021. This reinforces the cybercrime epidemic impacting enterprises and governments worldwide. The growing attack surface, the cybersecurity workforce shortage, the increase of nation-state cyber threats, and the lack of cybersecurity awareness training for employees are all factors that contributed to the sharp increase in cyber-attacks against enterprises we have seen over the last year. The security landscape for 2017 will be faster-growing and more complicated than ever before. To overcome these obstacles, company leaders should have a thorough knowledge of the organization’s “crown jewels” and prioritize protecting the most important data first and foremost. We all need to move from a reactive environment to a proactive approach to better protect our data, train our people and elevate cyber awareness.
3) How can a business maintain an effective cyber security strategy, while threats continually evolve due to the rapid increase of technological capabilities?
The impact of cloud, mobile devices, and IT consumerization, coupled with increasingly sophisticated cyber-attacks, makes the possibility of a security breach a serious threat to all businesses. For organizations, this involves establishing a plan to increase maturity over time, meaning C-level executives, in collaboration with the IT team, must ask, “How do I increase my maturity to move from a purely reactive defense towards a proactive defense?” This has proved to be a difficult approach, as a severe cybersecurity workforce shortage has left CISOs (Chief Information Security Officers) and corporate IT security teams shorthanded and scrambling for talent while the cyber-attacks are intensifying. To cope with this shortage and constant changes in security environment, we are seeing more businesses and enterprises placing some or all of their IT security into the hands of third parties. The IT security outsourcing segment recorded the fastest growth (25 percent) out of the entire cybersecurity market last year, according to Gartner. By having a partnership with a third-party SOC (Security Operations Center) provider is beneficial to companies that have limited IT resources and lack internal security expertise. Companies want to identify a provider that can manage the risks to their organization’s critical assets in an efficient fashion while aligning with industry best practices and the business’ needs. With this support, organizations can focus their resources on the real threats to the business, while still having a dedicated team of analysts monitoring alerts and detecting intrusions 24/7/365.
Telus 25 York Street, 3rd Floor Toronto, Ontario
What Attendees are saying
“The only conference in Canada where one can meet the who’s who of knowledgeable people and champions of digital identity to discuss the real issues and opportunities in this space.” Dave Nikolejsin, Deputy Minister of Energy and Mines at Government of British Columbia
“A fantastic platform bringing together Canadian thought leaders and key industry experts to promote innovation in digital identity and authentication.” Mike Vanderkaden, VP Corporate Development, Equifax Canada