Mar 18, 2019   SOURCE: PR NewsWire

Key Cyber Security Considerations For 2019: KPMG

NEW YORK, March 18, 2019 /PRNewswire/ -- The increasing sophistication and volume of cyber security threats and attackers, rapid technology changes, the continued move to automated and cloud-based services and changing data privacy regulations are just a few factors that have propelled companies' to increase their focus on cyber security and information protection. In 2019, it is important that organizations remain informed about emerging threats and ways to mitigate them.

"It is critical organizations transition their approach to cyber security from strictly risk management to more of a focus on business innovation and growth," said Tony Buffomante, U.S. Leader for Cyber Security Services at KPMG LLP. "Companies should seize opportunities to transform their security, privacy and continuity controls in order to grow their businesses."

In this new report, "What's next: Key cyber security considerations for 2019," KPMG has identified six key areas to top companies' cyber security agendas amid the evolving threat landscape.

    --  Addressing the Cyber Security Skills Shortage: The lack of seasoned
        cyber security professionals, combined with tightening budgets,
        highlights the importance of automation. Organizations should consider
        automating some of the repetitive aspects of collecting and analyzing
        data about intruder activity. This will help to re-prioritize where
        cyber professionals are focusing efforts. Companies should also focus on
        recruiting new talent out of college and developing bespoke training
        programs to build the next generation of cyber professionals.

    --  Fight Artificial Intelligence with Artificial Intelligence: Cyber
        attackers are increasingly likely to employ artificial intelligence
        (AI), using deep learning and machine learning to make malware and
        targeted attacks more effective and harder to detect. Organizations
        should also use these tools to help identify security incidents and
        assess vulnerabilities across the system.

    --  Sustainable Data Privacy Compliance: Companies should move beyond
        compliance to ensure data privacy processes are a component of business
        models. A framework of best practices should be woven into the
        organization's culture and procedures allowing for flexibility to adapt
        to new regulations such as the EU General Data Protection Regulation
        (GDPR) and the California Consumer Privacy Act of 2018 and evolving
        regulations such as the Health Insurance Portability and Accountability
        Act of 1996 (HIPAA).

    --  Fraud and Cyber Risk Intersect: Organizations, financial institutions in
        particular, should focus on the reduction of fraudulent activity, as
        they look to make the customer experience more secure and personalized.
        In 2019 and beyond, fraud and cyber should command equal attention from
        a security perspective and new and enhanced strategies for collecting
        and using client data should be developed.

    --  Identity and Access Management - From Security Tool to Business Driver:
        Identity and access management is evolving from a security tool to a
        business enabler as companies seek to use technologies, such as advanced
        authentication and identity proofing, to provide a secure
        customer-centric digital experience that can be personalized across
        multiple channels and devices.

    --  Phishing - A Return to Old School Attack Methods: Phishing, the practice
        of posing as a legitimate institution via email to lure individuals into
        providing sensitive data, is among the older attack methods, but remains
        difficult to defend. Attackers are returning to more archaic method of
        infiltration as some organizations shift their defense focus towards
        newer methods of attack such as malware. To pivot against constantly
        changing methods of attack, organizations should move towards a broader,
        managed cyber response posture.

About KPMG LLP

KPMG is one of the world's leading professional services firms, providing innovative business solutions and audit, tax, and advisory services to many of the world's largest and most prestigious organizations.

KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity, and eradicating childhood illiteracy.

KPMG LLP is the independent U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's independent member firms have 207,000 professionals working in 153 countries and territories. Learn more at www.kpmg.com/us.


                        Contact:    
            Creighton (Abe) Abrams


                                    
            KPMG LLP


                                    
            201-307-7231


                                    
            
              cabrams@kpmg.com

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SOURCE KPMG LLP