cybersecurity-strategies-shift-as-canadian-businesses-invest-in-digitization-during-covid-19-pandemic

Cybersecurity strategies shift as Canadian businesses invest in digitization during COVID-19 pandemic

 

Most (97%) Canadian businesses (96% globally) say their cybersecurity strategies will shift as a result of the increased digitization during COVID-19 pandemic according to PwC Canada’s Digital Trust Insights report. PwC surveyed more than 3,000 business and technology executives around the world, including a significant number of Canadian respondents, who tell us what’s changing and what’s next in cybersecurity, privacy and resilience.

“Traditional approaches to cyber are struggling to keep up with the pace and scale of digitization and automation. And they’re slowing down business strategies and impacting both the top and bottom line. So it’s really not surprising that nearly all Canadian executives say their cybersecurity strategies will shift as a result of COVID-19.” says Saj Nair, Partner & National Leader for Cybersecurity, Privacy & Financial Crime, PwC Canada.

Rethink the cyber budget process
Almost half (56%) of the Canadian respondents (55% globally) expect to increase their cyber budgets, however only very few (34%) of Canadian executives (44% globally) are really confident their cyber budgets are being assigned and spent correctly. As organizations digitize, getting the most value out of every cyber dollar spent will become even more critical, not just because of our current economic climate, but also because every new digital process can become a vulnerability for cyber attack.

Level the playing field with attackers
Leading organizations are exploring innovative and advanced methods to protect their expanding digital ecosystems as increased adoption of cloud, automation and Internet of Things (IoT) systems can’t be protected with traditional IT Security methods. The top three cybersecurity approaches that Canadian organizations have implemented, and are currently realizing the most benefits from, are security orchestration and automation (19%), modern identity and access management (17%) and integrated cloud and network security (17%).

Build resilience for any scenario
Cybersecurity’s role now and into the future will be strengthening the resilience of their organizations. Almost half (57%) of Canadian executives (40% globally) plan to increase resilience testing to make sure, if a disruptive cyber event occurs, their critical business functions will stay up and running.

Talent: Future-proof the security team
In the next year, 42% of Canadian respondents plan to add full-time cybersecurity personnel to their organization. Many recognize the challenges in attracting and retaining good cyber talent, and so not surprisingly an overwhelming majority (94%) of Canadian respondents (93% globally) use or plan to use managed services.

Digital Resilience Centre
To further enable their clients on their digital trust journey, PwC Canada has opened its first Digital Resilience Centre in VaughanCanada. The Centre provides an end-to-end digital trust framework to help organizations innovate, experience, and operate across the threat management lifecycle. The Centre helps organizations unify their defences against digital threats by bringing together thought leadership and capabilities across cybersecurity, privacy, anti-fraud, anti-money laundering, physical security and safety. Within the Centre is the Digital Resilience Sandbox, an immersive lab where clients can see, touch and experience the latest technologies, such as industrial systems, robotics, IoT, artificial intelligence (AI), cloud and mixed reality, and simulate offensive and defensive tactics on them. Clients can experience what an adverse event on their digital ecosystem would look like and test various methods to prevent, detect and react to these threats. Other similar centres exist in IsraelIndia and the US.

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Kaspersky Commended by Frost & Sullivan for Delivering Customer-Focused, Holistic Cybersecurity Solutions

 

Based on its recent analysis of the global industrial (OT/ICS) cybersecurity market, Frost & Sullivan recognizes Kaspersky with the 2020 Global Company of the Year Award for advancing its vision of creating a truly superior industrial cybersecurity solution. Kaspersky is a leader in analyzing market trends and developing customized solutions that effectively address key pain points within the industrial environment. It has made significant strides over the past five years by incorporating unique technologies such as Machine Learning for Anomaly Detection (MLAD) and Kaspersky Threat Intelligence Feeds in its solutions.

In response to the convergence of IT and OT systems, it launched the Kaspersky Industrial CyberSecurity solution. The solution includes a wide range of products and services such as Kaspersky Industrial CyberSecurity for Nodes to protect industrial endpoints and Kaspersky Industrial CyberSecurity for Networks for asset and communication discovery for situational awareness, and early industrial attack and anomaly detection. In addition, it offers security awareness and training, threat intelligence, security and vulnerability assessments, and managed security services. Its detection engines generate different events, while its correlation engine correlates these atomic events into aggregated events that help eliminate unnecessary alerts.

“Kaspersky Industrial CyberSecurity is uniquely placed to address unmet needs such as protecting legacy operating systems on industrial hosts and offering comprehensive network and asset visibility along with well-rounded attack visibility and protection,” said Gautham Gnanajothi Global Research Director. “Its Growth Center, Future Technologies, and Innovation Hub departments are perfectly positioned with best-in-class strategic frameworks to assess, develop, and deliver innovative security offerings to support industrial/ OT end users along their digital transformation journey.”

Significantly, the company has two dedicated research teams; one to support its industrial solutions and one for broader market-focused cybersecurity megatrends. The Kaspersky Industrial Control Systems – Cyber Emergency Response Team (ICS-CERT) for industrial solutions specializes in collaborating with regulators and official standards organizations to develop best practices, and research potential and existing threats across industrial automation systems and the industrial Internet of Things (IIoT). Meanwhile, the Global Research & Analysis Team (GReAT) focuses on wider cybersecurity megatrends and uncovers cyber-espionage campaigns, major malware, ransomware, and underground cyber-criminal trends across the world.

“The company has established its dominance in a yet uncontested market with emerging technology-based products such as the IoT secure gateway product based on its proprietary operating system KasperskyOS,” noted Gnanajothi. “Leveraging superior technical performance, customer service focus, and client relationship, Kaspersky is all set to dominate the industrial (OT/ ICS) cybersecurity market in the long term.”

“The protection of industrial organizations is one of our key business priorities. While these organizations enhance their OT security, our goal is to provide them with the solutions and expertise required for their level of maturity. We also understand that complex measures are crucial to ensuring any protection is effective, so Kaspersky’s portfolio also includes security services and training to improve expertise among IT security teams and OT engineers, as well as employee awareness. This Frost & Sullivan award confirms that we’re on the right track, so we’re extremely proud to receive such recognition,” commented Georgy Shebuldaev, Head of Growth Center, Kaspersky.

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.