Top 5 Industries That Benefit the Most from Zero Trust Security Solutions
It is imperative for businesses to invest in the Zero Trust model as it provides companies with improved security, frequent patching, usability, and cost savings. The user experience, network infrastructure, and cyber threat security are all enhanced by a well-designed Zero Trust framework. Since companies handle large amounts of clients’ personal data, cybercriminals are always looking for vulnerabilities in the systems. Competitors sometimes carry out these attacks to destroy the business’s reputation.
With more and more companies using cloud networks to manage their data and daily communications, cyberattacks are also on the rise. The complexity of the network in different industries has led to an increase in the attack surface of your network. The micro-perimeters, micro-segments, and access control systems built in the Zero Trust framework can help the companies reduce vulnerability and reclaim control.
Information Technology Industry
Zero Trust Security solutions are of utmost importance for the information technology industry since they protect data from theft and damage. Banking systems, government identification systems, stock markets, social media, and eCommerce all rely on information technology. These organizations usually hold sensitive data, including personally identifiable information (PII), protected health information (PHI), and intellectual property data.
Many high-profile data breach cases have made headlines involving companies like Yahoo!, Uber, and Target, costing them millions in legal compensation. The hackers and cybercriminals were able to get access to the usernames, passwords, and credit card numbers of millions of Americans. As hackers are getting smarter and smarter every day, the role of cybersecurity analysts is gaining more importance. Zero Trust Security solutions can reduce damage severity or extent by limiting data usage, eliminating implicit trust, and micro-segmentation.
The telecommunications sector is vulnerable to IP-based threats because it still uses legacy technology. Considering that the telecom industry holds sensitive data in incredibly large amounts, it is a lucrative target for cybercriminals. Telecom companies should also adopt the necessary security measures to protect all forms of data from loss or theft.
Considering that a telecom network has interconnected networks and handles the personal information of millions of customers, a successful attack on the network can potentially destroy the company. As we move towards advanced technology like 5G, the threat surface continues to increase.
The modern telecommunications infrastructure used in most telecom industries is heterogeneous in nature. Therefore, protecting network resources with conventional perimeter-oriented approaches is becoming increasingly difficult. Companies must build strong cybersecurity strategies, including implementing the Zero Trust Security framework.
Rather than assuming trust, the Zero Trust Security solutions impose a security policy based on context provided by least-privileged access restrictions and strict user authentication. A Zero Trust architecture prohibits unauthorized access and lateral movement inside the telecom IT infrastructure by enforcing access laws based on contexts, such as the user’s role and location, device, and the data they seek.
Retail and E-commerce
The number of people preferring to shop online is increasing day by day. Because of this, global retail sales growth will continue to rise and take up more retail market share. Most cybercriminals prefer to target online businesses. That is why a serious business must employ strong online security measures and protocols.
In today’s tough competition, good customer service and quality products are not enough to survive in the market. You need to keep the customers safe from cyber criminals and ensure that the online transaction systems are foolproof. This is why companies dealing in online retail and e-commerce must embrace a zero-trust approach toward cybersecurity.
With more companies adopting the hybrid working model, it is common for employees to access the company’s network or complete work-related tasks through their personal phones and tablets. This puts the company’s network at significant risk. Zero Trust framework can mitigate these threats by implementing strict endpoint security and micro-segmentation.
The healthcare industry is subject to strict industry regulations, including HIPAA. Many healthcare providers use Electronic Health Records (EHRs) to quickly locate information on a patient’s problems, medications, and test results. These systems rely heavily on networking to communicate with linked hospitals and hospital-adjacent facilities. Having incredible amounts of clients’ personal and health information stored in these systems, they are always prone to cyberattacks.
With the onset of the COVID-19 pandemic, the healthcare industry is facing a lot of stress due to work overload and cybersecurity challenges. Zero Trust Security solutions can help healthcare professionals overcome modern challenges related to cybersecurity by combining advanced security technologies such as identity protection, endpoint security, and multi-factor technology.
Energy and Utility
Energy security is vital for well-functioning modern societies and economies. Energy technologies are increasingly connected to digital networks. This growing digitization makes the energy system more intelligent, guaranteeing benefits to operators and users in terms of innovative and efficient services.
At the same time, digitization creates significant risks, as increased exposure to cyber threats undermines the security of the energy supply and the confidentiality of user data. That energy operators are vulnerable and suffer damage caused by cyber-attacks is now an established risk. The risks to be faced are substantially linked to the digitization process of the infrastructures, as required by the energy transition, which will characterize the next decade.
While all industries must prevent hackers from stealing sensitive data from their IT environments, energy companies must also manage the threat to their operational technologies (OT), i.e., all those responsible for controlling and monitoring production systems that have the task of controlling and monitoring production.
In 2021, Colonial Pipeline came under cyber attack. The company had to pay hackers a $5 million ransom to get their data back. Earlier, the United States fined a Russian lab for allegedly using Triton software in the 2017 attack on a Saudi petrochemical plant. The attack cost the plant millions of dollars, but it could have been much worse had it worked as designed.
The dangers exist and are multiplying, putting energy cybersecurity at risk. It is necessary to understand whether the managers of energy companies are aware of the cyber risks that their companies run and their strategies to manage the evolution of the threat.
Zero Trust security solutions are now being implemented in more and more industries due to their effectiveness in addressing network security needs. In Zero Trust Security, you only trust any user, device, or application once they have proven themselves to be safe. Across the world, 80% of all businesses have either adopted Zero Trust or are in the process of implementing it. To know more about how you can protect your hybrid and multi-cloud environments with Zero Trust solutions, visit https://nordlayer.com/zero-trust-security/.
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