The rise of cloud services adoption by businesses has also led to spikes in cybercrime, which highlights the need for strong encryption practices in the modern world.
Deloitte data has shown that 42 per cent of Australian businesses now use paid cloud services which have led to a $9.4 billion productivity benefit to the economy over the last five years.
The main reasons behind this adoption have been improving customer service, keeping up with or being ahead of competitors and staying in touch with the latest technological advancements.
However, protecting this data is becoming increasingly more difficult with Australians reporting cybersecurity incidents every 10 minutes on average.
It is costing Australia $29 billion every year and has been highlighted by large-scale instances like the WannaCry ransomware attack of 2017 which locked hundreds of Australian businesses out of their systems.
To prevent data being used for nefarious purposes, encryption is vital. It encodes sensitive data, systems and the personal details of clients and consumers so that if there is a breach, the information is effectively useless to the cyber-criminal.
While most cloud-hosted services will include encryption, many businesses are neglecting data stored on devices – which opens the door for data breaches.
Global security firm ESET and Kingston Technology has found that 55 per cent of businesses don’t encrypt removable devices like USB sticks and hard drives.
This leaves them vulnerable if these devices are lost or stolen.
Legacy technology like office computers and servers are usually encrypted and are well covered in security planning.
But the way we work is changing and more and more remote workers are operating out in the field with mobile devices where this data is not encrypted.
Sophos data shows that only a third of businesses will encrypt tablets and mobile devices issued to remote workers – and that doesn’t even cover devices workings are bringing from home for work use.
This needs to be a key consideration for all future cybersecurity planning as these remote devices can present a significant portal for cyber intrusion and data leaks.
An easy solution for businesses that have remote workers is VPNs.
These connect remote workers devices to a secured, encrypted and private network rather than just their unsecured, standard internet service provider (ISP) or mobile data.
This secures the connection between remote workers’ devices and business networks and dramatically decreases the likelihood of data breaches or outside intrusion.
Researchers have developed a new way to transmit data that provides even great encryption and higher levels of security than ever before.
Designed specifically for data centres that house cloud services for businesses and individuals, the technology is essentially based on light.
Rather than send a single colour of light through fibre optic cables, the transmission is spread over multiple colours across a bandwidth that is 1000 times greater than normal.
These transmissions are also masked by noise that means data is not only secured but can be transmitted without being detected by would-be cybercriminals at all.