Hawthorne, N.J., November 2, 2020

Stealthbits, Now Part of Netwrix, predicts 2021 to be the Year of the Black Swan Event

Company cites outsourcing, privacy regulations and more targeted ransomware attacks as other challenges facing security teams in 2021

Stealthbits, now part of Netwrix, today unveiled its predictions on what security teams will face in 2021. The company believes that fueled by the pandemic, next year will see organizations challenged by unpredictable events with potentially severe consequences, often referred to as “black swan events.” Stealthbits cites a resurgence in outsourcing to meet security needs, the continued struggle to adhere to a growing list of global privacy regulations and a twist on ransomware targets as other hallmarks of the year ahead.

The events of 2020 forced organizations to do things they weren’t necessarily ready to do to support a remote, global workforce. As a result, security teams are playing a high-stakes game of whack-a-mole, as they are forced into the almost untenable position of force fitting what they have to meet new challenges without the time, budget or resources to properly execute it. Whether it is digital transformation, cloud adoption or adhering to privacy regulations, we believe 2021 will see global organizations grappling with what the next attack will be and where and how it will hit.
Jim Barkdoll, CEO of Stealthbits, now part of Netwrix

Stealthbits predicts that the inevitability of a Black Swan event in security will be impacted by the following in 2021: 

  1. Ransomware will become cloud aware. 

In 2020, ransomware breaches moved away from locking your environment, toward data breaches and demanding payment to prevent bad actors from leaking information.  In 2021, ransomware will not only become more advanced, it will adapt to target the new data stores in SaaS and cloud. 

  1. Enterprises that don’t protect the new perimeter will fall victim to attackers. 

As the world faced a global pandemic, enterprises were forced into a corner, acting quickly to extend their perimeters to accommodate a remote workforce. In 2021 organizations must move quickly to control the new perimeter they jammed into place in 2020. Moreover, organizations will be forced to either address all the gaps in their technology architecture resulting from missed or skipped steps for the sake of expediency, or face breaches as threat actors will quickly identify and capitalize on these vulnerabilities. 

  1. Popularization of Privacy.   

As awareness of Data Privacy becomes more mainstream, this will put more pressure on organizations to respond faster than they have previously.  If you look at documentaries like The Social Dilemma by Netflix, or cinema-like shows like Identity Thief or UK-produced thriller, Black Mirror, privacy is permeating pop culture. This mainstream shift will drive more accountability through organizations and in turn, their vendors, to become more compliant. 

  1. Rising, complex global privacy regulations will make data breaches a cost of doing business. 

In the next three years, 65% of the world’s population will be living in countries that demand personal data privacy protections for their citizens. That’s up from just 10% this year, according to a recent study by Gartner.   2021 will see an increase in compliance failure and regulatory fines. Even if every organization takes action to implement strategies to address the growth in regulations, it takes time to achieve any effectiveness.  Organizations will acknowledge a data breach and/or compliance fine as a cost of doing business. 

  1. Cloud creates a new skills gap 

Rapid cloud adoption and the acceleration of digital transformation initiatives have been the hallmark of 2020 for many organizations. While these initiatives are significant, the pace in which SaaS evolves makes it incredibly difficult for existing security resources to keep abreast of capabilities – it’s creating a new level of skills gap.  Cloud experts are challenged to keep pace with the rate of change and that introduces risk. 

  1. Outsourcing will struggle to deliver due to accelerated cloud adoption and digital transformation. 

The acceleration of aggressive cloud adoption and digital transformation combined with the skills gap mentioned above means MSSPs will struggle to meet the demands of the market and keep the security promises to their customers.  The increasing demand to secure newly adopted infrastructure results from the same challenge that faces many organizations:  you simply can’t hire or train fast enough to keep pace with the demand. 

about netwrix corporation

Netwrix champions cybersecurity to ensure a brighter digital future for any organization. Netwrix's innovative solutions safeguard data, identities, and infrastructure reducing both the risk and impact of a breach for more than 13,500 organizations across 100+ countries. Netwrix empowers security professionals to face digital threats with confidence by enabling them to identify and protect sensitive data as well as to detect, respond to, and recover from attacks.

For more information, visit www.netwrix.com.

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