Laura Koetzle, VP and Principal Analyst
In a recent appearance on “60 Minutes,” Federal Reserve Chairman Jerome Powell listed cybersecurity as a likely trigger for global financial distress. Cybersecurity has an outsized impact on everything from the geopolitical maneuvering of the world’s most powerful nation states to the financial wellness of individuals.
On this week’s What It Means, Forrester VP and Group Director Laura Koetzle talks about the 2019 RSA Conference, threat intelligence, and why income inequality matters in cybersecurity.
This year’s RSA Conference emphasized the industry’s development and professionalization. But it was the conference’s tagline that said it all: “Better.” The industry must strive for better. Breaches are still common and devastating. And the truth is, cybercrime does pay. From petty ad fraud to industrial espionage, hacking is a lucrative criminal endeavor.
The socioeconomic reality of income inequality can serve as an incentive. Deeply unequal countries such as Nigeria, Brazil, and Russia have high rates of cybercrime. It can be more tempting to try black-hat hacking when the economic cards are stacked against you, the rule of law isn’t evenly applied to all, and there’s a relatively low chance of getting caught (as is common with cybercrimes).
Given this, cybersecurity professionals must focus on strategy. As Koetzle points out, the industry doesn’t lack the technology to succeed (except for maybe homomorphic encryption). However, orchestrating the tech remains a challenge. A strong framework like Zero Trust can go a long way.