Millennial Workforce Increasingly Adopts BYOD, Showing Nonchalant Attitude Towards Password and Security Policies
Posted October 16, 2013
Continuing Its Alignment to National Cyber Security Awareness Month’s Weekly Themes, ThreatMetrix Outlines the Ways Businesses Can Reap the Benefits of BYOD in the Workforce
San Jose, Calif. – October 16, 2013 – ThreatMetrix™, the fastest-growing provider of integrated cybercrime solutions, continues its commitment to National Cyber Security Awareness Month by aligning to the week three theme, “Cyber Workforce and the Next Generation of Cyber Leaders.”
The U.S. Bureau of Labor Statistics projects the millennial generation will dominate the workforce by 2015 – and they’ll be bringing with them a whole new attitude about technology and cybersecurity. This includes a nonchalant attitude towards passwords and security, and an insistence on using their own devices – the Bring-Your-Own-Device (BYOD) challenge.
“When we first started talking about BYOD, there was a lot of resistance and concern from businesses from a security standpoint – very few devices were known and approved by IT,” said Andreas Baumhof, chief technology officer, ThreatMetrix. “However, with more insistence from the evolving workforce, companies began warming up to the idea, realizing BYOD can lead to a more productive workforce and lower costs. Initially, BYOD policies were responding to the needs of the employee only. Companies are now beginning to understand how to create policies around the intersection of the employee and the enterprise.”
Unfortunately, the major issue for companies implementing BYOD policies still lies in security. Early BYOD programs were focused on restricting and controlling devices themselves, but companies quickly learned that approach wasn’t scalable. The devices themselves do not fall under IT’s control, and with mobile devices changing at such a rapid pace, it is impossible for companies to keep up.
According to Baumhof, to implement secure BYOD policies, companies need to focus on the factors they can control:
• Logins – Make sure to have secure login systems across all devices. For example, don’t sacrifice security for convenience on mobile logins. Webmail and SSL-VPN’s are a common entry point for attackers.
• Transactions – Identify high risk transactions, and implement technologies that can identify these across multiple applications with different security requirements.
• Data – Design policies about who can access which data in which situations and implement technologies that can help by watching each login and transaction automatically.
“BYOD is a result of a generation that grew up with technology coming into the workforce,” said Baumhof. “This is a culture clash for many enterprises. BYOD is the first step towards a fully integrated approach of employees and enterprises working together for the benefit of both – in the most productive way possible.”
This will be a major shift in the industry and ThreatMetrix sees the rapid growth of BYOD in the workforce going hand-in-hand with this week’s National Cyber Security Awareness Month theme – “Cyber Workforce and the Next Generation of Cyber Leaders” – as ThreatMetrix aligns with the Department of Homeland Security’s emphasis on the importance of cyber security, no matter what device data is accessed from.
For more information on National Cyber Security Awareness Month, visit: http://www.dhs.gov/national-cyber-security-awareness-month or http://staysafeonline.org/ncsam/.
ThreatMetrix™ secures Web transactions against account takeover, payment fraud, identity spoofing, malware, and data breaches. The ThreatMetrix™ Global Trust Intelligence Network, which analyzes 500 million monthly transactions, provides context-based authentication and Web fraud prevention to help companies accelerate revenue, reduce costs and eliminate friction. ThreatMetrix protects more than 1,900 customers and 9,000 websites across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government, and insurance. For more information, visit www.threatmetrix.com or call 1-408-200-5755.
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