The arrival of a new decade brings with it the ultimate solution to cybercrimes the world over- Alas! We wish we could be the forebringers of such news but the fact is that this new year brings with it a whole host of new challenges to the cybersecurity domain. 2019 was a hot mess and the threats loom large over the horizon. Cybersecurity could be our Achilles heel or the ark that leads us to safety. Cybersecurity predictions for 2020 could help us better tackle the obstacles likely to line our path.
The political landscape does not bode well with growing tensions between China, Russia, Iran, North Korea, and some liberal democracies. Cyberspace has been recognized as a tool and one that nations are not hesitating to explore.
We’ve compiled a list of the biggest cybersecurity threats of 2020 as predicted by the experts.
Internet of Things (IoT)
The boom in the Internet of Things (IoT) will undoubtedly beckon hordes of cybercriminals to the forefront. The fragile interconnectivity provides the perfect opportunity for hackers to gain entry through a single point and gain mastery over all the connected devices. The dependence on technology and the ease of connected devices has organizations heading down that path without really understanding the security concerns. With the use of personal devices at work, hackers have plenty of opportunities and motives to try and worm their way into the system.
Self-driving cars may very well become a reality but the threats faced by smart cars alone emphasize the need for security in IoT.
Phishing Takes A Different Approach
Most of us wouldn’t risk clicking on links unless we’re certain that it is from a reliable source- perks of living in a digitized world! We’ve all read enough articles on how ‘dark and dangerous’ the Internet can be. After all, phishing accounts for 90% of the data breaches. We’ve left the criminals no option but to come up with more sophisticated scams to get us to click on links (website, text, email, etc) that will expose our systems to malware and give them access to sensitive information like our login credentials and financial information. Phishing is one of the easiest and profitable social engineering cyber attacks for criminals and they are getting creative and employing machine learning to craft convincing messages that’ll get people to open up.
Artificial Intelligence Joins The Enemy Ranks
Artificial Intelligence (AI) has a lot of scope in the future and cybercriminals have been taking note of it. AI is being used to come up with sophisticated malware that is highly specific and hard to detect. Such intelligent malware will probably not be used on a large scale and is target-specific. The quality of scams is likely to be taken a step further with machine learning. It is easy to alter the audio and visuals in a video that can be used in a multitude of scams to wreak chaos on the public.
Ransomware Will Continue To Be A Major Threat
Hacking into systems and demanding a ransom has been made easier by the popularity of cryptocurrencies like Bitcoin. The fact that these currencies are hard to track has increased the appeal. Domains like healthcare, finance, and business are the primary targets and cost the victims billions of dollars. When critical service providers like hospitals, schools, or say government agencies have been hacked and the information held at ransom, they don’t really have a lot of options and end up buying the control back.
The SamSam ransomware attack was one of the most high-profile attacks targeting the city of Atlanta, the transportation department, and numerous healthcare facilities. The attacks were responsible for over $30 million in losses. The best way out of this mess is to have sound security and have a plan of action in case of infiltration by hackers. Time is of the essence in such cases.
Cybercrime has become a major threat with not just criminals but entire nations joining the bandwagon. The attacks are not restricted to organizations but target individuals on a large scale. The threats are varied and constantly evolving and call for smart, counteractive solutions. There is a dearth of qualified cybersecurity professionals to take on the challenge. The scope of cybersecurity is like the plentiful cornucopia; there is room for ample advancement.
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