Cybersecurity is like a chessboard, on which hackers look for defenders to check. By starting an attack every second, the hacker plays the defense team out.
No wonder that regulators on privacy have a difficult time capturing cybercriminals that infringe cyber networks to absorb private data. Failed protocols on cybersecurity form the core of data infringements, ransomware attacks. On the other side of the law, massive technological development is also visible, and on the other side of the law, cyber criminals evolve their tactics to overcome the consequences of business investment in cybersecurity.
In 2019, more than 3,800 publicly disclosed cyber-attacks were reported, it is not surprising! Nevertheless, the number of cyberattacks is still growing year after year, making cybersecurity an absolute prerequisite for every firm.
Cases of cyber-attacks have increased and these cybercriminals have become creative with finding ways of using passwords, networks, and valuable data for users and technology. We have already talked about the challenges of cybersecurity (check the cybersafety 2020 blog).
Mobile devices are at the highest cyber risk, apart from such challenges. Advanced technology that helps customers access any data via smartphones such as emails, bank accounts, etc. Hackers may steal any information once they have access to it.
Top 10 Cybersecurity Trends in 2021
Cloud Breaches
The cloud has moved from business to business, with the Covid-19 pandemic curtesing. The increased trust in public, private, and hybrid data clouds opens the door to new challenges. Because of misconfigured measures, cloud-based security threats make way for stricter security protocols and security testing functions. The growth of cloud adoption means that infrastructure security is stepping up.
Financial Institution
Financial cyber threats are the worst because the monetary loss ends directly. The main objective is to make a smooth process for small banks and businesses acquired by big banks. Instead of losing your data, financial companies are more likely to pay ransom money.
There are so many new creative ways to attack such as Genesis Digital, ATM malware, cybercriminals are successfully stealing and reusing card information. Mobile investment applications are becoming increasingly popular, but some applications are not ready for massive cyber attacks because they have no fundamental protection for users like authentication with 2-factor or pinning digital certificates for communication protection. In fact, cybercriminals have replaced malicious versions of their application interfaces in certain cases.
To implement any application or technology, it is necessary to combine effort and research to ensure it is secure.
In the context of global financial settlements, companies must pay close attention to the latest cybersecurity developments. This certainly applies to Transparent Systems, where cryptographic systems allow for online payment. That trend would not be exceeded by the dynamic BFSI industry.
AI Inclusion
Security experts, developers, and engineers are under pressure to achieve better with lower cybersecurity so that automation and integration across the board are essential. Businesses can effectively manage risk and maintain development quality by incorporating security in agile processes, such as ModelOps and DevOps.
Attacks inside
Verizon’s report says that the misdeeds of internal personnel constituted 34 percent of cyber attacks in 2019. Awesome? Intentionally or unintentionally, employees are increasingly involved in data leaks. Businesses have to prepare their employees’ USB drives to remove massive data to help attacking fraudsters or to follow suspicious links to emails.
Privacy of data
Data roads represent a rampant threat to cybersecurity. For those companies present online, public concern over their data management must be a top priority. The increasing number of breaches of data makes it difficult for companies to ignore concerns about privacy.
The use of third party information for company gains must fall within the following jurisdictions.
• People need to know how to use their data.
• Could not ignore data encryption.
• Persons must have the option to prevent data sharing.
• Companies must inform if a data violation has occurred within a specified period.
Cyber Insurance
A cyber insurance policy must help companies mitigate financial hazards from cyber-attacks in order to protect themselves against cyber attacks. Some US companies have already purchased certain kinds of cyber risk insurance, according to the PWC report, and many are expected to follow.
Security Investment
As businesses become more aware, their cybersecurity budgets will increase in 2021. More security experts across geographies will also be in increasing demand. Demand will go well beyond the supply of skilled professionals, resulting in an expanding skill gap filled by automation, SaaS providers, and technological solutions.
Corporate Sector
Most clients believe that the saved data is secure on Microsoft or Google. But the fact is that the saved data is not covered by attacks in SaaS applications like G Suite and Microsoft 365. This might be due to human error, malicious removal requests, synchronized errors, etc. If more organizations move to the cloud, the cyber threat increases as well.
Cloud providers and IT security providers should review their security policies and procedures on a regular basis and modify them if necessary.
5G Security
5G is the mobile and internet connectivity technology of the next generation. 5 G is a new, complex platform that needs higher security levels. In addition to providing the technological advances of smart cities, smart power grids, and defense facilities as a platform 5 G will make a revolutionary impact.
Blind spots to rob information will be tried by hackers. Or we can see major DDoS attacks or challenges for the protection of a sophisticated connected device network that can lead to a full network crashing if a device is compromised.
Health Industry
The health care sector seems to be learning its lesson after 3 years of Wannacry ransomware disturbing medical establishments and other organizations around the world.
We still see several ransomware attacks in various countries in the healthcare industry. There are three main reasons why cyber attacks like these are:
i. Missing awareness of cybersecurity
ii. The risk associated with digitization is not addressed
iii. The lack of adequate safety measures on IoT devices
2020 was a bumpy year already. These trends suggest that companies must be more strategic if their security checks are to advance. Enterprises in all industries must take advantage of new, growing technologies such as 5 G, Artificial Intelligence, and the cloud. Analyze the potential new threats to their existing technology in today’s cybersecurity scenario and, where necessary, strategically adjust it and consider new technologies to protect against attacks.
Stronger and more sophisticated attackers are growing, but the cybersecurity industry also becomes robust. The important thing is to plan proactive solutions for safeguarding the business.
