While companies are increasingly aware of the importance of cyber security, most struggle to define and implement the necessary security measures. Not surprisingly, privacy regulators are having a hard time catching cyber criminals who violate Internet data.
As awareness among businesses grows, 2021 will see an increase in their spending on cyber security. Demand for this specialty has grown significantly as a result of recent corporate scandals. This qualification will outweigh the supply of qualified professionals, which will lead to a widening of the capacity gap, which will be filled by automation, sauce vendors and technical solutions to meet this challenge.
Here are some cyber security predictions made by experts based on the latest trends and threats in information technology security:
1. New Technologies and Devices
The reasons for the increase in cyberattacks— many times the focus is on protecting against them, says Noubir . The increase in new technologies and new devices is a factor. Business Insider predicts that by 2027, more than 41 billion Internet of Things (IoT) devices will be connected online. The IoT industry has become a prime target for cybercriminals, sending device makers to protect their smart plugs, wearable fitness devices and child monitors from attacks.
2. Increasing Ransomware Attacks
Another major factor contributing to the increase in cyber attacks is monetization. In the past, Noubir says it was difficult for cybercriminals to profit from attacks, but that has changed since then. Now, cybercriminals have increasingly turned to ransomware attacks, or by attackers accessing, encrypting and recovering victims’ data.
“The emergence of cryptocurrencies and ransomware has made it easier for someone to commit a crime and escape from it because they can get money in ways they can’t find,” he says. “[Anonymous Communication Software] has a door that makes it easy to anonymize threats.”
This trend is motivating attackers to commit cybercrime in search of monetary gain, while at the same time it is very difficult to identify and identify these culprits. As a result, there is a growing need for competent cyber security professionals who can implement strategies to prevent these attacks.
3. Attacks on Cloud Services
In recent years, many businesses have adopted cloud-based computing services that do not rely on physical infrastructure instead of allowing users to access software applications, data storage, and other services via an Internet connection. Adopting this technology comes with many benefits such as reduced operating costs and increased performance.
Although choosing such systems can be very beneficial for companies, they have become the target of cyber threats. If these systems are not properly configured or maintained, attackers are more likely to exploit vulnerabilities in systems security and access sensitive information. This is especially important as many companies today rely on cloud services because employees work remotely.
4. Outdated and Inefficient Systems
Finally, Noubir notes that businesses increase the risk of attack or breach by incorporating legacy systems. When ID implements patchwork solutions to solve operational problems, security vulnerabilities can be created carelessly.
As cyber attacks become increasingly sophisticated with rapidly changing technologies, these outdated and inefficient systems become easy targets.
This rapid evolution of cyber security threats requires professionals in the field and those interested in joining them — to be up-to-date on the latest skills, strategies and job opportunities to be competitive.
5. Continued Use of Multi-Factor Authentication
Many companies have incorporated passwords with Multi-Factor Authentication (MFA) for extra security against data breaches and other cyber attacks.
With multi-factor authentication, users must use two or more devices to verify their identities. For example, when an employee tries to sign in to their company’s file sharing service on their laptop, they enter their username and password using their laptop. They then record a text message on the phone (or open the authentication app on their phone) which provides a code. To complete the login, they must enter this code.
MFA is a very effective way to protect accounts and prevent attacks so that cybercriminals can avoid certain types of authentication. In late 2020, Alex Weinerd, Microsoft’s Director of Identity Protection, asked users to opt out of SMS and Voice Multi – factor authentication and instead trust application – based authenticators. Weinert explained that SMS and voice MFA are not encrypted and are therefore vulnerable to attacks. Google Accreditation is a popular option, as are Octa, Microsoft Authenticator, Twilio Atti, Onspan Authentication and more.
6. Increased Interest in Data Privacy
Concerns about data privacy are growing in the cybersecurity world, in the context of consumer and company information. There are various federal, state-wide and international data privacy laws that companies today have to comply with, and consumers are increasingly concerned about how their data is used.
Data breaches and cyber attacks expose sensitive personal information and put consumers and companies at risk. Today’s companies need to consider data encryption, password protection and network security to strengthen data privacy. It is important for businesses to have a team of highly skilled cybersecurity experts to protect their data and protect them from catastrophic data breaches.
7. Threats boosted by artificial intelligence
Cyberatoxes abound, and AI is inevitably changing the nature of these attacks. Some fields are immune to cyberattacks. In fact, the sophistication of the threats facing it continues to increase.
Obviously, computer systems that can learn, justify, and operate are still in their infancy. To trigger it, machine learning requires enormous data sets and many real-world systems, such as driverless cars, require complex combinations of physical computer vision sensors, complex programming and robotics for real-time decision making.
Therefore, while deploying is easy for businesses that accept AI, granting AI access to information and allowing any autonomous right carries serious risks.
The game is expected to change in 2021 as far as AI is concerned. In fact, by 2025, the market value of AI software will be $ 37 billion. Companies that adopt these new technologies, such as AI, underestimate the intrinsic risks. According to an Accenture study released in November 2020, they are really pulling their legs in terms of consistent cybersecurity strategies.
8. Increased social engineering attacks
By 2020, an analysis of Verizon’s 1,600 cybersecurity incidents and 800 violations found that one-third of violations relied on social engineering techniques. Fishing involved 90% of successful attacks. Social engineering attacks include phishing emails, scareware, Quid Pro, and other techniques, but they are not limited to – all dealing with human psychology to achieve specific goals.
According to Cisco, successful spear-phishing attacks are responsible for 95% of violations in corporate networks. In fact, phishing efforts increased by 667% in March, with 43% of workers admitting they had made mistakes that could have compromised their company’s cybersecurity. Cybercriminals are bringing new techniques every day, and 2021 will definitely be another eventful year when it comes to social engineering attacks.
9. Rising Number of Data Breaches & Data Privacy Concerns
It is difficult for businesses to ignore data privacy concerns as the number of data breaches increases. Data breaches continue to be reported as the biggest cybersecurity concern, and this will continue as long as personal data remains a valuable black market object. Ensuring data privacy, especially the protection of personal data will be on the minds of companies. The use of third-party data for business purposes must come under strict regulations. Individuals need to know how their data will be used and have an option to prevent their data from being shared. Important for data encryption. Companies must be notified if any public data breach occurs within a specified time. Since web application vulnerabilities are a major source of data breaches, ensuring web application security has become a top priority for all companies.
10. Mobile Devices as Major Cybersecurity Risk
Covid-19 allows businesses and employees to use their devices for work. The concept of Bring-Your-Own-Device (BYOD) is promoted to reduce costs and increase operational productivity by enhancing employee flexibility through remote work and improving the kick economy. As the amount of business data stored on these devices increases, so does the number of mobile devices used by employees. When the direct commercial impact of mobile malware is low, an increase in the number of data breaches related to mobile device use and misuse can be expected. Every device used to access enterprise settings is another endpoint for security, so one way to reduce risk is to provide access via secure web application infrastructure with real-time vulnerability management.