Top 6 Cybercrime Trends for 2020
Updated: Mar 1
More and more of a business' infrastructure is moving online. As technology keeps evolving at an ever increasing pace, newer forms of cyber threats are also emerging. This is making businesses and government agencies vulnerable to cyber attacks and data breaches in which sensitive information can get leaked. Political interference and state-sanctioned cyber crimes are also not uncommon.
Cybersecurity is unquestionably a growing matter of public concern. Being aware of the latest cyber crimes and cybersecurity trends can do wonders to keep cybercrime related damages to the minimum.
Here, I am going to do a comprehensive discussion of the top 6 cybersecurity trends and issues that you need to keep an eye on.
1. Increase in Ransomware Attacks
Ransomware continues to be one of the greatest threats on the web today. Ransomware attacks doubled in 2019 compared to the previous year and the trend will continue this year as well as cybercriminals discover code innovation and newer, more targeted attack approaches. There are several advanced decryption tools available on the market to combat these types of attacks.
2. Artificial Intelligence Will Play a Key Role in Both Cybercrime and Protection
Artificial intelligence is the latest tool that is impacting the cyber security landscape. While governments of enemy states are deeply researching and developing AI t
o cripple each other’s civil and army infrastructure, terrorist organizations and criminal gangs have also started leveraging the power of artificial intelligence for fraudulent activities.
So, it’s not just about the war against countries but also the race between phishers, hackers, crackers and data thieves. And to join in this race, cybersecurity experts have also arrived in the battleground to tackle the threats using AI-driven weapons. Since artificial intelligence can learn to identify patterns of cyber attacks, it can also learn to disguise the same behaviour and combat these attacks.
Thus, the simultaneous development of offensive and defensive capabilities of AI systems will become widespread, more available, and simpler to deploy. From
denial-of-service attacks to spam email attempts, everything will grow in complexity as well as frequency. Similarly, defensive AI technology such as deep learning security algorithms, biometric identity protection, system automation, etc. will make their way into the mainstream.
3. Development of 5G and Adoption of IoT Devices Will Further Expose Your to Security Threats
5G carriers such as Verizon are riling up customers about the new technology. As 5G networks roll out, we can expect a dramatic increase in the use of IoT devices. This will result in a massive rise in vulnerability of the network to multi-vector fifth generation cybe
This is because IoT devices and their connections with the network and the cloud are still quite weak and will not be able to manage ever growing personal data that needs far stricter security against theft and breaches. To deal with these issues, we will need a m
ore holistic approach that combines both traditional and modern access controls to protect these networks across various industries.
4. Rise in Vehicle Hacking
The cars of today are like moving personal data reserves. They are fitted with a range of GPS devices, in-car communication systems, sensors, and entertainment platforms th
at make them an increasingly attractive target for hackers and data thieves.
Cyber attackers have already learned to access personal networks through interconnect smart devices and home appliances owing to the lack of security protocols among several device manufacturers and home service providers. Similarly, in the coming years, your car will increasingly become the choice for criminals to gain access to your personal information and to your day-to-day lives. Attackers will also have the choice to either target our auto
mobile or the cloud services where our personal data is sent regularly for storage and analysis.
The idea of hijacking self-driving cars may seem far-fetched at the moment, but it’s a serious threat that is already worrying car manufacturers as well as law enforcers.
5. The Cybersecurity Skill Gap Will Grow
Hackers and phishers are clearly not stopping, so businesses will have to co
me up with cybersecurity strategies to stay in businesses. This is creating a skill gap and the deficit will become a growing matter of concern during the first half of the new decade. From 2014 to 2020, the number of unfilled cybersecurity job positions has increased to 3.5 million from just 1 million.
Unless there are sufficient skilled professionals to counter the threats we face today such as political disinformation campaigns created to disrupt democratic processes and data thieves becoming increasingly equipped to carry out data breaches, we will not be able to stay ahead of cyber attacks.
Therefore, there is going to be a greater need to invest in training existing staff on ways to prevent or mitigate cyber attacks as well as hiring experts with the right skills to detect emerging threats that can make industries lose millions of dollars. Until 2019, the average loss that a company suffered from, as a result of a data breach, was around $8 million. The cost dropped to $2.6 million for companies that had fully automated cybersecurity systems. The implementation of such mature defense systems also requires a
n equally skilled workforce and that will become a challenge in the near future.
6. Mobile Devices Become a Greater Target
The emerging cyber threats and the increased use of mobile devices makes for an ideal combination for cyber attackers. With the ever-growing number of mobile users, there is a rise in employees routinely accessing corporate data and applications through their devices. This gives hackers an opportunity to override conventional secure email gateways. As soon as they gain entry into your devices, hackers can steal and manipulate your business data easily. In addition to that, phishing emails, insecure WiFi connections, and mobile spyware further increase the risk of data breaches.
There’s hardly a day that goes by without a data breach and cyber attack being reported. We hope that these cybersecurity trends help you make the right decisions when it comes to investing in defence mechanisms and technology.