In today’s digital times, cybersecurity is not just an issue for the IT department. It has become crucial for everyone in the enterprise to stay compliant and secure. Risks are no longer confined to just data theft; hackers are now capable of executing highly motivated attacks from anywhere to disrupt organizations of any size. Global threats have escalated the severity of cybersecurity to the next level.
According to cybersecurity ventures, businesses are suffering from cybersecurity threats every 14 seconds globally. Malware infiltration from phishing has been the single largest vulnerability.
Cybersecurity threats are no less for emerging technologies including 5G, AI, and ML amongst others. For instance, AI has already become one of the most widely used technologies. Herein, a majority of businesses have started claiming AI’s efficiency in their business processes. As technology progresses, it will develop more algorithmic biases leading to security blind-spots. This practice has made them clear targets for attackers.
5G will also lead to cybersecurity threats due to the uniform and widespread adoption of the technology. Higher bandwidth will enable hackers to launch powerful attacks at a bigger scale to create greater damage.
In a bid to digitally transform the business process and become more data-efficient, businesses are constantly moving their servers and data to the cloud. Cloud is more efficient and safer, however, there is no guarantee of absolute data security.
For instance, Capital One breach – one of the largest in 2019, affected 100 million Americans and 6 million Canadian credit cardholders. With more businesses becoming cloud-enabled, 2020 is poised to see more incidents of cloud jacking. As cloud attacks become more complex, the complexity of cloud security will also increase exponentially.
Businesses will consider cloud security as one of the key factors to finalize a cloud services vendor.
Internet of Things (IoT)
With millions of connected devices in businesses and households, the global IoT market is poised to reach $1.1 trillion by 2020. From personal assistants like Alexa connected to all the smart devices in homes, to automated robots delivering packages for eCommerce businesses, the global implementation of IoT devices has created a massive cybersecurity threat.
Also Read: IoT Security: Are We 2020 Ready?
Being a new technology, IoT devices come with their own set of risks and vulnerabilities, hence increasing the attack surface exponentially for the hackers. Besides, with millions of devices already connected, security experts are short of time to develop new-age security strategies that are compatible with new devices.
Phishing attacks are one of the common attacks that hackers leverage to compromise a network. Cyber-criminals are launching phishing attacks to mint on security gaps of emerging technologies. According to a report, spear-phishing was one of the most targeted attack vectors of 2019 that affected several schools and businesses.
Given current trends and its sheer effectiveness, phishing will continue to loom over networks as a potential cybersecurity threat in 2020. As per Verizon’s 2019 Data Breach Digest Report, 32 percent of cybersecurity breaches involved Phishing. Several data breaches involved a phishing campaign, after which users are just expected to click on a phony leak to compromise the security of the entire organization.
Also Read: Top 6 Software Security Testing Trends
Impersonating videos or celebrity face swaps, deepfake has become a modern-day meme. But that’s only a fun part of it.
Deepfake leverages algorithms to process video, audio or images of celebrities, politicians and high-level executives. Its deep learning algorithm then can produce fake videos or audios of any person with negligible/ minimal differences. Hence, it has become difficult to make a difference between the real and fake video of the person.
While the above threats are a reminder of ground reality, let’s also not forget the opportunities they present to the digital industry – for example, the world of cloud, AI, ML etc. Cybersecurity mitigation strategies that exist today may not fully suffice the need to build and maintain a safe and secure digital world. Thankfully though, organizations are more cognizant of the need for security testing services, and this evolution and maturity will continue to strike the balance at some point. For now, this remains a crucial business need for organizations to address on priority.