Cyber Threat Trends to Watch out for in 2021

The emergence of new cyber threat trends requires a state of high alert from companies’ information security. The increase in sophisticated hacker attacks, malware, phishing and cryptocurrencies put corporate data and assets at constant risk.

Experts warn that the cybercrime epidemic calls for the development of new policies taking into account the advantages and disadvantages of technological innovations. In this article, we will discuss the latest trends in cybersecurity threats.

Cyberthreat Situations

The 2021 Threat Horizon report from the Information Security forum suggests an increase in the following cyberthreat situations for an enterprise:

Crashes

Dependence on unstable connections creates the potential for deliberate Internet outages, which increases the risk of fraud through IoT platforms.

Distortion

Deliberate spread of misinformation, including through bots and automated sources, jeopardizes the integrity of the data received.

Deterioration in the quality of work

Rapid advances in smart technology and conflicting requirements of national security regulators are negatively affecting the ability of companies to control their own information pools. This in addition to  individual privacy rules are causing significant decrease in their quality of work.

Trends in Cybersecurity threats

Phishing

The essence of phishing attacks is to mislead customers through carefully crafted digital messages. And force them to click on a link that can install malware or reveal confidential data. This is not a new cyberthreat.

Hackers are turning to machine learning to create and spread false messages. Since many company employees are more aware of the dangers of email phishing or clicks on suspicious links. Such attacks allow hackers to steal user logins, credit card credentials and other types of personal financial information. As well as gain access to private databases.

Ransomware viruses

Ransomware cyberattacks generate billions of dollars annually. As hackers deploy technologies that allow them to steal the databases of individuals or organizations and store the information for ransom.

Cryptocurrency tools help pay ransom claims anonymously. As companies continue to focus on building more robust security against emerging cyber threats. Some experts believe hackers are becoming more active against high-income individuals with poor security for their personal data.

Cryptocurrency

One of the latest cybersecurity threat trends revolves around Cryptocurrency. The movement of cryptocurrencies affects the cybersecurity of the company. Thus allowing fraudsters to hijack users’ home or work computers.

Hackers can make money by secretly tethering to other people’s systems. Since it takes enormous computing power to manage cryptocurrencies. For enterprises, cryptocurrency systems pose a serious cybersecurity threat in terms of increasing productivity and reducing potential downtime.

Cyber-physical attacks

This technology, along with the ability to modernize critical infrastructures, also carries risks. The threat of hacker attacks on power grids, transportation systems, water treatment plants, the military industry and other structures raises concerns in the future.

State-sponsored attacks

Hackers seek to profit by stealing personal and corporate data. Many states today use cyber tools to infiltrate other governments and launch attacks on national systems. In addition to government agencies, new cyber threats put the private business sector at risk in areas that are closely related to national interests, according to the Thomson Reuters Labs report. Often it is about the exploitation of natural resources.

Attacks on the IoT (Internet of Things)

According to Statista.com, by 2025 the number of devices connected to the Internet of Things will reach 75 billion (Article “IoT – Connected Devices Installed Base Worldwide From 2015 To 2025” for Statista, 2016).

As the tech industry advances, so do the trends in cybersecurity. Many companies use connected gadgets to save money while collecting and organizing data, which optimizes business processes.

However, the large number of connected devices makes IoT networks more vulnerable to cyber intrusions and virus attacks. Hacker-controlled IoT devices can be used to create chaos, overload networks. Or block essential equipment for financial gain.

Intelligent medical devices and electronic medical records (EMR)

The healthcare industry is still adapting to the digital age, which poses a number of privacy concerns. Therefore, the latest trends in cybersecurity suggest that the more devices connected to hospital networks, the more vulnerable patient data becomes.

Another cyberthreat is the risk of remote hacking of a device that is directly connected to the patient. An attacker could theoretically increase or decrease doses of drugs, send electrical signals to a patient, or disable vital sign monitoring. The medical records of patients are almost completely online and serve as the main target for hackers because of classified information.

Third Parties

Third parties have always been one of the most vulnerable to cybersecurity threats. Suppliers, contractors and partners pose a huge risk to corporations in the absence of a security system or dedicated team to manage third-party employees.

According to the RiskManagementMonitor.com Security Risks of Third Party report, about 60% of data breaches are related to third parties. And only 52% of companies have developed and adhered to security standards for third-party vendors and contractors.

Semi-autonomous vehicles

These cars use built-in sensors to optimize their performance using a smartphone connected to it. For hackers, this evolution in car manufacturing and design means another opportunity to exploit vulnerabilities to steal sensitive data or inject malicious drivers.

Lack of cybersecurity specialists

With cybercrime escalating, most companies and governments are trying to hire skilled professionals to protect their institutions’ data and assets. It is assumed that this trend will continue after 2020. At the same time, according to the 2019/2020 Official Annual Cybersecurity Jobs Report, there are about 1 million unfilled IT positions in the world. The number of which will increase to 3.5 million by 2022.

Summary

Thus, digital transformation allows companies to reduce time spent on routine tasks and  allows for more meticulous data analytics. Additionally, digital transformation provides a qualitative revision of the digital protection policy for  personal information of employees and confidential information of the enterprise.

Also, the growing number of cyber-attacks requires close cooperation with regulators and stakeholders. However that alone is not enough. The involvement of competent IT specialists in the company’s departments is also important to ensure maximum enterprise security.

Check our various articles about cybersecurity:

Types of phishing domains you should blacklist

Vaccine manufacturing & distribution companies are falling victim to spear phishing

Zoom phishing scam aims to steal login credentials

Business email compromise (BEC) – 2021 Cybersecurity Problem