Top Five Cyber Security Predictions for 2020

The New Year will bring with it new, evolved cyber security threats. Experts will have to pull out their full arsenal of tools to meet the challenges head on and, better yet, develop evolutions of their own to stay a step ahead of cyber criminals.

Here are our top five cyber security concerns to prepare for in 2020.

1. Phishing

Phishing attacks are going to be a top concern for organizations in 2020. New types of phishing tactics are being introduced every day. And these are becoming more sophisticated, as hackers study and adapt to corporate and consumer online practices. In particular, expect the prevalent use of malicious links sent via email, as well as the infiltration of digital wallets and direct money transfer apps in committing financial fraud.

According to a report released by Verizon, phishing is the number one method used in data breaches (32%). It is important to note that almost half of those attacks (43%) targeted small businesses. To avoid unnecessary headaches and sleepless nights, security professionals must stay vigilant. In 2020, enterprises will look to bolster their email security and Identity and Access management to promptly detect and thwart such attacks.

2. AI-based attacks

There is no doubt that digital technology, such as Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (ML), is helping businesses reach the next level of growth. Unfortunately, it has become clear that these technologies can also be weaponized to accomplish cyberattacks. In the coming year, we will see attackers leveraging AI, IoT and ML in new and innovative ways. Hackers will run AI on stolen information to build stronger attacks. AI, in combination with malware, will enable hackers to manoeuvre around security defences. Sophisticated techniques such as AI-enabled spear phishing will allows criminals to launch phishing attacks at scale for greater success.

According to predictions by Gartner, more than 25% of enterprise attacks will involve IoT. It is generally agreed that 2020 will see the highest numbers ever of AI-based cyberattacks.

3. Ransomware

Taking a victim hostage until ransom is paid has taken a digital turn. Cyber criminals are becoming extremely savvy at taking control of victim’s computers by leveraging automation and Trojan variations. Already, we’re seeing evolved and targeted ransomware attacks, using DeepFake technology. Criminals will especially target industries that handle critical customer data, such as healthcare, government, and banking, among others.

Cutting short the detection time for ransomware attacks will be a primary focus for security experts in 2020. In most cases, detection of such attacks can range from a few hours to a few days—long enough to allow for significant damage. The focus in the new year will be to minimize ransomware attacks rather than play catch up.

4. Third-party data breaches

Attacks along the supply chain will be a major challenge for businesses across the spectrum. Too often, third-party vendors employ inadequate security measures, leaving businesses extremely vulnerable to cyber criminals. By hacking third-party supply chain vendors (and their access rights), criminals gain access to the critical data and intellectual property of businesses.

According to Symantec, supply chain attacks were up by 78% in 2019, and this trend will most certainly continue in 2020.

5.   Cloud security incidents

Predictably, companies are seeking to build efficiencies and save costs by utilizing the SaaS online software delivery model. That means, in the coming year, more companies than ever will migrate their data. In fact, Forbes reports that 83% of enterprises will move to the cloud in 2020. The result: increased exposure of business-critical data.

Unfortunately, information in the cloud will become a gold mine for hackers. Cloud security incidents will be the root cause of countless data breaches. In response, cloud providers will look at ways to further strengthen their security, while businesses will aim at gaining better control of their data in the cloud.

In closing

A status quo mindset will not work in 2020. As technologies evolve, so will the number and types of threats. These predictions can help companies boost their security by having their arms and ammunitions ready to counter any ambush by cyber criminals.

 Oldrich Muller, Chief Operating Officer, AnyDesk