In recent years, different organizations have invested a lot of money into securing their IT Infrastructure and confidential information. This phenomenon is attributed to the rise of threat attacks that today’s firms are facing, such as data glitches and malicious cyber-attacks. So, different business entities are trying to match the increased speed of cyberattacks with the complexity of the latest cyber threats and the required security measures.
According to the Director of North-Eastern University’s graduate program of cyber security, Guevara Noubir, whenever a new technology comes up, the wave of possible adversity also comes into the picture. That is why he suggested doing proper scaling of cyber-attacks to see the real scenario.
Nowadays, organizations face cybersecurity challenges along with the pandemic situation. In the report about the future of security at work done by Cisco, around 61% of respondents have experienced some sort of cyber threat in their business which has increased from 25% from the previous year.
If we stay ahead of the security threats in today’s cyber world, then we must go through the emerging trends in this sector.
Currently, so many new devices and technologies are being launched. According to the Business Insider survey, by 2027, more than 40 billion IoT devices will be connected. Cyber-attacks are more common in the IoT sector. So if the Internet of Things cannot protect smart plugs or fitness devices, then those technologies may be vulnerable to cyber-attacks.
In the past, cybercriminals didn't use to get any profit from cyber-attacks. But now the situation has changed dramatically. Currently, ransomware attacks happen quite often and cybercriminals get access to the encrypted data of the victim and demand a hefty amount for ransom. The emergence of cryptocurrencies and ransomware makes it easier for cybercriminals to commit the crime (without penalty) because the payment can be untraceable. This trend of cybercrime has motivated a lot of attackers because of the high monetary gain through ransomware and the level of difficulty in tracking these criminal activities.
Cloud computing has made it easier to connect with your work from anywhere at any time. Business entities use this as their primary storage for data and software applications. This is much more efficient than physical infrastructure. But if you want to utilize this new technology, you will get some disadvantages along with the benefits. The biggest benefits are the huge reduction in operational costs and the enhancement of efficiency. But these cloud services are the major targets for cybercriminals. If you cannot configure and maintain it properly, the attackers can exploit misconfigurations and gaps in security to gain access to sensitive data. So you must utilize an advanced and reliable configuration and access monitoring system to have a full-proof Cloud Service.
Business entities sometimes go through a huge risk of cyberattacks or data breaches because of unsupported legacy systems. Whenever the information technology department tries to implement a temporary solution rather than permanently resolve the issues of legacy system vulnerabilities, the chance for cyber-attacks increases. Technology is changing every moment, which is why legacy systems are “easy” targets for cybercriminals. If you do not keep an updated system, you will be more vulnerable to the threats in this today’s IT landscape.
Due to the COVID-19pandemic, the number of remote workers has increased globally, and remote work will stay in the long run. It is estimated to be around an 87% increase from the pre-pandemic situation. Businesses must be aware that remote work has a lot of cybersecurity risks and must plan accordingly. Cybercriminals are taking huge advantage of the misconfigured security controls in cloud services, hence why remote workers are getting an increased amount of attacks through phishing emails.
Currently, there are many companies that have launched multifactor authentication solutions with password capabilities. This protects web applications against cyber-attacks and data breaches. Suppose you are trying to log into the sensitive system on the company's device. In that case, after entering your password and username, you will receive a text on your phone containing the authentication code. You have to use it to complete the final login into the system. This is an efficient way to protect your account from cyber-attacks. Some authentication methods are so vulnerable that cybercriminals can track them. In 2020, the Director of Identity Security in Microsoft, Alex Weinert, suggested users to stay away from voice or SMS multifactor authentication and depend on the app-based code.
The concern regarding data privacy is increasing globally due to an increase in cybersecurity issues. Cybercriminals attack both company details and consumer data. There are so many privacy-related laws in business organizations, but that is not enough for protection. Data is getting stolen from different places. Cyber-attacks and data breaches have become quite a common way to expose sensitive data, which puts the company's reputation at huge risk. That is why currently, many organizations are implementing data encryption, network security, and password protection systems to strengthen their client’s privacy. They are also hiring a skilled team of cyber security professionals to stop data breaches and secure important company information.
These are the top 7 cyber security trends in 2021 as per the current market trends. Cybercriminals are updating themselves at every moment according to the emergence of technology. Hence, if a company wants to fight against them, they need to be equipped for that as well. The organizations have to recruit experienced people or cybersecurity professionals/consultants to create a secured system as well as handle the situation if any attack takes place. That is the only way by which a company can create a huge layer of protection against cybercrime.