[BreachExchange] 10 of the Biggest Cybersecurity Threats to Watch for in 2017

[Audrey McNeil]

https://medium.com/@KeithKrach/10-of-the-biggest-cybersecurity-threats-to-
watch-for-in-2017-b4a53d5968ba

One of the greatest challenges in the digital landscape is security. New
technologies enter the market on a regular basis, bringing with them
unforeseen weaknesses that can easily translate into data breaches or
similar threats, which result in an average $4 million setback for
businesses. Because remedying these issues is vital, companies that can
deliver security solutions will thrive.

Cybersecurity efforts to safeguard against increasingly sophisticated
hackers and other cybercriminals grow more and more complex each year. In
2016, innovation drove record-setting levels of cybercrimes, leading to the
coining of the term hacktivism. Based on careful analysis of these issues,
leaders in the digital space predict the following security trends for 2017:

1. Cross-industry collaboration will grow.

The growing need for greater security capacities will necessitate
collaboration across all areas of society, including businesses, government
agencies, and academia. By sharing their ideas and concerns, organizations
in these sectors will boost their strength and efficiency as they tackle
security issues from a variety of standpoints. High-performance computing
and machine-learning adaptability hold the most potential for helping these
joint forces preempt cyber-attacks.

2. Ransomware will present a greater threat.

Ransomware is software that infects a digital device or system, locking it
down until the user meets the cybercriminal’s monetary demand. In the past,
people used this malicious approach to target a single individual or
company. However, advances in technology might soon enable ransomware to
affect hundreds of victims in a surprisingly small amount of time. This has
led some to believe that ransomware attacks could multiply by 25 percent in
2017.

3. IoT will be a bigger target for hackers.

When the Internet of things (IoT) first hit the market, developers and
industry leaders anticipated security threats in one form or another. This
concern remained largely a matter of conversation until the 2016
Distributed Denial of Service (DDoS) attack on Dyn. Cybersecurity is now a
pressing reality for IoT — one that will likely expand this year.

4. Internal attacks will outpace perimeter ones.

Businesses and organizations have built up strong defenses against external
attacks, but in doing so, they have left internal points of access
vulnerable. As a result, hackers are finding ever-more advanced ways to
enter systems with credentials that appear legitimate. As a result, hackers
can gain access to data and target individuals in a way that makes them
appear to be a coworker or supervisor of that person.

5. Mobile security threats will continue to increase.

In connection with IoT-related threats, mobile devices, especially those
owned by individuals of influence and wealth, will become even more
vulnerable. Estimates project that roughly 4 percent of all devices have
already contracted malware. This doesn’t just affect the user of the
device, it also impacts his or her employer, given the prevalence of
company phones and tablets in the workplace and the general lack of safety
protocols regarding their use.

6. Chip-enabled cards will shift fraud dynamics.

The development of credit and debit cards with chips for cybersecurity
have, in one way, achieved their purpose. Fewer and fewer instances of
fraud occur at the point of sale. However, hackers have redirected their
attention from card cloning to creating fraudulent accounts by means of
identity theft. This illegal activity may become a $20 billion industry by
2018.

7. Hacktivism will continue to spread.

The act of breaking into a computer system to further one’s political
agenda is called hacktivism. One recent example of this activity is the
hack of the Democratic National Committee. From now on, businesses and
organizations that openly sponsor or endorse controversial social issues
will not be the only ones at risk for these threats in the future. Neutral
entities must also take certain safety measures, especially as many attacks
will likely take place on a smaller scale than the hack of the DNC.

8. Hacking tools will be more accessible than ever.

One of the driving forces behind the need to step up cybersecurity
protection is the simple fact that hackers can pick up the trade with
little-to-no experience. In fact, many individuals who purchase tools for
breaking into systems have no idea how they actually work, only that they
do. Such off-the-shelf approaches present an expanding threat to
businesses, which also ironically face shortages in qualified IT personnel.

9. Cyber insurance will gain value.

As companies develop heightened security strategies in 2017, cyber
insurance will undoubtedly figure in to many plans. Insurance for
cyber-attacks will help offset the costs of repairing reputations with
customers and enable them to recoup the revenue losses from the negative
media that usually accompanies such misfortunes. Importantly, companies
that insure others will have to provide custom coverage plans to meet their
clients’ specific needs.

10. Businesses will invest proactively in cybersecurity.

Network and data security will be paramount in 2017, and companies will
likely dramatically expand their spending in these areas. IT departments
will bolster their efforts in every imaginable way, including increased
video surveillance. Further, the position of chief cybercrime officer, or
CCO, will grow more widely recognized.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.riskbasedsecurity.com/pipermail/breachexchange/attachments/20170330/85760673/attachment.html>