Cybersecurity systems are a massive field evolving rapidly and are becoming one of today’s important technologies. 2021 was a tough year for cybersecurity, especially when remote work became popular. However, ransomware attacks were off the charts.
A ransomware attack is when a hacker encrypts and shuts down someone’s data and then demands a price to decrypt the data. The cybersecurity institute estimated that in the first quarter of 2021, there were three times more ransomware events than in 2019, just two years prior.
It is estimated that in the coming years, many new technologies will be developed, and as a result, some trends will reshape the cybersecurity mesh. Remote work increases the risks of new cybersecurity threats. Attackers use that as a venue to create a sense of urgency to get people to do things they would not usually do.
Especially after the COVID-19 pandemic, e-commerce proliferation has rapidly grown in community marketplaces, social media, and mobile platforms. Even government agencies are using consolidated online solutions for simple things like payment of bills through online banking.
13 Top Cybersecurity Trends
Cybersecurity is continuously modifying. Let’s take a look at some of the top cybersecurity trends:
Ransomware Increases Targeting SMBs
Ransomware attacks are increasing dramatically, which makes it the number one concern on this list. Ransomware is going to become more and more prevalent, especially in the small and medium-sized business market.
Two things are driving this. First, higher enterprise organizations are getting good at monitoring their network and detecting new threats before they can do much damage. There is still a lot of work to be done there, but the environment has improved drastically in the enterprise. Small and medium-sized businesses have not largely implemented any proactive monitoring on their network.
The second key factor driving this increase is ransomware as a service. It used to be a particular hacking organization throughout the largest threat. Now, hacking organizations are licensing their wares and allowing anyone with a few hundred dollars to get their kit and launch ransomware attacks on anyone.
Cloud computing has been around for some time. IDC estimates that the global cloud-based services market will reach over 1 trillion dollars in the next few years. The growth of the cloud is not only a trend, but it is also potentially a concerning area. Experts need to pay attention to this issue because this rapid cloud migration is bringing on a host of new cybersecurity trends, challenges, and opportunities for everyone.
People see cloud security threats that are emerging based on things such as misconfigured cloud storage. We put all the data we create and move it into the cloud. It is great because we have access to it 24/7. It is scalable. We can use it on demand. Anybody can access it as long as we have the proper access control.
If we misconfigure the cloud storage and cloud security, hackers and attackers will get to see our data. That is never a good thing. Reduced visibility and control are outsourcing the access management of more and more of our traditional on-premises infrastructure to cloud services providers.
One more thing to consider is that our data may or may not be completely deleted, removed, or disposed of securely when we leave the cloud’s vendor platform, as incomplete data deletion is a very concerning trend.
A new trend has been on the rise regarding Artificial Intelligence. Some people believe robots will eventually invade the world and enslave us all. Well, it is not happening in 2022. What is happening is that merging cybersecurity with Artificial Intelligence is driving huge growth in the technology sector. It continues to provide huge additional benefits, from informational management and IT security systems.
The latest research shows projected growth in AI in cybersecurity threats from approximately 9 billion annually in 2019 to just over 38 billion over the next few years by 2026. Computers using AI, machine learning, and business intelligence capabilities like data visualization are perfectly suited to do this.
Artificial intelligence can provide threats and allows analysis of threat patterns in emerging data flows and activity on networks that we, as individual humans, are not just capable of perceiving.
More Laws And Regulations
Other cyber threats are increased laws and regulations just when ransomware hits its stride. Now the regulators and lawmakers will get into the act and force the organizations that maintain, especially consumer data, to have a strong security posture, skilled cyber security professionals, and to maintain strong governance around that data.
Almost every developed country will have substantial laws and regulations around data privacy and data governance for consumer-based information.
Extended Detection And Response
It accumulates and corresponds to information that facilitates perception and conditions into progressive hazards streaming through our systems and happening around us. XDR threats can be evaluated, rated, searched, and rectified, enabling us to avoid data breach before it occurs proactively.
But at a minimum, if we can’t get to them before they occur, react to them in near real-time, trying to prevent them from getting out of hand and causing the kinds of global data breaches that companies are wrestling with every day.
So when we think about proactive protection providing unified visibility across multiple stacks of security infrastructure and multiple attack vectors. This is cutting-edge technology that allows us to peer into the vortex.
Data Breaches, Privacy, And Third-Party SCRM
Data privacy and third-party indoor supply chain risk management are becoming more focused, formalized, and disciplines. These are two distinctly different sets of activities. Still, they are merging because the impact of data management and data privacy across an organization is evolving and increasing due to regulatory subordination problems.
The regulatory compliance issues are across multiple levels at the local, regional, federal, and even international landscape levels. We see more compliance regulations taking place. Moreover, there is more interest in understanding, identifying, and managing Personal Identifiable Information (PII) and Protected Health Information (PHI).
As a result, we must comply to ensure downstream and supply chain compliance and those extended supply chains that are direct first-line vendors.
Suppose we don’t have knowledge and visibility into the activities of those providers. In that case, there is no way we, as the primary owner and manager of sophisticated customer data, can be expected to secure that valuable data successfully. The problem is we give access to our system, which has our confidential data, to other external factors without allowing it.
The dual ransom is where a ransomware actor exfiltrates some data and not only encrypts and holds the data hostage but also threatens to release exfiltrated data into the public domain. They are getting even smarter and more aggressive nowadays. They not only hold the data to release, but two additional ransom opportunities have emerged recently.
They hold that data and go to a company’s customers and demand a ransom, or they will release customers’ information to the public. Also, they are doing this to business partners, releasing their information to the public. Through these two opportunities, they get additional returns on investment for their exploit.
Internet Of Vulnerable Things
The abundance of adjoined IoT devices known as the internet of things is expected to attain 18 billion in a year. One outcome is a rapidly boosted potential entrance for criminals seeking entry to hack and conserve digital networks.
This IoT has been recognized as a dangerous assault, which comprises cyberpunks that use affiliated home equipment in routine tasks like toasters and dishwashers to gain entry to systems. From there, hackers access mobile phones where important information could be stocked.
The internet of things is also becoming more and more complicated. Many groups are developing digital twins or comprehensive digital stimulation of whole networks or companies.
These categories are usually associated with operative networks to measure data collected. They may contribute a huge trove of data and entry points to criminals.
In the coming year, we will surely observe a gain in the invasions of IoT tools. Edge computer devices where data is conducted very close to the area where it is obtained and also the primary cloud infrastructure all are susceptible. Awareness is the most useful tool to protect against these vulnerabilities.
Fast Credit Fraud
Frauds related to fast credit purchases are a serious issue. A massive demand of dealers allows clients to purchase before buying, which can be easy to do yet potentially dangerous.
From deposit commandeering to utilizing stolen credit cards for depositing the value, chances are no doubt unlimited. It does not work for dealers to have minimal crime liability with prevailing grants.
Smarter Social Engineering Attacks
Social engineering attacks are not new threats but are becoming more problematic in remote jobs. Hackers target people connected to their employer’s network from their residences because they are easier targets. Cybercriminals mislead users, so they make security mistakes and give away confidential information that can cause financial risk.
Social engineering attacks are harmful because they do not depend on loopholes in security teams and software. Instead, they rely on basic human blunders, allowing them to conduct cyber attacks easily.
There are different forms of social engineering attacks:
- Quid Pro Quo
State Sponsored Hacking
State-sponsored hacking is when people conduct computer network operations with the support of a state. A rise in this hacking has been seen in the last year. It has become an emerging trend and common for cyber attacks to have some form of state sponsorship. Russia is a prime example of this method, as many accusations have been thrown around a lot this year.
In 2019, Microsoft reportedly warned 10,000 people that they had fallen victim to this hacking. These cyber attackers aim to gain their government’s economic and technological advances, usually by gathering intelligence.
Multi-Factor Authentication And Password Management
Multi-factor authentication and password management can decrease the likelihood of being breached by nearly 90 percent. Many data breaches occur because of phishing attacks, either through a text message on mobile devices, a voice or email, and a user clicks on it, or a weak password.
Many phishing attacks can be avoided by using multi-factor authentication and password management. This approach is starting to become mandatory in organizations.
Death By Cyber Attack
Future cyber security threats will evolve with real-world implications, and human lives are at risk due to cyber attacks. Last year in Germany, a homicide inquiry pursued a cyber assault in a hospital in Dusseldorf.
The attack caused a system shutdown which may have been the reason for the patient’s death. It is still unclear whether the investigation will lead to prosecution. But if it works out, it will be the first reported case of someone dying as a direct outcome of a cyber invasion.
Consistent Data Security Law
There are laws to protect sensitive data, prevent active attacks and data breaches, and combat cyber attackers. General Data Protection Regulation (GDPR) is a statement of rights, including the right to rectify, the right to be forgotten, and the right to civil actions. GDPR ensures the right to litigation for damages when personal data is misused or left unprotected.
The Health Insurance Portability and Accountability Act (HIPAA) is also known as Privacy Rule. This ordinance regulates data secrecy and protection policies that protect all patient electronic Protected Health Information ePHI in US medical facilities and report any breach activity and security vulnerabilities. Anyone who violates the policies and procedures will face penalties.
Sarbanes-Oxley (SOX) Act is a compliance requirement for public companies. SOX specifies methods to create and sustain security measures and procedures and conducts a yearly audit to reduce cybersecurity risks and protect investors.
Critical Cybersecurity Skills For Professionals
Safeguarding an institution’s data and IT systems from cyber attacks is difficult. Cybersecurity professionals must have the necessary knowledge and experience in the field. A cybersecurity professional should have:
- Technical skills.
- Understanding of fundamental cybersecurity concepts.
- An analytical perspective
- Soft skills like management and communication.
These are the cybersecurity trends of recent times. In 2023 we may see renewed interest in systems that detect cyber threats and security issues and prevent them.
Many people now understand that online secrecy, safety, network security, and anonymity are incredibly significant. Safeguarding sensitive information at all costs has now moved to the forefront for many. In 2023, many nation-state actors and cybercrime organizations will escalate their interest and activity online. Cybersecurity professionals must be fully equipped to protect sensitive data and IT systems from cyber-attacks.