Cybersecurity 2020: What You Should Know before Heading into the New Year
The year 2019 showed that no business is immune to security breaches. As network architectures and cybersecurity solutions grow ever more complex, more strain is placed on security teams than ever before. In order to help organizations navigate this evolving cybersecurity landscape, our security experts at Lumu have identified 8 key security trends that will define 2020.
Ransomware slaves
According to the FBI’s 2018 Internet Crime Report, 1,493 Ransomware cases were reported in 2017, which cost each victim an average of US $ 3.6 million. Victims have three options in these situations: pay the ransom and trust that the cybercriminals will turn over the encryption keys, begin the recovery process using a previously established plan, or refuse to pay and begin the data reconstruction process. Each has its pros and cons but providing payment generally has more drastic consequences.
Industry experts advise companies to never make payments to parties holding their systems hostage. However, thousands of companies, crippled by such attacks, have no alternative recourse, becoming easy and recurring targets of attack, and eventually Ransomware slaves.
Greater demand for human intelligence
According to ISC2, there are more than 4.07 million open security positions in the world, with approximately 600 thousand in Latin America. Companies will have to adapt their long term security strategies, taking into account limitations when hiring security personnel.
Adversaries adopt artificial intelligence and machine learning
In 2019, cybercriminals learned how to make greater use of AI and ML. A prime example of this is the use of ‘deepfakes,’ where a video or image of somebody is replaced by someone else’s likeness using artificial neural networks. Initially, this was used for entertainment, but the newest trend is its use for the theft of personal information, only two years after the technology first appeared.
5G and the Internet of Things
The growth of the Internet of Things (IoT), coupled with the implementation of 5G networks, means that system breaches are expected to become increasingly common. The rollout of 5G networks will expedite large-scale DDoS attacks. As organizations adopt IoT, they must develop strategies for responding to device-related threats.
Security becomes a key factor in consumers’ decision making
In 2020, security will be considered when taking into account when purchasing a product or signing up for a service. People are increasingly aware that their data is valuable, and sharing that data with any company requires that it is handled as safely as possible. Consequently, security and ensuring customers’ privacy will be more important than ever.
Regulations for privacy and data protection will become even stricter
With near-daily breaches, governments will be obligated to intervene and enforce stronger data protection policies. Companies might worry about meeting the new standards in order to avoid fines, but are not necessarily safer because of them. Companies should not simply comply with the minimum requirements of the law since in many cases this has not been enough. The US Medical Collection Agency breach, attacks on local governments, along with high-profile coverage regarding possible ransomware in the 2020 election cycle, serve to emphasize that being ahead of regulations was necessary in 2019, and will continue to be in 2020.
The ‘Noise Cancelling’ effect
The cybersecurity industry is complex and capable of overwhelming its users and operators. Practitioners have to monitor thousands of alerts, threats, in addition to keeping track of new developments. This can result in sensory overload, causing organizations to chase after false alarms and draining their resources. In 2020, organizations will have to look past the noise of thousands of alerts and rather focus on the implementation of efficient processes for the protection of their most important assets.