Will it be a Happy New Year for Cyber-criminals?

Will it be a Happy New Year for Cyber-criminals?

2018 was a busy year for the cyber-criminal, there was ransomware, malware and formjacking. Each year the Information Security Forum (ISF) releases its Threat Horizon. So, what does it predict for 2019?

The Threat Horizon has predicted for the last 12 years the threats it sees will arise to attack people’s data. Over the years it has been pretty accurate so here we highlight the key threats it sees for 2019

  1. The Increased Sophistication of Cybercrime and Ransomware
  2. The Impact of Legislation
  3. Smart Devices Challenge Data Integrity
  4. The Myth of Supply Chain Assurance

The Increased Sophistication of Cybercrime and Ransomware

The ISF predicts that criminals will spend a lot of money and effort developing more and more sophisticated ransomware. With mobile devices becoming increasingly attacked via email-based attacks. As we use our phones increasingly to make payments it is no surprise that criminals will target it.

The Impact of Legislation

Keeping up with the latest regulations can be a challenge and costly to businesses and this can impact on their business models.

Smart Devises Challenge Data Integrity

Businesses are adopting the use of smart devices without realising that they are often less secure and offer an opportunity to criminals. As the Internet of Things (LoT) grows rapidly it is not regulated as thoroughly and so allows data to be used in ways customers did not intend. Who knows what information smart TVs, smartphones etc are capturing, if breaches occur then this could be costly for liable businesses.

The Myth of Supply Chain Assurance

Supply chains often have to transfer vital personal data between them. So far organisations assure the security and integrity of the data and its use, but the traditional methods of self-certification may not stand up to the pressures of 2019 cyber-attacks.

In 2017 it is estimated that the global loss due to cyber-crime was $5 billion, however this may be a huge underestimation as it is not easy to calculate. However, much it is it is worth looking carefully at your security to ensure that your money doesn’t add the 2019 total.

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