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Cybersecurity Trends In 2020

Ransomware attacks occur every 14 seconds. Hackers attack every 39 seconds and 2,244 times a day on average. Ransomware and Malware has infected thousands of organizations including government, healthcare and major corporations.

Cybersecurity will be paramount in 2020 and governments will implement powerful security measures.  These are the major cybersecurity trends to watch for in 2020:

The cyber war between the east and west

The trade war between the U.S. and China has sparked a cyberwar that will intensify in 2020. The term cyberwar refers to the use of digital attacks (including viruses and hacking) by one country to disrupt the vital computer systems of another.  Cyberattacks are becoming more intelligent and will prompt nations to strengthen cyber defences around critical infrastructure.

AI increases in popularity

As cyberattacks grow in volume and complexity, artificial intelligence (AI) is helping security operations analysts stay ahead of threats. Artificial Intelligence for cybersecurity grew in popularity after the 2016 U.S. elections. AI will be increasingly used to detect the latest threats and block them before they spread widely.

Attacks on our means of communication will increase

Ransomware, Malware and phishing have wreaked havoc on thousands of companies. There was a 50% increase in mobile banking malware in 2019, indicating that hackers are stealing payment data, credentials and funds of online users.  Ransomware and Malware attacks will increase in 2020 and affect text messaging, social media and gaming platforms.  High profile individuals within corporations will need to take extra precautions such as two-factor-authentication (2FA) and biometrics authentication.

Adoption of 5G and IoT

Global adoption of 5G will intensify efforts to roll out the technology. This will increase the usage of connected devices and edge computing, however, it will only be a matter of time before issues of data breaches surface. Blunders such as hard-coded credentials, insecure wireless communication, unencrypted personal data and unverified firmware updates are considered to be the leading causes of data breaches. The rolling out of 5G will magnify these issues, bringing to the forefront the need for a more comprehensive approach to IoT security to protect the ever-growing networks.

Cyber insurance will become common

The costs of responding to Cybersecurity attacks are steadily rising.  2020 will be the tipping point for cyber insurance.  Companies that do not have the resources to mitigate cyber-attacks will need to buy insurance plans which will include consequences and losses outside the cyber realm.

 

In summary

Understanding what to expect in 2020 will help us to handle these cybersecurity issues as they surface.   If the last ten years are anything to go by, we need to continue research and implement new security measures against cybersecurity threats.

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