Whether you love technology, hate it, or fall somewhere in the middle, there is no doubt that technology is becoming more and more part of our daily lives. With an increasing number of people working from home and more companies conducting their business online, our digital world is expanding.
We see an increase in digital activity, but so does criminals’ desire to exploit it, resulting in new advancements in computer security and cybercrime. 2021 is finally here, promising a brighter future – but still, a long way to go.
In this article, we’ll examine five cybersecurity trends in 2021 that will pose some significant risks and offer suggestions on how organizations can reduce their overall risk. In 2021, cybersecurity will be at a crossroads. The risk and rewards of remote work may be managed simultaneously by business owners by shifting staff back into the office. This opens the door to malicious actors.
An attacker is always searching for new ways to evade detection, evade defense measures, and exploit emerging weaknesses, from common compromise vectors to new threats. Cybersecurity Ventures reports that cybercrime costs will increase by 15 percent per year by 2025, reaching USD 10.5 trillion annually, up from USD 3 trillion in 2015.
The risk of businesses being breached by a cyberattack is increasing as they adopt new and innovative technologies to streamline operations.
List of Cyber security Threat USA 2021
1.Applied social engineering
Social engineering attacks are not only focused on technology. The goal of social engineering is to improve human relations. The most prominent instance of it is phishing. An email, a face-to-face encounter, or even a phone call can be used as a method of social engineering.
When a thief steals a SIM card from the victim, the thief commits SIM swapping. Using clever social engineering, the mobile carrier believes that it is dealing with the real customer while they are actually dealing with the bad actor. Bad actors can then control the SIM card and receive text messages and phone calls if they are successful. Social media accounts and cryptocurrency wallets can be accessed using this attack.
Additionally, social engineering can be solely based on social aspects. You might not be dealing with the person you expect to solve your WiFi issues. A company generally makes an appointment up front. When spontaneous appointments arise, it generally makes sense to decline them.
2.Cyber-threats posed by clouds
Increasing digital transformation and use of online collaboration tools in 2020 accelerated the migration to the cloud. Businesses will continue to operate on the cloud well into the future.
Global spending on cloud services is expected to reach USD $1 trillion by 2024, at a compound annual growth rate (CAGR) of 15.7% between 2020 and 2024.
Rapid cloud migrations expose businesses to a wide array of security threats and challenges. There are a variety of issues with cloud-based software that increase cybersecurity risks. These include app vulnerabilities, duplicated data deletion, misconfigured cloud storage, and loss of visibility and control.
3.Small and large businesses alike may be affected by insider threats,
which are lesser known and less visible. Here, any person associated with the inner workings of the organization is a suspect.
57% of all database breaches involve insiders, according to Verizon’s report from 2019!
Since small businesses often have more employees with access to the internal network, they are at greater risk than larger companies. To counter insider threats, it is a good idea to limit an employee’s privileges only to necessary areas.
There are two sides to tracking an employee’s actions. Detecting the bad guys is good, but it creates a sense of surveillance for honest employees.
4.Attacks by DDoS.
A DDoS attack cost companies $100k an hour on average during the first half of 2020, with 4.83 million attacks in total.
Botnets are formed using hacked or malware-infected devices, previously compromised for DDoS attacks. A machine can perform criminal acts and the owner may be unaware of it. AWS, which prevented a 2.3Tbps attack earlier this year, can then be targeted.
Cyber security experts are worried not only about increasing traffic. In order to perform DDoS attacks, criminals now use artificial intelligence (AI). The TaskRabbit app was down for 141 million minutes while 3.75 million users’ data was stolen. It is also possible to use AI to analyze massive amounts of data to find weak spots, particularly if there is a lot of information to consider.
5.Third party software.
There are 1,131 third-party resources connected to the top 30 US e-commerce retailers, and 23% of those assets have at least one critical vulnerability. An application within this ecosystem can be compromised, which opens a gateway for hackers to access other domains. Third-party breaches cost an average of $4.29 million.
80% of organizations experienced a cybersecurity breach originating from a vulnerability in their vendor ecosystem, according to Verizon. Web applications were involved in 43% of the breaches.
6.Ransomware: A new challenge
The threat of ransomware will continue to grow and evolve in 2021 as a top cybersecurity trend. Due to the high costs of recovering from ransomware attacks, organizations suffer economic losses and data theft from these attacks. According to a report on 2020 data breaches, ransomware attacks cost $4.44 million on average as compared to a data breach.
The sophistication of the techniques criminals use is also increasing. Extortion attacks, in which criminals steal data from a company and encrypt it, are becoming more common. Then cybercriminals threaten to release the private information of the company if a ransom is not paid. The burden of this cyberattack is significant because the data is sensitive, and paying the ransom will have an economic impact.
Virtual Private Networks (VPNs) are typically accessed through IT departments and companies’ corporate networks, but VPNs will prove inadequate in 2021 and beyond. As phishing is the most common entry vector for ransomware, organizations should realize that these attacks are on the rise and take action accordingly. As a method of controlling remote access to sensitive data while reducing the likelihood of an attack, Zero-Trust Network Access (ZTNA) has emerged as a more efficient and secure option. By 2023, 60% of businesses will phase out of VPNs and transition to ZTNA.
To minimize the risk of an attack and strengthen your company’s remote access network, transition to ZTNA.
7.Breaches of APIs and API vulnerabilities
interfaces between applications (API) serve as intermediaries. App interoperability is determined by this protocol. From social media to weather apps to instant messaging, APIs work behind the scenes in many everyday applications.
For APIs, the level of security is usually less advanced than for web applications. The majority of organizations fall into this category. Due to the lack of public access, APIs are often unavailable to external developers.
Several companies are expected to become dependent on APIs this year, which will lead to an increase in attacks on APIs.
8.Threats posed by cloud computing
Cloud migration has increased in importance in 2020 as a result of digital transformation, online collaboration, and workforce scalability. Cloud computing will continue to have an impact on business operations in 2021.
The global market for cloud services is expected to reach USD $1 trillion by 2024, growing at a compound annual growth rate (CAGR) of 15.7% between 2020 and 2024.
Business security is at risk due to the speed at which this migration occurs.
Advice for business maker
Creating a culture of cybersecurity awareness and education among the entire staff can strengthen a company’s data protection efforts. A threat cannot be avoided if it hasn’t been recognized, and equipping your staff with the skills to recognize threats will significantly reduce the likelihood of data breaches. Future success will come from ensuring that every role understands cybersecurity risks, and future leaders who instill this will find the most success.
Businesses must approach their cybersecurity strategies proactively in 2021 to be prepared to reduce overall risk. Those who fail to do so will remain vulnerable to the increasing threats we face today. Particularly true as enterprises adopt full-time or hybrid models for remote work, where threat actors have become more adept at infiltrating networks and compromising information.
The growing complexity of cyberattacks will continue to force organizations to devise new methods to protect their data and defend against them. In the new normal of 2021, it’s important to protect all your devices with a cross-platform antivirus program.