Cyber Security is the protection of the integrity of data, files, network, and programs from cyber-attacks and unauthorized access.
As per Forbes, the global cybersecurity market is expected to grow to 170 billion by 2020.
Hackers today are way smarter than the breakers and they figure out ways much faster for destruction. With a new year we have new threats, what could these be?
- Ransomware: Last year has seen the worst of Ransomware attacks and the ever-lasting effects of it. The biggest example of the past years being the NotPetya ransomware attack to FedEx-owned TNT, which made the company in operational. The damage was huge and affected the TNT business, bringing it to an abrupt halt. Ransomware is exactly the same as kidnapping somebody and asking money in return. Here in place of a person, it’s your data which is as good as an individual or maybe more useful! (Evil laugh). Bigger giants have it all ready to fight against them, it those tiny little trinkets who will have to bear with it.
- AI-Based Attacks: Know that neighbourhood kid who always comes up with new ways to bug you, AI does the same to your data. AI software can learn from the past event and develop defense mechanism to avoid such attacks again. But today the experts are worried that the attackers may develop ways to enhance the attacks using AI. For example, AI can assist hackers to decode passwords by providing probable passwords based on demographics.
- Social Media Threats: Social Media=Facebook. Remember those pop-ups with all those stupid games asking to fill your information and showing your marriage dates? They are a trap! They just take the information out of you and when you are least expecting it, bam, they attack. Though this is anticipated for future it has actually started happening with the recent security breach accepted by Facebook.
- Cyber-Physical Attacks: What if your local bus or metros come to an abrupt halt? Simple, you can have a rainy day and there’s no need to go to the dreaded place- office/college. Hacks affecting the public domain and transportation system are likely to take place in 2018. They will either cause the destruction of systems resulting in shut down or will act as the ransomware and ask for monetary benefits to resume the services.
- Mining Crypto Currencies: Wherever there is money there is an attack. Bitcoin holders are at an all-time high-risk today. The concept being a new one is prone to hacking. To get these currencies you need to solve complex computer algorithms, and as this grows, hackers too will develop interest towards finding out more ways to breach this information.
With the enforcement of GDPR- General Data Protection Regulation in Europe on May 25 th , 2018, data protection seems to be becoming a global need. The regulation will force companies to take faster action in reporting a data breach to customers. By failing to report data breach within 72 hours, they will be penalized up to 20 billion euros or 4% of the revenue, whichever is higher. The regulation is required in other parts of the world as well to reduce the cybersecurity risk.
You need to be prepared and have a defence mechanism ready to deal with Cyber criminals, as you sure cannot avoid it.