The rising crescendo of cybersecurity threats has continued to grab headlines this past year, and expectations for even more disturbing news seem likely as we step into 2020, says a panel of cyber experts offering insights into what they see as their top risk predictions in the New Year.
As more cloud technologies are introduced, the ever-evolving cyber threat environment continues to grow, the IoT universe expands with countless more devices and data storage explosions. Whether companies and their security staff handle this increased risk also depends on their strategic approach to creating a proactive plan of attack rather than relying on a reactive response after an incident occurs. It is a challenge that most CSOs would appreciate to avoid the security blind spots while retaining cyber vigilance.
So, what are our cyber experts expecting in the technology environment for the future of 2020? While the potential threats to the New Year seem infinite, our experts have shortened their list to what they consider to be the 2020 Top Six Cyber Threats.
“We’ll see a spike in IoT device assaults, including smart home devices, home automation systems, and more. We may see new forms of IoT financial cybercrime building on IoT attacks on ATMs and their networks from the first century. Cyber criminals would take advantage of payment services and open banking programs like Google’s plan to offer checking accounts, Apple Pay, Google Wallet, and probably Facebook’s Libra. These technologies will provide opportunities for a new type of cybercrime that uses payment providers of the next generation to hack into accounts and not only access customer data, but also steal funds. On the plus side, we will also see more artificial intelligence-based systems that will help businesses defend themselves. We will even see ideas that were previously thought to be too good to be true, “says Mark Gazit, CEO of Theta Ray.
Srini Samudrala, Infinite’s vice president and chief architect, says that while the IoT revolution is here to stay and this movement will finally deliver on the complete promise of digital transformation in 2020, the risks will also increase. He says that insurance powered by IoT will start to create a paradigm shift in the insurance industry.