Top 5 Cybersecurity Trends for 2019
Cybercrime continues to evolve with the increasing interconnectivity of our lives
As a blockchain based platform, we are a constantly evolving business that builds our products around the current cybersecurity environment. This space moves very quickly, and as a security platform, we are always striving to rapidly respond to changes by understanding the current movements within the cybersecurity space.
2018 was a big year for cybersecurity — from the introduction of GDPR regulations to the increasingly adaptive methods used by hackers to infiltrate personal and large-scale systems, the cybersecurity space is in need of a strong boost in innovation in order to defend data privacy, data security and data usage. A report from IBM stated that “the average cost of a data breach globally is $3.86 million, a 6.4% increase from the 2017 report.” At such a steep price, scaling up on protection against hackers should be a priority for businesses as well as individuals. As our physical and digital lives become more deeply intertwined, the relevance of cybersecurity will only increase simultaneously.
So, here’s a look at the top 5 trends that we think will take over the cybersecurity space in 2019.
2019 Cybersecurity Trends
Cloud Computing & IoT Complicates Cybersecurity
Cloud computing and IoT (internet of things) have been big buzzwords in the last few years as they increase efficiency in daily processes by moving large amounts of information or devices online. Both of these innovative technologies continue to link more aspects of our lives to the internet whether it be storing data on the cloud or connecting day-to-day devices to the web. While the convenience that is provided by these two technologies is undeniable, the over-connectivity of information and tools also has the potential to expose more data to digital attackers. It will be important to evaluate the security holes that exist in these large, inter-connected systems and figure out how we can best secure powerful, multi-functional online databases.
Malware Continues to Dominate
Malware (which refers to any software/file harmful to a computer) is one digital culprit that has been plaguing the internet since, it seems, the beginning of time. This is due to its ability to infiltrate systems with relatively low costs and high impact. With cryptocurrency trading continuing to rise in popularity, crypto-mining malware will also continue to gain momentum. According to Check Point Software Technologies, 4 of the top 10 most wanted malware it found are crypto miners. It is evident that this will be a growing market and we will need to see an increase in specialized online security to defend against illicit crypto mining through malware.
Personalized Cyber Attacks Take Over
As we become more educated in how to defend ourselves against cybercrimes, scammers have had to refine their attacks in order to target a more cyber-aware user base. Spear phishing, a method of phishing that involves personalized attacks, has become a popular way for hackers to infiltrate online accounts. According to InfoSec Institute, “42% of IT Security professionals consider Spear Phishing to be amongst one of the top 3 cyber-attack concerns.” This is an especially important consideration for corporations because not only are executives are increasingly targeted by attackers, Intel reported that 97% of people are unable to identify phishing emails. This can be extremely costly for companies that hold sensitive data. As spear phishing affects more businesses, it will be crucial for companies to educate employees on the best methods to detect suspicious forms of communication.
Tech Giants to Re-evaluate the Use of Private Data
2018 has been a meaningful year for the protection of users and their personal data. Marked by the introduction of General Data Protection Regulation (GDPR) policy in Europe, tech giants have been prompted by the public as well as government bodies to examine their responsibilities when it comes to user data. Not only will this change the social media landscape in Europe, it will also drive important conversations about the ownership of personal data and the need to protect user privacy. In 2019, this will undoubtedly be a popular topic of discussion and may stimulate the development of decentralized social media platforms.
Adoption of Multi-factor Authentication to Increase
As people become aware of the vulnerabilities within password protection, multi-factor authentication will continue to grow in popularity as the best and most accessible way to add an extra layer of security to personal accounts. However, with the increase in cyber-attacks that occur through taking advantage of the mobile network, we will need to re-evaluate the efficacy of 2FA through SMS. This will bring the involvement of additional factors like biometric data or the use of more secure tools like U2F devices. Protecting accounts through multi-factor authentication will become the first steps people take towards a safer digital experience.
As we look to a more innovative and advanced future, it’s essential to keep in mind the risks we are taking on as we adopt new technologies. We hope that this provides a valuable overview of changes to expect in 2019 so we can effectively protect ourselves and our communities from malicious online activity.
BidiPass is dedicated to make user experiences more secure on any platforms. If you are interested in exploring security options through BidiPass, please reach out to our team directly!
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Written by Renee Yang
