Cyber Crime Trends to Watch For

Bookmark and Share

2017 was marked by the commonality of Healthcare breaches in line with retail breaches; increased spending on security services and automation, and IoT devices falling prey to cyberattacks. 2018 was predicted to have a rise in sophisticated cyberattacks, as stated by Forrester Research, a leading cyber research organizations. The following is a list of the top cybersecurity predictions for 2018 to help cybersecurity professionals stay at least one step ahead of future attacks — let’s see how close these predictions came to reality.

1. Identity VerificationCyber Crime Trends to Watch For

No single entity can safeguard identity data, just recall the Equifax Breach, impacting 145 million consumers. Identity verification is paramount, and Forrester predicts the expansion of these services to large banks as well as the opportunity for customers to use bank issued log-in credentials to access government services.

Considerations

Find a reputable identity verification provider that will prioritize compliance and security in handling your data.

2. Invasion of Privacy

Increased lawsuits of invasion of privacy violations as companies increase the internal monitoring of employee data. Regulation agents will increase oversight on organizational violations of mishandling employee data as well as employee privacy violations and customer violations.

Considerations

Vet policies for employee monitoring and train employees on the potential violations.

3. Election Fraud

2018 Midterm Elections could be compromised by Cybercriminals. The federal government continues to lag in addressing the systemic vulnerabilities found in its voting systems, and the software it relies on to cast, count, verify, and report the votes. Hackers can easily manipulate voting results without ever having access to the voting machine, through web-accessible software.

Considerations

Advocate through increased awareness of voter fraud for a new voting system.

4. Blockchain

Increased use of Blockchain in Venture Capitalist funding and Security. Blockchain technology allows for digital information to be distributed but not copied. As the popularity cryptocurrencies increases, there will be a greater need for individuals with financial crime specializations, like the program in Fraud and Financial Crime Investigation offered by Utica College. Records are public and are not housed in any specific location, leaving it virtually incorruptible. The data is shared and transparent. According to Vitalik Buterin, “Blockchain solves the problem of manipulation…” “Forrester predicts blockchain will become a foundational technology for: 1) certificate issuance and authentication; 2) Identity Verification; 3) malware and ransomware protection via binary reputation checks; and 4) document authenticity and integrity verification,” the report stated. “Those are just the immediate use cases.”

Considerations

Ensure your security vendors have Blockchain solutions

5. Ransomware

Breaches in Point of Sale Systems with increased ransomware use. Cybercriminals are hip to organizations attempting to secure customer data with the use of end-to-end encryption, but attackers are moving beyond the motivation of merely stealing and selling customer data to holding organizations ransom to obtain payment for restoring their systems and data.

Considerations

Establish policies and procedures to back up all systems daily and hire essential cybersecurity personnel to establish strong data recovery systems.

6. IoT

Internet of Things devices are increasingly becoming more vulnerable to attacks, to line the pockets of the attackers. Whether politically, socially, or financially motivated, these attacks leave personal data more vulnerable in the process. IoT privacy breaches will likely rise in 2018.

Considerations

Evaluate security gaps such as default passwords and weak encryption methods and assess your organization’s readiness to address these measures.

Looking Forward

Cybersecurity professionals are tasked with the increased pressures of protecting data and systems in a continuously changing digital landscape while undermining the efforts of corrupt cybercriminals armed with sophisticated methods and tools. These predictions and actionable considerations can assist cybersecurity professionals to take a proactive stance for what is surely to come to more organizations in 2018. To learn more about educational options in cybersecurity and start your path to defending data, click here.

2018-11-28T18:46:12+00:00Categories: Uncategorized|Tags: , , , , , |Comments Off on Cyber Crime Trends to Watch For