From the Equifax data breach to the global WannaCry ransomware outbreak, 2017 saw some of the biggest cyberattacks in history. What these high-profile security breakdowns prove is that even some of the largest organizations in the world are vulnerable to the rising tide of online crime.
By anticipating the threats that will define the security landscape in the years ahead, you’ll be able to prepare your business for almost any eventuality. With that in mind, let’s look at some of the new, fast-emerging threats for 2018.
#1. Crime-as-a-Service Will Cause a Surge in Cyberattacks
2017 was the year of the ransomware, a form of malicious software developed by skilled hackers but distributed across the Dark Web so even unskilled criminals can participate in fleecing companies around the world.
This phenomenon is referred to as Crime-as-a-Service (CaaS), and it will no doubt dominate the next few years thanks to its highly organized nature and ransomware’s ability to imitate many of the ways legitimate companies do business.
Although ransomware has been the primary form of CaaS up until now, it’s likely that it will expand to incorporate a variety of other forms of cyberattack. Phishing kits are among the most serious of those, relying on social engineering tactics to bypass companies’ security protocols. With phishing kits at their disposal, criminals will be able to launch attacks with a few mouse clicks and nearly no technical skills themselves.
Malicious software is now being sold on the Dark Web in much the same way that legitimate developers have been selling their products and services online for years. Other organized criminal threats that will no doubt proliferate in 2018 include exploit kits, criminal phone banks, and distributed denial of service (DDoS) attacks.
#2. The Internet of Things Will Create More Vulnerabilities
Many organizations are starting to implement Internet of Things (IoT) devices with great enthusiasm, owing to the many benefits they provide in retail, marketing and production. At the same time, few people realize just how vulnerable many of these internet-connected devices are. For example, this year’s KRACK WiFi vulnerability was an example of how hackers can easily pose a serious threat to any secured wireless device.
Although the IoT ecosystem is rapidly evolving, there’s no doubt that it will continue to bring further cybersecurity concerns to the table. After all, the proliferation of these devices adds tons of potential attack endpoints, thereby making cybersecurity auditing and tracking much more complicated and time-consuming.
On top of the security concerns, there’s also the lack of privacy to consider. This comes from the lack of transparency in products that use vague terms and conditions and makes it possible for IoT vendors to capture confidential data and create another area of attack opportunities.
IoT is already a valuable tool for business, but to ensure your business can keep up with its security and compliance obligations, you must choose your devices wisely and use only the ones you really need. Creating a separate network for such devices will also help to reduce the attack surface.
#3. Government Regulations Will Add to Cybersecurity Complexity
With online security and privacy now being one of the most important concerns of the modern world, regulations are forcing organizations to take further measures to safeguard confidential customer data. 2018 will also see the enforcement of the General Data Protection Regulation (GDPR) in the European Union, which will also concern any organization outside the EU that serves EU citizens.
Any business targeting or planning to target international trade in the near future can expect to see increasing complexity when it comes to satisfying legal obligations in different countries. Fortunately, many mainstream cloud services, such as those offered by Microsoft and Amazon, are already well on their way to providing full, integrated support for GDPR legislation. However, that certainly doesn’t mean that companies can afford to rest on their laurels and assume that their existing systems are fully compliant.
Ensuring the safety of your digital data has become one of the greatest technology challenges facing modern businesses. That’s why Level 5 Management is here to help protect your organization with our comprehensive security solutions. Call us today if you’re ready to prepare your business for future threats.