Some of the biggest cyber breaches in recent history occurred in 2017, and data belonging to thousands of businesses and millions of consumers were hacked. The major cyber-attacks in 2017 include the WannaCry ransomware infection, and the stealing of personal data from Equifax, Chipotle, Forever 21, and different social media sites. Experts have projected that by the end of 2017, spending on information security would have reached $864 billion. The 2017 Cyber-crime report projected that by 2021, damages from cyber-crime would cost the global economy $6 trillion per year.
The increase in the prevalence rate of cyber-crime is expected to continue through 2018, and businesses and individuals need to protect themselves from falling victim. This article examines IT security in 2018, and the five major security issues.
The most popular conception of hackers is lone individuals working in a dingy place for personal gain. This has changed because cyber-crime is turning into black market services provided to businesses, countries and individuals with the aim of harming or embarrassing the victims or rivals.
The provision of data breach services could lead to the emergence of new sophisticated malware, Trojan and phishing programs in IT security in 2018, as hackers advance their communication and coordination techniques. The provision of cyber-attack services in the black market could also see budding hackers purchase malware programs that enable them to carry out cyber-attacks without technical knowledge.
- An Increase in the Prevalence Rate of Crypto-Jacking
As 2017 ended, there was an increase in cryptocurrency related crimes, and this trend is expected to continue into 2018, encouraged by the appreciating value of cryptocurrencies. Experts have noted that it is difficult to differentiate a normal internet user and a cyber-criminal whenever it comes to cryptocurrencies. An individual could be mining cryptocurrencies for his/her own wallet from visitors to his/her website. The same individual may engage in crypt jacking and it would be difficult to tell. For example, cases of individuals holding vast amounts of a specific cryptocurrency, and manipulating the market for their own benefit have been reported, and the trend is expected to continue through 2018.
- Ransomware In Cloud Computing
In 2017, a number of ransomware attacks were reported, with the most notable ones including the attack against Britain’s National Health Service, the breach against light-rail network in San Francisco, and attacks against major corporations such as FedEx. Ransomware is a type of malware that compromises defense and shuts down computer files using advanced encryption. Hackers using ransomware demand money in exchange of the digital keys to unlock the computer.
Criminal hackers like to use ransomware, and then demand payment in cryptocurrencies that are difficult to trace. Experts project that in 2018, the most preferred target for ransomware attack will be businesses in cloud computing. Big corporations have already hired the best minds in digital security to prevent any attacks. However, smaller companies are likely to fall victims to criminal attackers using ransomware.
- Internet of Things (loT) will Create More Risks
Businesses are increasingly adopting loT devices, but most of the devices lack a secure design that ensures IT security in 2018. Organization need to know the risk associated with using loT devices because loT ecosystems will face more security threats in 2018. The major security threats loT devices face include:
- Lack of transparency on how the data captured by loT devices is used The manufacturers have access to the data captured using loT devices, and could use the data in ways not approved by customers.
- Businesses face the risk of litigation if data is stolen from their loT devices.
- Industrial attacks could quickly result in physical damage and loss of life, if the hacked loT devices were used to
control industrial processes and machinery.
- Manufactures launch new loT devices regularly and this means that the older versions are ignored in terms of upgrade and firmware, and this exposes them to new security risks.
- Hackers Will Target Security Software
Cyber-criminals will focus more on compromising security software in 2018. Security software are trusted programs, and by targeting security software, hackers will have the ability to control devices and manipulate other users. As attacks through security software are reported, public trust in the software, especially antivirus solutions will deteriorate.
Justin Dolly. (Dec 2017). Top 5 cybersecurity concerns for 2018. https://www.csoonline.com/article/3241766
Thor Olaysrud. (Nov 2017). 5 information security threats that will dominate 2018. https://www.cio.com/article/3237784/security/5-information-security-threats-that-will-dominate-2018.html
Ben Canner. (Dec 2017). 5 Major Cybersecurity Threats 01 2018. https://solutionsreview.com/security-information-event-management/1107-2/
Martin Giles. (January 2018). Six Cyber Security Threats to Worry About in 2018. https://www.technologyreview.com/s/609641