Cybersecurity Predictions For 2020 That You Must Not Ignore

Cybersecurity Predictions For 2020 That You Must Not Ignore

In the digital era, new technologies and techniques accelerate at a rapid pace, and no wonders your cybersecurity defense need more support than ever. Over the past years, we have seen cybercriminals gangs become much more sophisticated, and it will continue to target organizations and individuals all around the globe. According to the global market insights report, the global market size will surpass $300 million by the year 2024. It is quite essential to secure our private information as it is more vulnerable than ever before. 

As the year 2020 is here, so we have a list of some standard cybersecurity prediction too that is going to happen in the year. Cybersecurity solutions that worked nicely in 2019 may not necessarily work in 2020. we believe, if you are aware of cyber risks, then it may be easier to protect yourself from numerous hackers, malware, and viruses. Here, in this article, we will discuss some cybersecurity predictions for 2020 that you must not ignore. It will be quite interesting to see what cybercrime has in store with it : 

Hackers will be Supposed to Target the 2020 Voter Registration Systems During the 2020 Elections

As we already know, the 2016 U.S. Presidential Elections were not the fair one, and election hacking happened so, we can predict the same about the upcoming 2020 elections too. Hackers will try their best to target the state and local voter databases as their main goal is to create voting havoc and triggering voter fraud alerts during the 2020 election.

Healthcare Security could Top the Charts in 2020

In today’s world, almost everyone health insurance. In the year 2020, we can see a massive rise in healthcare insurance that opens up the possibilities of fraud in this sector. For hackers, this sector is one of the most comfortable areas to hake as it has no apparent loser insight so, we can predict in the year 2020 healthcare fraud could see an enormous spike.

Businesses will start Allocating more Towards Cybersecurity Budgets

According to the findings of EYs’ Global Information Security Survey’, approximately more than 70% of Indian companies are supposed to increase their cybersecurity budget as cybercrimes are growing in huge numbers. As the demand is so high, we can predict in 2020; the cybersecurity budget is also going to increase.

Read Also: Cyber Hygiene the Best Practices Wish You Knew Earlier

Privacy and Security Risks will become Reputational

Without any doubt, privacy and security breaches will have financial or technical impacts. It includes credit/identity theft insurance, monetary losses through fraud, consultant’s fees to investigate the breach, costs of communicating to affected customers, the well-publicized regulatory fines, PR costs, legal fees as well as marketing costs to repair a damaged customer relationship.  

The businesses will know the importance of their companies’ reputations and started valuing because this is something that can be irrevocably damaged. This is not only limited to security – this could be because of environmental impacts, labor practices, service shortcomings, paying taxes, or boardroom tangles. “Data steward” – or how carefully people’s data is to treat people’s increasingly a part of corporate social responsibility. This is something that can never be ignored. An increasingly energized citizenry is part of a new reality that calls for new rules for managing brands and reputation. An increasing rate of consumer boycotts, activism, and social media means then it will be tough for brands to recover from failures – and this increasingly energized citizenry power brings corporate failings. It will continue to be a factor in 2020. 

Scarcity of Skill will Continue

A year is too short to bridge the skills gap, such as in cybersecurity. It is a long term challenge!

The demands for skills are not for “security” only but for those who have a comprehensive view across cyber risk and the areas elsewhere in the business to which it relates. There is a high scarcity of multi-skilled individuals, and it will become particularly evident in the short term as cyber risk interfaces quickly with audit, marketing, compliance, and other business functions. 

In 2020, Expect to see the demand for the security team for various needs- 

  • The demand for security teams that understand the broader business risk landscape (as well as security risk management)
  • For privacy and security managers that can shape their strategies in terms of marketing and reputational endeavors.  
  • For IT staff that can understand the point of view of audit (and vice versa). 
  • And, for cybersecurity operations teams that will understand and see audit as a beneficial determiner, rather than an overhead. 

Managed Security Service Provider (MSSP) market will grow more

The Global Managed Security Services Market is expected to exceed more than US$ 58 billion by 2024 and will grow at a CAGR of more than 14.5% in the given forecast period.” By MarketWatch. We don’t see this trend abating soon since businesses increasingly struggle with growing cyber threats. Small businesses are not able to deal with advanced and organized cyber threats, and often their technology is outsourced to hosting companies, development teams, cloud providers, etc. Security monitoring, threat detection, and incident response follow the same model. All MSSPs will want to grow their business – that means finding more customers (and hence having keenly priced entry-level services) and having a portfolio of value-added services they can offer on top. So this market growth will bring increased importance & focused on the role of the MSSP with an escalating no.of new and existing customers as well as SMEs. The adoption of MSSP services will continue to grow because they are the last, first, and the only line of defense from cyber attacks. 

Also Read: Redefining Blockchain Security

Insider Threat will remain a significant one

Insider threat is one of the significant factors concerning cybersecurity. According to the U.S. State of Cybercrime Survey, Insider threat continues to be a problem with approximately 50% of organizations. This threat will continue to remain a significant one in the year 2020 too.

The third-party attack will rule the roost

Hackers are always looking for the easiest way to infiltrate into computer networks. Third-party supply chain attack is undoubtedly considered as the most favorable way to infiltration so, and we can predict the third party attack is going to rule in the year 2020 too. 

Bottom line

In security, we often talk about the ability to see threats coming, or to detect attacks, or to gain better oversight over the activities on our networks and the systems we protect. It is all about perceptibility. Putting efforts into detection solutions, AI, reporting, and dashboards mean that marketing teams will be unable to avoid the temptation to draw pictures and write copy linking that ambition to measurements of human vision. 

Parangat Technologies can provide you with the ability to threat model successfully with mobile, web, IOT-embedded applications, AWS and Azure. Contact us to speak with an application threat modeling expert today.

Cyber Hygiene: The Best Practices Wish You Knew Earlier

Cyber Hygiene: The Best Practices Wish You Knew Earlier

We live in the digital world, where life is surrounded by digitalization in one way and another. And It’s a fact that living standards had got much easier with the evolution of technology. But do you aware of the other side of the digitalization? Like a host of threats, including hackers, viruses, data theft, and data loss, & how it can turn your lives upside down. Let’s understand in simple forms like in life, hygiene is important in the same way cyber Hygiene is important. But what is cyber hygiene? Well, It refers to the practice of maintaining system health and improve online security. So let’s discuss the best practices for cybersecurity services.

What is Cyber Hygiene?

Before getting into how to practice cyber hygiene, let’s get a brief idea of what is Cyber Hygiene? it is a set of obstructive measures that you can take to make sure your data is safe online. For example like human beings take care of their teeth by flossing and cleaning regularly, in the same manner, computers require good cyber hygiene. Which helps to keeps IT systems operating smoothly without any hassles. If the computer will be functioning in the best way data will be safe. This can secure valuable resources and deliver a great customer/client experience. So it’s very important, to maintain cyber hygiene on a regular basis to help you spot security loops. And then you can close security gaps before they can be exploited.

Some of the most complex Security threats are hacking, viruses, malware, spyware, and data theft. And it getting wickeder day by the day, and they have the potential to bring your business to its knees. It’s just like a human body as long you maintain good personnel hygiene you can stay healthy. In the same manner, you can stay ahead of threats and minimize their impact on your business with solid cyber hygiene routines. 

Common Cyber Hygiene Problems

Lets address What can be the major cyber hygiene problem, Enterprises often have multiple elements in need of cyber hygiene? All hardware (PC, Cell-phones, connected devices), software programs, and online applications used should be included in a regular, ongoing maintenance program by cybersecurity services providers. Each of these systems has specific vulnerabilities that can lead to different problems. Some of these problems include:

Common Cyber Hygiene Problems
  • Data get lost: It is very common to lose data when it’s not backed up or maintained on a hard drive or online storage. And this is a major reason behind the loss of information. That information is vulnerable to hacking, corruption and prone to other problems.
  • Data gets misplaced: In the modern enterprise misplacing of data is common because of so many places to store data. But you can lose data because of poor cyber hygiene. And so this adds one more cause to the list of cyber hygiene problems.
  • Breach of security: With the increasing use of the cyber world. It gets easy for an intruder to become a threat to all enterprise data. Phishing, hackers, malware, spam, viruses, and many other threats exist in the modern threat landscape, which is constantly in a state of flux. A System gets damaged & data get lost in an early stage violation because of a security breach.
  • Out of Date Software: The primary cause of data loss is when software gets out of date. To keep Software applications run smoothly, it should be updated regularly. The updation software security ensures the latest security patches. So keep in check that software didn’t get out of date. As out of date software is more vulnerable to attacks and malware.
  • Older Security Software: As the Cyberworld is gaining more popularity, threats for security also increases. we must have updated antivirus software and other securities just to keep pace with the ever-changing threat landscape. As Outdated security software without an update, can’t protect the enterprise against the latest threats. Now let’s talk about what this cyber hygiene look likes in practice. 

Keeping Good Cyber Hygiene Habits

Though cyber hygiene isn’t ironclad protection, it’s important to act securely with these ten tips:

  1. Maintain an inventory of hardware and software on the company network.
  2. Develop a method for software installation by end-users. Which includes limiting the installation of trusted software or prohibiting and blocking all installation without prior approval from IT.
  3. For practicing good cyber behavior, make sure to keep a strong password and change time to time, identify potential phishing efforts, and which devices to connect to the network.
  4. Distinguish vulnerable applications that aren’t in use and disable them.
  5. Regularly back up data and keep multiple copies. Contemplate using a secure cloud solution as well as on-premise.
  6. To help organizations set items like password length, encryption, port access, and double authentication. Opt for industry-accepted secure configurations/standards like CIS &NIST Benchmark.
  7. Keep hard drive clean.
  8. Employ device encryption.
  9. Restrict the number of users with administrative privileges.
  10. Upgrade infrastructure and systems.

That’s quite a lot, I know! But you get habituated as you start practicing regularly. It will help to provide a shield to the laptop and most important to cell phones from spyware, trojan horses and other cybercrime.

There is no deniability that how mobile phone apps had captivated our day to day needs, so it’s important to make sure that our data stored on our cell phone apps stays safe. As data can be used negatively through your cell phone apps. So whenever you download the app, make sure that the app has a phone built-in security key. Or if you are going to convert your idea into an app, and you wish to get success, make sure that your mobile app development company uses a built-in security key, so that users feel secure when they download your app.