Cyber security is very crucial field in this digital age. As long as you continue using the internet for various purposes, you will definitely have to keep an eye on security. In fact, cyber-attacks can have detrimental effects. Think of the amount that has been lost and other persons who have exploited this avenue to carry out their inhuman acts. Every year there are failures, success as far as cyber security is concerned, and certainly, 2015 was not, an exception. There were improvements that need to be concentrated in the year of 2016 among other aspects in this field. This article has put together the hot cyber security trends predictable in 2016.
Internet of Things:
The internet of things has become dodgy where attackers can steal government or personal information in order to demand ransom. It is expected that mercenaries, hacktivists, and even terrorists will go through this route in 2016. This is expected, as many IOT devices have not enough OS capability or memory capabilities. One major concern is the escalating number of smart devices that lack the basic security features. Think of those coffee makers, refrigerators, baby monitors, cars, wearable and many others those are usually owned by people who are prime targets for attacks as such devices gather personal information and lack basic security.
To prevent IOT attacks, enterprises should scan for unsafe configured device. Simple Service Discovery Protocol (SSDP) used for discovering network services should be limited to specific networks. The device should have updated its OS to patch SSDP vulnerability.
Hackers have stolen credit and debit card information many times therefore, privacy and safety has become an issue. It is figured that the card fraud will reach beyond $19 billion in near future. However, it is too early to gauge the impact of EMV, chip or PIN technology. These novel technologies require strong security on payment infrastructure level and if it is not implemented properly, then poor security measures can offer attackers a chance to exploit old configured devices.
Use of EMV cards and digital wallets such as Apple pay and Goggle wallet will decrease POS fraud and use of bogus credit cards. EMV cards include a secure microprocessor chip to keep information in a secure manner as well carry out cryptography process while making payment. Even card issuer carries security credentials that are stored in EMV card’s chip. This credentials help to prevent card cloning.
Extortion attacks and public shaming have arose in 2015 and expected to continue in 2016. Ransomware attack that lures users, fall them prey to victim and force victim to pay extortion money. The idea of Ransomware attack would likely to continue in 2016 year. Cyber criminals are always in mood to steal private pictures, information and customer lists in order to shame their targets. Talk of using data as a weapon, so expect sites and other digital platforms to be breached with the sole aim of executing extortion. Hackers will use fear factor as a solid tool as it was proved effective in the past year.
The solution of ransomware or extortion attack is to back up the data on regular time. Enable hidden file extensions in Windows default behavior. Even use of Cryptolocker prevention kit may help to disable file running from App data and Temporary directory.
To end this issue, periodically monitoring of software and applications is necessary and update them all with the latest version as hackers can take advantage of outdated software and applications.
Social Media turned into E-Commerce:
Social sites have now making it possible for users to buy and sell over social media with simple clicks of a few buttons! These platforms have given a chance for criminals to exploit internet base. Expect more of this in 2016! It is not yet finalized that what will be the security level, these social sites will provide to their user base. Moreover, hackers will consider social media for financial gain and conduct fraud transactions. There will be a tough competition among E-commerce companies because of arrival of social media into online business, which seem ripe fruits for hackers.
We have seen that passwords authentication concept is growing in current years. However, hackers have already tested their hands on password breaking tools. Even, unawareness of users regarding their passwords also made password guessing risky. In 2016, techniques that are more sophisticated and have great chances to replace password techniques, which are Geo-location, Bluetooth proximity, bio-metric, and pictographs.
Besides novel password techniques, password-changing habit can be useful as many sites like banking, financial alert users to change their passwords.
Most organization store their data in the cloud. Intellectual, customer and employee data are all found in the cloud. The sad thing is that those “bad guys” are always working hard to get access of this crucial information and use them maliciously. This trend is expected to hike to a completely new level as more and more companies move to cloud computing. Security experts expect that these attacks will take the shape of hiding behind legitimate network sources to execute attacks e. g the use of credentials and imitating cloud login screens using computation infrastructure.
Cloud provider should use encryption while handling data in cloud. Additionally, cloud provider should follow PCI DSS compliance to ensure the level of protection.
Organization need to transfer their IT risks to a third party. Cyber insurance sector is going to boom in upcoming year since many companies are realizing that insurance is the surest way during these tough times. Insurance helps to reduce the effect of crime especially when the loss involves a lot of money. After all customers are ready to commit where they know there is some advantage somewhere! It is expected that cyber insurance companies will disagree passing the claims that caused due to ineffective security practices. Even nature of cyber-attacks can also make a challenge for insurance companies to predict risk factors while passing the claim.
Organization should take security initiative on urgent base. Employee awareness about best security practice is worth considering option to avoid confusion in cyber insurance claims. Additionally, best security policy should be implemented and monitored in organizations. These practices can decrease the chance of failing of cyber insurance.
Cyber-crime and criminals keep on mutating every time. Proper infrastructure should be implemented from time to time. Training personnel should be on top of the list since a good team will be able to read the attack patterns and come up with the right strategy and vision to oversee the security over the internet. Every SMB require a security though, it is challenge, the struggle continues.