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Cybersecurity threats are ostensibly ubiquitous in this internetworking infrastructure. Internet-based technologies and their revolution with intend to increase efficient connectivity came up with severe challenges in the form of attacks. This digital world, no surprise will be prone to high-frequency diverse attacks in the near future. From end-user devices to database and internet data centre servers, all are equally vulnerable to cyberattacks. Whether they are increased software and hardware fragmentation that makes the system vulnerable and easy for cybercriminals to exploit or bad actors in the system who act malevolently in the systems, cyber-risks are not going anywhere.
Therefore, it is crucially important to stay a step ahead of malicious elements to shield the systems better, integrate security, and protect sensitive information, as well as organization reputation concurrently. An assessment of threats dictates the cybersecurity trends to emerge this year. The following are some cybersecurity predictions for 2020.
Major data breaches
The year 2019 hunted with data breaches badly that is expected to continue in the year 2020 as well. A major data leak is predicted to happen in the cloud. However, some cloud services use security tools and algorithms to protect the system from a data breach, but it is not sure whether they take assistance from third-party or have their built-in tools. However, in 2019 huge data breaches occur varying from Orvibo, whose database leakage compromised 2 Billion people, TrueDialog Data Breach that affected more than 1 Billion consumers, leakage of 4 billion social media profiles and many more. Collectively about 1200 total data breaches are recorded in the previous year. More will be flooded in the year 2020 due to easy availability of data on the online web and insufficient account verification measures that could make credential-stuffing and identity theft fraud easy for hackers.
Frequent use of biometrics for authentication purposes
Taking into account the number of data breaches and uncontrolled access being a major cause of cyberattacks, biometric authentication will be used in online platforms to authenticate each onboarding entity, instead of using traditional identity authentication methods such as PIN/password authentication. Using unique biological traits of individuals in the form of facial recognition, biometrics will be penetrating the security industry to fight against the security issue of unauthorized access over confidential data. The biometric sign-in system will be integrated with online systems in 2020, to authenticate each identity.
In the year 2020, the duties and role of a Chief Information Security Officer (CISO) will be redefined to provide updated strategies and techniques to protect the network against cyberattacks. In generating higher revenue, CISOs will be playing an important role by revamping the approaches towards cybersecurity. Awareness will be given in companies and businesses to protect their confidential databases against severe cyberattacks.
Artificial Intelligence will be harnessed
Businesses will be taking advantage of technological advancements in the year 2020 by deploying Artificial Intelligence solutions and replacing human effort with machines. AI-based algorithms are used to streamline business operations. Not only this, but fraudsters will also be using AI techniques to forge the online systems and fool them. While moving with the pace of businesses, hackers will be using innovative ways to commit attacks and exploit weaknesses in the system. Now we would have to see whether machines will be protecting themselves better or techniques of fraudsters will be stronger.
Artificial intelligence can also help in customer identification in online platforms using facial recognition technology and a strong algorithm to fight against the spoofing attacks of online users and identifying individuals with better precision and accuracy. AI will also be used to probe the entire network, detect vulnerabilities and to develop a strong traffic screening system.
Attacks on IoT devices
The Internet of Things (IoT), in the year 2020 will be prone to major data breaches. Although minor attacks have already seen in the previous year but being IoT penetrating into various industries, it could be a hunting spot for cybercriminals. These attacks can take down a huge network of connected devices, attack the central hub where all the data is transmitted or even data can be tempered in transit. The year 2020 could be tough for the IoT industry.
High-frequency supply chain attacks
Through malware and malicious executable injections, attackers will attempt to supply chain attacks by accessing the legitimate software supply chains. These attacks will be targeting third-party service providers and software vendors during the phase of software development. The level of supply chain attacks will increase attempted in more sophisticated ways in a huge volume. The year 2020 could be tough for dealing with supply chain attacks and malware would be hard to remove from the system even if they are formatted.
5G network security
5G networks are the latest cellular network technology that introduces high-speed internetworking services having a high data rate and bandwidth. The infrastructure that supports 5G networks will be prone to vulnerabilities that could be exploited by attackers. Bad actors in the networks will be forging them through maliciously programmed IoT devices. 5G supply chain is sensitive with respect to malware and poor hardware and software design. Hence, the year 2020 could leave a negative impact on the 5G network when it will be compromising highly confidential data and response against the triad of information security i.e. confidentiality, integrity, and availability.
Ransomware Targets Clouds
Ransomeware targeted major platforms with virulent pulls against industries. In the year 2020, ransomware will be focusing on the cloud. Businesses that are moving all their data to clouds and servers are highly predicted to get attacked with ransomware. Moreover, the businesses adopting IoT technology and opt to secure all the data over the cloud can be prone to such attacks. Virtual environments and databases lie in the same category.
Multi-Factor Authentication will Reside in Mid-sized Enterprises
In 2020, mid-sized companies will be using multi-factor authentication methods. It is due to major data breaches that took place in the dark web in millions in which unauthorized access to the major reason. Ensuring multi-factor authentication deters the risks of uncontrolled access over user accounts and confidential databases. Moreover, online users that use insecure passwords can be protected from several cyberattacks.
Multi-factors authentication methods were considered a long and complex process for users that resulted in increase process abandonment rate but now it has got streamlines. Using biometric authentication methods and SMS-based authentication, the process ahs got frictionless which can be seen with the high adoption rate by mid-sized market.
Card-not-present fraud will increase
The emergence of e-commerce will stay the same or may increase in the coming years. Fraudsters are using innovative ways of attacking this industry. Among those, Card-not-present (CNP) fraud will be the most common in the year 2020. CNP fraud is expected to reach 14% by 2023 which will cost retailers about $130 billion. Omnichannel shopping attacks will be rising by stealing the user credentials across these channels.
‘CASE’ concept will arise
Connected, Autonomous, Shared, Electric (CASE) trend will be emerging. With the rise of 5G technologies and IoT devices that promote the highly interconnected networks and the use of open-source software, bad actors will be exploiting weaknesses in the network. Malware injection and attacking the backend systems, mobile applications and their infrastructure and all autonomous technologies will be highly prone to attacks in 2020.
Evolution of smart cities
Smart cities will be harnessing embedded technologies and cybersecurity. The development of smart cities using smart technologies will continue to grow in 2020. Using innovative solutions to real-world problems such as traffic control, lighting, safety operation, and mobility solutions, smart cities will be formed. However, cyber-attacks such as malicious executable injection in remote transmissions will also be noticed that will impact the daily life of millions.
Automation in cybersecurity defenses
Aginst cybersecurity defenses, advanced technologies and algorithms will be used. Through Artificial intelligence and neural networks based underlying technologies, automated systems will be developed that will differentiate the traffic in the network and allow only honest nodes to communicate and deny requests from unauthorized ones, AI-based technologies will be automating the cybersecurity defense systems in 2020.