Top Cybersecurity Threats To Watch Out For In 2021

Top Cybersecurity Threats To Watch Out For In 2021

Cybersecurity threats have skyrocketed since the advent of the COVID-19 pandemic. This year has seen the nature of attacks shift away from from theft to become even more dangerous.

Cybercrime will cost the world $6 trillion by the end of 2021, and this number will keep growing to $10.5 trillion by 2025.

 

In this post, we’ll delve into top cybersecurity threats to watch out for in 2021:

Double-extortion ransomware

In past years, criminals have used ransomware to encrypt the data of different businesses. They then demanded that a ransom must be paid before the data is decrypted. However, with the rise of data backups, businesses don’t have to pay a ransom, as they can use a copy of their backup.

However, cybercriminals have developed a new way of ensuring that the business pays up. They use double-extortion malware. Criminals encrypt your data, but instead of simply deleting it if you fail to pay the ransom, they post the sensitive data online or auction it.

In 2021, a business will fall victim to a ransomware attack every 11 seconds. By the end of the year, businesses will use up to 420 billion to deal with ransomware damages.

Zero-day attacks

This term refers to the fact that a software developer or vendor has just learned of a flaw in their software, and they have zero days to fix it.

A zero-day vulnerability means that an attacker discovers before the vendor or the developers. This means there is no patch for the vulnerability.

Hackers take advantage of zero-day vulnerabilities to cause damage or steal information from the affected software. They will use social engineering to trick unsuspecting victims into downloading malicious software that steals their data.

Large-scale zero-day attacks are becoming more common. More than 23,000 vulnerabilities are discovered each year, making it difficult for businesses to keep up with the patches.

Criminals are also quick to act on vulnerabilities. They develop an exploit within a week of its discovery while businesses take about 100 days to apply a patch. In 2021, we have already witnessed several zero-day attacks, such as DearCry taking advantage of Microsoft Exchange server vulnerabilities. The trend is likely to continue for the rest of the year.

Remote and cloud attacks

A new wave of digitization coupled with the coronavirus pandemic caused many people to work from home in 2020. Companies were forced to quickly implement cloud technology and set up collaborative spaces. Since most of these measures were knee-jerk reactions to the restrictions put in place to fight COVID-19, they did not give much thought to security.

Most home networks are not nearly as secure as corporate networks. This made the problem even worse, because it created an avenue for criminals. Hackers easily gained access to a company’s cloud infrastructure by attacking their employees’ home networks.  This trend is likely to continue in 2021, as most companies are yet to fully move back to their premises.

5G enabled swam attacks

The introduction of 5G will bring on a new era for cybercrime and cybersecurity. With the high-speed network will come an increased threat of sophisticated swam-based attacks.

In a swam-based attack, a large number of devices get infected at the same time. These devices are divided into subgroups. Each subgroup has a specialized function or skill. The swarm bot then attacks other devices and networks while sharing information in real-time.

This is an especially dangerous kind of cybercrime because it is combined with AI technology. The swam bots can use AI and data exchange to correlate, discover and share vulnerabilities and adjust their attack strategies accordingly.

Final word

When it comes to cybersecurity threats, prevention is better than cure. The only way to be truly safe is to take preventive measures before a hacker discovers you. At Fizen Technology, we help you gain better visibility into what is happening across your network. We give you real-time alerts and thereat detection. All our solutions are powered by proprietary, custom, and cloud-based technologies to ensure that all facets of your business are taken care of.

If you would like our team to help you secure your business and guard against such cybersecurity threats, contact us today.

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