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WITH A SIGNIFICANT AMOUNT OF
CORPORATE DATA IN THE CLOUD,
ATTACKS ON CLOUD PLATFORMS ARE
BOUND TO INCREASE.
Rapid rise of identity theft
Identity thefts are skyrocketing, and
criminals are using more sophisticated,
multistep frauds to grab information
about new accounts. According to one
2017 survey, one in 15 people have
reported being a victim of some sort of
identity theft. Criminals are using SSNs,
home addresses and knowledge-based
authentication question answers to
hopscotch from one kind of account
to another.
Since many two-factor authentication
schemes use cellphone SMS text messages
for logins or password resets, hackers
are working hard to break into cellphone
accounts, which will allow them to defeat
the two-factor implementation. Criminals
are also matching up pieces of various
identities to create an entirely new ‘person’
they can use to apply for credit and steal
money. It is expected that identity theft will
continue to rise in 2019.
Synergistic threats will multiply,
requiring combined responses
General Data Protection Regulation
(GDPR) offers an innovative framework
that the European Union has enacted to
augment data protection requirements with
amplified responsibilities and obligations for
organisations. For global organisations that
fail to adapt to this change, fines for non-
compliance can reach up to €20 million or
4% of worldwide annual turnover, whichever
is greater. By early 2019, around 80% of
multinational companies may fail to comply
with GDPR if they do not understand modern
data protection regulations. GDPR will
almost certainly force many multi-national
companies to be more accountable for its
use and collection of customer data.
www.intelligentcio.com
FEATURE: CYBERSECURITY
Last year saw the rise in ransomware
attacks and cryptojacking, which provides
lower risk and better return on investment.
We have also noticed that fileless and
‘living off the land’ threats are more
slippery and evasive than ever. In 2019,
it is expected that attackers will combine
these tactics to create multifaceted,
synergistic threats. These are becoming
more common because bad actors are
developing foundations, kits and reusable
threat components that allow them to
focus on adding value to previous building
blocks and enables them to orchestrate
multiple threats instead of just one to
reach their goals. Fighting against such
attacks requires questioning every threat.
To guard against cyberthreats, we need
to ask questions such as, “What if we
are missing the real goal of the attack?”
Remember, it is expected that bad actors
will add synergy to their attacks, but
cyberdefences can also work synergistically
to defeat such attacks.
IoT security and attack on
voice-controlled devices
It is expected that we will have 75 billion
devices connected to the Internet of
Things (IoT) by 2025. Hence, we will have
a huge number of devices to secure and
new threats to identify. Both hardware and
cloud-based tools have emerged that can
monitor threats on multiple devices at a
time, but threats can be enormous, often
change in tactics and approach, and are
not always completely understood.
If attackers gain control of IoT devices,
they can create havoc on individuals and
organisations. They can use the device to
mine cryptocurrency or connect them with
similar endpoints to form a botnet, launch
a DDoS attack, steal personal data and
attack websites. To prevent such threats,
IoT security solutions are automating
the detection process, and Crystal Market
Research says that the IoT security market
is projected to grow to over US$30 billion
by 2022.
Increasingly, voice-controlled assistants will
be used to manage IoT devices within the
home. With the adoption of voice-controlled
devices increasing rapidly, cybercriminals’
interest in attacking voice assistant devices
and IoT devices connected to them will
inevitably continue to grow. n
INTELLIGENTCIO
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