TOP 5 Cyber Security Threats to look out for in 2021

Cyber security threats have been a great challenge for organizations always and the year 2020 saw a huge drift in digital transformation of companies. 

During the COVID-19 situation we saw many rapid changes on global level as many organizations adapted to the new normal. But their work is not done. Stepping into 2021 and further, we will face many significant changes with the rise in modern technology and its adaptation.  

With 2021 a few days away, what will be the picture of cybersecurity for the corporates and new normal world, what will be the main threats, risks, and considerations for the upcoming year?  

Here are 5 threats that will affect individual and corporate in 2021 and beyond. 

1) Social engineering attacks

One of the biggest threats to any organization has been the vulnerability of its employees and publicly available data.  

Social engineering attacks are becoming quite common and sophisticated. Hackers are using more clever methods for deceiving employees and individuals into showing vital information of company. Criminal or perpetrator uses psychological manipulation to trick users into making security mistakes or giving away sensitive information. 

2) IoT without security is Internet of Threats

Everyone loves a voice/gesture command to control electronics around them. This does look amazing and provides so much convenience to get their work done. Ranging from making a call to heating the food in an oven but the connected nature of IoT devices could be dangerous to an individual as well as organizations.  

With the 30 billion IoT presence around the globe and its expected increment up to 60 billion in next 5 years, this is going to be a big threat to the world. Most of the IoT producing companies releases the devices and do not pay attention to their updates afterwards, this is where a hacker gains a profit and hacks into devices. 

E.g.: An IP camera can even supply surveillance footage of your home, parking, offices, and workspace. Various locks and IoT devices could allow access to the computers in the same Wi-Fi network thus allowing access to protected data  

3) Ransomware

Ransomware has been a problem for the organization for an exceptionally long time, culprits introduce the malware into system and starts encrypting data of any organization and then ask for heavy amount in exchange for releasing the key for decoding.  

Usually, Indian companies end up losing data. Of course, you should never pay, but companies yet have not implemented a robust audit and plan to protect themselves from this threat. 

There are many solutions that organization are approaching including the advancement of security system, IDS, IPS etc. but machine learning based malware are more advanced and they analyze the behavioral patterns of any security wall and can pass through it.  

ML based malware or botnets are a big threat to the organization in 2021.

4) COVID related exploits

As COVID-19 will continue to chart headlines, news of vaccine developments or new national and worldwide restrictions will continue to be used as a method in phishing activities. Pharma companies that are developing vaccines will also continue to be the target for malicious attacks by criminals and others looking to exploit the situation.  

Medical services are the new and soft target for hackers, usually these services do not pay attention to their network security and database security. A hacker can easily gain access to a network just by having a small talk to staff member (social engineering) or by using tech such as Mirai Botnet and can potentially damage the database and ongoing operations. 

5) 5G calling

With the increment in technology, there is increment in security loopholes. Whereas many services supply is claiming that 5g is one of the most advanced and secured network technologies, latest research shows authentication relay attacks can be used to intercept message, track an individual’s location, and denial of service to a phone from a network.  

Though 5g is promising security at this moment, it will take time to implement it throughout the globe and there are many vulnerabilities in 4g now that can be exploited by the hackers or security researchers.  

Checklist to avoid these Cyber Security threats:  

• Installation of AI-ML based network security system/IDS/IPS. (layered defense)  
• Get a complete IT assessment of organization every 6 months.  
• Training of employees and awareness about latest cybersecurity threats.
• Maintenance of proper BYOD policy.
• Maintenance of data backup to reduce chances of data loss and ransomware exploitation including cloud-based apps.
• Configuration of IoT devices and their updates.  
• Use of multifactor authentication.  
• Installation of upgraded AV at end point.
• Installation of VPN network even for SMBs.
• Practicing an Incident Response Plan. 

Conclusion: Cyber Security Threats to look out for in 2021. 

100% security is a myth, the only systems which are highly secure are either switched off or unplugged, which is an impossible task in this tech dependent world.  

Hackers are developing modern technologies to get into every system they come across and security researchers are trying to overcome them 24×7 365, but as we know cybersecurity is a never-ending process and it is important to find the security loopholes and patch the weaknesses as soon as possible. 

For any questions related to Cyber Security, feel free to connect with us by sending an email on connect@matrix3d.com.