Experts warn that the job of protecting companies and customers’ data may get more difficult as we are preparing for a whole new decade and for the year 2020 specifically. With the increase in cyber-attacks, we discuss security specialists’ cybersecurity forecasts and indicate which sectors and system areas are at the most risk, and what kinds of attacks to expect below.
Phishing attacks will persist
Experts agree that phishing attacks will continue to plague companies and it was reported in Europol that spear phishing is frequently aimed at EU companies. Jeremy Hendy, CEO of Skurio is of the opinion that companies should prepare for fraudulent CEO attacks imitating communication from trusted executives through well-crafted emails. This is normally the result of leaked email credentials available on dark web marketplaces which leads to more specific and credible phishing emails used for account takeovers (ATO’s). The emails look authentic and usually request urgent fund transfers from unsuspecting victims.
Cyber attackers will focus more on SMEs
Small to medium-sized firms will be put at risk in 2020 since skilled professionals will be increasingly difficult to retain. Hendy explains that pulling market forces will put the option of full time, in-house and high salaried security specialists out of reach of many smaller businesses. Security risks will be caused by under-resourcing, and creative, affordable service-based solutions need to be sought.
Another potential security risk identified by Jason Cort, director of product planning at Sharp UK, is connected printers used by small and medium-sized businesses to solve printing problems. Cort explains that small and medium-sized businesses should be vigilant and aim to understand, implement and maintain security because multi-functional printers become digital hubs rather than standalone devices which pose serious security risks. The ‘it won’t happen to me, I’m too small’ stance is “dangerous and naïve”. Although there is a greater awareness and understanding of cybersecurity, a significant number of small to medium sized businesses still need to come to the table.