2020 Predictions: 7 Ways Cybercrime Will Increase This Year

As cyber attacks continue to evolve, cybersecurity ventures predict damages will surpass $6 trillion by 2021! Cybercriminals are projected to become the biggest threat to humanity as the threat of cybercrime to business keeps mounting by each passing day. The days of just simply having a cloud antivirus to protect your business are over as cyber warfare accelerates exponentially!

Cybercriminals are using common cyber attacks, such as distributed denial-of-service (DDoS), to breach user privacy. The outcomes of these attacks have been staggering! In 2018 alone over 4.5 billion records were breached, up from the 2 billion that were compromised in 2017. But the question here is, what does 2020 hold in this prevailing situation?

Let’s look at the most straining cybersecurity issues rising trends in 2020!

 

Phishing Kits Are Evolving

The majority of phishing sites stay online for 4 to 5 hours which allows them to be one of the most successful attack vectors. Since it is deemed low-risk activity, only 17% of the users report phishing attacks. This underreporting has caused only 65% of all URLs to be considered trustworthy today. It also puts an added strain on both the enterprise and the customer.

Moreover, new phishing kits are available on the dark web by the dozen that allow individuals with just basic technical skills to run their phishing attacks. Inevitably phishing will become one of the deadliest attack methods in the world of cybercrime as these tools become more accessible.

 

Hidden Weak Spot for Cyberattacks

With the number of remote cyberattacks rapidly increasing, it has become more complicated than ever to stop cybercrime. A recent remote access attack took place in 2018, where attackers targeted cryptocurrency owners and caused irreparable damage their industry. Moreover, remote access attacks commonly target smart homes as hackers gain access to computers, smartphones, IP cameras, and NAS devices. These tools are often vulnerable because they require ports open and advanced to the internet.

 

Malware Attacks on Smartphones

According to RSA, more than 60% of online scams are accomplished through mobile platforms and 80% of mobile frauds are done through mobile apps instead of mobile web browsers, making smartphones one of the most frequently used attack vectors. As most of the people use their phones to manage financial operations or handle sensitive data outside the security of their home network, this threat is considered quite severe. Furthermore, users often tend to keep all of their information on their smartphones, which is why two-factor authentication is currently becoming one of the most widely used cybersecurity tools – if your phone gets stolen or lost, your data is still protected from possible threats.

 

Cyber Intruders Attacking Smart Homes

According to Gartner, the consumer Internet of Things (IoT) industry is expected to surpass 7 billion devices by the end of 2020. Since a substantial part of IoT devices doesn’t have a user interface, many consumers don’t see them as a vulnerability. This could also raise questions like what kind of data the device collects or manages?

Here’s the answer! IoT devices aren’t just collecting valuable user information. They can sometimes become a gateway for an attacker to start a distributed denial-of-service (DDoS) attack. These devices are not secure by design, and focusing on security would dramatically increase the manufacturing and maintenance expenses. Based on CUJO AI threat intelligence data, 46% of attack types experienced by these devices are remote access attempts while 39% are used for detecting behavioral patterns. These threats are likely to increase as the trend of connected devices at homes also skyrockets.

 

How does artificial intelligence help?

Many big industries around the world have already adopted machine learning (ML) and artificial intelligence (AI) to automate their processes and enhance their overall performance. Cybersecurity and cybercrime are no exception! AI is often seen as a dual-use technology. To prevent threats, many cybersecurity companies are implementing AI-driven algorithms however, hackers are also seizing the opportunity to become more effective.

A big part of AI qualities serves malicious purposes. AI systems reduce the abrupt morality around cybercrime and are low-cost, flexible, and automated; providing both physical and psychological distance for the attacker.

 

AI for cybersecurity evasion:

Cybercriminals use different evasion techniques to dodge detection and AI helps in optimizing different elements of this process.

 

AI in phishing:

When it comes to phishing, AI helps in creating valuable content that can pass through typical cybersecurity filters, like email messages identical to those written by humans.

 

Conclusion

With new advances in AI-driven technology, exploiting AI in cyberattacks will become a more popular and dangerous trend than ever. Therefore, this year is expected to be a turning point in the cybercrime world, as the cyber-risk will exacerbate and affect every business and individual.