With the growing interest in cryptocurrency and other technologies, hackers can launch well-funded attacks to capitalise on the opportunity. Read on to know more…
With cryptocurrency interest growing day by day, cybersecurity experts warn that hackers may launch well-funded cyberattacks to take advantage of the opportunity.
Cryptocurrency, according to Palo Alto Networks, a cybersecurity solutions firm located in the United States, will fuel the emergence and expansion of the ransomware industry. According to a list of cybersecurity predictions, it warned that larger attacks on critical infrastructure could occur in the New Year.
Cybersecurity Predictions
Palo Alto Networks said “Because of its decentralised character, it will be difficult for regulators to track down the perpetrators. Businesses must concentrate on enhancing their cyber security posture and determining their level of preparedness for an attack,”
Palo Alto Networks noted that collaboration between cybersecurity, cloud, and telecommunications providers, would help in disrupting successful attacks and impose real costs on attackers.
In 2021, businesses continued to grapple with the aftermath of the global pandemic, resulting in increased levels of innovation and digital transformation.
It said “As a result, cyber attackers also grew in sophistication. The impact of ransomware attacks also reached an unprecedented scale, posing a threat to thousands of businesses around the world and threatening critical infrastructure,”
Emerging Trends
As we get closer to 2022, it’s critical for businesses to stay on top of emerging trends.
It contended that “As physical and digital lines blur, who or what we trust will impact our security even more,”
It pointed out “Increased interactions with smart, intuitive devices with sensory triggers will create reams of digital data that will double up in existing physical spaces,”
It said “Given this hyper-connectedness of networks, organisations need to draw up a strategic approach that will provide complete visibility into the security infrastructure,”
It said “A ‘Zero Trust’ (trust no one) architecture combined with Artificial Intelligence (AI) capabilities can enable enterprises to profile, correlate and contextualise and apply threat prevention tools to each connected device, thus eliminating implicit trust and validating every stage of digital interaction,”
It warned that attackers will target countries’ critical digital infrastructure. Cyber attacks on critical infrastructure, containing confidential and valuable data, are on the rise all around the world.
Solutions Without Borders
In order to meet the needs of a borderless workforce, it called for borderless solutions.
It pointed out “With remote work gaining long-term acceptance and homes evolving into workplaces, cyber criminals have switched their focus from targeting corporate offices to attacking individuals,”
To deal with this new reality, businesses will need to evolve beyond their enterprise networks, implement remote work solutions, and deploy unified security policy management to remote workers.
With the emergence of open banking and the rapid growth of fintech, poor programming or security misconfigurations at the application interface level, API, can provide cyber criminals with more possibilities to commit identity theft, fraud, and unauthorised data collection.
It said “Special focus would have to be given to groups like the elderly, who may be more susceptible to fraud as new users of digital banking platforms,”