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Cybersecurity 2020: The biggest threats to watch out for


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Title: Cybersecurity 2020: The biggest threats to watch out for

Cybersecurity 2020 The biggest threats to
watch out for
In one of the episodes of Sherlock Holmes, Jim
Moriarty orchestrated a simultaneous heist on the
Tower of London, Bank of England, and Pentonville
Prison with a single tap on his phone. Sherlock,
in turn, tried to find the master code that
could open any locker anywhere in the whole wide
world a unique combination of ones and zeroes
that bears the power to penetrate into layers and
layers of security. This was a fictional
scenario, it did raise a question and a very
important one at that Is our security system
this fragile? Well, apparently so. The real-life
case does not differ a lot from the
reel-life. Hackers stole data of over 5 million
tax-paying Bulgarians from countrys tax revenue
office. For a country like Bulgaria, this number
makes up for its entire adult working population.
The stolen information included names, addresses,
incomes, and social security numbers of the
affected individuals. Government databases are
treasure troves for hackers. With data becoming
the new currency, such hacks are cyber versions
of the good old money heists. 5 million may seem
like a very small number against the 150 million
customers whose privacy was compromised in a 2017
data breach of Equifax. While the organization
was later fined with the amount of 700 million,
the damage had already been done.
As per a prediction by Gartner, By 2020,
100 of large enterprises will be asked to report
to their board of directors on cybersecurity and
technology risk at least annually, up from 40
today. From end users to the businesses and
service providers, cybersecurity is on the top of
everyones mind. Let us sneak a peek at what are
the threats that will majorly impact
cybersecurity this year The prime targets of
cyberattacks in 2020 As per a prediction given
by Kaspersky, FinTech, mobile banking
applications, and e-commerce platforms could be
the prime target for hackers in 2020. The
financial motivation of the cyber threat actors
plays the key role here. Additionally, CNBC
reported that 43 of the online attacks are
primarily targeted at the small businesses
because of lower security resilience and ease of
hacking. This implies that all organizations,
irrespective of their size, must focus on
building strong cyber walls to prevent any
unexpected breaches.

A multipolar world of technology
Reports have suggested a possible balkanization
of technology and the internet. In fact, amidst
the China-US trade war, this divide will extend
further to software and hardware, privacy norms
and regulations. Eric Schmidt had predicted the
bifurcation of global internet by 2028, causing a
break between the Chinese-led internet and the
non-Chinese led internet. The lack of censorship
and regulation over the Internets global reach
has always been threatening, which would be
mitigated by this balkanization. However, on the
other side, a controlled reach will take away the
privilege of free accesses. As we move toward
a world of segmented internet, businesses should
ensure that they comply to the varied laws and
regulations governing the regional technologies,
privacy, and connectivity. To minimize the
exposure of vulnerable hardware or software to
the segment networks, special caution would be
required during their integration.  Read Full
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