Cyber threats are a serious challenge to businesses. According to Cybersecurity Ventures, companies will spend over $6 trillion to avert cyber threats by 2021. The enormous expenses are not a surprise considering that security and data breaches have hit the headlines in the recent past.
What is a cyber attack? Cyber attack is a criminal assault launched by an individual or a group of outlaws against one or more computer networks. Many cyber attacks often aim at hijacking computers to use them as stations for stealing crucial information from a given system. The computer attacks may also aim at sharing or destroying digital assets in the target network.
Read on to learn the most significant cyber threats in 2020.
1. Deepfakes
Deefake cyber threats involve applying Artificial Intelligence (AI) technology to manipulate the voice and words of individuals. The outcome is a fake image and sound that seems real. The technology is mainly used to defame other people, especially politicians and influential leaders.
2. Cloud Jacking
In cloud jacking, criminals penetrate business programs and systems in cloud storage. The hackers then use the captured resources in cryptocurrency mining.
3. Internet of Things (IoT)
The IoT refers to multiple interconnected electronic gadgets. The devices could be located in different places, but a shared network links them. The rate at which companies are launching smart devices is higher than the capability of technology experts to develop adequate security for them. Consequently, smart devices are increasing attack surfaces in which cybercriminals use to penetrate critical data networks. For instance, security cameras, smart televisions, blenders, light switches, and smartphones increase the vulnerability of systems to cyber threats in 2020.
4. Social Engineering Attacks
Social engineering or phishing is a method of bypassing the security of a computer, email, credit card, or financial platform. Hackers steal money once they take banking details of an individual. In the same vein, attackers creep into networks to steal confidential stuff, such as pornographic recordings and business emails, which they use to blackmail the owner.
How are phishing attacks carried out? Cybercriminals send malware, encoded emails, or HTML characters with underlying malware codes to unsuspecting individuals. Once a recipient opens the mail, the malware creeps into a computer.
Similarly, attackers may send links that mislead unsuspecting clients into logging into a replica fraud website. For example, the link may deceive one into thinking they are login into their online bank account. Once you use your credentials, the hackers get access to your money without your knowledge.
DDoS Threats
Distributed denial of service (DDoS) is a sophisticated attack in which criminals overwhelm a business network to prevent an enterprise from processing regular traffic requirements. DDoS threats are dangerous to businesses and individuals because many criminals use them to camouflage the real infiltration process. When the security teams are busy resolving the slow connection, they can penetrate and install malicious software.