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Cyber crime in 2021




At the end of the year, companies from various industries usually publish reports on what will happen next year, but no one in 2019 could have predicted a pandemic and a global reaction to it.

Organizations were forced to make decisions that fundamentally, and perhaps permanently, changed the way they did business. Although 2020 was filled with great uncertainty, there are still guarantees in the field of cyber security. Cybercriminals will continue to attack regardless of the challenges their targets face. This will lead to business interruptions, data compromise, reputation damage and almost always financial loss. These actors are still motivated by espionage and money.

A look at the cyber threats from the current year will help companies, governments and organizations of all sizes to better prepare for stopping threats in 2021.

 

What did we encounter in 2020 and what can we expect in 2021?

 

1. The health and education systems, as well as the banking sector continue to be the main targets of attacks The battle with the pandemic will continue in the next year, so the targets of the attack will continue to be health institutions, as well as the producers of the vaccine against Covid-19. These organizations will have to start thinking "out of the box’’. Educational institutions had to adapt to online teaching overnight. This practice initially had numerous challenges in the technical sense, the way in which students did their homework, tests, etc. Teachers, professors had to adapt to new communication applications. Taught by experience, next year is expected to improve the organization of the education system as well as to increase hacker attacks because it is certain that online schooling will continue throughout the school year. Attacks on financial institutions are becoming more widespread. Banks are, by the nature of their business, an attractive target. Attacks are most often aimed at extracting sensitive data, blackmail software and DDoS attacks on IoT devices. A growing threat is posed by mobile device software that targets users' bank credentials and frauds by clicking on ads. Mobile devices already reveal much more personal data than most users realize, thanks to applications that require wide access to contacts, messages, photos, etc.

 

2. Digital transformation - even faster

 

Digital transformation has been a strategic goal of many organizations since the beginning of 2010. The pandemic has changed the way of life of every person, and thus the way of doing business as well as consumer habits. To address these challenges, many organizations have turned to digital data transformation. The adoption of new technologies and the increase in the number of Internet users means that the majority of the world's population is at high risk of data exposure.

 

3. Financial challenges will continue due to economic losses

 

The financial losses due to the impact of the pandemic on the global economy are immeasurable. Many organizations, from different industries regardless of size, have suffered additional financial damage due to the multiple increase in ransomware attacks in 2020. Hackers will increase attacks on RDP, VPN and other technologies that enable remote work. CSOs and CISOs in companies that have managed to continue doing business, probably with a reduced budget, will have to review existing security systems in order to increase the security of information systems. The use of the 5G network will enable much faster data transfer to end users, which will lead to a multiple increase in cybercrime.

 

How to reduce risks?

 

In the near future, the Covid-19 virus will continue to have a significant impact on regular operations, with a focus on supporting remote operation, virtual events, and new productivity platforms. The pandemic has forced almost every organization to become better at working in significantly changed working conditions and after changes in the environment, IT security challenges are likely to persist during 2021. Due to the growing danger of cyber attacks, it is necessary for organizations to provide cyber insurance policies in order to reduce the financial risks of cyber attacks. The good news is that global awareness of cybersecurity is increased and companies are willing to invest in increasing data protection and implementing new, more advanced technologies.

The recommendation to financial institutions is to view their information infrastructure as a critical resource and to take adequate security measures accordingly to protect their core business.


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