As cybercrime continues to accelerate, cybersecurity ventures predict that cybercrime damages will surpass $6 trillion by 2021. Cybercriminal activity is expected to soon become one of the biggest challenges that humanity has ever faced in the past two decades. During the present age of cyber warfare, the threat of cybercrime to businesses also keeps mounting by each passing day – which implies that having cloud antivirus isn’t just enough anymore!

Cybercriminals are using state-of-the-art tools to breach user privacy, and we’ve witnessed the most common cyber threats, the outcomes of which have been quite staggering for them. It is, therefore, crucial to defend yourself. In 2017, 2 billion data records were compromised whereas, at the beginning of 2018, over 4.5 billion records were breached. But the question here is, what does 2020 holds in this prevailing situation?

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

Phishing Kits Are Evolving

Most of the phishing sites stay online for just 4 to 5 hours which makes them one of the most successful attack vectors. Since it’s deemed as a low-risk activity, only 17% of the users tend to report phishing attacks – as a result, only 65% of all URLs are considered trustworthy today. This also puts a strain on both the consumer and the enterprise.

Moreover, there are dozens of new phishing kits available on the dark web which leads to the prediction that 2020 will be known for advanced phishing attacks, as these kits allow individuals with just basic technical knowledge to run their phishing attacks. In a nutshell, phishing will become one of the deadliest attack methods in the cybercrime world this year, as more tools are accessible to attackers now.

Hidden Weak Spot for Cyberattacks

The rapid increase in the number of remote attacks has made them far more complicated than ever today. The recent remote access attack took place in 2018, where attackers targeted cryptocurrency owners. Moreover, remote access attacks are one of the most common attack vectors in smart homes – hackers mainly target computers, smartphones, IP cameras, and NAS devices, as these tools often 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.


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