Last week Facebook’s databank security was breached, which resulted in many billions of account holder’s personal details being compromised. To the general public this didn’t mean much, but to anyone with the slightest knowledge of the growing concerns of cybercrime in recent years, the news wasn’t reassuring at all. If the most widely used social media company can so easily be obstructed, what chances do the myriad of small businesses and government institutions- all of whom have records and highly confidential data stored on online servers, stand? We are practically living online today, dependent on IT infrastructure for everything -from banking and finances to air travel and daily public transport. One virtual attack is enough to bring a city to a standstill, cause public mayhem, and introduce chaos. Here are some future predictions on cyber attacks that we must be aware of.
Cyber attacks lack a conscious
Until a few years ago, people were under the impression that cyber attacks were only directed towards IT heavy online infrastructure such as hacking into another system or sending malicious malware to stall applications such as email, or send a ransomware to block access to data until the target pays money (thus called ransom-ware). However, in the last few years there have been breaches into public health organizations- such as the ransomware attack on the NHS, an attack in England which compromised many patients’ personal health details. Healthcare providers would be a prime target for hackers in the future, according to what experts have to say about cyber attacks in the coming decade. A scary thought indeed! Another sorry statistic shows that nearly half of all cyber crimes are committed against small businesses with fewer than hundred employees- often causing the company’s collapse. Small business in the future should be wary of cybercrime.
The future of wearable products and cybercrimes
Today smartphones and Bluetooth headsets are pretty much a part of an individual’s body, with an astonishing 300 million plus such devices sold in 2017 alone. But in the future, more wearable products – such as fitness monitors and wellness products are going to be as important, if not more. With the data company Gartner predicting half a billion data technology purchase prediction by 2021, these make prime targets for hackers and cybercriminals who can breach the main company and get hold of an individual’s private day to day health details. Future predictions on cyber attack clearly outline an emphasis on the wearable technology sector and how vulnerable they can be to a breach. It not only affects the company, but also every individual related to it -which is both a scary thought and a realization of how we are so connected in a collective manner.
Growing concerns of cybercrime and cryptocurrency
Having stated all of the above, it is however the cryptocurrency market that one gets concerned about when thinking about cybercrime and its implications. Cryptocurrency is the future of money – with digital assets like Bitcoin already becoming prominent in the financial world. Imagine an online bank getting hacked and all your savings stolen without any resistance. Growing concerns of cybercrime against decentralized money (and many other cryptocurrencies that have been created since Bitcoin in 2009) is a deep concern and a major blockade to online currencies becoming the norm. Payment applications around the world haven’t really been the target of attacks yet, but nothing is certain. A measure is often usurped by a clever tactic and with money involved, petty criminals become even more creative. If you are one of those already investing in cryptocurrencies like Bitcoin, ponder on this for a while.
Growing concerns of cybercrime aren’t just a concern, but a threat to the new millennium which needs to be addressed. There are some incredible statistics about the ransomware attacks costing around a billion dollars annually, which will grow further with each passing year. Much like street crime which grows directly in proportion to population growth, cybercrime will continue to pose a threat- the more society puts their beliefs and content on the internet, the further it will evolve.
Furthermore, the impact of the computer and the IT industry is felt in every other sector – from the airline industry, mass production chain lines and healthcare to education, to military and administration. 2018 could be the start of something revolutionary as computers, software, and hacking industries truly gain capabilities to transform society. In such a scenario, curbing cyber crime must be a priority.