2017 was an awful year for cyber security – so many scams, hacks and ransomware it was a tough year for organisations worldwide. Cyber risks became a growing concern throughout 2017, with some front page stories like Equifax data breach of 140 million records costing the CEO his job and some unfortunately publicity and the wannacry ransomware attack that hit many NHS institutions.
As commented on Computer Weekly: “The number of cyber breaches recorded by businesses has almost doubled in five years, from 68 breaches for each organisation in 2012 to 130 in 2017. The financial cost of cyberattacks is also rising. One study put the cost of responding to cyberattacks last year at an average of £11.7m (UK) per company, and cyberattacks are expected to cost businesses $8tn (US) over the next five years. The dark internet has once again become a thriving market for malware services and software, following a successful crackdown in 2012. In 2016 alone, more than 360 million new variations of malware were released, with Trojans designed to steal malware available for as little as $500.”
So with these grim memories from 2017 what can we expect in 2018 around the World?
- The regulators will find a scape goat for GDPR and fine them 20 million euros
- Two way authentication for passwords will become more mainstream
- State sponsored attacks by North Korea, Russia, and US will increase
- Cyber criminals will be adopting more AI bots to launch attacks
- More attacks against cryptocurrencies and block chains