2019 is gone and a new decade is in sight. 2020 is said to be a year that will bring on many changes in many different realms, but what does that mean for cybersecurity? With the rapid advancements in technology come better, more sophisticated tactics for cybercrime, and in return, pressing demand for innovative cybersecurity solutions.
Cybercriminals have become more sophisticated than ever, finding and exploiting vulnerabilities wherever they can. These crimes cost the global economy around $45 billion in damages in 2018 alone, and likely much more in 2019. Hence, it is no surprise that spending on cybersecurity solutions will likely exceed $1 trillion between 2017 and 2021. So what kind of cyber threats can we predict for 2020, and how can we protect ourselves from them?
Singles’ Day, or “Worlds Shopping Day”, marks the start of the November shopping season, followed by Thanksgiving, Black Friday, and Cyber Monday. Shoppers from all across the globe participate in this purchasing craze, with a drastically growing number of consumers getting their shopping done online rather than at a brick & mortar store, at a staggering 16% vs. only 2% annual increase last year in the US alone, respectively. They wait anxiously all year long to finally get that brand new TV or car, so much that they stand in line outside these shops hours before the doors open and once they do, all hell breaks loose. Others just use this time to get their holiday shopping done for a better price than they would normally find it for. Whatever the reason may be, popular retailers offer huge discounts that are just too hard to resist.
Halloween is around the corner, and you know what that means – scary customs, scary movies, scary decorations, and, unfortunately, scary cyberattacks. This holiday seems to cause sneaky cyber criminals to rise up from the dead and initiate all kinds of cyberattacks, phishing in particular. Phishing is fraudulent attempt by cyber criminals to collect sensitive information online by pretending to be a trustworthy company or person. Since last year alone, phishing attempts have risen by a scary 40.9%, with 1.5 million new phishing websites being created each month. These attacks cause way too many people to fall victim to pranks that seem completely innocent, but end up costing them a fortune, and what better time to evoke a little fear and phish for goods than on Halloween?