“Scammers are leveraging the COVID-19 pandemic to steal your money, your personal information, or both.” FBI Public Service Announcement, March 2020.
As we are all much too aware, the Covid-19 pandemic has caused massive – and very rapid – economic, political, and societal upheaval. While it has forced lay-offs and shut down entire industries from main street to the mall and beyond, one area that hasn’t seen a slowdown is cybercrime.
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With the increase in largely-publicized security breaches to corporate giants such as Google, Facebook, and Target, terms such as “phishing” and “ransomware” have been growing in popularity. You may know them as the fishy emails from seemingly legitimate companies telling you something is wrong with your account and urging you to insert your credentials.
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By 2020, you’ve probably already experienced getting an email from a well-known company, such as Apple or Facebook, letting you know that your account has some issues with it or a payment confirmation of some sort (that you haven’t made). The email address it was sent from looks just like the company’s email, the interface of the message matches previous emails from the company, and the company website in the link looks real as well.
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Unless you’ve been in complete lack of contact with the world, you’ve probably heard of the coronavirus pandemic going around. With widespread travel bans, quarantines, and school and workplace shutdowns, the growing panic can be felt, as people are clearing out supermarket aisles of sanitary goods and take all necessary precautions to not catch the deadly virus.
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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?
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