Are we really prepared for future cyberattacks and breaches?
The risk of cyber-attacks has grown over years. Ever since 2018 mankind has seen terrific data breaches and attacks. Every growing technology is accompanied by its own security risks and is not completely secure. Here are some next-gen possible cyber-attacks: the top of the list is cloud vulnerability. According to the 2019 KPMG cloud threat report, cloud vulnerability will be the biggest cyber security challenge for organizations. This is because enterprises are leveraging cloud applications and storing sensitive data related to their employees and business operations on the cloud. In 2018 Forbes predicted that 85% of data will be on cloud platforms by 2020 and making it easier for hackers to leak confidential files, data breaches, and insecure interfaces.
Next on the list is Artificial Intelligence enhanced cyber attacks. It is making an impact everywhere from marketing services, manufacturing to supply chain management. AI fuzzing and ML poisoning is the perfect examples of the above. Succeeding the top of the list is smart contract hacking. ever heard of this term before? Those smart contracts are in their early stages of development businesses are using them to execute some form of digital asset exchange. Smart contracts are software programs that carry self-executing code. This code enables developers to set the rules and processes that build a blockchain-based application. Consequently, these contracts are a prime target of online criminals looking to compromise such applications. As this technology continues to mature, smart contract hacking will pose significant threats to businesses in the future.
Following this is the social engineering attack where the attacker tricks the users into giving their login credentials or credit card information. Nowadays with the help of AI and ML, the attackers make the target easily and cause sufficient damage to users. According to a Verizon report, phishing is an effective high reward and minimal investment strategy for cybercriminals to gain legitimate access to credentials. Last but not least on the list is Deep fake vulnerability. It is an audio or video recording that cybercriminals use for illicit purposes using Artificial Intelligence. For instance, amateurs and criminals have created deep fakes by swapping people’s faces and videos or altering the audio track. As this technology matures cybercriminals use this to foster disruption across various industries like financial markets, media, and politics. This predominantly used to impersonate top officials of the company to steal millions and disrupt business operations.
