In the new age of digitalization, data theft, hacking, and various other forms of cyber-attacks have become widespread. Consequently, the use of sophisticated systems to counteract cybercriminals has also become a top business need. The safety of your data and that of your business and customers’ come above all else, making cyber-policing imperative.
TUV Rheinland has released its seventh annual report of Cybersecurity Trends. The report is a collaborative output that involves many cybersecurity experts from around the world. It discusses some cybersecurity trends that one should be aware of for protecting businesses, global supply chain systems, healthcare facilities, etc. These trends include:
Quick access to personal data jeopardizes the cybersociety
It is surprising to see how sometimes using a single app can give cybercriminals vast amounts of information that can be used against different stakeholders. A 2017 report featuring a young French woman disclosed an 800-page document she received from a dating app company. The document also contained all her information from popular social media websites, including likes, dislikes, comments, etc. The fact that so many of us use numerous apps with vast amounts of personal information and how potentially unsafe it is should be an eye-opener for us.
The implications for this on the business level can be catastrophic as large amounts of customer data are at stake. With an unsecured flow of information online, it is easy for cybercriminals to exploit your personal information to their advantage. Hence, companies should invest in implementing stringent data management and security policies. They can do this by hiring the proper personnel or training existing staff by encouraging them to take up a masters in information security online to guard against data breaches.
Threats of disrupting shipping/ logistics are widespread
Cybercrime has made it possible to disrupt shipping navigation, computer networks, and port logistics systems. There have been reports of seasoned hackers disrupting shipping networks and demanding ransom in return. Not only is this extortion, but it also endangers the lives of those on board as they are at the mercy of potential terrorists. With shipment operations disrupted, entire companies and deliveries worldwide can experience unprecedented delays resulting in substantial financial losses.
Rapid production of smart devices prevent creating robust security mechanisms
Smart consumer devices are rolled out into markets at an increasing pace every year. The higher the number of devices produced, the higher the possibility of cyber-attacks. This is because of two main reasons. First, the sheer volume increases the probability by default. And second, manufacturers tend to give little attention to in-built security features. Since so many devices are available in the market, the security coverage thins out, making it easier for hackers to break into any system and use the extensive data to their advantage.
The transport and auto sector are potential targets of cybercrime
Vehicles and transport systems and infrastructure have software and hardware platforms integrated into them that put them at risk of cybercrime. Organized targeting of any location could jeopardize individual users’ safety. It can also disrupt the entire traffic system resulting in urban chaos. Since vehicles have become susceptible to cyber-attacks, terrorist groups can quickly leverage them to their advantage. This problem poses a threat to countries’ safety and their people. It can also raise several political crises in the global village.
The targeted supply chains become dysfunctional
Smart supply chain networks are heavily reliant on IoT automation, robotics, and data management. These technologies help to enhance efficiency and reduce costs. The supply chains make use of a virtual warehouse where products are stored at any time. However, the running of the warehouse and the safety of the products are prone to cybercrimes. Seasoned cybercriminals can hack these systems and easily disrupt the global distribution channels, causing a loss of millions of dollars. Therefore, businesses and companies that rely on such technology for efficient warehousing must also take the necessary steps to bolster their cybersecurity.
Medical devices linked to the internet increase the risk of a digital healthcare crisis
With digitized databases, smart diagnostic tools, and automated IV pumps, health-tech is taking several leaps in the right direction for improving patient care. However, this integration of technology into healthcare comes with its own share of illnesses that need a quick remedy. Just as any bit of technology or intelligent app, health-tech tools are also susceptible to cyber-attacks. What’s worse is that the stakes are much higher than a few million dollars. Via the internet, hackers can quickly target patients, turning these life-saving tools and devices into instruments for death.
The number of devices connected to the internet is said to cross over 75 billion soon. Each of the devices will be on the IoT running on its own software package. Although the inventions and leaps in the technological world are a testimony to humanity’s progress, mechanisms to protect against cyber-attacks have become crucial. Therefore, the world needs more progressive advancements in the digital realm to ensure the safety of people, businesses, and information.