NEW YEAR’S RESOLUTIONS

New Year’s Resolutions: Cybersecurity trends for 2020 that will matter to you

We’re moving on from 2019 and are saying goodbye to a decade that saw some of the largest cyber attacks on record, the rise of the Internet of Things, and ever-expanding budgets needed to stay out front of new cybersecurity threats like ransomware.

Looking forward, the year 2020 and the decade it kicks off sees the world of cybersecurity in a period of transition. As security incidents, breaches, and hacks garner more attention around the globe, awareness of cyber crime is at an all-time high. Businesses, governments, and other enterprises are beginning to ask the right questions about cybersecurity to begin proactive defense, rather than reacting following a security incident occurs close to home.

Kicking off the Year of the Rat, we anticipate that the cybersecurity world will still have to battle with ransomware, data privacy will become a much larger issue in the U.S., and data breaches will rock the headlines once again.

Ransomware will continue to expand

Ransomware took the world by storm in 2019, with attacks on government agencies, hospitals, colleges, and a wealth of other industries dotting the headlines. Municipalities like Albany, NY and Baltimore, Md. were hit individually, while more than 20 towns in Texas and multiple Florida cities paid out large sums, from hundreds of thousands of dollars into the millions, to regain access to their systems and data last year.

Cyber criminals won’t stray from what works, so expect even more ransomware attacks in 2020 – and not just large scale businesses. As governments and large enterprise begin to craft plans to prevent ransomware in their ranks, cyber criminals will begin to look at other vulnerable businesses. While the six-figure payout of a larger corporation is a great reward, there are plenty of “small fish” that are just as attractive as targets of cyber criminals.

Data privacy takes center stage

The California Consumer Privacy Act represents a radical shift in how companies deal with consumer data in the United States. With the new regulations, which go in place on New Year’s Day and will be enforced starting July 1st, companies must be more transparent with what consumer data they gather, how it is stored, and make “reasonable” efforts to maintain security measures.

Adherance with CCPA regulations will be buzzworthy early in 2020, as companies move to update privacy policies to reflect the new standards.

Read this blog for more information on CCPA.

Traditional passwords will begin to phase out

Passwords are an easy target for hackers, mostly due to the human element. People don’t want to create multiple complex passwords using a unique combination of letters, numbers, and characters. Passwordless authentication will be the next fad in the password world, replacing multi-factor authentication as the next buzzphrase.

Passwordless authentication can be made up of a variety of things, from hardware tokens to biometric authentication. One thing is for sure with the future of passwords – removing the human element will help secure the practice.

Third-party vendors cause multiple large data breaches for major corporations

This one feels more obvious than anything, as third-party vendors have caused some of the largest data breaches in history. Year after year, major data breaches happen because of vulnerabilities introduced by third-party vendors, yet major corporations continue to do a poor job of vetting their vendors.

According to the Ponemon Institute, third-party vendors account for more than 50% of all data breaches and a breach caused by an outside entity costs twice as much as an internally sourced breach.

In 2020, taking the time to vet your vendors and factoring their cybersecurity shortcomings into your risk assessment will be critical to keeping your name from the breach headlines.

Take control of your security today!

Work with the cybersecurity experts at Archetype SC specialize in helping businesses understand and manage the risks associated with modern technology. Help lock down your most precious assets today with our Security Risk & Vulnerability Assessment (SRVA), which provides a detailed look at vulnerabilities in your system. Contact us today for a free consultation.

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