The Internet is much more than just a space for online shopping and socializing. It has become an essential part of our lives, but its growing usage during the pandemic also means that it can be one of the most dangerous places on Earth.
While the world’s market for information security is expected to hit $170.4 billion in 2022, the cybercrime trends remain unpredictable; there are a few things we do know about what this might look like.
Here's what we expect to see.
Growth in Ransomware Attacks
The number of ransomware attacks will grow exponentially over time, with new strains being created as soon as one starts taking a hit; ransom costs will range from $400 to $25 million per head, depending on the severity of the attack.
Hacking Attacks Expected to Slow Down But…
The growth in the number of hacking attacks is expected to slow down, although this doesn't mean that the number of breaches will; we'll see a plethora of attacks against individuals, companies, and governments. In addition, 68% of entrepreneurs currently feel that they'll become more prone to cybercrimes as time passes.
A Rise in Phishing Attacks and Malware-Related Incidents
The growth in the number of phishing attacks will slow down somewhat as users become more aware of how this works and where their spam filters need to be adjusted for maximum protection. Phishing scams that target customers and defraud them will also continue to grow steadily.
Malware-related incidents will rise slightly due to vulnerabilities of PCs, mobile devices, gaming consoles, home routers, and other hardware connected to the Internet.
Social engineering and malware explicitly designed for social media sites will be some of the most prevalent types of malware. An example of this is the "Tripwire" worm, which could spread to potential victims from a compromised contact on Facebook.
Viruses and Worms Will Continue to Grow
Viruses and worms will continue to be a serious threat as they can serve as entry points for cybercriminals. However, the prevalence of mobile malware will decline when users' phones can adapt themselves to avoid exploitation.
Growth in Phishing and Pharming
Phishing and pharming will continue to evolve using more sophisticated social engineering tactics (such as fake news items and fake messages about money or gift cards) that will cause users to click on links that lead them to malicious websites.
The above information highlights a few of the major trends expected in the post-pandemic era. Get in touch with us if you’re concerned about the trends in cybersecurity and cybercrimes. At Lean Security, we offer premium cybersecurity services in Australia, including advanced web security testing, web security assessment, vulnerability scanning, source code security assessment, and more.