Cybersecurity year in review 2020. In this article, we will discuss some of the most important cybersecurity events that happened in 2020.
Read on to learn more.
Cybersecurity Year in Review 2020
The Rise in Phishing Email
In the past year, phishing emails have dramatically increased. In this type of attack, the cybercriminal impersonates a legitimate brand or individual and sends an email to millions of people.
The email is sent through official channels making it harder for users to spot its malicious nature. In most cases, if a person follows the link provided in the email, it will redirect them to a fake website that looks identical to the authentic one.
Once on this site, the user will be asked to enter his or her credentials to access content or features that are only available on the actual official website.
In most cases, these attacks are carried out with the help of a compromised server that allows hackers to use it as a springboard for their attacks.
If users fall for such attacks, they will inadvertently give out their personal information and credentials. Then, cyber-criminals can use it to carry out other fraudulent activities.
The Rise in Malware Attacks
Malware attacks have also increased dramatically in 2020 as compared to previous years. The increasing number of devices with an internet connection has made them a target for these attacks.
Most malware attacks are towards business networks instead of personal computers. The reason being that business networks are more lucrative targets since they store confidential information. And that can be used for monetary gains.
The most common type of malware in 2020 was Ransomware. This type of malware infects computers and blocks files from their owners until a ransom is paid in Bitcoin or another cryptocurrency.
The spread of Privacy Regulations
The law was revolutionary by many and other countries adopt it as well. In 2020, most governments around the world passed their privacy regulations that restrict how businesses can manipulate user data.
These regulations will not only make it difficult for businesses to freely collect user information. But, it also increase their costs since they will have to hire experts to help them adhere to these guidelines.
The Rise of Cryptocurrency Scams
Cryptocurrencies have been gaining popularity since their inception in 2008. In 2020, there were more than a thousand different types of cryptocurrencies on the market.
In this year, cyber-criminals carried out several scams involving cryptocurrencies like Bitcoin and Ethereum. Businesses that deal with cryptocurrencies are also susceptible to these attacks as hackers target them to steal valuable information regarding their operations.
In some cases, cybercriminals will even attempt to take down cryptocurrency exchanges by launching DDoS attacks on them during peak trading hours.
Wrapping Up
Cybercrime is on the rise and it keeps evolving with time. Although many companies are trying to create new security measures to ensure their networks are safe, there is no way to guarantee 100% security.
However, you can do several steps to protect businesses from cyber-attacks.
