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6 Predictions for Cyberattacks and Threats in 2017

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As new hacking methods and tools target an increasing amount of vulnerable attack surfaces, industrial and government sectors, once thought safe, are now prime hacking targets.

Computing technologies are continuing to expand rapidly and beneficially touch our personal, social, health, and economic lives. However, at the same time these technological innovations are blossoming they also expose brand new dangerous attack vulnerabilities for malicious hackers to criminally exploit.

Almost every day, news channels report another new and devastating security breach that can wreck a company’s finances, trust, and reputation. These attacks are perpetrated by professional cyber-thieves, international gangs, and a growing number of state sponsored cyberattacks.

Safe-T’s Security Solutions

Safe-T Ltd., publicly traded on the Tel Aviv stock exchange (TLV:SAFE), is an Israeli market leader that specializes in advanced enterprise solutions for secure data access and data exchange. The company's mission is to secure data at rest when stored in a file system or database, and data in motion when files are shared within the enterprise or sent outside the corporate gateway as email attachments.

As 2017 begins, Safe-T CEO, Shachar Daniel, predicts that 2017 will be characterized by new, complex cyberattacks based on existing and new vulnerabilities in enterprise networks and home computing.

DDoS Attack

Shachar Daniel says, “In 2017 new attack surfaces in a widening selection of government and industrial sectors will be exploited. Companies and organizations considered safe from hackers will be open to cyberattacks. Critical infrastructure such as power plants, airports, tunnels, and industrial control systems will be actively targeted.”

“Enterprises must be especially vigilant in defending their cloud data. As more companies base their valuable data in third-party off‑premises cloud environments they lose hands-on control of their data as it is stored and exchanged between employees, partners, contractors, and customers. Remote access and device endpoint security are also critical enterprise security areas.”

“On the consumer side, in 2017 the internet of things (IoT) and smart-home networks can expect to be attacked. IoT devices have recently been used to create large botnets capable of delivering a high-severity DDoS attack against the largest corporations. IoT devices are generally low cost with minimal device control and data protection and they usually cannot be patched.”

Safe-T Cybersecurity Predictions For 2017

  1. Phishing attacks using targeted e-mails will continue to increase in 2017 mainly due to the low price and ease of attack relative to other options. These attacks do not need great expertise and do not require sophisticated and expensive attack tools.

    By sending a targeted email to a company employee the attacker tries to bypass the organization’s firewalls and penetrate deep into the network to cause financial damage, steal employee ID information, take intellectual property, encrypt critical files to hold for a ransom, and perform other criminal activities.

  2. In 2017 there will be more awareness of the problem of securing cyberspace as it concerns critical infrastructure such as ensuring protection of electricity grids, waterways, transportation hubs, and emergency police, fire, and health systems. There is a strong likelihood there will be an increase in government sponsored cyberattacks against infrastructure to achieve military and political goals.

  3. Organizations will begin to implement new architectures such as software defined perimeters (SDP) to effectively hide and control access to application services. This year network architects will begin to comprehend that in the new world situation legacy access solutions and network designs are no longer effective against potential attackers.

  4. Attacks against government, enterprise, and consumer IoT devices will increase because these devices often have no security safeguards. The proliferation of internet connected IoT devices will likely be exploited in unpredictable ways potentially causing great damage.

  5. This year will produce overall heightened security awareness, information sharing, and strategic alliances with calls for governments, organizations, and individuals to share defensive information and details on implementing effective preventive counter-measures against cyberattacks.

  6. Major insurance companies will recognize the potential risks to organizations and create special insurance policies for companies that want to manage their risks as cyberattacks increase.

Lloyds of London recently introduced 15 new types of insurance coverage for cybersecurity risks predicting the demand will soar in 2017. The London insurance market, the largest in the world, had a 50% increase in companies and individuals taking out policies against cyberattacks last year.

Safe-T, Ltd won in 2016 two Info Security Product Guide awards. Safe-T was named 2015 'Cool Vendor in Mobile and Wireless' by Gartner. Safe-T’s headquarters and R&D center is in Israel with offices in the US, Asia, Europe, and Africa.

DDoS Attack

About the Author: Tom Skeen

Tom Skeen

Tom Skeen provides guidance on matters relating to IT/Risk/Security challenges to the Safe-T Data leadership team and customers. Tom spent nearly two decades in various roles with JPMorgan Chase in the financial services sector prior to joining Safe-T. Most of his tenure with the firm was in the Managed File Transfer Services (MFTS) organization - which manages the secure transfer of data from one point to another. As the Executive Director of that group, he was responsible for a wide variety of functions ranging from managing risk, incidents & problems, root cause analysis, engineering & development, technical roadmaps and all software vendors. Tom brings a diverse skill-set and experiences that compliments the team well.

 

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