Cybercrime is a major issue in society. CNBC suggests that calendar year 2016’s cybersecurity threats cost businesses and individuals a whopping $450 billion.
As time progresses, the total cost is expected to grow significantly. Juniper Research believes cybercrime’s cost could total $2 trillion by 2019.
Here we dig deeper into 2018’s most significant potential cybersecurity threats.
BGP Hacks Can Eliminate Network Stability
Border Gateway Protocol (BGP) is a network for data packets to propagate throughout the Internet, transferred between edge routers. For example, someone with Spectrum’s Internet service emails another person with Verizon’s – to transmit data between the two independent networks, the transmission relies on BGP infrastructure.
BGP routers share high volumes of IP addresses between networks, and are intrinsically linked to the welfare of the World Wide Web. Unfortunately, cybercriminals can take advantage of them by engaging in BGP hijacking.
Hijacking, in reference to Border Gateway Protocol, involves redirecting information sent through networks of computers. Nodes involved in transporting such information seek out the past of least resistance. If a criminal can compromise a node, he or she can effectively steal others’ data transmissions, even if such data weren’t intended to be sent to the cybercriminal in question. Network monitoring could be an effective means of dealing with BGP hijacking.
The United States Is Disproportionately Targeted
Citizens and business entities cave in to cybercriminals’ demands far more frequently than any other country’s constituents. Research has indicated that nearly two-thirds of American citizens – 64 percent – give in to extortionists’ demands.
Symantec, a digital research firm specializing in security, found that only 34 percent of people on planet Earth.
In terms of payout, criminals receive an mean dollar amount of $1,077 for each victim. United States citizens have been shown to provide these cybercriminals with higher payouts than people from other places around the world.
Conflict Between Nations, Groups Of Cybercriminals
There’s no telling if conflict between these parties will rise in the coming year, although governments could use them against one another. It’s well-known that Russia-backed computer experts flooded Facebook and other web pages with misleading advertisements, either directly or indirectly encouraging Americans to vote against Hillary Clinton.
We’ve already seen tastes of these types of international conflicts, although nobody can be certain of the the future truly holds.
With Cryptocurrency Prices Skyrocketing, Expect Crypto-Related Crime
Cryptocurrencies generally provide a layer of anonymity in their users. A fair share of cybercrime activity relies on various cryptocurrency to keep themselves from becoming identified.
Bloomberg indicated that phishing scams involving cryptocurrencies totaled a whopping $225 million in the first eight full months of calendar year 2017.
As mentioned earlier above, cybercrime is slated to become costlier as time progresses. By extension, so is cybercrime involving Bitcoin and other cryptocurrencies – Monero could be a popular flavor, as it’s totally anonymous, unlike Bitcoin, the father of all cryptos.
Trendy, Innovative Techies Could Regret Being First-Movers
Initial releases of technological devices are often filled with bugs. There are only so many things beta testers and programmers can figure out about such devices. When any product is released to the public, people are certain to use it inappropriately, with innovation, or otherwise unlike most other people.
As such, some tech-savvy first-movers could regret purchasing the latest technological devices to hit the market in 2018, as some users could be targeted for their nativity.
These techies should consider waiting a few weeks or months prior to caving into expensive, brand-new technological devices to hit the market. It can’t hurt.
Today’s society is filled with technology. While technological devices and their capabilities sometimes harm society, they’re largely good for the world at large. However, as cybercrime continues to become more popular, individuals and businesses alike should strive to inform themselves of trends in cybersecurity as frequently and thoroughly as possible.