SIDNEY, Australia – We’ve learned in the recent past that hackers are constantly changing. They started off by making bogus promises to take people’s money, then went on to Phishing pages, and now they’re using technology.
The digitization of nearly every corporate function is becoming unavoidable, thanks to the introduction of remote working and efforts by different organizations to recruit more clients and increase sales through online channels.
Businesses must adapt to rapidly rising data flows, meet human demands for improved user experiences, establish seamless worldwide connectivity, and alter supply chains. Unfortunately, this opens up new security flaws in commercial systems, offering new cybersecurity challenges in the future.
Currently, many businesses in Australia opt for VPN services to keep their online channels secure. Visit howtowatchinaustralia.com to know top Australian VPN services. However, this is not a permanent solution, and the precautionary measure should be substantial.
Cybercrime is expected to cost Australia $300 million in lost revenue every year. Last year, Cybercriminals launched a wave of cyberattacks that were well-coordinated and far more sophisticated than anything before seen.
The year marked massive data breaches, costly ransomware settlements, and a broad, new, and complex threat landscape.
Let’s take a look at some of the areas where Australia’s cybersecurity future may attract significant attention:
AI-Powered Attack
In the future, many types of automation or AI-driven tools will be used to replicate human behavior, whether it’s sending messages, signing into accounts, or viewing websites.
In theory, machine learning techniques and other AI-enabled defenses to recognise patterns and stop suspicious traffic and other AI-related cyber attacks sound great, but in practice, they’ll almost certainly boost better attacks.
We must constantly implement, modify, and improve security solutions based on expert knowledge.
Modern Malware
It is critical to have a solid backup and recovery plan for organizations in industries like healthcare that handle sensitive client data or any firm that has access to customer payment information.
This is in addition to ensuring that system breaches, which often result in data leaks, are mitigated through encryption and other permission-related safeguards.
Cloud Account Hijacking
It’s a violation of the cloud system in which an attacker employs pre-written scripts to gain control of a company’s cloud infrastructure without even being a cyber expert.
Botnets and other kinds of malware are routinely sent through malicious emails to access cloud accounts on Amazon Web Services and other platforms.
Some attackers are merely looking for free cloud services, while others may be looking to steal valuable information or disrupt critical systems.
Phishing via email
In the future, many companies may face scenarios in which a huge number of instructions are sent from one employee to another in different regions of the world.
Phishers can trick employees into clicking on dangerous URLs in emails regarding emergency cash transfers, reactivating inactive accounts, downloading work materials, and software updates.
Through instructional programs and exercises, employees should be educated to recognize dubious signals. Among other things, access should be controlled based on IP addresses, password validity periods should be limited, and multi-factor authentication should be employed.
Cons of Coronavirus
Cybercriminals sought to profit from the misinformation around COVID-19 by using techniques such as face-mask scams and fake contact-tracing requests, among others.
With the epidemic far from over, we may see a fresh wave of attacks aimed at persons seeking information about vaccination and other COVID-19 SOPs (Standard Operating Procedures).
Businesses should preserve a list of all health and government agency websites, helplines, seals/symbols, and other information that can be used to locate relevant authorities on COVID-19 issues.
This will make it easier for them to discern between authentic and phone communications.
Human Resources and Skills Gaps
Businesses in various industries may be affected by the scarcity produced by the rising demand for cybersecurity specialists.
Due to a lack of specialized security employees, complexity with comprehending the field of cyber security and implementing security measures, or underestimating the risks of cyberattacks, small and medium-sized enterprises may have difficulty adapting their own cyber security measures.
Many organizations will have to hire more people or teach existing employees how to secure their data and networks from cyber threats.
There will be additional challenges in the future of cybersecurity data than those listed above, with some originating from 5G security flaws and improvements in quantum computing, among other trends.
This is why organizations should work with IT service providers who have agreements with premier security vendors and the expertise to ensure their data is secure. Some IT service providers also educate business owners and staff about their own daily activities and how the security mechanisms work.
Conclusion
In its 2020 Cyber Security Strategy, the Australian government wants to invest $1.67 billion in new cybersecurity and law enforcement capabilities. However, they have stated unequivocally that businesses are responsible for securing their products and services and protecting their customers from vulnerabilities.
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This article was provided by Natasha Eales
