It seems that every year is the biggest year for cybersecurity threats, and 2019 was no different. Over five billion records had been breached as of November 2019, from organizations in industries ranging from finance and education to healthcare and government.
Why? Because the state of cybersecurity is worsening as companies continue investing in the cloud without having robust security systems in place.
Unfortunately, this trend will continue next year if businesses don’t invest in cybersecurity. But continued cloud investment isn’t the only 2020 cybersecurity trend to watch out for.
The Top 6 2020 Cybersecurity Trends
Cybersecurity is an essential focus for every company entering the new year. But it’s important to know what you’re looking for, too. Here are the top six 2020 cybersecurity trends to keep an eye on:
1. Growing Emphasis Toward Consumer Privacy
When the General Data Protection Regulation (GDPR) was enacted by the European Union (EU) in 2016, companies all over the world scrambled to ensure compliance. But not everyone had to — companies without clients or customers in the EU weren’t expected to participate.
Individual states in the US are now changing that. For example, the California Consumer Privacy Act (CCPA) rolled out in 2019 with a compliance date of January 2020. It requires companies to provide transparency in how they collect, share and use consumer data. Expect more similar regulations from other states in 2020.
2. Growing Attack Surface Areas
We've already noted that cybersecurity is an increasing concern as more organizations move data to the cloud. Cloud applications are easier to spin up and deploy than ever before, which means that the number of exposure points in a company’s infrastructure is growing substantially.
Every new cloud application or infrastructure deployment widens a company’s attack surface area. Most companies are unable to keep up with the security measures needed to protect these new apps, increasing their exposure to cyberattacks.
3. Bigger, More Devastating Attacks on Companies
Cybercrime is anticipated to cost the global economy $2.1 trillion by the end of this year, which is four times the cost in 2015. This year, we watched cyberattacks affect significant companies, ranging from Capital One and Facebook to Fortnite and T-Mobile.
Cyberattacks are the speediest growing crime in the world. As such, every company is affected and could be a victim. And as we enter 2020, cyberattacks will continue to grow in number and scope as attack surfaces widen, so every company must take the necessary precautions.
4. More Attacks on Mobile Devices
One-third of organizations suffer a data breach due to mobile devices. Many companies now know to protect their on-site systems, but they’ve yet to take precautions with their mobile assets. In fact, according to a study by Verizon, 80 percent of respondents felt their companies were at risk of mobile attacks.
The most worrisome mobile threats include:
- Data leakage, which is when data is transferred from within an organization to an external recipient
- Social engineering, such as phishing attacks
- Out-of-date devices
- Weak passwords
- Wi-fi hacking
5. Greater Susceptibility of IoT Devices
According to multiple sources, about 30 billion devices will be connected to the Internet of Things (IoT) by 2020. Even today, people increasingly use IoT devices in the home, workplace and hospitals. Unfortunately, however, they’re not always secure.
The FDA released warnings about cybersecurity vulnerabilities for IoT. Its “URGENT/11” notice explains that, if exploited by a remote hacker, the IoT could introduce serious risks for medical devices and hospital networks. But what makes the IoT vulnerable? Here are just a few issues:
- Outdated privacy protections
- Insecure network systems
- Weak passwords
- Device mismanagement
- Unguarded backend systems
6. Move Toward More Secure Two-Factor Authentication
SMS is not always the safest option for two-factor authentication. For example, people can hijack a text by using SIM swapping. So more companies are moving toward a two-factor authentication that requires a secondary code that only you know or a simple tap on your secondary device.
An even stronger level of protection is Google’s “Titan Security Key,” which requires you to plug in a physical Bluetooth or USB security key. With so many data breaches over the years, keep an eye out for such stronger security measures as we move into 2020.
Future-Proof Your Organization With Cybersecurity Training
Cybersecurity is a threat to every company in the world. Now that you know the top 2020 cybersecurity trends, it’s time you take steps to ensure they don’t affect your organization.
To do that, your entire team must be prepared. Update everyone’s skills with cybersecurity courses from New Horizons, the world’s largest IT training company, to make 2020 your most secure year yet.
Get in touch with our IT training experts or take a look at our available cybersecurity courses to get started today.