Security in 2017 and Beyond: Symantec’s Predictions for the Year Ahead

Security in 2017 and
Beyond: Symantec’s Predictions for the Year Ahead

Each year, the security industry faces
new types of threats as cybercriminals evolve their approach towards accessing
organizations’ data. With Singapore’s cyber development and Smart Nation
aspirations, it is a collective responsibility to ensure that we create a safer
cyberspace. To do so, it is essential that businesses and individuals alike
stay informed on cyber threats and adopt healthy cyber security habits. Given
the constantly changing security landscape, it’s important to take a moment and
determine where the security industry and individuals need to focus their
attention as we move into the next year.

As we approach 2017, the security
experts at Symantec have taken a close look at the trends we can expect to see
this year and in the years ahead. Here are some security predictions for 2017:

A new era of cybercrime

·         Rogue nation states will
finance themselves by stealing money

There is a dangerous possibility that rogue nation states could align
with organized crime for their personal gain, such as what we saw in the SWIFT
attacks. This could result in down time for countries’ political, military or
financial systems.

·         Fileless malware will
increase

Fileless infections – those written directly onto a computer’s RAM
without using files of any kind – are difficult to detect and often elude
intrusion prevention and antivirus programs. This type of attack increased
throughout 2016 and will continue to gain prominence in 2017, most likely
through PowerShell attacks.

·         Secure Sockets Layer (SSL)
abuse will lead to increased phishing sites using HTTPS

The rise in popularity of free SSL certifications paired with Google’s
recent initiative to label HTTP-only sites as unsafe will weaken security
standards, driving potential spear-phishing or malware programs due to
malicious search engine optimization practices.

Furthermore, phishing scams have become so sophisticated that consumers
are having a hard time identifying them. In Singapore, 26 percent of consumers
cannot identify a phishing scam from a real banking communication when it hits
their inbox, according to the Norton Cyber Security Insights 2016 Report.

·         Drones will be used for
espionage and explosive attacks

This could be seen in 2017, but is more likely to occur further down the
road. By 2025, we can expect to see “dronejacking,” which will intercept drone
signals and redirect drones for the attacker’s benefit. Given this possibility,
we can also expect to see anti-drone hacking technology being developed to
control these devices’ GPS and other important systems.

IoT devices offer new revenue streams
for cybercriminals

·         Connected cars will be
taken for ransom

As cars start to have connected capabilities, it opens a new avenue for
cyber attacks. In Singapore, the connected car penetration is expected to grow
from 2.3 percent in 2016 to 9.6 percent in 2020[1]. It is only a
matter of time until we see an automobile hack on a large scale. This could
include cars being held for ransom, self-driving cars being hacked to obtain
their location for hijacking, unauthorized surveillance and intelligence
gathering, or other automobile-focused threats. This will also lead to a
question of liability between the software vendor and automobile manufacturer,
which will have long-term implications on the future of connected cars.

·         Increased IoT DDoS attacks

The Dyn attack in October demonstrated the vast number of IoT devices
that don’t have security on them and are tremendously vulnerable to attacks.
According to the Norton Cyber Security Insights 2016 report, Singapore
consumers are unknowingly giving hackers a new avenue to launch attacks with 42
percent using the default password issued by their provider when setting up
their Wi-Fi and have not changed it since then.

As more IoT devices are installed in the mass market, the risk of
security breach will increase. Once insecure devices are in the market, it
becomes almost impossible to fix the issue without recalling them or issuing
security updates. Given that this lack of security will continue for the
foreseeable future, the number of IoT attacks will only increase as well.

Hacks in the cloud

·         Ransomware will attack the
cloud

Given the significant shift
towards cloud-based storage and services, the cloud is becoming a very
lucrative target for attacks. The cloud is not always automatically protected
by firewalls or more traditional security measures, so there will be a shift in
where enterprises need to defend their data. Cloud attacks could result in
multi-million dollar damages and loss of critical data, so the need to defend
it will become even more crucial.

[1] https://www.statista.com/outlook/320/124/connected-car/singapore#