Cybercrime Predictions for 2016
A look back at 2015
Early in the year of 2015, IBM Security forecasted some trends to be expected. This included Rising card-not-present fraud, an escalation in the sophistication of mobile threats, a wide use of anonymity networks and stronger encryption, burgeoning fraud methods for new payment encryption, and biometrics becoming a target.
Predictions for 2016
Based on observations over the past year, here are the top three predictions for cyber threats in 2016.
Ransom continues to grow. Ransomware attacks have been extremely profitable for cybercriminals over the past few years especially 2015. On few occasions attackers have taken it to the next level demanding that businesses shut down entirely. Having proven that this is a profitable enterprise, attackers will likely further innovate their business models based in ransom and extortion in 2016. Companies will need to follow strict policies and encrypt their sensitive files to prevent ransom ware attacks from gaining traction.
Hacktivists are getting more sophisticated. Hackers are becoming more skilled and highly specialised and this trend will keep growing. In 2015 hacktivists stole and published data in order to attract awareness to their cause. Hackers will always look for new ways to avoid detection. In 2016 they are predicted to use more tactics, techniques and procedures that were previously considered the preserve of cyber criminals.
Mobile payment/transactions - With the rise of mobile payments such as Apple Pay and Google Pay, it is becoming a ripe market to explode with attacks. Apple Pay is increasing in market share, so users should also expect to be wary of attacks in 2016. Due to almost everybody having a mobile device now, cybercrime will shift to smart phone and mobile payments being the likely target.
Cybercrime will continue to thrive and evolve in 2016 but companies will need to take extra care when protecting their data and assume responsibility for their own security.