Cybersecurity and Data Privacy Trends to Expect In 2020

Cybersecurity and Data Privacy Trends to Expect In 2020
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In the cybersecurity world, trends can change faster than a Google search. 2020 presents a multitude of new challenges for protecting data and consumer privacy. From a Presidential election to a host of new legislation, the tech world is in for a whirlwind of a year. The law firm of McDonald and Hopkins put together this list of the top cybersecurity and data trends to expect in 2020.

  1. Exploitation of remote access vulnerabilities: Working remotely is more popular than ever in today’s business world, but it can present security challenges.  One drawback is the ease of access for criminals to steal data via the deployment of malware through these remote access tools. Businesses should take proper precautions with their remote access tools.
  2. Election security: As the 2020 general election draws closer, state and local election officials have been rapidly updating their election systems to protect voters’ information and prevent fraud. Updating these election systems will be paramount as the year continues.
  3. State-sponsored cyberattacks: As international tensions rise, the US Department of Homeland Security warns companies of the possibility of state-sponsored cyber attacks. Companies should conduct regular data inventory checks and risk assessments of the cyber threats they may face.
  4. Regulatory scrutiny and state data privacy/security legislation: New privacy laws continue to be passed and put into law at a rapid rate. Businesses must be prepared to be in compliance with these laws and change their procedures to remain in compliance.
  5. Ransomware: Ransomware continues to be a serious problem. As organizations have taken steps to securely back-up their data, mitigating the need to pay.  Criminals are shifting their tactics, targeting backs ups, increasing the likelihood their ransom demands are paid. Organizations must be prepared for an attack unlike any they’ve seen in the past.
  6. Business email compromise: While business email compromise (BEC) is nothing new, cybercriminals continue to infiltrate and compromise email accounts to re-direct wire transfers, invoice payments and W-2’s. Businesses should implement procedures for employees and staff to take steps to confirm requested changes to wire instructions, changes to vendors’ bank account information or unusual and/or urgent internal requests for wire transfers.   Businesses should also be taking steps to improve security against unauthorized access to their systems.   A BEC can particularly impact healthcare entities because they are subject to both HIPAA and state privacy laws.  These entities should evaluate their internal transmission of patient information to reduce the impact of a business email compromise attack.

In today’s world of ever-changing technology, companies must stay on top of trends and make changes to procedures or the organization as a whole. Talk to a trusted advisor today about how your business can implement safeguards to stay ahead of the trends.

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