The past year’s global migration to the cloud due to the pandemic is just the latest in a series of black swan events that cybercriminals will be seeking to capitalize on.
2020 will go down in the annals of corporate history as a game-changing year. Even now, as we slowly begin to emerge from a pandemic that forced entire countries into lockdown, our collective economic futures are still shrouded in uncertainty. Those businesses that have managed to weather the turbulence have had to undergo significant change, with some industries reportedly cramming a decade’s worth of digital development into the space of 90 days in something McKinsey calls The Quickening.
However, with rapid change comes vulnerability, and where there is security there is often complacency. Whenever the status quo is threatened, those that have found relative stability are often the first to fall as bad actors seek to take advantage of the turmoil. The past year’s global migration to the cloud due to the pandemic is just the latest in a series of black swan events that cybercriminals will be seeking to capitalize on, but this time many businesses have been caught well and truly on the back foot. In this article, we’ll take a look at the top five cybersecurity risks and trends to look out for as we navigate the choppy waters of 2021.
State of play
Since the pandemic and the virtual wholesale migration to remote working, nearly 70% of business leaders became acutely aware of their cyber vulnerability increasing. In the U.S., the FBI has reported a 300% increase in the number of cyberattacks since early 2020, and recent data published by Google showed a staggering 18 million daily phishing attempts at the start of the pandemic. A report by Verizon reveals that the number one motivation for cybercrime in 2021 is financial gain and exploitation, which effectively puts any business at risk regardless of sector or industry.