The Symantec 2018 Cybersecurity Predictions

The Symantec 2018 Cybersecurity Predictions Part 3/3

The Symantec 2018 Cybersecurity Predictions

The Symantec 2018 Cybersecurity Predictions Part 3/3

Financial Trojans Will Still Account For More Losses Than Ransomware

Financial Trojans were some of the first pieces of malware to be monetised by cyber criminals. From simple beginnings as credential harvesting tools, they have since evolved to advanced attack frameworks that target multiple banks, and banking systems that send shadow transactions and hide their tracks. They have proven to be highly profitable for cyber criminals.

Today the move to mobile application-based banking has curtailed some of the effectiveness, so cyber criminals are now moving their attacks to these platforms. Cyber criminals’ profits from Financial Trojans is expected to grow, giving them higher gains as compared to Ransomware attacks.

 

Expensive Home Devices Will Be Held To Ransom

Ransomware has become a major problem and is one of the scourges of the modern Internet, allowing cyber criminals to reap huge profits by locking up users’ files and systems. The gold-rush mentality has not only pushed more and more cyber criminals to distribute ransomware, but also contributed to the rise of Ransomware-As-A-Service and other specializations in the cyber criminal underworld.

These specialists are now looking to expand their attack reach by exploiting the massive increase in expensive connected home devices. Smart TVs, smart toys and other smart appliances can run into thousands of dollars and users are generally not aware of the threats to these devices, making them an attractive target for cyber criminals.

 

IoT Devices Will Be Hijacked and Used in DDoS Attacks

In 2017, we have seen massive DDoS attacks using hundreds of thousands of compromised IoT devices in people’s homes and workplaces to generate traffic. This is not expected to change with cyber criminals looking to exploit the poor security settings and management of home IoT devices.

Furthermore, the inputs and sensors of these devices will also be hijacked, with attackers feeding audio, visual or other faked inputs to make these devices do what they want rather than what users expect them to do.

 

IoT Devices Will Provide Persistent Access to Home Networks

Beyond DDoS attacks and ransomware, home IoT devices will be compromised by cyber criminals to provide persistent access to a victim’s network. Home users generally do not consider the cyber security implications of their home IoT devices, leaving default settings and not vigilantly updating them like they do with their computers.

Persistent access means that no matter how many times a victim cleans their machine or protects their computer, the attacker will always have a backdoor into victims’ network and the systems that they connect to.

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