5 cyber security trends in 2020 businesses need to know

Mybusiness | March 11, 2020

As Australian businesses continue to move their operations online, large corporations and small to medium enterprises (SMEs) alike are grappling with increasingly savvy cyber attacks. According to Business Victoria, such attacks can cost businesses an average of $276,000 to detect, recover, and repair. SMEs are particularly vulnerable, with some sources suggesting that as much as 43% of all cyber attacks in Australia target smaller businesses. Against this backdrop, it’s critical that business owners keep informed of the current cybersecurity trends and equip themselves with the tools to combat them. That’s why we’ve teamed up with cyber security experts ESET to bring you the top 5 cyber security trends Australian business owners need to know in 2020. From ransomware attacks to business email compromise scams, read on to learn cybersecurity trends in 2020 that you should be mindful of.

Spotlight

Today, most IT security is based on prevention – an attempt to create counter measures against previously identified tactics and threats. In theory, understanding how hackers attack us helps us prepare our best defenses against them. But in practice, we can never build our virtual walls high or strong enough to serve as sufficient barricades. For starters, old tactics evolve and new tactics emerge at a rate impossible for security professionals to match. Spear phishing targets our most vulnerable employees and watering holes attract the unwary. Our best “sandbox” malware analyses can miss some of the latest suspect behaviors. It’s impossible to predict when and where the technologies we rely upon, such as Flash or Java, will suffer the exploitation of a previously undetected (a.k.a. zero-day) vulnerability.

Spotlight

Today, most IT security is based on prevention – an attempt to create counter measures against previously identified tactics and threats. In theory, understanding how hackers attack us helps us prepare our best defenses against them. But in practice, we can never build our virtual walls high or strong enough to serve as sufficient barricades. For starters, old tactics evolve and new tactics emerge at a rate impossible for security professionals to match. Spear phishing targets our most vulnerable employees and watering holes attract the unwary. Our best “sandbox” malware analyses can miss some of the latest suspect behaviors. It’s impossible to predict when and where the technologies we rely upon, such as Flash or Java, will suffer the exploitation of a previously undetected (a.k.a. zero-day) vulnerability.

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