Cybersecurity Predictions for 2021


The Best Cybersecurity Predictions For 2021 Roundup

"In 2020, breaches are the digital pandemic proving to be just as insidious and difficult to stop as Covid-19. Cyberattacks on healthcare facilities in the U.S. this year alone have affected 17.3 million people in 436 breaches tracked by the U.S. Department of Health and Human Services (HHS) Breach Portal. That is up from 31 breaches affecting 419,000 people in January alone. Malicious actors often attack healthcare providers because medical records are best-sellers on the Dark Web and are challenging to track and can sell for up to $1,000 each. State-sponsored cyberattacks discovered earlier this month add a new dimension to the cybersecurity arms race that is accelerating."

  • PwC's latest survey finds that 96% of executives have shifted their cybersecurity strategy due to Covid-19 and 40% of executives say they are accelerating digitization.
  • IDC expects worldwide security spending to reach $174.7 billion in 2024 with a compound annual growth rate (CAGR) of 8.1% over the 2020-2024 forecast period.
  • Funding for non-US-headquartered cybersecurity companies will increase by 20% in 2021, according to Forrester's 2021 cybersecurity predictions.
  • Analysys Mason predicts mobile device security will be the fastest-growing cyber-security category of all, attaining a 17% CAGR between 2019 and 2025, reaching $13 billion.

The following predictions provide insights into how cybersecurity will evolve in 2021:

55% of enterprise executives plan to increase their cybersecurity budgets in 2021 and 51% are adding full-time cyber staff in 2021.
PwC found that most executives are planning to ramp up their cybersecurity spending in 2021 despite the majority of them, 64%, expecting business revenues to decline. PwC found that cybersecurity is more business-critical than ever before. "The circumstances we find ourselves in with the economy are putting a lot of pressure on security organizations to make sure that the investments we're making are efficient and high-value," says Katie Jenkins, CISO, Liberty Mutual...

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Note: Originally published in Forbes magazine and republished with the kind permission of Mr. Louis Columbus.
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Ransomware and Cyber Vaccines Video Presentation by Ondrej Krehel, PhD, CEI, CEH, EnCe, CISSP

New forms of ransomware attacks such as Ryuk, Bitpaymer and DoppelPaymer are asking for seven figure payments, for example a medical practice was asked for a 3.5 million ransom payment. Ransomware #malware variants have become more sophisticated, and this presentation will walk through case studies about techniques, tactics and procedures observed by real threat actors. Cyber Vaccines, such as the Dridex Cyber Vaccine will be introduced as a method of removal and enterprise resilience measures like system hardening to prevent lateral movements will be discussed.
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The Office of Foreign Assets Control (OFAC) issued an advisory to companies, DFIR providers, insurers, and money remitters reminding the business community that paying ransoms to sanctioned parties is prohibited by U.S. law.

Q: What actions and transactions does OFAC prohibit with this advisory, and has it always been this way?

Q: Are all ransoms prohibited, and if not, what do the OFAC regulations prohibit? 

Q: What controls does OFAC expect from the business community.

Q: What about involving law enforcement in the incident response?

Q: You mentioned that OFAC may give permission for certain payments. How likely is this, and what does a firm need to do?

Q: I think my company may need a robust OFAC compliance program in light of this advisory. Where did I even start?
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