As business becomes increasingly digital and big data continues to boom, cybercrime is rapidly increasing – evidenced by the increasing number of global attacks that dominate news headlines, such as Wannacry and Petya.
“A common misconception is that cybercrime won’t happen to you, but South African businesses are at risk – much like any other business globally,” said Indi Siriniwasa, Vice President of Trend Micro’s Sub-Saharan Africa region.
South Africans fell victim to 15 million ransomware attacks in 2017, and Trend Micro products detected over 10 thousand incidents of mobile malware and online banking malware. According to a Trend Labs report, over 133 million incidents of malicious code were detected in South Africa.
The global threat landscape is constantly evolving, with hackers leveraging the broader surface offered by the enormous availability of data. Siriniwasa outlined the following trends to watch out for in 2018.
- Ransomware: Ransomware attacks will continue to affect organisations in 2018, and these attacks will increase both in volume and sophistication. Organisations need a layered security approach in order to keep one step ahead.
- Business email compromise scams: Business email compromise (BEC) attacks are projected to exceed $9 billion in 2018.
- Cryptocurrency mining: Cryptocurrency’s ascent has inspired a new wave of malware, said Siriniwasa. Cryptocurrency mining was the most-detected network event in devices connected to home routers in 2017, and this is set to increase in 2018.
- Mobile malware: More high-end malware for mobile is expected in 2018, as a result of an increase in the attacks. Phones are more difficult to hack than PCs, but there is a greater wealth of information on them,said Siriniwasa.
- Mobile banking malware: Mobile banking malware risks are worsening, and consumers should install technologies that can detect the presence of malware on mobile devices.
- IoT: Securing IoT devices will be a major cybersecurity challenge for 2018. IoT devices could lead to breaches that are bigger and more invasive than we’ve ever seen, said Siriniwasa.
How Trend Micro is taming the chaos
Preventing damage from cyberthreats means preparing for them, but the next tier of digital threats requires next-level solutions.
“Hackers are getting smarter and changing the game. The reality is that companies are playing catch-up, which is why it’s important to ensure that your data is adequately protected,” said Siriniwasa.
“Trend Micro launched its Smart Protection Network to offer businesses up-to-the-second threat intelligence, because that is the level of protection you need today.”
The Trend Micro Smart Protection Network delivers proactive global threat intelligence against zero-hour threats using the latest data science techniques, such as hybrid cloud machine learning.
The solution makes use of an extensive cloud-based protection infrastructure, with Trend Micro’s threat defence experts and its vast global network constantly collecting data and identifying threats, giving businesses threat visibility across platforms, security layers, and users globally.
For more information, visit the Trend Micro website.
This article was published in partnership with Trend Micro.