Researchers from Fortinet have identified several cybersecurity threats for 2021 that will greatly impact both the consumer and enterprise sector. By 2021, cybersecurity threats on intelligent edge computing and 5G-enabled devices will double as most companies continue to implement remote working schemes.

A new wave of cybersecurity threats will also arise due to advances in computing. These threats have the potential to disrupt a large number of businesses and consumers in the future. Thus, preparation and eventual mitigation are key to stemming the potential disruption by these threats.

Threats on the intelligent edge are on the rise

Intelligent edge computing is more popular than ever thanks to remote work with most employees making use of personal and interconnected devices to access the company network. However, intelligent edge computing presents new threats as cybercriminals exploit these “edges” (i.e. connected IoTs, personal devices) thanks to a decentralized approach by companies.

These threats can run the gamut from ransomware to malware. As intelligent edge computing booms, cybercriminals can specifically target edge devices with malware that could disrupt corporate networks. They can design malware that could understand usage patterns, adapt accordingly, and attack networks with little to no risk of suspicion. Moreover, sophisticated malware may spread through networks to propagate additional attack commands or disrupt more networks and devices.

Ransomware on the rise

This 2021, consumers and businesses should be more concerned with social engineering-based attacks and ransomware. One of the most common forms of social engineering-based attacks is phishing. In phishing, cybercriminals send fake emails supposedly from legitimate entities coercing users into sending their personal information. For example, a user may receive a fake bank email notice warning of impending account closure but contains malicious links instead.

Illustration/Sketchify via Canva

These attacks may even lock users from their personal data, holding them hostage until they pay a hefty amount of cash. Ransomware attacks do just that, affecting not only consumers but also the enterprise sector. As more businesses rely on edge devices for critical operations, the potential for a future ransomware attack rises significantly posing more risks than ever before.

Human lives are also at stake with ransomware attacks that blow out of control. An example of this happened last year when several hospitals across the US were hit by a variant of the Ryuk ransomware. As a result, several hospitals have to transfer their patients to other facilities since their systems cannot perform patient monitoring and other critical operations.

Advances in crypto mining and attacks on satellite-based networks

Bringing artificial intelligence and machine learning could also open up advances in crypto mining. While not inherently bad, cybercriminals can infect consumer devices more easily and gain access to system resources. When abused, crypto mining could potentially impact any device and affect users’ experience.

Meanwhile, network operators should prepare for more advanced attacks as they become reliant on satellite-based systems. Cybercriminals could infect a satellite base station and propagate malware to connected devices. Satellite-based networks could become a conduit for distributed denial-of-service (DDoS) attacks in this way.

As an example, a cybercriminal could hijack a base station and inject scripts into other devices. In turn, infected devices could run malicious commands that could disrupt the connection of other networks.

Quantum computing, preparing for present and future threats

Quantum computers are the next big thing in computing, relying on qubits instead of the traditional binary bit present in all devices today. Research in quantum computing has made significant progress over the years, with working quantum computers not too far on the horizon.

Quantum computers, however, could also pose a new problem in the future. In the future, these can break traditional encryption algorithms rendering encryption moot. Fortinet advises businesses to adapt accordingly by using the principles of crypto agility.

Illustration/Sketchify via Canva

In the meantime, businesses can readily adapt to these threats through a careful combination of technology, people, training, and partnerships. Artificial intelligence (AI) and machine learning (ML) are also key technologies for preparing against and mitigating future cybersecurity threats. Businesses can train AI to spot attack patterns and identify threats even before they become a reality.

Partnerships are also vital in stemming the tide against cybercriminals. The enterprise sector, for example, could partner with law enforcement agencies for information sharing and dismantling of malicious networks.

Cybersecurity threats are here to stay

Connected devices have transformed society by enabling instant communication and richer user experiences. However, it also opens up new threats from cybercriminals willing to exploit and gather sensitive data.

There’s an old adage that says that an ounce of prevention is worth a pound of cure. The same adage applies all the more in cybersecurity. Threats are here to stay, so consumers and businesses should prepare and mitigate potential impacts as much as possible. Thankfully, it is easy to stay safe and protected by following best practices.

SEE ALSO: 6 tips to make your phone more secure and private