Emerging Cyber Threats for 2021 & Beyond

Unsuccessful cybersecurity procedures are the core reason for data breaches, massive cyberattacks, and ransomware incidents. Protecting a business is every leader’s primary goal, along with ensuring the safety of the information they hold. The coronavirus pandemic has made a significant impact on how many organizations do business, with many people now working from home with increased demand for digital video conferencing, network resources, and cloud applications facilitating this shift The speed, wide range of benefits, and connectivity make cybersecurity a must for any client. However, as most Americans shift to a disrupted working environment and companies settle in for a long road ahead, the cyber threats of working with today’s technology amplify.

That said, clients need to understand the cyber risks they face heading into a new year, one already filled with doubt and concern around how we will move forward among unprecedented disruptions.

Here are the emerging cyber threats to look out for in 2021 and beyond.

Coronavirus’ Effects May Linger

Security teams already have enough worry and frustration around COVID-19, as many Americans are now working from home. According to Global Workplace Analytics statistics, 43% of all professionals work remotely either full-time or part-time, splitting their days working from a home office and a commercial office.

Cybercriminals capitalize on current events, like the COVID-19 pandemic. As clients change the way they work, hackers will continue to exploit the virus and see an opportunity to find new entry points. With an increased number of people working from home and in the hospital compared to normal circumstances, networks are increasingly vulnerable to attacks. As long as hackers have more opportunities to find vulnerabilities in home and hospital networks, this trend will continue.

Artificial Intelligence in Cyber Security

Hackers are learning to outpace many organizations regarding the technology and hacking methods used to attack them. IT security professionals can use Artificial Intelligence to enforce helpful cybersecurity practices and reduce the entry points instead of continually scanning for malicious activity.

Simultaneously, state-sponsored attackers and other hackers can employ those same techniques to break down defenses and avoid detection.

As Artificial Intelligence matures and moves more into the cybersecurity space, companies will need to protect themselves against this technology’s possible drawbacks. Artificial Intelligence helps protect against cyberattacks, but hackers can break down security algorithms by zeroing-in on the data they train on.

Hackers can also use Artificial Intelligence to break through defenses and transform malware that changes its composition to avoid exposure. If this kind of manipulation goes unnoticed, organizations can expect to struggle to recover the correct data that feeds their Artificial Intelligence systems.

Phishing Emails

Email remains the top method of cyberattack as criminals are becoming increasingly sophisticated. Today, companies of any size can face a targeted phishing threat and be part of the 3.4 million phishing emails sent daily throughout the world. Whether it’s a phishing attack or an attachment that turns out to be malicious, these hackers prey on human nature. They target a staff’s desire to help or tap into a deal (i.e., “act fast!”).

Currently, hackers are looking to benefit from the global anxiety around the coronavirus. While businesses continue to grapple with remote work processes, cybercriminals seek out new weaknesses as employees, no matter how much training they receive, are easy targets when it comes to clicking on an email that seems innocent.

About Genesee General

At Genesee, we strive to provide quality insurance solutions for the Commercial E & S sector, and we can help with your small, middle market and large excess and umbrella accounts. Our longstanding expertise has allowed us to successfully serve your clients for over three decades. Our specialized products include coverages for Transportation, Garage, P & C, Professional, Brokerage Property, Specialty Programs and many more. For more information about our products, we invite you to contact us today at (800) 282-8755.