We are aware of the universal law that change is constant. This is true when it comes to cyber threats too. Cyber threats do not just change but also evolve with time. In this article we will be looking at some of the major threats to look out for in 2021.

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Now let us look at some of the major cyber threats to look out for in 2021.

1. Sophisticated Phishing

Phishing is done by sending digital messages to people and scamming them to click on the link. Once the person clicks on the link some form of malware gets installed or their sensitive data is exposed. Now hackers are employing new tactics to achieve their aim. They have started using machine learning to quickly create and distribute fake messages. This is one of the major threats that people should be aware of and take necessary precautions against.

2. Advanced Ransomwares

Ransomwares are used by hackers to get sensitive information about individuals and organizations. This information is held by them for ransom. Hackers have started to target more individuals who have high net worth. Another reason why ransomwares are increasing is because of the rise of cryptocurrencies. Cryptocurrencies can be exchanged anonymously and therefore help in the payment of ransom.

3. Cryptojacking

In cryptojacking hackers use third party computer systems to ‘mine’ cryptocurrency like Bitcoins. This is problematic because they use the processing power of organizations for the purposes of mining and it compromises the work of that particular organization. The performance of an organization’s computer system is lowered due to crypto jacking and the organization not able to complete its task efficiently.

4. Cyber Physical Attacks

With the advancement of technology hackers will now be able to target physical properties. Electrical grids, water treatment facilities, transportation systems, etc will become vulnerable to cyber attacks. The scope of this threat is even larger when we take into account the threat to military systems. If not protected, hackers will be able to take control of military technology and weapon systems. Terrorist organizations will be able to target enemy countries and cause large scale destruction.

5. State Sponsored Attacks

Now cyber attacks are sponsored by countries. Now nations are using these methods to gain access to sensitive information about other countries. It is expected that such state sponsored attacks are likely to increase in the future. To shield against such attacks, countries need to invest in better cyber security systems.

The million dollar question now is how can we protect ourselves against cyber frauds and cyber attacks? There are various methods to protect ourselves from such threats. Visiting top finance conferences will help you get more insight into these matters and make you better prepared.