Trend Micro, a global leader in cybersecurity solutions, predicts cyberattacks will continue to plague businesses this year, with major breaches occurring due to existing vulnerabilities, similar to what was seen in 2017. As corporate “attack surfaces” (points within an infrastructure where an attacker could attempt to access internal networks from the outside) expand and more entry points are exposed, patch management and employee education should be prioritized for all executives to protect an organization’s most critical data.
In Malaysia, information technology and operational technology (IT/OT) will continue to intersect, contributing to a predicted IT spend of up to RM65.2 billion in 2018. Overall, increased connectivity continues to place enterprises at risk of manipulation and give new opportunities for cybercriminals to penetrate corporate networks.
“We at Trend Micro are constantly scouting out future threats that will have the greatest impact for businesses, and we predict which vulnerabilities will make the biggest waves in the coming year,” said Mr. Goh Chee Hoh, Managing Director, Trend Micro Malaysia.
“Many devastating cyberattacks in 2017 leveraged known vulnerabilities that could have been prevented had they been patched beforehand. This trend will continue in 2018 as we see more local enterprises expanding their network connectivity, potentially increasing their exposure to vulnerabilities,” Mr. Goh added.
While this remains a challenge, business leaders should prioritize vulnerability management and be aware of the potential points of entry (both internally and externally). Trend Micro has looked at the current and emerging threat landscape, as well as the recommended security approach for it.
Below are some of the predictions and recommended best practices found in the “Paradigm Shifts: Trend Micro Security Prediction for 2018” report:
The ransomware business model will still be a cybercrime mainstay in 2018, while other forms of digital extortion will gain more ground
- The number of internet users in Malaysia is expected to increase steadily year-on-year to reach 23.41 million by 2022. Regardless of the user type, online best practices such as avoiding opening unverified emails and links embedded in them, and regularly updating software and applications can reduce the risk of getting infected.
Trend: Global losses from business email compromise (BEC) scams will exceed US$9 billion in 2018
- The growing awareness around BEC and the tactics used will contribute to the hike in projected losses worldwide. BEC can be deflected if IT personnel stay on top of and apply security updates in a timely manner. Additionally, employee training and strict protocols on internal processes need to be implemented.
Trend: Cybercriminals will explore new ways to abuse IoT devices for their own gain
- The IoT economic potential for Malaysia expected to reach RM9.5 billion in Gross National Income (GNI) creation by 2020 according to the National Internet of Things (IoT) Strategic Roadmap announced by MOSTI. This means that corporations and individuals will see new security challenges from the increased adoption of these new technologies. Baseline security measure for IoT threats include changing default passwords, implementing strong authentication measures as well as ensuring routers are secure, as wireless connections have been found to be vulnerable.
To access the complete report, “Paradigm Shifts: Trend Micro Security Predictions for 2018,” please visit here.
