Looking Back on 2021
Join us as we take a look at the predictions we made last year for what the 2021 cyber threat landscape would look like and see which came true and which ones weren’t as big a threat as predicted. To view the 2021 Cybersecurity Predictions blog, click here.
Continued Focus on Improving Security for Remote Workers
In 2020, remote workers were a concern for IT teams, especially since many of them were using their own devices. We predicted that this would continue to be a problem in 2021, and that organizations would start relying on zero-trust security models to better protect their data from attacks.
Many security teams did struggle this year with implementing safe security practices when it came to remote workers. Almost 80% of IT personnel who participated in a HP survey felt like remote work had “become a ‘ticking time bomb’ for a network breach.”
However, as we predicted, 78% of IT teams that participated in the HP survey did restrict access to websites, applications and files to better protect their organization’s data.
Executives are now reporting that their budgets more accurately reflect the challenges remote work adds to the organization’s threat landscape. With more and more businesses switching to totally remote, online work practices, zero-trust security measures are being implemented in more organizations to ensure data confidentiality.
Cyberthreats in Healthcare
In 2020, the healthcare industry was a target for cybercriminals and it continued to be one in 2021 as well. We predicted that because of the valuable and confidential information held by the industry, they would become an even bigger target.
Medical equipment and networks remained at risk in 2021 and caused a number of security incidents exposing both patients directly and patient information to cybercriminals. This was exacerbated as advances in medical equipment are made but the tech to support them remains outdated. Additionally, portable medical devices become a major cyber risk once the patient leaves the hospital, and the device cannot be monitored.
For example, in August of this year, it was discovered that there was a vulnerability in 2 type B. Braun infusion pumps. These vulnerabilities could allow cybercriminals to access the dosage information on these devices and potentially give patients the wrong, and possibly lethal, dose. And in October of this year, the US Food and Drug Administration also found issues with Medtronic Minimed remote controllers which made them easily hackable by outside cyber threat actors.
Ransomware and Breaches Will Continue to Rise
Last year was a record year for ransomware attacks, but 2021 knocked the 2020 numbers off their pedestal within the first quarter of the year. We predicted that this year ransomware attacks would get worse, and that organizations that paid the ransom would be targeted again.
We were right - organizations that paid the ransom were targeted again, either by the same ransomware group or by a different one. For example, in March of this year, Acer was targeted in a ransomware attack where they paid a $50 million ransom to the ransomware group, REvil. As a result of paying the ransom, Acer was again targeted by REvil in another ransomware attack in October, though it remains unclear whether they paid the ransom this time or for how much.
Another example that paying the ransom doesn’t always mean that the attack is over is the Colonial Pipeline ransomware attack that occurred in May. Colonial Pipeline was quick to pay the $5 million ransom requested by the ransomware gang, DarkSide, but the decryption key they received in return did not work to decrypt their data.
Financial Cyber Threats
Last year the financial industry saw a 238% increase in cyberattacks as a result of the pandemic – that number increased to 1318% for ransomware attacks alone this year. We predicted that the threat for the financial sector would only continue to rise, and that cybercriminals would perfect even more methods for attacks in 2021. We also predicted that many financial institutions lacking the basic protection necessary to secure their assets would be especially targeted this year.
In a survey conducted by Deloitte, 3 out of 4 respondents reported that cyber threats against their financial institution had increased or increased significantly over the last 2 years. The survey also revealed that phishing is considered the number 1 threat for financial institutions by more than half of participants. The second biggest threat was technical vulnerabilities that are exploited by cybercriminals in order to gain access to the bank’s network and confidential data.
As we predicted, less than 10% of financial institutions have implemented all basic cybersecurity measures such as a response plan, self-defense plan, cybersecurity training and cyber hygiene.
While we didn’t see too many advances in new methods of attack, the overall implementation of fundamental cybersecurity practices is still a thing of the future for the financial sector.
Smart Devices and 5G Devices Continue to be at Risk
Last year we predicted that cybercriminals would continue to take advantage of smart device vulnerabilities.
This year, Which? partnered with NCC Group and the Global Cyber Alliance in conducting a study on IoT vulnerabilities. For their study, they filled a home with multiple IoT devices such as TVs, thermostats, smart security systems and other items that would typically be found in a home. The study found that in a single week in June, 12,807 attacks were attempted. The most common attempted attack was trying to login to the devices via weak passwords and usernames. Most of the devices were not compromised by these attacks, though the study did show that cybercriminals are actively trying to hack into your smart devices via the usual methods.
Cloud Security
While many organizations are making the switch to cloud-based platforms, we predicted that unless the proper security measures are in place, that those organizations may suffer from security incidents because of gaps in security controls. We predicted that cybercriminals would take advantage of cloud misconfigurations or vulnerabilities, as well as making use of phishing tactics to extort errors in cloud-based platforms that are not properly secured.
The 2021 IBM X-Force Report found that some of the top threats around cloud security include the vulnerabilities we predicted. The Report found that in 71% of cases, cybercriminals are able to access confidential information through offering Remote Desktop Protocol access to threat resources. They also found that in 100% of the tests conducted, issues were found involving weak or poor passwords as well as policy issues. Additionally, two-thirds of cloud breaches are believed to have been avoidable had proper security policies and software updates been implemented.
Espionage Will Continue
Last year we predicted that the trend of espionage would continue in 2021, and that appears to have been true as well.
Did you find this blog helpful? Make sure to share it with your teams and colleagues to foster a positive and knowledgeable cybersecurity culture. Stay tuned for our 2022 Cybersecurity Predictions coming soon!