Complex cyber-physical systems will continue to present tough security challenges that must be met in innovative ways. As smart buildings, smart cities, smart homes, and the internet of things become an exciting reality, vulnerabilities continue to grow, making almost everything a playing field for hackers who continue to get creative in their attacks.
In August of 2016, Cybersecurity Ventures predicted that cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015. This represents the greatest transfer of economic wealth in history, risks the incentives for innovation and investment, and will be more profitable than the global trade of all major illegal drugs combined.”
Whats happening now
With these increasing stats, we have also seen In recent news that a top-secret communications system used by criminals to trade drugs and firearms has been successfully combated.
The National Crime Agency worked with forces across Europe on the UK’s “biggest and most significant” law enforcement operation.
Major crime figures were among over 800 Europe-wide arrests after messages on EncroChat were intercepted and decoded.
More than two tonnes of drugs, several dozen guns and £54m in suspect cash have been seized.
It was estimated that around 60,000 people subscribed to the French-based EncroChat. The system was operated on Android phones and claimed to be a “worry-free” communications tool. Customers had access to features such as self-destructing messages that deleted from the recipient’s device after a certain length of time. The communications platform has seen been closed down and law enforcement agencies continue to monitor cybercrime activities.
How to stay protected
According to Tech Radar, the best way to keep hackers at bay “hackers continue to innovate, the winners of 2020 will be those who match the pace of innovation. AI for cyber defence presents the most promising defence weaponry in the arms race, as it is the only force capable of combatting offensive AI and other yet-unseen attacks. In the intense geopolitical heat of the present moment, we must look ahead and prepare for battle.
Credit: Tech Radar, National Crime Agency, Cybersecurity Ventures