According to the report from Cybersecurity Ventures, cybercrime damages will reach over US $6 trillion annually by 2021, up from $3 trillion in 2015.  

There were some of the major cybercrimes in News this year. 

SolarWinds: Malicious code being pushed to nearly 18,000 customers (Read more) 

Twitter: Twitter handles were hacked and used to fraudulent tweet about bitcoin. 

Marriott: Personal details of approx. 5.2 M guests were counterfeit accessed. 

MGM Resort Properties: Personal data of 10.6 M Guests were shared on a hacking forum. 

Zoom: Zoom experienced credential stuffing of approx. 500,000 users through a dark web forum

Magellan Health: One of the largest data breaches reported in 2020. 

Finastra: 90 of the top 100 banks were the victim of ransomware attacks who used the software solution. 

In 2020, the top 4 main causes of these cyber crimes were social engineering, data security, ransomware, and patch management. (Read more about cybercrimes here.) 

Listed below are some articles published by experts with regards to their predictions as it relates to Cybersecurity for 2021:

  1. Cybersecurity Predictions and trends for 2021 – Written by Joseph Carson :
    The blog talks about the current crisis and the security predictions like cloud security as the first choice security strategy with other aspects tied to privileged user access to every user, passwords replaced with biometrics, behavior analytics, and multifactor authentication, and few others.
  2. Security Predictions for the New Year: Budgets will Suffer in 2021 – Written by Laurence Pitt 
    This comprehensive blog talks about how small budgets with smarter security plans will reduce the (remote working) security pain points.
  3. The Year of the Pandemic and 2021 Cybersecurity Predictions – Written by Outpost Expert Panel (Martin Jartelius, CISO; Hugo van denToorn, Team Leader Offsec; John Stock, Product Manager Network and Wireless Security; Sergio Loureiro, Product Manager Cloud Security; Simon Roe, Product Manager Application Security.)
    The blog vastly talks about Covid19 security trends, hacking and persistent threats, technology security trends and enterprise security investment trends.
  4. Seven cybersecurity predictions for 2021 – Written by Anurag Kahol
    This blog especially talks about the major seven predictions that will affect enterprise and cybersecurity leaders.
  5. 2021 Cybersecurity predictions Written by Watchguard
    This blog emphasizes on new and innovative ways that cybercriminals will use to attack individuals, homes, IoT devices, and trusted corporate networks.

As we step into 2021, businesses have to be extra vigilant about protecting their and their customers’ data and infrastructure. A top-down assessment of the companies assets, its security practices and tools used is imminent to avert disasters that threaten the very existence of businesses. The key is to be proactive and handle this head-on and make security part and parcel of all conversations within the organization and give the priority it deserves.