2014 Cybersecurity Threats to Money & Data

11 February 2014 Internet, IT & e-Discovery Blog Blog
Authors: Peter Vogel

“Cybercriminal gangs of the 21st century will target cloud-based applications and data repositories because that’s where the data is” as predicted in  McAfee® Labs’ 2014 Threat Predictions.  Cloud cyber vulnerability was stressed by McAfee:

  • This could be through business applications that have not been assessed by IT against corporate security policies.
  • According to a recent report, more than 80% of business users use cloud applications without the knowledge or support of corporate IT.

The 2014 Threat Predictions were presented in 7 categories:

1: Mobile malware will be the driver of growth in both technical innovation and the volume of attacks in the overall malware “market” in 2014.

2: Virtual currencies will fuel increasingly malicious ransomware attacks around the world.

3: In the spy vs. spy world of cybercrime and cyberwarfare, criminal gangs and state actors will deploy new stealth attacks that will be harder than ever to identify and stop.

4: “Social attacks” will be ubiquitous by the end of 2014.

5: New PC and server attacks will target vulnerabilities above and below the operating system.

6: The evolving threat landscape will dictate adoption of big data security analytics to meet detection and performance requirements.

7: Deployment of cloud-based corporate applications will create new attack surfaces that will be exploited by cybercriminals.

Willie Sutton robbed banks because “that’s where the money is,” so McAfee made the point that cybercriminals go where the money and cloud data are using the quote “credited to Willie Sutton, who is said to have robbed 100 banks in the early 20th century.”

In the #3 spy v. spy world of cybercrime McAfee predicted:

Politically motivated attacks will continue to increase, especially around the 2014 Sochi Winter Olympics (in February) and the FIFA World Cup in Brazil (June-July). Hacktivists will also take advantage of these events to promote their ideas.

So stay tuned to see cyber warfare in 2014.

This blog is made available by Foley & Lardner LLP (“Foley” or “the Firm”) for informational purposes only. It is not meant to convey the Firm’s legal position on behalf of any client, nor is it intended to convey specific legal advice. Any opinions expressed in this article do not necessarily reflect the views of Foley & Lardner LLP, its partners, or its clients. Accordingly, do not act upon this information without seeking counsel from a licensed attorney. This blog is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Communicating with Foley through this website by email, blog post, or otherwise, does not create an attorney-client relationship for any legal matter. Therefore, any communication or material you transmit to Foley through this blog, whether by email, blog post or any other manner, will not be treated as confidential or proprietary. The information on this blog is published “AS IS” and is not guaranteed to be complete, accurate, and or up-to-date. Foley makes no representations or warranties of any kind, express or implied, as to the operation or content of the site. Foley expressly disclaims all other guarantees, warranties, conditions and representations of any kind, either express or implied, whether arising under any statute, law, commercial use or otherwise, including implied warranties of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Foley or any of its partners, officers, employees, agents or affiliates be liable, directly or indirectly, under any theory of law (contract, tort, negligence or otherwise), to you or anyone else, for any claims, losses or damages, direct, indirect special, incidental, punitive or consequential, resulting from or occasioned by the creation, use of or reliance on this site (including information and other content) or any third party websites or the information, resources or material accessed through any such websites. In some jurisdictions, the contents of this blog may be considered Attorney Advertising. If applicable, please note that prior results do not guarantee a similar outcome. Photographs are for dramatization purposes only and may include models. Likenesses do not necessarily imply current client, partnership or employee status.

Authors

Related Services

Insights