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LogRhythm 2020 Predictions: How Biometrics and Ransomware Will Shape 2020

VMblog Predictions 2020 

Industry executives and experts share their predictions for 2020.  Read them in this 12th annual VMblog.com series exclusive.

By James Carder, CSO and Vice President of LogRhythm Labs

How Biometrics and Ransomware Will Shape 2020

2019 started off with continued fallout from Marriott's massive data breach, and unfortunately, hacks and breaches occurred consistently for the rest of the year, resulting in more than 5,000 breaches and exposing about eight billion records. Ransomware contributed to a great deal of these breaches, and we're sure to see its continued proliferation in the future. In addition, biometric identification and authentication continued to rise, which is no surprise, given the potential it has to make various aspects of our lives easier.

And while there is no way to predict exactly what will occur in the year ahead, one thing is clear - cybercriminals are not slowing down, and they're using every tool at their disposal. With that, this is how I feel biometrics and ransomware may shape 2020 for cybersecurity:

1.       We'll see the consequences of increased adoption of biometrics. Before we see adequate regulation and security to protect biometric data, there are going to be some unlucky people whose biometric information is stolen and used for repeat fraud. If your credit card details are stolen, you can easily change your account number. But what if your face gets stolen? Once that information is compromised, there's no swapping it out. Before the industry catches up and understands how to properly protect it, we're going to see the consequences of the increased adoption of biometrics.

2.       Ransomware is going to expand into the critical infrastructure business. Ransomware continues to be easy cash for hackers, recently reaching an average payout of $41,000 USD. Given ransomware's proven track record, it's time for hackers to take it to new markets. Critical infrastructure is a prime target: while most ransomware isn't built to target this type of infrastructure, it can still be used in those environments, and shutting down a power grid is certainly going to yield a significantly higher than average payout - not to mention it could lay the foundation of distrust in the government's ability to protects its citizens. Critical infrastructure is due for another significant breach anyway, making 2020 the perfect opportunity to introduce ransomware into this space.

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About the Author

James Carder 

James Carder brings more than 22 years of experience working in corporate IT security and consulting for the Fortune 500 and U.S. Government. At LogRhythm, he develops and maintains the company's security governance model and risk strategies, protects the confidentiality, integrity, and availability of information assets, oversees both threat and vulnerability management as well as the security operations center (SOC). He also directs the mission and strategic vision for the LogRhythm Labs machine data intelligence, threat and compliance research teams.

Published Tuesday, January 21, 2020 7:20 AM by David Marshall
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