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BANKING TECHNOLOGY, CO-WRITTEN / PARTNER | Staff Reporter, Malaysia
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Top 3 security threats to watch out for in 2016

Are firms prepared for these?

The past years have been pretty tough on the cybersecurity scene especially with high profile hacks involving multinational companies worth billions of dollars. In fact, it gets worse over the years as technologies become more advanced, much faster than the eyes can blink while cyberattacks become increasingly more sophisticated than before.

That said, upon our research, we have shortlisted several security threats which have been identified to be the biggest security threats we’ll face in 2016. Among the top 3 including:

1. Extortion Hacks
After the Sony Pictures hack in 2014, otherwise known as the most devastating cyberattack to date, it has been predicted that extortion hack which means attackers threaten to release an organisation’s sensitive data should their demand(s) is not met, has been on top of the list of security threats to watch out for. Such hacks will bring down the organisation in all ways including loss of jobs and lawsuits from customers upon the reveal of sensitive data. 

2. Data Breaches
Data breaches usually involve hackers stealing payment information which could result in the same situation as extortion hacks. These breaches however, are usually done to major retailers such as hotels including Hilton, Starwood, among others, which were victims of these attackers in 2015. For 2016, predictions are focusing on medical data breaches where hospitals and insurance companies are struggling to get a handle on digital security. 

3. IoT Zombies Attacks
With the Internet of Things (IoT) being the talk of town of late, it is not surprising that the hackers are slowly but surely finding ways to attack the multiple devices we have at home or at work which have easy access to our personal information. Such devices include gadgets such as our smart TVs, CCTVs, infant monitors are among the gateways for attackers to breach into our lives. An example of such attack is on the Hollywood Presbyterian Medical Center in LA which paid $17,000 after its computer system was taken over by hackers. This caused its employees to take down patient information manually and it was mentioned that emergency rooms, pharmacies and radiology departments were also sporadically impacted.

Henceforth, people these days are getting more sensitive and selective about sharing their data especially on the internet where all these cyber attackers are roaming actively. That said, *BIGIT Technology Malaysia 2016, the Anchor Event of the Big Data Week Asia 2016 will be featuring concurrent conferences including the 4
th Big Data World Show, Data Security World Show and the BIGIT Exhibition.

Co-organised by Malaysia Digital Economy Corporation (MDEC) - Malaysia’s government agency leading the national Big Data Analytics initiative, the event is held at KLCC Convention Centre, KL, Malaysia this September 19 & 20.

Join us and be in the presence of our highly targeted audience attending from all over the world with an expected turnout of over 3,000 delegates and trade visitors across various industry verticals and job specialisations. 

In conjunction with World Information Society Day this month, BIGIT Technology will be having an exclusive online sales for BIGIT Technology Malaysia 2016 passes, 50% off and more! Sign up with the code "BMY16ABFWIS" here: http://bigittechnology.com/malaysia2016/signmeup/

Don't miss this out! #BIGITMY2016
 

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