The Role of Tech in Fighting Cyber Crime

Data from the Official Cybercrime Report published by Cybersecurity Ventures estimates that cybercrime will cost the world $6 trillion annually by 2021.

As technology becomes more sophisticated, so do the methods used by cyber attackers. We’re living in an age of constant digital warfare, where nuclear bombs are 1’s and 0’s passed between networks.

According to the Official Cybercrime Report published by Cybersecurity Ventures, it is estimated that cybercrime will cost the world $6 trillion USD by 2021.

One of the reasons that cyber criminals have kept up with cyber security is that technology is incremental, and it’s not difficult for cyber criminals to stay current.

However, there are radical technologies that can leave cyber criminals in the dust, and we’re going to take a look at some of the promising tech being utilized in the fight against cyber crime.

Should you invest in cyber security tech?

Enterprise companies typically have access to the latest state-of-the-art tech, but SMBs may be wondering what are the best options for preventing cyber attacks.

While public sector technology catches up with the private sector, it’s important to be aware of basic security measures your business can utilize to protect itself, such as how you can detect credit card fraud.
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Advantages of AI-driven Cybersecurity

Advancements in deep learning and artificial intelligence are able to address many cybersecurity problems.

Real-time detection

Traditionally, IT departments must scan through server logs to find evidence of intrusion. AI can do this automatically, in IDS/IPS systems (Intrusion Detection / Intrusion Prevention Systems).

This is useful against data breaches, as the AI is trained to recognize known signatures and generic attack forms.

Malware

Traditional malware solutions attempt to detect malware with signature-based systems, which means a database of known threats is kept by the company and regularly updated as new threats are discovered, and the updates are then deployed to consumers. Cloud technology has helped deploy malware definition updates much faster.

However, traditional malware software struggles with detecting more advanced threats. Deep learning algorithms are exceptionally useful in such scenarios, as they’re able to recognize suspicious activities that may not be defined in a threat signature database.

Hardware Authentication

There’s a lot of evidence that many encryption algorithms are headed towards obsoletion, and so a more secure form of authentication is becoming critical.

Hardware manufacturers like Intel are baking authentication directly into hardware, like the sixth-generation Core vPro processor, which combines hardware-enhanced factors and MFA to make it more difficult for infiltrators to gain access.

Other hardware companies like IBM and AMD are taking different approaches to hardware security. IBM has the IBM Z secure enclaves for their cloud platform, which allows users to run apps in trusted areas of memory that keep code and data secure. IBM is mostly focused on the financial sector for this technology.

AMD uses almost the same approach as IBM by encrypting the main memory space of a virtual machine, and is aiming its line of EPYC chips at the public sector.
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Blockchain Technology

Most have heard of blockchain as being the technology that secures cryptocurrency transactions, but blockchain has far more uses than just keeping your Bitcoins safe. Blockchain technology can actually be utilized in the fight against cyber-attacks.

Here are some of the promising areas of cybersecurity where blockchain technology can be leveraged.

Decentralized Storage Solutions Advantages of Blockchain how Secure Your Data with Blockchain

Centralized storage solutions are a big concern when it comes to data security. Blockchain-based storage offers a viable alternative, such as Sia, FileCoin, and Storj which offer decentralized cloud platforms, and they are gaining popularity.

Users can archive data on the blockchain, and grant access to third-parties, like any other kind of cloud storage platform.

The cryptographic access keys can be revoked at any time, and while hacking blockchain keys is theoretically possible, it’s certainly infinitely more difficult than bruteforcing ordinary passwords.
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IoT Security

IoT devices, like connected printers, scanners, and even smart TVs, have been proven time and time again to be huge network security threats.

Blockchain technology can be used to protect the communication between IoT devices and networks, making the entire system much more secure.