Kaspersky predicts that the year 2020 will witness cyber attacks on Investment apps

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Russian Cybersecurity firm Kaspersky has given a 2020 prediction in which it stated that the apps related to investment, banking, financial data processing, and cryptocurrencies will be most vulnerable to cyber-attacks.

“As hacks on financial apps lead the hackers to potential financial gains they are being treated as most vulnerable in the coming year,” Kaspersky noted.

And as mobile-based investment apps are becoming increasingly popular, software applications that lack basic security features such as 2FA or multi-factor authentication are predicted to be increasingly targeted in the New Year 2020.

Kaspersky also estimates that the year 2020 will witness a trend where hackers will sell data related to network access to banks located in African and Asian regions. And the targets will most likely be small financial institutes and those companies which are about to be acquired by large scale enterprises.

Cryptocurrency platforms such as exchanges and e-wallet firms will also become soft targets to sophisticated hackers say the researchers from Kaspersky.

Furthermore, the upcoming year will also see a surge in cyberattacks on healthcare industries as many of the healthcare organizations are not showing any emphasis on protecting medical records, and in securing medical devices.

The Anti-malware solutions provider states that those heading the technology in the corporate world should pay attention to cloud infrastructure and also address growing risks of insiders accessing their networks. Also, telecom companies across the world, which are going for a 5G network transformation at the start of 2020, should start assessing and addressing the risks in advance, before it’s too late.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security