If your business routinely handles your users’ card information, the security of this data can put their money, well-being, and even credit score at stake. Therefore, businesses need to work on the efficiency of their data protection. Rob Ellis, SVP of Strategy at Reciprocity Labs, explores how with the arrival of 5G, this quest for absolute security may feature new challenges.
Cybercriminals are growing ever more sophisticated. In the past few years, cybercrime has evolved to face the new complexity of data protection measures. This should be a daunting thought; offering customer data security is essential in your enterprise’s survival. User privacy isn’t just an ethical matter. There are financial incentives to protecting your users’ or businesses’ data.
Why 5G Has Become Essential
Cybersecurity protection in the 5G era can seem more challenging and complex than the processes organizations used before. However, that is because 5G itself offers greater speed and efficiency, which has become crucial to productivity. As the population grows, networks are at greater risk of saturation and the low speeds it provokes. For corporations relying on employees working from anywhere globally, hospitals requiring real-time access to cloud-stored data, or companies using and offering AI-based services, these slow speeds can be incredibly damaging.
5G comes at the most opportune time, where more people worldwide than ever before must use networks to replace the means of communication and interaction they once had. To make these virtual practices a more comfortable replacement to traditional physical interaction, connectivity systems must be hyper-performant. 5G provides the resources to improve these systems, which offer businesses new opportunities to optimize their efficiency and increase their service offerings. In time, this new technology is set to encourage economic growth and population welfare.
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Cybersecurity Amidst the Pandemic
The global coronavirus outbreak has put internet use at the very center of our lives. The majority of companies have had to implement remote working systems somewhere in their chain of operations. This has opened the floodgates to numerous cyber-attacks, either aimed at destabilizing companies or political systems or stealing the identities of hundreds of thousands of people.
As the world experiences a new incentive to move to cashless economies, users of virtual payment systems must be confident in their data safety. Digital transformation can help offer the public this confidence. If technological advancements are used to incur improvements in cybersecurity systems, businesses may get closer to achieving their full potential. This greater efficiency is a pillar of competitiveness in the new digital age.
What To Expect From 5G Based Technologies
Creating a robust cybersecurityOpens a new window framework is needed to achieve cybercrime resilience. Organizing your security measures using the most efficient technologies is the best approach to not getting targeted. You will need new cybersecurity solutions and IT practices, with scalability potentials, to keep up with the new social needs that have emerged with technological evolution.
5G-based technologies such as artificial intelligence, cloud computing, and the Internet of Things (IoT) can tackle cybercrime more efficiently. 5G also enables Network Virtualization, which allows for the consolidation of hardware and software resources into one network, manageable remotely. Network Virtualization enables companies to make leaner and sharper networks that can be operated from anywhere globally to give users the real-time responses optimal efficiency requires.
High-speed internet also allows for deeper analysis of data. Deep Packet Inspection (DPI), for instance, inspects data in detail, in real-time, from the moment it is accessed by the computer network. DPI is an exciting technology because it could allow companies handling significant amounts of personal data, such as telecom companies, to detect malicious traffic from cybercriminals.
This could save companies millions of dollars every year and protect their users from identity theft. DPI spots over-the-top channel connection attempts before they are granted network access, which prevents cybercriminals from spreading malware.
Learn More: 5G Networks Are Coming, So is a New Set of Security Vulnerabilities
5G-Based Vulnerabilities To Consider
5G technology will open the door to new medical prowesses. However, new vulnerabilitiesOpens a new window can slither through that door, with the potential for greater human consequences. For instance, the 5G Technology could enable doctors to monitor real-time cardiac activity from a cardiac sensor patch placed on a patient’s chest. This patch would replace processes such as electro-cardiograms and other intrusive exams.
However, if this patch were to be hacked, a patient could be at risk of misdiagnosis and the wrong information prescription. For the first time, technological improvements could enable cybercriminals to have a real-time nefarious impact on people’s health. However, with a dynamic approach to cyber-planning and protection, hospitals and other organizations could protect themselves from these new threats.
5G technology’s advantages come with new threats. The increased efficiency of networks under 5G will give rise to new stakes, new malware, and new cybercriminal incentives. Therefore, businesses must relinquish any static approach to cyber-criminal. Their adoption of 5G could lead to optimized operations that could significantly improve many businesses’ profit margins. However, this gain is only possible by investing in new protective solutions and personnel training.Â
Cybercrime Resilience In The Age Of 5G
Cybercrime resilience requires awareness of the methods hackers and other bad actors use to manipulate or trick web users into divulging personal information. Every organization’s employees need to be familiar with the scams they are vulnerable to, such as phishing and email attacks. Social engineering schemes are designed to make you click through a malicious link and eventually input information that can be used against you.
Proactiveness To Win The Fight
Cybercriminals will evolve to make the best use out of new technologies that will soon be widely available. 5G offers greater speed, leading to improved efficiency, which can be used to exploit new business and network user vulnerabilities across all industries. However, companies can be proactive in this fight and invest efforts and capital into creating 5G-based security solutions and processes before cybercriminals obtain comfortable access to 5G.
More than ever before, businesses must get ahead of the new normal to prepare for and adapt to the emerging threats. Companies do not have the luxury of waiting for the widespread use of 5G-based technologies to predict and prevent attacks tailored to their new operational processes.
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