More attacks on cloud, IoT devices likely in 2017: Symantec

Higher instances of attacks on cloud and Internet-connected devices are likely in the coming year as cybercriminals evolve their approach towards accessing enterprise and consumer data, security software maker Symantec today said.
"Given the significant shift towards cloud-based storage and services, the cloud is becoming a very lucrative target for attacks. The cloud is not protected by firewalls or more traditional security measures, so there will be a shift in where enterprises need to defend their data," Symantec Director Solutions Product Management APJ Tarun Kaura said.
He added that attacks on cloud could result in multi- million dollar damages and loss of critical data.

"Given the consistently changing security landscape, it's important to take a moment and determine where the security industry needs to focus their attention as we move into the next year," Kaura said unveiling Symantec's security predictions for 2017.
Highlighting the proliferation of devices connected to the
cloud and Internet, he said the shift toward "modern workplace" where businesses allow employees to introduce new technologies like wearables and virtual reality will continue.

"Enterprises will need to shift their focus from safeguarding end-point devices toward protecting users and information across all applications and services. They will have to look beyond computers and mobile devices for vulnerabilities," he said.

Kaura added that nearly everything in an enterprise is now
connected to the internet and will need to be protected.
Another security challenge that may gain traction is 'fileless malware'.
Fileless infections are those written directly onto a computer's RAM without using files of any kind. These are difficult to detect and often elude intrusion prevention and antivirus programs.
"This type of attack increased throughout 2016 and will continue to gain prominence in 2017, most likely through PowerShell attacks," he said.
Kaura also highlighted the issue of rogue nation states financing themselves by stealing money.
"There is a dangerous possibility that rogue nation states could align with organised crime for their personal gain, such as what we saw in the SWIFT attacks. This could result in down time for countries' political, military or financial systems," he said.

In February this year, a group of cybercriminals stole USD 81 million from the Bangladesh central bank. The attack triggered an alert by payments network SWIFT after it was found the attackers had used malware to cover up evidence of fraudulent transfers.
In October, the Indian banking sector saw the biggest-ever security breach with 32 lakh debit cards of various public and private sector banks being feared to have been 'compromised' by cyber malware attack in some ATM systems.