Report details the top security threats of 2016

In 2016, there will be attacks on cloud technology, payment systems, ransomware, and wearables paired with smartphones and more, according to a new report from Intel Corp.'s cybersecurity threat research division McAfee Labs. McAfee breaks down key security areas to watch this coming year.

Cloud technology has given businesses the chance to cut costs, improve efficiency and make better use of data, but this doesn't mean security is automatically improved. If a security breach occurs, cybercriminals can exploit companies and steal data valuable to competitors or for financial gain. Next year, there will unfortunately likely to be an uptick in cloud service providers becoming targets for such unwanted attention, ZDNet reports.
 
The group writes that it sees little innovation in attack methods associated with debit and credit cards, but that’s quickly changing. Given the increase in payment methods that require usernames and passwords like Venmo, Apple Pay, Google Wallet and others, credentials have become very valuable. The attackers are targeting the consumers directly to steal the credentials because they are both the source of the credentials and the weakest link in the payment process, Silicon Valley Business Journal reports.
 
“We predict that in 2016, payment system cybercriminals will increasingly focus on attacks that lead to the theft and sale of credentials,” Raj Samani, CTO of Europe, the Middle East and Africa at Intel Security, wrote in the report. “We think that they will leverage traditional, time-proven mechanisms including phishing attacks and keystroke loggers, but new methods will emerge, too. We also predict that the number of payment system thefts will continue its relentless growth.”

The market is glutted with so many stolen credentials that the price is down, and as hacking appears to be simple enough when it comes to some companies that teenagers have no problem taking what they will, you can no longer believe your data is ever going to be 100-percent safe, reports ZDNet.
 
According to McAfee, there will be a “robust” dark market for stolen data and credentials next year, with specialized marketplaces developing based on industry and sector — giving trusted Dark Web market users the chance to buy credentials for use in their next campaign.

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