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2016 experienced notable hacks and discoveries. Here’s a recap:

 

1. IoT makes personal data vulnerable

The power and vulnerability of Internet of Things was demonstrated in September, thanks to the botnet Mirai. This type of malware can take over and transform IoTs into fellow botnets that can then be controlled to disrupt and stop servers.

Any type of IoT device has the potential of being possessed by a hacker. Cars, toys, fitness devices, and the list goes on. In October, researchers found that the botnet Mirai can hack and control 80 different models of Sony cameras.

By 2020, every person is estimated to have an average of 5.1 connected IoT devices, and the market is projected to reach $29 billion. In spite of this growth, the vulnerabilities remain.

2. Hospitals are the #1 targets:

In 2015 and 2016, 91% of healthcare organizations reported at least one data breach.

In 2016, cyber criminals used ransomware on hospitals across the U.S. knowing many hospitals have out-of-date cyber security procedures while possessing critical date. In February, the Hollywood Presbyterian Medial Center paid a $17,000 ransom in bitcoin to cyber criminals because they needed immediate access to their computer server and data.

In June alone, hackers exposed more than 11 million healthcare records.

3. Consumers Want Biometrics

Due to the increasing cyber security attacks on banks and the financial services industry, American consumers have voiced their need for higher security standards, and biometrics is a favored option.

According to a 2016 survey conducted by Consumer Technology Association, 90% of respondents are familiar with biometrics, 43% said they have used biometrics in the past and 62% said they were comfortable with it.

If interested in learning more about using biometrics as security in the financial services industry, visit Gardevant and read its blog to stay up to date on the latest news.

2017 is right around the corner with different types of hacks and cyber threats, so be prepared. If you want to protect yourself from a security breach, visit our website for the latest cyber security solutions that protect your mobile data and financial information.

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