San Jose, CA (PRWEB) December 18, 2013
ThreatMetrix™, the fastest-growing provider of integrated cybercrime solutions, today announces several predictions for the top cybercrime threats businesses and consumers will face in 2014. The biggest threats in 2014 include the risk of cybercriminals compromising the Internet of Things and our nation’s critical infrastructure. In addition, businesses across industries will have to brace for another year of sophisticated cybercrime attacks.
As more of our day-to-day operations and appliances are connected online – including water utilities, power utilities, smart watches and smart home systems – the risk of cybercrime will infiltrate more aspects of our everyday lives than ever before. As a result, not only has cybercrime grown, but the cybersecurity industry as a whole is on the rise, in an effort to stop criminals in their tracks. In the past year, venture capital funding has poured $1.4 billion into 239 cybersecurity deals.
“The Internet of Things is coming on faster than we can cope with – soon enough, we will be living in smart houses and all of our critical infrastructure will be managed online,” said Andreas Baumhof, chief technology officer, ThreatMetrix. “This extensive interconnectivity poses a severe risk for cybercriminals to have a detrimental impact on such critical utilities as our nation’s water supply in 2014 and beyond.”
Cybercrime Predictions for 2014
ThreatMetrix has predicted the top cybercrime trends of 2014, which businesses and consumers must be aware of as they increasingly connect online and via mobile devices.
“Current and emerging cybercrime threats will continue to compromise businesses and consumers on a global level in 2014,” said Baumhof. “To address and prevent these threats, continued innovation in the security market is crucial. Simple anti-virus solutions and addressing fraud and security separately is no longer effective given today’s sophisticated cybercriminals. Rather, businesses must collaborate through a global network for a collective response to cybercrime.”
To address the global concerns of cybercrime, businesses across industries – including financial services, e-commerce, payments, enterprises, social networks and more – must leverage a global data repository such as The ThreatMetrix™ Global Trust Intelligence Network (The Network) to differentiate between authentic and suspicious transactions and online activity. The Network is the most comprehensive global repository of fraud data and protects tens of millions of users every day from cybercrime threats with real-time analytics that evaluate logins, payments, new account registrations and remote access attempts for validity.
By collaborating on a global level through a shared network, businesses can effectively build trust on the Internet by mitigating cybercrime risks posed by such trends as the Internet of Things, critical infrastructure transitioning online, data privacy and more. Given the severity of account takeover, payment fraud, identity spoofing and other threats now and in the years to come, no business can afford to stand alone in the fight against cybercrime.
ThreatMetrix secures Web transactions against account takeover, payment fraud, identity spoofing, malware, and data breaches. The ThreatMetrix Global Trust Intelligence Network, which analyzes 500 million monthly transactions, provides context-based authentication and Web fraud prevention to help companies accelerate revenue, reduce costs and eliminate friction. ThreatMetrix protects more than 1,900 customers and 9,000 websites across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government, and insurance. For more information, visit http://www.threatmetrix.com or call 1-408-200-5755.
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