5G, Metaverse could be playground for cyber attacks: Palo Alto Networks – Business Today
Cyber attacks are on a constant rise. The year 2022 was no different. Enterprises across industries and regions witnessed increased incidences of cyber-attacks. Cybercriminals used ransomware to target critical infrastructures and found new ways to exploit the cryptocurrency boom, hybrid working, and, more recently, unsecured APIs. Over 6.7 Lakh cybersecurity incidents were reported in India in the first six months of 2022, as per CERT-IN. With an increasing number of organisations falling prey to cyber-attacks, the global cybersecurity leader Palo Alto Networks has highlighted key insights that organisations in India should be mindful of.
With the rollout of 5G services in India, the country is expected to reach 88 million subscribers by 2025, as per GSMA. But while everyone is talking about delivering higher data speeds, latency improvements, and the overall functional redesign of mobile networks, the cloud will expose the 5G core to cloud security vulnerabilities. With a limited number of Indian organisations equipped with a plan for securing their 5G/4G environment, CISOs will need to be wary of large-scale attacks originating from any source, including the operator’s network.
With an estimated $54 billion spent on virtual goods every year, the metaverse could open up a new playground for cybercriminals. The immersive nature of the Metaverse will unlock new opportunities for businesses and consumers alike, allowing buyers and sellers to connect in a new way. Companies, and cyber attackers, in tandem, will take advantage of mixed reality experiences to diversify their offerings and cater to the needs of consumers in the Metaverse.
Reimagining cybersecurity approach
Sean Duca, Vice President and Regional Chief Security Officer, Asia Pacific and Japan, Palo Alto Networks, said: “The fluidity of today’s cyberattacks will require business leaders to reimagine their cybersecurity approach constantly. Leaders must consider innovative solutions, technologies, and approaches that outperform traditional mechanisms. Organisations have much to consider in 2023, but remaining vigilant and aware will empower them to defend against the evolving threats.”
From prevention-first Al to adopting Zero Trust strategy and architecture will be imperative to adopt the broadest and deepest cyber expertise and threat intelligence into the defences to stay ahead of the curve. But, more importantly, organisations must build resiliency to respond and recover.
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