2020 will forever be known as the Year of COVID. The way we live, work, play and shop all radically changed to mitigate COVID risks. Stay-at-home orders pushed record numbers of shoppers online. This further accelerated the trend towards shopping on mobile devices — primarily iOS and Android flavors. Work-from-home mandates resulted in massive spikes in demand for remote work functionalities and apps. What we did online, too, changed dramatically; we began playing more video games, consuming more movies and television programs, and spending more time on social networks. Consumption of online education and games soared. Food delivery, like DoorDash, GrubHub and UberEats, went from niche to mainstay. We stopped booking on travel sites, stayed out of planes, and instead rented cars and cozied up in our local AirBnBs for quick, close-by staycays. App stores and web apps occupied an even bigger part of our tech lives as they continued to gain ground on platform-centric desktop apps. And, for app security, 2020 caused considerable chaos and a rise in demand for more modern approaches.
Cybercriminals followed all these trends closely and responded with an increased volume of attacks to capitalize on the opportunity and capture sensitive data and compromise data security. This put additional pressure on app developers to improve web application security without compromising user experience. The cybercriminals also swam upstream to execute more credential stuffing attacks against financial services firms – stealing thousands or tens of thousands of dollars per breached account. The SEC suggested that member banks and brokers undertake additional monitoring and behavioral detection approaches in addition to Completely Automated Public Turing test to tell Computers and Humans Apart (“CAPTCHA”) and multi-factor authentication. We are all hopeful that 2021 will be less disruptive for application security. We polled our team and our customers on trends they (Read more...)
*** This is a Security Bloggers Network syndicated blog from PerimeterX Blog authored by PerimeterX Blog. Read the original post at: https://www.perimeterx.com/resources/blog/2020/five-application-security-predictions-for-2021/