What worries cybersecurity experts the most?

Scams and ransomware remain the biggest concerns.

According to renowned British cybersecurity expert Graham Cluley, while seemingly simple, online fraud is the most alarming threat we face today. He argues that online scams are becoming increasingly sophisticated and causing serious harm to users.

"It's a very basic point, but it cleverly exploits an inherent human weakness. We can easily fix software bugs, but how can we fix the problems in people's minds? That's why we keep making the same mistakes," Cluley shared.

As a familiar face on the popular cybersecurity podcast Smashing Security, Graham Cluley participated in a leading application security event in Oslo, Norway, organized by the Swedish cybersecurity company Promon.

Here, before hundreds of leading cybersecurity experts from around the world, Cluley delivered a clear message: "Every organization's data is 'black gold.' We need to protect it at all costs, with robust security layers and a proactive defensive mindset."

When asked about emerging threats like AI and quantum computing, Cluley stated: "We have every right to be concerned about these technologies, but first and foremost, we must ensure we've done the basics well. Cybersecurity is an ongoing process, and a solid foundation is key to success."

Recent multi-billion dollar fines against tech giants like T-Mobile and Marriott, a multinational hotel conglomerate based in the US, have exposed an alarming truth: even large corporations often underestimate the importance of basic security. Meanwhile, the rise of AI and quantum computing is ushering in a new era of cybercrime, posing a serious threat to global data security.

Meanwhile, Charlie McMurdie, former Director of the UK Police's National Cybercrime Unit and senior cybersecurity advisor at the multinational financial firm PwC, painted a bleak picture of the current state of cybersecurity. She stated: "Ransomware attacks are becoming increasingly sophisticated. Initially, they simply locked systems, but now cybercriminals are going further by stealing and extorting data, even targeting backups."

Despite the industry's relentless efforts to improve cybersecurity, the sad reality is that humans are the weakest link in the system. As McMurdie pointed out: "It's unfortunate to have to admit that sometimes we, the ordinary users, are our own worst enemy, alongside professional cybercrime groups."

By 2025, the damage caused by cybercrime could reach $10.5 trillion.

According to the latest Cybercrime Report from the US Federal Bureau of Investigation (FBI), online fraud has become an epidemic in the digital world. Statistics show that with over 298,000 reported incidents, accounting for 34% of all complaints, this type of crime is rampant and serious.

The attacks on prestigious casinos like MGM and Caesars in Las Vegas last year have sounded the alarm about the serious threat posed by ransomware attacks. It's astonishing to learn that the attackers' infiltration often begins with incredibly simple yet highly effective online scams.

According to a recent report from Microsoft, the company says it handles 600 million cyberattacks every day globally, with ransomware attacks nearly tripling compared to the same period last year.

Cyberattacks are becoming increasingly sophisticated and complex, largely due to cybercriminals exploiting human psychology. The willingness of some companies to pay ransoms to recover data has inadvertently encouraged these criminal groups to operate more aggressively, causing serious consequences for the economy as a whole.

Cybercrime is becoming a "super-profitable" industry. According to forecasts by cybersecurity firm Cybersecurity Ventures, by 2025, global losses from cybercrime could reach $10.5 trillion, exceeding the GDP of many major economies worldwide. The fact that attack tools like ransomware are openly sold on black markets like ordinary goods further exacerbates the situation.

Similar to state-sponsored cyberattacks, which have proliferated in recent years and can inflict significant damage to the national infrastructure and security of targeted countries.

Andrew Whaley, Senior Technical Director at Promon, said: "We are constantly being probed by Russia, North Korea, and China, who are looking to penetrate critical infrastructure in order to inflict real damage through cyberattacks."

New tools for cybercriminals.

AI has long ceased to be a foreign concept and has become a useful tool in many fields, including cybersecurity, but it is still considered an emerging threat that cybercriminals have yet to fully exploit.

Cybersecurity expert Cluley warned: "We are about to see cybercriminals increasingly exploiting artificial intelligence in more sophisticated ways. They have already started doing so and will go even further. This will make the cybersecurity war more intense than ever, like an arms race with no end in sight."

Meanwhile, McMurdie expressed concern about the rapid pace of technological development. She argued that technology, particularly AI, could be exploited to cause serious consequences in a short period of time, before we have a chance to respond.

With the rise of threats from nations, cybersecurity experts are facing an increasingly complex cybersecurity landscape. The advent of AI further exacerbates this situation, as any attacker can easily create sophisticated and unpredictable attacks.

Regarding this issue, Andrew Whaley warned: "With modern AI models, carrying out sophisticated attacks is easier than ever. Complex techniques used for cyberattacks, which previously required high skill levels, can now be fully automated. This means that anyone, even those with little technological knowledge, can become a hacker."

Like AI, quantum computing presents both enormous opportunities and challenges. While promising a technological revolution, quantum computing also poses a serious threat to global cybersecurity. Current encryption systems are at risk of being completely rendered ineffective, creating a massive security vulnerability.

To counter the threat from quantum computing, the cybersecurity community is actively preparing. Several post-quantum security tools are already in place and being used. For example, the National Institute of Standards and Technology (NIST) published its first set of post-quantum encryption standards last August, and countries such as Germany and France have also issued detailed guidelines on the application of post-quantum cryptography.

The race to build quantum security networks is raging between tech giants like Google and advanced nations like Singapore. However, this very technology poses a risk of completely disrupting existing security systems, creating unprecedented challenges for global cybersecurity.

The exact moment when quantum technology becomes powerful enough to break current encryption systems remains unknown. However, when that happens, it may be too late to react, especially if the technology falls into the wrong hands.

Andrew Whaley, senior technical director at Promon, issued a worrying warning: "The first and most obvious sign will be the collapse of cryptocurrency systems like Bitcoin. Once the current security algorithms are broken, the digital currency will lose all its value. At that point, people will be shocked and won't understand what's happening."