The cybersecurity battlefield is evolving at lightning speed, with bad actors deploying more sophisticated weapons every day. And for professionals handling sensitive financial information, staying ahead of these threats isn’t just good business—it’s essential for survival.
In this blog post, we’ll explore seven cybersecurity predictions we all need to prepare for—from deepfake phishing to destructive ransomware—plus, tips to help you mitigate any threat likely to come your way.
Table of Contents
- Deepfakes Will Become the Primary Phishing Threat
- Ransomware Will Evolve from Data Encryption to System Destruction
- Remote Work Security Will Become a Top Compliance Priority
- Government Regulations Will Intensify for Financial Data Protection
- Security Vendor Consolidation Will Accelerate
- Third-Party Risk Assessment Will Become Standard Practice
- Security Culture Will Become a Competitive Differentiator
7 Cybersecurity Predictions
1. Deepfakes Will Become the Primary Phishing Threat
More and more cybercriminals are using deepfake technology to carry out phishing attacks. These aren’t your standard phishing emails (though you still need to be prepared to defend against those, too).
Deepfake phishing can convincingly mimic voices and videos, making it difficult to distinguish between real and fake communications. In fact, according to a new report by Onfido, deepfake fraud attempts increased by a whopping 3,000% in 2023.
What You Can Do →
- Implement robust identity verification processes. Always verify requests through live voice or video calls.
- Educate employees about the dangers of phishing attacks, deepfakes, and social engineering tactics, and reinforce the importance of verifying unusual requests.
2. Ransomware Will Evolve from Data Encryption to System Destruction
Ransomware remains a significant threat, with new variants capable of encrypting data and destroying systems and hardware. This evolution demands an enhanced response strategy.
What You Can Do →
- Conduct regular employee training to help your staff recognize phishing attempts, which often lead to ransomware attacks.
- Implement strong password policies, multifactor authentication (MFA), and biometrics to secure access to data.
- Develop a comprehensive backup and recovery strategy to ensure quick restoration of data in case of an attack.
3. Remote Work Security Will Become a Top Compliance Priority
The shift to more remote and hybrid work has been a double-edged sword. While it offers flexibility and operational continuity, it also exposes remote employees (and businesses) to vulnerabilities, particularly due to unsecured home networks and devices.
As businesses continue to adapt to more remote and hybrid teams, ensuring secure systems and compliance with regulations remains imperative.
What You Can Do →
- Partner with a cloud solution provider that offers 24/7 data protection, ensuring that sensitive information is continuously monitored and safeguarded against unauthorized access.
- Equip your staff’s remote devices with updated security software. Ensure all remote devices (laptops, tablets, smartphones) are updated regularly and equipped with the latest antivirus software.
- Use virtual private networks (VPNs) to encrypt data transmitted over the internet. VPNs create a secure tunnel between individual devices and a business’s resources, protecting sensitive information from being intercepted by cybercriminals.
4. Government Regulations Will Intensify
Any business handling sensitive financial and personal client data must comply with stringent government regulations. And as technology advances, and cybercriminals advance with it, regulatory bodies will continue to update and expand their requirements, too.
What You Can Do →
- Stay informed about changes in regulations and ensure compliance with frameworks such as the IRS Security Six and the FTC Safeguards Rule, among others.
- Ensure that you have a Written Information Security Plan (WISP) that aligns with regulatory requirements.
- Conduct regular compliance audits of your security policies and procedures to help identify areas where compliance may be lacking.
- Partner with a security provider who can help you create a WISP, identify security gaps, adapt to regulatory changes, and streamline and manage compliance on your behalf.
Free Download → WISP Template for Accounting Firms
5. Security Vendor Consolidation Will Accelerate
Gartner predicts that by 2025, 80% of enterprises will adopt a strategy to unify web, cloud services, and private application access from a single vendor’s SSE (security service edge) platform. This approach can enhance security efficiencies, reduce complexities, and lower costs.
What You Can Do →
- Evaluate potential security partners that offer comprehensive security services, including a managed cloud and a full slate of security offerings.
- Conduct a comprehensive audit of existing security tools and processes to identify redundancies and gaps.
- Develop a phased implementation plan that minimizes disruption.
6. Third-Party Risk Assessment Will Become Standard Practice
Third-party vendors can pose significant security risks.
Once again, Gartner predicts that, by 2025, 60% of organizations will use cybersecurity risk as a primary determinant in conducting third-party transactions and business engagements. Are you considering how secure the companies you do business with are? After all, you’re only as safe as your riskiest vendor.
What You Can Do →
- Conduct thorough due diligence and ongoing monitoring to assess the cybersecurity practices, compliance, and risk management of third-party vendors.
- Implement strong, contractual safeguards and technical controls with contracts that include data protection requirements.
- Involve third-party vendors in your incident response planning, establish protocols for identifying anomalies, and consider using managed security service providers for enhanced protection.
7. Security Culture Will Become a Competitive Differentiator
Creating a healthy security culture will become even more critical. Regular education, training, and updates on the latest cybersecurity threats will empower employees to act as your first line of defense.
A strong security culture promotes awareness and accountability, which is key to helping employees identify and mitigate risks before they escalate into major incidents.
What You Can Do →
- Invest in continuous security awareness training programs that include simulations of phishing and social engineering attacks.
- Encourage open communication about potential security threats and foster an environment where employees feel comfortable reporting suspicious activities.
Prepare to Up Your Cybersecurity Game
As with most years, 2025 will bring both challenges and opportunities. No one can offer a cybersecurity prediction with 100% accuracy—but we can do our best to prepare for the threats today. And by understanding what’s next on the horizon, you’ll be a lot more knowledgeable and ready to face anything.
Learn where your business may be vulnerable. Schedule a risk assessment today.
