The US Treasury Department has sanctioned a Chinese cybersecurity company, Sichuan Silence Information Technology, and one of its researchers, Guan Tianfeng, for a 2020 cyberattack that targeted 81,000 firewalls worldwide, including 23,000 in the US. The malware was designed to steal data and deploy ransomware, potentially causing serious injury or loss of human life. The sanctions block any assets of Sichuan Silence and Guan in the US and ban US banks and companies from doing business with them.
Forecast for 6 months: In the next 6 months, we can expect increased scrutiny of Chinese cybersecurity companies and a potential rise in cyberattacks targeting critical infrastructure companies in the US. The US government may also impose stricter regulations on companies that do business with Chinese entities.
Forecast for 1 year: In the next year, we can expect a significant increase in cyberattacks targeting critical infrastructure companies globally, as well as a rise in sanctions against Chinese cybersecurity companies. The US government may also invest in developing its own cybersecurity capabilities to counter the threat.
Forecast for 5 years: In the next 5 years, we can expect a shift in the global cybersecurity landscape, with a greater emphasis on collaboration between governments and private companies to counter the threat of cyberattacks. The US government may also establish a new agency or department dedicated to cybersecurity, and Chinese cybersecurity companies may be forced to adapt to new regulations and standards.
Forecast for 10 years: In the next 10 years, we can expect a significant reduction in the threat of cyberattacks targeting critical infrastructure companies, as well as a rise in the use of artificial intelligence and machine learning to detect and prevent cyber threats. The US government may also establish a new international framework for cybersecurity cooperation, and Chinese cybersecurity companies may be forced to adopt Western standards and best practices.
