Cybersecurity Outlook for 2021

Published in Member Communities on March 03, 2021

By: Jeremy Kauten, CIO and Senior VP of IT, VGM Group, Inc.

In 2021, ransomware damages are expected to be upwards of $20 billion. Previously in 2015,  ransomware was increasing at an alarming rate and was estimated at $325 million. And much of the damage due to cybersecurity breaches have been witnessed by the healthcare industry. Below, I’ve outlined some of the trends to be aware of and advice to help you protect yourself, your customers, and your business.

ransomware damages 2021

Cybercrime and Cryptocurrency

The total cybercrime damages are predicted to exceed $6 trillion annually in 2021. This represents the greatest transfer of wealth in history. Cybercrime will be more profitable than all illegal drugs combined globally.

To move that amount of wealth, many bad actors are now utilizing cryptocurrency. In fact, most cryptocurrency transactions conducted in 2021 will be for criminal activity. Cryptocurrencies like Bitcoin are allowing criminals to transact quickly, bypassing traditional government payment systems.

cybercrime will be more profitable than all illegal drugs combined globally

FireEye Breach


In recent weeks, attacks from foreign governments have exacerbated the cybersecurity threat. Russian agents were able to breach the cyberdefense giant, FireEye. FireEye is typically used by large Fortune 100 firms, as well as government agencies such as the FBI, to protect their data. However, FireEye is also known for having the latest offensive tools used in red team attacks, which are ethical hackers using tools on organizations to identify risks. These tools that contain many vulnerability exploits are now in the hands of the bad guys.

hackers will likely try to gain access to email accounts

What to Watch For

Cyber breaches in 2021 will likely use these two elements of attack:

  1. A component of email used in the attack – Not that the email server itself will be compromised, but hackers will likely try to gain access to email accounts or use a malicious email to get a foothold in the organization.
  2. Remote workers – The pandemic sent workers home with access to the network. This will likely be part of business as usual. Securing devices outside the firewall is different and takes new resources. Hackers are also aware of this and will try to exploit this area.

Playbook: Forecasting 2021This article was originally featured in the VGM Playbook: 2021 Forecasting. To read the complete article, download your copy of the playbook.

From Our Experts

Meet The 2025 O&P Woman of the Year, Fanny Schultea thumbnail Meet The 2025 O&P Woman of the Year, Fanny Schultea OPGA is proud to announce that Fanny Schultea, MS, MSEd, CPO, LP, FAAOP, Executive Director of The Orthotics and Prosthetics Foundation for Education and Research, has been selected as the 2025 O&P Woman of the Year. Setting Up Your HME for Enrollment Success thumbnail Setting Up Your HME for Enrollment Success Unlock enrollment success for your HME business with tips on provider enrollment, CMS compliance, and avoiding pitfalls. Stay prepared and compliant. September Shift: From Busy to Better—Owning the Home in HME thumbnail September Shift: From Busy to Better—Owning the Home in HME Discover how HME providers can shift from busy to better this September. Learn strategies for enhancing patient experiences, improving operational efficiency, and navigating payer complexities. Join us in building lasting customer relationships and fostering community engagement for a successful Q4 and beyond. The Role of DMEPOS in Value-Based Healthcare thumbnail The Role of DMEPOS in Value-Based Healthcare Explore how DMEPOS providers contribute to value-based care by enhancing patient outcomes, reducing costs, and promoting healthcare transformation. VGM Expands Expertise with Industry Consultants thumbnail VGM Expands Expertise with Industry Consultants VGM & Associates is excited to announce the expansion of its VGM Professional Services team with the addition of Steve Baker, Brian Bersano, & Tonya Williams. A Data-Driven Approach to Unlocking Growth in the HME Industry thumbnail A Data-Driven Approach to Unlocking Growth in the HME Industry Discover how to enhance your HME business growth with data-driven strategies with actionable tools and resources. VGM & Associates Launches “IM: Unfiltered” Podcast Series thumbnail VGM & Associates Launches “IM: Unfiltered” Podcast Series VGM & Associates is proud to announce the launch of its new podcast series, IM: Unfiltered, created with members of the VGM community in mind. This dynamic new series delivers candid conversations, expert insights, and timely updates that matter most to home medical equipment (HME) providers. Expanding Your DME Offerings for Breastfeeding Awareness Month thumbnail Expanding Your DME Offerings for Breastfeeding Awareness Month Discover how DME providers can celebrate Breastfeeding Awareness Month in August 2025 by expanding their offerings to include mother/baby products.