As the year 2022 approaches, businesses should assess their cybersecurity platforms to see if they are staying ahead of the latest trends. Given the recent spate of high-profile cyber-attacks, it’s evident that enterprises worldwide are at risk, and many cybersecurity measures need to be re-evaluated.
Despite the fact that the cybersecurity landscape is continuously changing, it’s difficult to recall a moment when businesses faced a greater variety of risks than they do now. This predicament derives from a variety of factors, including digital innovations that have led to new attack vectors, increasingly ambitious and sophisticated threat actors, shifts in how and where people work, and more interconnected digital networks and systems.
Businesses can understand their risk profiles and what steps they can take to defend themselves only if they are aware of the strategies used by cybercriminals and the attack vectors they use. Company executives, IT professionals, and employees will be in a far better position to address gaps in their digital defenses and limit the damage caused by cyber-attacks if they have access to the up-to-date information on industry trends.
Also Read: Three Cybersecurity Threats IT Leaders should Watch in 2022
Here are a few trends that businesses should look out for in the coming year
Social Engineering Attacks Will Continue To Rise
Despite the growing arsenal of digital tools at their disposal, the primary targets of cybercriminals and other threat actors will continue to be the people who work at the enterprises they wish to infiltrate.
Increased cybersecurity awareness among employees is the only way to combat social engineering attacks. Employees who are aware of the warning signs to look for and how to respond if they suspect a cyber-attack are more likely to avoid breaches and limit the amount of damage caused by attacks. This is especially crucial at a time when, according to IBM’s 2021 “Cost of a Data Breach Report,” the average cost of a data breach has climbed to US$4.24 million and the average time required to control a breach has risen to 287 days — both figures that have risen dramatically in recent years.
Nigel Thorpe, Technical Director at SecureAge Technology says, “Cyber criminals are increasingly looking to infiltrate organizations without being noticed for long periods of time. This way, data can be exfiltrated at a slow and steady pace so as not to attract attention. And with the increase in home or hybrid working, it is information on remote computers that is typically less well protected, which is most at risk.”
“The most popular point of entry for these quiet attacks is through targeted phishing attacks. Cyber criminals are becoming increasingly sophisticated in weaving together pieces of personal information to create apparently legitimate and believable messages that have dangerous attachments or download links.
This just goes to show that all data is sensitive and should be protected all of the time. The traditional way is to try to stop cyber criminals is through multiple layers of defence and access controls. But it’s time to start protecting the data itself – whether at rest, in transit or in use,” he adds.
Also Read: 4 Cybersecurity Fallacies that can Jeopardize Businesses
Device Security Will Become Critical
As the number of connected devices grows, so does the number of attack vectors for cybercriminals to target, an issue that is especially pronounced in the age of remote work.
As remote work becomes increasingly common, device security will become more critical, particularly as employees move from their remote offices to airports, coffee shops, and other public locations. VPNs as well as basic security guidelines for physical devices will be required. It’s critical to keep all IoT devices up to date and avoid overcrowding the remote network with potentially insecure devices. Employees must bear in mind that they are frequently bringing sensitive company data with them everywhere they go, which means they are constantly responsible for keeping that data secure.
Cybersecurity Budgets Will Increase
Companies have strong incentives to prioritize cybersecurity investments as the total number and cost of attacks continue to rise. According to the 2021 ISACA State of Cybersecurity Report, only 37% of cybersecurity experts believe their organizations’ cybersecurity platforms are adequately funded, while 57% believe they are underfunded.
Companies that devote resources to cybersecurity reduce the chances of incurring higher costs in the future, as it is far less expensive to prevent a cyber-attack than it is to contain one.
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