The last two years have changed the way we use technology forever, and those changes have had a profound impact on the cybersecurity landscape. The challenges of recent times will not be the same as the ones we face in the future.
Let’s take a look at the cybersecurity trends and events for 2022 so your business is prepared for the future.
Ransomware attacks will increase
2021 saw a diverse range of industries being impacted by ransomware attacks around the globe, including healthcare entities, tech companies, manufacturers, and financial institutions. From the Colonial Pipeline and JBS beef plants, the rate of ransomware attacks occurred regularly with maximum intent on damaging target organisations. As the use of cryptocurrency expands, making it more difficult to trace ransom payments, ransomware attacks will continue to increase, with shipping and transportation industries predicted to be the main targets of malicious actors.
However, 2022 will also see governments around the world begin to cooperate more to find, extradite, and prosecute ransomware groups. The Australian government has launched the Ransomware Action Plan to disrupt and prosecute cybercriminals, protecting businesses and infrastructure nationally.
Zero Trust journey continues
‘Trust but verify’ was the traditional cybersecurity stance, but since this trust has been repeatedly abused by malicious actors or through internal carelessness, a new principle has emerged: ‘never trust, always verify’.
The zero trust strategy for cybersecurity will continue to become the standard for organisations. Zero trust is based on the position that a user who has not had their identity authenticated and been granted explicit system admission is denied access. After initially being authenticated, a user must give further authentication, such as a fingerprint or voice recognition. Zero trust safeguards also block users from accessing any applications or services they have no permission for. This prevents cybercriminals from laterally attacking if they do manage to get into the business network.
Zero trust requires a huge mindset shift. Instead of assuming the best of people, zero trust universally assumes no one can be trusted, and requires legitimate users to repeatedly validate their identity.
In 2022, more organisations will look to proactively prevent security incidents rather than relying on detecting or reacting to threats. The hybrid workplace is predicted to become the norm for many Australian businesses as almost 75% of employees have indicated they would prefer a mix of remote and face-to-face working . Zero trust cybersecurity strategies offer companies a way to ensure secure access to business resources for employees working remotely.
Cloud security challenges
Adoption of cloud-based services increased exponentially over recent years, as businesses were forced to try and continue operating during government restrictions and lockdowns. Using the cloud can help organisations reduce costs and meet the needs of business operations in these uncertain times, but it also introduces new security risks and threats. Experts warn cyber-attacks on cloud infrastructure will increase in 2022.
Cloud computing is often considered more secure than traditional IT infrastructure because it is remotely located and shielded from physical threats like fire or natural disasters. While this provides an extra layer of protection to the data stored in the cloud, it also means that the data stored in the cloud remains vulnerable to cyber-attacks on the network itself, whether via malware or through vulnerabilities in applications used to access the cloud.
As with any other type of infrastructure, a company should ensure that its cloud services are properly secured and protected against attacks. The adoption of consolidated security platforms will be important, taking a multi-layered approach that protects all attack surfaces, including networks, cloud, endpoints, mobile devices, etc. The consolidated security architecture shares prevention technologies, management services, and threat intelligence. Artificial intelligence and machine learning are predicted to play an important role in cloud automation cybersecurity, enhancing protection with real-time data analysis and threat detection.
Cybersecruity insurance will grow significantly in 2022. The never-ending rise in breaches and ransomware occurrences simply dictates the industry needs to ensure businesses and government agencies are able to recover from them.
The total cost of cybercrime is rising rapidly, with an expected cost globally of $6 billion and the information security industry is predicted to cost 170.4 billion dollars in 2022 to meet increasing cyber threats.
Cybersecurity insurance protects businesses against thefts or losses due to hacking or malware attacks, as well as acts that cause physical damage like fire, storm etc.
It can also cover recovery costs such as financial loss of business interruption, supporting data restoration, etc. Some organisations may need specialised coverage for their specific industry for compliance regulations, while others might want protection against extortion schemes. Insurance companies have expectations of businesses to demonstrate a minimum standard of cybersecurity, with baselines such as the ASD Essential Eight or NIST Cybersecurity Framework used to qualify companies for cyber insurance policies.
Be prepared for the cybersecurity landscape in 2022
As organisations move forward into 2022, it is vital to be prepared for new and emerging cybersecurity threats. The rise of cyber-attacks around the globe has become the greatest challenge for organisations to meet.
Ensure your business is prepared for anything in 2022 by partnering with the cybersecurity experts at RODIN, who offer a range of services and solutions to meet your cybersecurity needs. Start protecting your organisation today.