Cybersecurity has been a priority for companies of all sizes for years. What’s changed in recent times is the understanding that companies have as to how essential these measures truly are, and how devastating an attack can be.
If we consider the major cybersecurity blunders of 2021, it’s easy to identify some key trends companies have to prepare for in 2022 and beyond. It’s important for a company to take the time to create a comprehensive cyber security strategy to protect its assets, and have a strong outline of how to combat these attacks head-on.
Top Predictions for Cybersecurity for 2022
1. Security at the Edge Will Become More Central
Internet of Things (IoT) devices become more and more common in offices and even homes. While such technologies can yield many benefits, it’s also necessary to understand that they also impose new risks that companies need to account for in their cybersecurity strategies
2. Increase of Nation-State Attacks
The cyber attacker is changing. No longer are these threats only coming from individuals looking for either notoriety or financial gain. Nation-state attacks are also increasing since such activities can result in geopolitical gains for a nation.
3. Continued Rise in Ransomware
In 2021, there were $102.3 million monthly ransomware transactions, clearly showcasing that this particular tactic’s prevalence is on the rise. Hackers essentially hold a company’s assets hostage with the threat of public release unless the company pays a ransom
4. Increase in Privacy Laws and Regulation
As privacy laws are changing, companies need to focus efforts on ensuring their data is accessed only by the right individuals, and in a controlled manner, to avoid potential breaches and law violations.
5. Application Security Will Become More of a Focus
A SALT Security report estimated that while API traffic increased 141%, malicious traffic grew 348% in 2021, which means hackers are now finding ways to access company API more than ever.
6. A shift to Altruism
In 2022, the understanding that companies do not operate in isolation will be more reflected in their cybersecurity efforts. Because many operations are intertwined with different partners and companies, cybersecurity measures will be more designed to protect the entire ecosystem, not just one asset.
7. Increase in Supply Chain Attacks
The EU Cybersecurity Agency reported that supply-chain attacks have increased 4 times in 2021, with a majority of actors deploying malicious code to gain access to company data.
8. Insider Threats Will Create New Challenges
Employee turnover, using third parties apps that have not been fully vetted, and a lack of overview led to a growing threat of insider attacks unless companies can manage sensitive data.
What Can You Do to Prepare for Cyberattacks in 2022?
1. Train Your Employees to Fight Phishing
Employee training should be a top priority for companies looking to enhance their cybersecurity efforts. An untrained employee is the most common and easiest point of entry an outsider has to company data.
2. Enhance Endpoint Security
As employees continue to work remotely or in a hybrid capacity, companies should create an inventory of necessary devices, strengthen their endpoint security and monitor them for any suspicious activity when connected to the network.
3. Apply Security Patches Quickly
If a vulnerability is identified, applying a patch must always be a priority. Such vulnerabilities can be easily leveraged by hackers to gain quick access to company data.
4. Have a Backup Strategy in Place
Backups ensure a company’s operation can continue even in the event of a cyberattack, such as ransomware that locks in company assets. With a backup, companies can access those assets without paying the ransom.
5. Implement MFA
Multi-factor authentication provides a more secure way for employees and company actors to access data, while simultaneously making it more difficult for outside parties to get it.
6. Develop a Business Continuity Plan
Though cybersecurity strategies are designed to prevent such a scenario, no plan is 100% foolproof. Companies must also create a continuity plan that sets up the exact steps to take in case of a breach so that they can continue their operations, even if only to a certain degree.