Did you know that the average cost of data breaches for a small business is between $36,000 and $50,000 per breach, according to Security Magazine? About 50% of small companies go out of business within six months of a data breach.
Regarding cybercrime, hacking and data breaches are among the most common types of crimes, with 2.5 million daily attacks.
In the cyber world of 2022, what will be happening online? First, keep up with what's happening in cybersecurity news; it moves at breakneck speed.
Here is where you can get your daily dose of cybersecurity news for 2022. Keep reading to learn more.
Top Cybersecurity Threats of 2022
To avoid a cyberattack, you need to be proactive to safeguard yourself and your company from becoming victims of cybercrime. Understand the top 5 cybersecurity threats of 2022:
These attacks aim to trick users into clicking on malicious links embedded in emails, messaging apps, or websites on the internet. This allows the attackers to steal login credentials or other private information.
Ransomware is a type of malware that's constantly evolving and is tailored to encrypt files on a machine, rendering any data, files, and the systems that depend on them inaccessible.
Malware is a malicious software type specifically designed to infect computers and compromise the data stored on those computers. The following are all tools that cybercriminals use in ransomware incidents:
- Computer viruses
- Software worms
- Trojan horses
- Adware software
- Spyware software, amongst others
Even though ransomware attacks are not a new type of threat, they have become noticeably more expensive in recent years. For example, between 2018 and 2020, the approximate ransom fee increased from $5,000 to $200,000. In addition, attacks by ransomware also cost businesses money in the form of lost revenue, while hackers withhold system access in exchange for payment.
Social Engineering or Human Error Engineering
Social engineering by exploiting human error is still one of the most dangerous hacking techniques cybercriminals use. This is because it depends on human error instead of technical glitches. This increases the danger of these attacks because it is much easier to fool a human than to infiltrate a security system.
Inadequate Data Management
Data management entails more than simply keeping your storage and company systems in order. To put things into perspective, consumer data doubles every four years. However, more than half of that new data is never touched! This is called dark data.
Surplus data creates confusion, leaving data vulnerable to cyber-attacks. Breaches caused by data handling errors can be just as costly as more sophisticated cybersecurity attacks.
Denial of Service (DoS) Attack
When authorized customers cannot access information systems, devices, or other networking devices due to the actions of malicious cyber threats, this is referred to as a denial-of-service (DoS) attack.
- Email accounts
- Web pages
- Online accounts (e.g., banking)
- Many other services that rely on the impacted computer or network may be affected
A denial-of-service situation is created by swamping the aimed host with traffic on the network until the target cannot respond or crashes, denying legitimate users access. DoS attacks can cost a company both time and money because their services and facilities are unavailable.
Top Cybersecurity Trends of 2022
All entities are losing billions of dollars due to security flaws. Furthermore, as companies have shifted to remote work, they have become more vulnerable to hacker attacks. If you are one of them, keep a close eye on the following emerging cybersecurity trends.
Governments Will Be Forced to Take a More Active Role
The very fact that cyber security knows no borders means that world leaders will be forced into levels of collaboration never heard of before. Practices required to combat the global scourge will need to be developed and implemented.
Companies in business with governments will feel more and more pressure to resolve the supply chain weaknesses.
In 2022 governments will continue to be more aggressive in developing, updating, and enforcing privacy and cybersecurity rules, which will result in more lawsuits against companies that do not maintain and implement suitable vulnerability and patch management practices.
The Talent Pool Will Not Get Any Fuller
Already under-resourced security teams will be under more pressure than ever. The exponential ransomware and social engineering rate certainly won't help the situation. A recent Forrester study has shown that 51% of cybersecurity professionals experienced elevated stress or burnout in 2021. Unfortunately, 2022 will not likely offer any easing of this severe problem.
Ransomware Will Reach Pandemic Levels
In 2021 more than 1100 schools in the USA were hit with ransomware. 2021 was the year ransomware became a household topic. Families were talking of it over the dinner table. It was the year social engineering went from a subject best left to security professionals to parents looking at their children's online behaviors and school teachers taking time to discuss the subject n the classroom.
Social Engineering Is Here to Stay
Phishing in all its flavors will not disappear; it is here to stay. Since email remains one of the least secure communication mechanisms, and the most used, cyber nasties are unlikely to let it go. Moreover, elevated techniques in terms of personalization will make combatting the scourge more challenging than ever.
Threat Intelligence Will be More Easily Available
Today, digital technologies are at the core of nearly every industry. Increased connectivity and automation have transformed the world, but they have also given risk through cyberattacks.
Data that lets you prevent or mitigate attacks is threat intelligence. Threat intelligence, which is based on data, provides context such as:
- Who is trying to attack you
- What are their incentive and abilities
- What factors of compromise in your frameworks to look for to help you make informed security decisions.
In days gone by, this was seen as a highly specialized technical skill; not so today. New software and products have emerged to provide more actionable services like vulnerability management, cyber risk data protection, and threat hunting.
Top Cybersecurity Tips for 2022
Get back to basics. 2022 has already shown the value of keeping basic foundations in place.
Passwords are a collection of strings entered by users at application account authentication prompts. Although passwords are still one of the most secure authentication methods available today, they are vulnerable to various security threats when misused.
The year 2022 will see the introduction of various new approaches to passwords, which serve as the first line of defense. In addition, there will be a shifting trend toward passwordless management.
Two or Multi-factor Authentication
Multi-factor authentication, also known as 2-factor authentication, is an electronic method of authentication in which a user is given internet access or access to an application only after satisfactorily giving two or more pieces of proof to an authentication mechanism.
2-factor authentication will become the norm. Putting the second stage of access in place, which confirms something you know or something you know, will narrow down access.
Backups and Data Storage
Backup storage allows you to manage, retrieve, and restore backed-up data for any person, application, device, or computing device.
Solid, tested backups got a few companies out of a jam in 2021. More and more, it will be shown that 3-2-1 and an air-gapped copy of data will save businesses. The concept of an air-gapped backup, one that's disconnected, except when running the backup or restore, will also be critically important.
Keep on Patching
The rate of change in the threat landscape has forced software vendors to release patches and fixes faster than ever before. As a result, 2022 will show the importance of patching.
2021 statistics have shown that the vast majority of cyber events were human error related.
The Top Cybersecurity Myths of 2022
Experience has shown that cyber security readiness is only effective when approaches do not place too much emphasis on the fear factor. So, to shift toward more practical skills, let's debunk some of the most common cyber security myths.
It's Not Only Technical
It is true that cyber defense is technical and times downright confounding. But IT alone does not manage cybersecurity anymore! Everyone from E and C levels management, Finance and Admin, HR, Sales and Marketing, and Engineering has a role to play.
It's Too Expensive
It needn't be. The trick will be finding fit-for-purpose countermeasures aligned to the company's risk appetite.
Only Big Companies and Corporations Are Targets
True hackers will spend more time trying to get into large corporate. This doesn't detract from the fact data in small businesses is valuable too. In fact, 2022 will show how cyber nasties will begin to use data stolen from smaller businesses will be used to build social profiles.
It's Too Complicated
This is not the case, cybersecurity is not complicated at all. You don't 'set up' cybersecurity once the job's done. It is an ongoing commitment of resources and time.
March Into the Future of Cybersecurity News!
2022 is here already, and experts are debating the future of the economy, health, and technology. In terms of technology, cybersecurity receives far less attention.
Our online world is changing with each passing second. The intensity and complexity of cybercrime are also increasing. Fortunately, we are kept abreast of cybersecurity news in reaction to the threats posed by cybercriminals.
Are you looking for a cybersecurity business solution? Then, why not contact us? We will give you the answers you need right now!