Updated: Sep 29, 2022
Table of Contents
Growing Number of Ransomware Attacks
Phishing Attacks Worldwide
Increased Threats To Supply Chain
8 months have passed of the year 2022 and based on the industry analysis, our cybersecurity experts have come up with a list of what’s trending in the industry. Read this blog to get insights on the cybersecurity trends of 2022.
Each year the playing field becomes different. While in the cybersecurity domain there are new advancements to enhance the security postures, cybercriminals are not far behind. Cyber attacks continue to become more and more sophisticated in nature. The methods to breach security protocols have also become evolved and no organization, big or small is spared.
What is seen in the latest cybersecurity trends, which you will read about in the next sections is that mainly, SMBs or Small and Medium Sized Businesses are becoming targets of data breaches and other cyberattacks. This could be due to two possible reasons. One, SMBs think that cybersecurity is too much of an investment and it is out of their budget to get cybersecurity services. Two, they don’t take the need for cybersecurity seriously and so they only depend on anti-virus software or some IT guy.
Of course, both of these approaches toward cybersecurity are wrong because even small and medium-sized businesses can easily fit cybersecurity services into their budgets. Cybersecurity companies have packages for every size and budget. Based on your type of business and the risk involved, you can also purchase individual services which are again very cost-effective.
If you are a business owner yourself or a decision maker and you are related to point two, we’d say this blog is for you. If you are somebody who doesn’t take cybersecurity that seriously, reconsider. Here are the recent trends in cybersecurity based on the increased cyber threats.
Growing Number of Ransomware Attacks
One of the biggest and most urgent threats to cybersecurity at the moment is ransomware. A malware called ransomware is made to prevent a user or business from accessing files on a computer.
Cyberattackers put businesses in a situation where paying the ransom is the quickest and least expensive way to regain access to their files by encrypting these files and requesting a ransom payment for the decryption key. For added motivation for ransomware victims to pay the ransom, some variants have added extra functionality, like data theft.
Ransomware has increased by almost 13% since last year, according to Verizon, which has been analyzing data security trends since 2008. This increase is greater than that of the previous five years put together, and ransomware was present in nearly 70% of malware breaches last year.
Millions of people continue to fall victim to phishing emails that contain malicious URLs, which remains one of the biggest security threats to the IT industry. These emails include links that, although they appear to be from a legitimate website, are actually fake.
During the COVID-19 pandemic, cybercriminals used phishing techniques to prey on people's fears and trick them into disclosing sensitive information. The elderly were particularly affected by this. Phishing attacks are now more geographically specific and individualized, necessitating the development of more robust cybersecurity awareness programs.
Similar to how marketers target customers, cybercriminals in geo-based phishing create profiles based on the location of potential targets. To trick victims into providing personal information, phishing emails are written in their native tongues and delivered with content based on the victim's geolocation. Businesses all over the world must maintain a constant level of awareness of the threats as cybersecurity trends change.
Learn more: 5 Industries Most At-Risk For Data Breaches
Increased Threats To Supply Chain
Attacks on a company's supply chains are one of the biggest trends affecting cybersecurity in 2022 because they can severely disrupt a company's operations. An organization is the target of a supply chain attack, also referred to as a third-party or value-chain attack, by a reliable third party who has access to its systems and data.
One supply chain attack that made headlines was the 2020 SolarWinds attack. In this instance, malicious code was inserted into the company's software infrastructure by hackers. As a result, more than 18,000 SolarWinds users installed malicious updates, unknowingly disseminating the malware. The American government was one of the thousands of organizations that were impacted.
According to Gartner, by 2025, three times as many organizations as in 2021 will have experienced attacks on their software supply chains. To prioritize digital supply chain risk and put pressure on suppliers to demonstrate security best practices, security and risk management leaders must work together with other departments. Cybercriminals frequently use supply chain attacks because hacked software may give them access to every company using that software.
Every day there’s a new threat for businesses to be aware of and need to take steps to protect their data and remain secure in this new digital age.
In this article, we explored the cybersecurity trends of 2022 and how you can protect your business from cybercrime today.
The top trends in 2022 include ransomware attacks, phishing attacks, and attacks on the supply chain of organizations that affect their operations.
Companies need to take stringent precautions and install cybersecurity systems that can ensure the protection of their organizations.
If you can’t predict the future, how can you prepare for it? The answer is simple: You can’t. Without preparation and a strategy to tackle the future of cyber threats, your business may not have much of a future at all.
Cybersecurity is a top priority for all business owners. With the increase in cyber-attacks, it’s becoming increasingly challenging for businesses to keep their data secure. Cybercrime, especially ransomware, and sophisticated attacks on businesses through exploit kits have made data security a critical challenge. If a business owner doesn't have the right cybersecurity solutions in place, they could easily become a victim of a cyber attack.
To protect your business against cyberattacks, make sure to implement cybersecurity solutions that are in accordance with the latest technologies. Also, don't forget to regularly update your IT security solutions to stay ahead of the curve.
What should be done if we think we are under a cyberattack?
Your company ought to have a procedure in place for handling cyberattacks. If you're unsure, consult your IT provider or a member of your internal IT team. If a cyberattack takes place, doing so could save your company money and its reputation.
What exactly is malware?
A program or file that is specifically harmful to your computer, network, or website is known as malware, also known as malicious software. These cyber-threats infect your system to collect private information, obstruct processes, or monitor your online behavior. Viruses, ransomware, Trojans, spyware, keyloggers, and worms are typical types of malware.
What is the price of cybersecurity?
It's challenging to come up with an exact number. The specific requirements of your organization will determine the best cybersecurity solutions. Once we have identified your unique security needs, we can help create the ideal multilayered solution to safeguard your company. To define a price, we would require to first detect the kind of cybersecurity solutions your business needs.
What kinds of companies are most vulnerable to a cyberattack?
You might believe that larger companies with more endpoints are more susceptible than smaller companies. Or companies with valuable data, like those in the financial services sector or the healthcare sector, would be simple targets. Although they do hold a tonne of data, it's not always the case. Typically, larger companies or those that handle sensitive data have the technology, rules, and procedures to defend themselves against cyberattacks. Small and medium-sized businesses, on the other hand, are prime targets for hackers because they lack specialized IT knowledge, cybersecurity technology, procedures, or education.
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