Top 5 Cybersecurity Trends to Look Out For in 2022

In the pandemic-hit 2020 and 2021, the importance of cybersecurity grew by leaps and bounds. With 2022 just around the corner, the cybersecurity landscape is expected to change at a faster rate like never before. While the world continues to adapt to the ‘new digital normal’, hackers and attackers are relentlessly contriving to outpace cybersecurity technologies and make a dent in this digital economy. On the global level cyberattacks are the fastest growing crime and predicted to cost the world $10.5 trillion annually by 2025 (Cybersecurity Ventures). Apart from financial losses, cybercrimes are also rising to damage the reputation of businesses. As governments and businesses work towards elevating their cybersecurity posture coupled with increasingly stringent data regulations, it is imperative to know the key predictions and trends that will help organisations to ramp up their cybersecurity in 2022: Remote Work Risks As per the 2020 Ponemon Institute report, 71% of the surveyed organizations are concerned about data breaches due to remote workers’ physical security practices. In this new remote-working landscape created by the COVID-19 pandemic, employees may unknowingly put your company’s data at risk. Working from Home or WFH can potentially lead to data breaches, identity fraud, data theft and even critical infrastructure damages if proper security controls are not in place or employees do not follow proper cyber hygiene. In fact, the average cost was $ 1.07 million higher in breaches where remote work was a factor in causing the breach, compared to those where remote work was not a factor (Cost of a Data Breach Report 2021, IBM). Tips to mitigate the risks: -Establish a Cybersecurity Policy -Separate Work and Personal Devices -Set up Multi-factor Authentication (MFA) -Use Virtual Private Networks (VPN) -Backup Important Data -Conduct Cybersecurity Awareness Training -Keep System Software Up-To-Date -Deploy Adequate Email Security Practices Ransomware Attacks to Remain a Primary Concern Ransomware attacks have evolved from disorganised attacks to highly sophisticated and planned operations. It has become a multimillion-dollar extortion business. Ransomware attacks grew 1,070% year-over-year, according to a recent FortiGuard Labs Global Threat Landscape report. According to cybersecurity experts, the ransomware landscape will become more modular and uniform, and it will spike Ransomware-as-a-Service (RaaS) business. The Ransomware-as-a-Service (RaaS) is a subscription-based business model, that enables malicious attackers to use already-developed ransomware tools to execute ransomware attacks. Researchers at Group-IB found that almost two-thirds of ransomware attacks analysed in 2020 came from hackers operating on a RaaS model. Tips to mitigate the risks: -Maintain backups securely -Develop incident response plans and policies -Invest in Intrusion Detection System (IDS) -Build Email & Endpoint protections -Keep software patched and updated A

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