Cybercriminals have been particularly helped by the new world that we live in, since 2020's global pandemic. The SolarWinds hack is a great example of this. Brad Smith, Microsoft President, described it as the most sophisticated cyberattack, whose reverberations can be felt throughout 2021.
Hackers, phishers, and scammers have many opportunities with digitization and homeworking. This trend isn't slowing down as we enter 2022. Both individuals and businesses must be aware of these growing threats and how they can be reduced.
Let's take a look at the top trends that will impact our online security in the coming year. These threats can be avoided by taking some simple steps.
Cybersecurity powered with AI
The use of artificial intelligence (AI) in cybercrime detection is very similar to its use in financial fraud detection. AI can identify unusual patterns of behavior and help to combat it. Cybercriminals will be most likely to strike here, since AI is able to identify unusual patterns of behavior in systems that deal with thousands upon thousands of events per second.
AI's predictive abilities are what make them so valuable. As we approach 2022, more companies will be investing in AI. Cybercriminals are also aware of the benefits of AI, and have developed new threats that use machine learning technology to bypass cybersecurity. AI is essential because it is the only way that AI-powered cyberattacks can be stopped.
Ransomware is a growing threat
According to the UK National Cyber Security Centre, ransomware attacks were three times higher in the first quarter of 2021 than they were during 2019. According to PwC research, 61% of respondents expect the ransomware attacks to increase in 2022. This is mainly due to the pandemic as well as the rise in digital and online activity.
Ransomware infects computers using a virus. Ransomware locks files behind unbreakable encryption and threatens to wipe them all if they are not paid. This virus is usually in the form of untraceable cryptocurrency. Software viruses could also make data public and expose the company to huge fines.
Phishing attacks are a common way to spread ransomware. An organization's employees are often tricked into clicking a link or providing details to allow them to download ransomware (sometimes called malware) onto their computers. Recent trends show that ransomware via USB devices is becoming more common for people who have physical access to computers. These attacks on critical infrastructure are growing alarmingly. One attack on a water treatment facility resulted in the alteration of chemical operations that could possibly endanger lives. Ransomware can also be used to attack gas pipelines and hospitals.
This threat can be countered by education, according to research. Employees who are educated about the dangers of this attack will be eight times less likely to become victims.
The Internet of Vulnerable Things
The internet of things (IoT) will be 18 billion connected devices by 2022. Cybercriminals looking for digital security systems will be impacted by this.
Hackers have been identified as a threat since the advent of the Internet of Things. Hackers have been identified using appliances in the home, such as fridges and kettles, to access networks and then to computers and phones that can store valuable data.
In 2022, the IoT will be more advanced and more widely used. Many organizations have been involved in the development of "digital twins", digital simulations that can simulate whole systems and businesses. These models can be linked to operational systems to model what they have gathered. This could give them access to data they don't need and provide access points and information for malicious intent.
In 2022, we will see more attacks against IoT devices. All vulnerable devices are edge computing devices that use data as close as possible to the point of collection and centralized cloud infrastructure. These vulnerabilities can be prevented by education and awareness. Each device that has the ability to connect to or gain access through a network must be thoroughly examined and evaluated for potential vulnerabilities.
Regulators are beginning to catch up with risk
Cybercriminals have been operating for many years, knowing that technology is always changing and it is hard to understand why. Cybercrime is a serious problem that will cost the global economy $6 trillion by 2021. Security Magazine predicts that regulators will step up to tackle the problem in 2022. This could result in increased penalties. Currently, they only cover loss or breach. However, it may also include vulnerability and damage. This could lead to an increase in ransomware attacks and payments laws. Chief Information Security Officers may be subject to increased legal obligations in an effort to lessen the damage caused by data thefts and loss to customers.
This will undoubtedly increase workload for information security professionals within businesses. It will, however, be a positive change in the long-term. It is essential that organizations who wish to access personal data about their customers build customer trust.
Integrated Technology Systems is here to assist you and your IT team navigate the cyber threats of 2022. Call us today to see how we can help you and your staff stay safe.
