Did you know worldwide cyber-security spending will be close to $133.7 billion by 2022? This prediction by Gartner Inc. is a response to growing cyber-attacks that are motivating businesses to invest more on cyber-security. But there is also a positive side to the increase in the frequency of cyber-attacks. The more sophisticated and deadly the attacks become, the greater the need for hiring cyber-security professionals. With the availability of online cyber-security courses, making the profession more attractive for people who want to establish a cyber-security career.
Whether you are an individual looking for a cyber-security job or a business wanting to upgrade its security system, it’s important to keep a check on the latest security threats.
In 2021, the cyber-security landscape saw an increase in threats. Cybercriminals took full advantage of the new work from home culture to cripple security systems. In 2022, you can expect similar and more dangerous attacks that will keep businesses and cyber-security professionals on their toes.
Infosec4TC has outlined their key predictions about how cyber-security threats will change in 2022? But before we talk about these attacks, let’s look at a few statistics:
- Large enterprises spend $1 million or more on cyber-security every year.
- 68% of business leaders believe cyber-security risks are on the rise.
- On average, hackers attack every 39 seconds.
6 Cyber-Security Threats to Watch Out for in 2022
The Cyber-Security War Will Be on The Rise
There has been a rise in the cyber cold war among different nations and it will continue to increase in 2022. State hackers are operating on behalf of world powers, causing political havoc for rival countries and governments. Also, there is a chance of terrorist groups taking advantage of improved operational infrastructure to deploy sophisticated attacks.
Remote Work Attacks – A New Challenge for Businesses
Firewalls, employee awareness and stringent policies can cater for common cyber-security threats. But when employees work remotely, using cyber-security measures become difficult. Cyber-security threats associated with remote work include unsafe networks, personal devices and human error. To deal with these attacks, businesses need to incorporate security measures, like VPN’s, anti-phishing tools, anti-virus solutions and constant employee training through the use of top cyber security courses.
Supply Chain Vulnerabilities Will Grow
In the past, cyber-attacks only attacked the targeted organization. Now, attackers have gone above and beyond this, targeting partners, providers, customers and others in the supply chain. With the increase in supply chain attacks, the government will devise regulations to protect vulnerable networks. In 2022, you can expect the government and private sector to join hands to combat cybercriminals.
Double Extortion Ransomware Attacks
You might think ransomware attacks are an old story but what we will share next will come as a surprise. The double extortion ransomware attack, also known as pay-now or get breached attack, includes threat actors who steal data from firms and encrypt their files. So, attackers demand a ransom to decrypt the data and threaten to leak information if an additional amount is not paid.
New Ways To Hide Logic Bombs
In 2022, attackers will use new techniques to implement logic bombs and even dare firms they’ll delete the files if their demands are not met. During the attack, hackers will delete all files on a certain date and at a specific time unless their demand is not met.
Hackers Will Use Deep Fake Technology
Cybercriminals will use tools to create fake video and audio files to steal money, manipulate stock prices and alter people’s opinions on social media. To exemplify this point, let’s take an example of an attack that took place in 2020. In the attack, hackers used technology to duplicate the voice of a Hong Kong bank director to transfer $35 million into their account.
In addition to the above attacks, cloud vulnerabilities, IoT vulnerabilities and credential stuffing will rise.
How to Prepare Your Firm to Deal With These Attacks?
Now you have got a fair idea of different types of cyber-attacks that might change the security landscape in 2022, equip your business with preventive measures to deal with these attacks. One such measure is to provide cyber-security training to employees and hire cyber-security professionals. Infosec4TC helps businesses and cyber-security professionals through our cyber security courses, likeCEH certification, CISM and CISSP certification.