Top 5 Cybersecurity Trends in 2022

Cybersecurity in 2021 has been a challenge for many organizations around the world. No sector is spared from cyberattacks — even emerging companies and leading industry leaders from diverse industries are vulnerable to such attacks.

In the US alone, the Identity Theft Resource Center (ITRC) identified that the number of data breaches in 2021 has surpassed the volume of data breaches in 2020. With the increasing focus and development on cybersecurity, companies must be cautious of the security trends to prepare for the risks that may affect their businesses.

Cybercrime Trends Over the Years

Cybercrime has proven to be resilient over the past few years. It is perpetually evolving and adapting to the ever-changing cybersecurity landscape. Cyber attackers are becoming more innovative in conceiving strategies to deceive unsuspecting people and organizations. Phishing, cyber hijacking, and malware are among the top-of-mind threats in cybersecurity.

Instead of individuals, companies are now the target of malicious actors. Companies are goldmines of client information that is why they are often victims of cyberattacks. The attackers aim to extract as much personal information as possible and gain illegal access to financial assets. Repercussions of these incidents include compromised accounts, financial loss, customer distrust, and loss of clientele and credibility.

Cybersecurity Trends in 2022 and Beyond

The cybersecurity landscape has been a playing field for cybercriminals as attacks are becoming more and more sophisticated as years go by. Hackers continuously devise cunning tactics to compromise the cybersecurity of organizations. Such well-planned attacks are alarming, as those can disrupt the day-to-day operations of organizations aside from being a major financial issue. To heighten your organization’s cyber defense this year, keep your eyes open for these emerging cybersecurity trends.

Increased Focus on Policy-Making for Cybersecurity

Cyberattacks have become a worldwide concern that even government agencies are now more involved in the cybersecurity landscape. Manipulative actors are developing more elaborate attacks and are continuously polishing their tactics to be stronger and undetectable.

With the number of cases last year, companies can see an increasing demand for legislation to address cyberattacks. Legislators plan to further expand existing regulations or create new ones covering vast issues in cybersecurity. With the number of cases last year, companies can see an increasing demand for legislation to address cyberattacks. Legislators plan to further expand existing regulations or create new ones covering vast issues in cybersecurity. Recently, the US released an executive order to enhance the cybersecurity of public and private sectors, covering regulations on data security and incident reporting. Meanwhile, the Ransom Disclosure Act and the Cyber Incident Notification Act are currently being processed in the Congress.

As good as this sounds, companies will then have to reassess their compliance with new regulations and standards. This means keeping their cybersecurity compliance in check and reallocating resources to prevent breaches and attacks.

Increased Reliance on MSPs for Cybersecurity Measures

Forecasts show that unoptimized cybersecurity will significantly increase in the future, thus making more companies vulnerable to cyberattacks. Because of this, companies are looking into alternatives that can fulfill and improve their cybersecurity needs. Shifting to expert IT management services provided by Managed Service Providers (MSPs) is one way to keep them safe from attacks.

MSPs provide technology services like network, infrastructure support, and hosting services. Companies, no matter how big or small, are relying on MSPs for their strong set of seasoned IT professionals with a wide range of skills and expertise.

The Rise of AI and Biometric Technology for Passwords

As the attacks are becoming more sophisticated, passwords are becoming more complex. Passwords require complicated strings of letters, numbers, and symbols which ideally need to be changed regularly to minimize the risk of infiltration. The longstanding issue of breaches due to forgetting passwords is about to become a thing of the past.

The rise of AI and biometric technology paved the way for additional options to authenticate their identity and access accounts. AI technology ensures maximum security by assessing factors and risks involved in log-in attempts. Multi-factor authentication (MFA) utilizes AI technology in its verification factors to provide a more secure validation. A one-time password (OTP) is a kind of MFA people are most familiar with.

Biometric authentication uses your biological features to confirm your identity. One of the most popular biometric authenticators is fingerprint scanning. A single tap of a unique fingerprint is efficient and more secure to use than typing out passwords. Face recognition is also becoming a popular alternative to password authentication due to its convenience. One look into the camera is all that it takes to gain access. Utilizing AI and biometric technology will be more convenient for companies, as they do not have to keep in mind various passwords that are changed regularly.

Rising Cases of Cloud-Bound Malware Attacks

Due to their flexibility and convenience, clouds are preferred to host sensitive and confidential business data. This led hackers to adapt and shift their attacks to the cloud to manipulate company data. Financial institutions, who rely on cloud hosting and have state-of-the-art cybersecurity measures, still experience digital risks now and then. The cloud can become a hostile environment.

Cloud-bound attacks include cross-platform programming, as well as newer and lesser-known programming languages. Attackers take advantage of live migrations as a perfect window for their malicious activities. Having a poor cloud migration strategy can create cracks in security that could lead to data breaches. Moreover, companies allowing the use of personal devices increases the risk of attacks.

The Shift to Zero Trust in Security Strategy

Accessing the network outside is tough, but when accessed inside, users are automatically trusted. Once attackers gain access inside the network, it will be hard to stop their malicious acts. The fundamental principle of zero trust is the assumption that all traffic is hostile — no one or nothing can be implicitly trusted by default, hence its name. Building trust relies on several factors (e.g. user’s identity) with the security policy acting as a barrier in every step. Zero trust is a strategy where you can hinge on your cybersecurity measures.

With the surge of new working environments, such as remote and hybrid setups, there is a growing demand for an efficient zero trust security strategy. More companies are adopting this strategy as it boosts cybersecurity, simplifies infrastructure, and enhances user experience. Zero trust strategy minimizes the intensity and repercussions of a cyberattack.

Stay on Top of Trends with a Secure Digital Solution

The rise of remote and hybrid work setups caused cases of cyberattacks to skyrocket in 2021. Companies and governments alike are optimizing their security, as they can be the next victim of attackers. Such concern reflects on the trends seen for this year, which mainly focus on keeping compliance in check and minimizing vulnerability.

To prevent and recover from cybersecurity risks, your company should enhance its cybersecurity plan. Start with recognizing new threats, identifying and managing critical security activities, and securing new work models. It is also best to adopt digital solutions that are trusted to withstand any kind of security breach.

Adopting a digital solution, such as board management software, will help keep your company’s data secure. Convene is an enterprise-grade board meeting software that safeguards your information and protects sensitive board documents. It utilizes the latest technology to help your company confront threats and address ever-changing security challenges with the highest standards recognized by the industry.

Convene is equipped with cutting-edge security features compliant with global security standards. Its multi-layered approach offers users high levels of data protection, access control, and application security. It is compatible with several authentication methods, like Multi-Factor Authentication (MFA), to meet your company’s specific security needs.
Learn more about Convene, the trusted board management software, and its security features to help your company navigate through cybersecurity trends this year.