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Enzoic 2022 Predictions: Cyber Security Woes Continue to Grow

vmblog predictions 2022 

Industry executives and experts share their predictions for 2022.  Read them in this 14th annual VMblog.com series exclusive.

Cyber Security Woes Continue to Grow

By Mike Wilson, CTO & Founder Enzoic

2021 has been a year of unprecedented cybersecurity incidents and as we approach 2022, this trend will only intensify. Every organization needs to be cognizant of the overall threat landscape and the cybersecurity world at large. To mitigate the risks, companies must modernize their approach and proactively implement measures to improve their overall security posture. This requires evaluating that technology, processes and people are working in unison to secure your network. As that happens, following are five cybersecurity trends I predict will become increasingly relevant in 2022:

1.  Cybersecurity Insurance Premiums Skyrocket: Today's complex threat landscape means that requirements for affordable cybersecurity coverage will expand and discounts on premiums will increasingly be linked to actions organizations take-or fail to take-to mitigate threats. I predict cybersecurity insurance companies will get more hands-on with security requirements and apply unprecedented scrutiny when reviewing applications and significantly lowering coverage limits. Expect to see more requirements imposed and more discounts given for certain policies or technologies in use.

There will also be a surge in one-stop-shop cybersecurity platforms to help mid-market companies address security and meet evolving cybersecurity insurance requirements. These automated solutions will enable organizations to adapt to the dynamic threat landscape and alleviate some of the staffing shortage pressure that has plagued companies in recent years.

2.  Focus on Data Privacy To Expose ATO:  Historically, companies have viewed their account takeover (ATO) vulnerability through a loss calculation lens-for example, looking at charge-back expenses or the volume of customer complaints. As 2022 brings increased data privacy regulations and new legal precedents, organizations will need to rerun those calculations. 
3.  Ransomware: The End of Open Season: The past two years underscored that every organization, regardless of size and industry, can fall victim to a ransomware attack.  2022 will see companies getting help in their ransomware battle from an unexpected ally; government law enforcement. Expect to see greater coordination between the U.S. and international governments to identify, extradite and prosecute members of ransomware groups. As this happens, bad actors will become more selective when going after targets. Does this mean ransomware attacks will begin to dissipate? Sadly, no. However, hackers will make more risk/reward calculations and the Wild West scenario of ransomware attacks today will be replaced by a more cautious approach. 
4.  Interest in AI, ML and Emerging Tech Obscuring Importance of Security Basics: The coming year is sure to bring new AI and ML innovations but, as companies invest in these technologies, expect some to overlook the importance of security basics. While they might not be included in a Gartner Hype Cycle anytime soon, ensuring foundational security elements such as credential security, endpoint detection and internal firewalls is critical to ensuring the success of emerging technologies-and protecting the organization from attack. To put it another way, what's the point of investing heavily in smart home security if you leave your front door wide open? 
5.  Supply Chain Attacks Will Intensify: The 2021 SolarWinds hack underscores supply chain vulnerabilities. As we head into 2022, expect supply chain attacks to intensify. We've already seen instances of supply chain attacks originating through open source software using a variety of mass-market applications and operating systems and the new year will see some major developments in this area. 

Organizations must be mindful of the areas outlined above and take steps to address vulnerabilities before bad actors have the chance to capitalize.  It's important to remember that no organization is immune to the threat of attack.

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ABOUT THE AUTHOR

Mile Wilson, CTO & Founder, Enzoic

Mike Wilson 

Mike has spent 20 years in software development, with 12 years in the information security space, at companies like Webroot and LogicNow. At Webroot, Mike led the development of Spy Sweeper, Webroot's industry-leading anti-spyware product, and later the development of Webroot's first mobile security product for smartphones. At LogicNow, he again led the development of an anti-malware product, this time introducing enhanced antivirus and web filtering functionality to the Managed Service Provider (MSP) space. Mike started his career in the high-security environment at NASA, working on the mission control center redevelopment project. In addition to his security experience, Mike has founded several successful startups over the years.

Published Wednesday, December 15, 2021 7:35 AM by David Marshall
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