2022 Set to Be "Hangover" Year From 2021's Cyber Epidemic
Cyber News - Experian's annual Data Breach Industry Forecast for 2022 predicts that much of the cyber turmoil experienced in 2021 will continue into the following year. Individuals are identified as the primary source of risk in today's digitized society. Despite significant investments in security, large institutions remain vulnerable, providing ample opportunities for cybercriminals to exploit weak technologies. In addition to ongoing challenges such as natural disasters and supply chain disruptions, the cyber sector is expected to face increased phishing attempts targeting charitable organizations and individuals during times of stress. Scams related to post-disaster donations and impersonation of legitimate vendors selling scarce items are likely to persist.
The report also highlights the heightened vulnerability of corporations and consumer finances due to individuals' susceptibility to scams. The shift to remote or hybrid work further exacerbates vulnerabilities in IT infrastructure, both in corporate offices and homes. The prediction foresees online gambling as a growing target for cyberattacks, given the relaxation of gambling laws and advancements in technology. Cybercriminals are expected to exploit online gamblers and platforms through phishing scams, particularly during periods of high bitcoin value.
The increasing reliance on digital assets introduces additional vulnerabilities, with non-fungible tokens (NFTs) attracting attention from thieves and bad actors due to their perceived value. Cryptocurrencies and NFTs will likely become targets for attacks as they become more commonplace in financial and technological landscapes. Moreover, hackers are anticipated to become more audacious in targeting critical infrastructure, taking advantage of large budgets allocated for infrastructure improvements. State-sponsored hacking by cybercriminals associated with foreign governments may seek to disrupt electrical grids, energy firms, and manufacturers.
Experian emphasizes the need for businesses to enhance their focus on cybersecurity and move beyond catching up with the "new normal." Security professionals should strengthen security protocols and have data breach response plans in place, especially for ransomware incidents. For more information, contact KRGinsure.