The global cybersecurity market is expected to be worth a whopping $352.25 billion by 2026. This is an annual growth rate of 14.5%. Furthermore, cybercrimes cost the world nearly $600 billion each year.
Despite these shocking statistics, according to the 2019 Global Data Risk Report, only 5% of companies’ folders are properly protected. Plus, nearly 80% of senior IT and IT security leaders believe that organizations do not have enough protection to protect themselves from today’s increasingly sophisticated cyber-attacks.
If you want to keep your business protected in 2022 and beyond, a good place to start is by learning the latest cybersecurity threats and some quick tips on protecting yourself.
1. Supply chain attacks
Cyberattacks are no longer confined to affecting just your business. They can also now have a negative impact on your partners, providers, and other companies within your supply chain. To combat these supply chain attacks, expect to see government officials and private organizations working together to identify and stop cybercriminal groups. Ensure your supply chains are robust to minimize your risk of supply chain attacks, too.
2. Cryptocurrency attacks
As more and more people start to use digital money, you can expect to see cybercriminals finding new and innovative ways to steal it. Cyber gangs will look for any flaws in your security and IT systems and attempt to exploit them to their advantage, so it is crucial that you have the right Business IT Support in place.
3. Mobile malware attacks
As remote working became the norm in 2020/21, cybercriminals turned their efforts towards mobile malware. In 2021 alone, 46% of organizations had at least one employee download a malicious mobile application.
In 2022, with many employees continuing to work from home or embracing hybrid working, businesses need to ensure their employees have adequate training in how to use their mobile phones safely. Identify all potential entry points for cyber-attacks, such as company mobile phones and laptops.
4. Microservices attacks
Most cloud service providers now support microservices, so, of course, cybercriminals have found ways to exploit microservices for their own gain. During the next 12 months, businesses need to be vigilant of microservices attacks that target CSPs as these are set to increase as the year goes on.
5. Larger scale data breaches
As infrastructures improve and technologies advance, you can expect to see cyber gangs carry out more sophisticated and widespread attacks. This, in turn, will result in cybercriminals demanding higher ransoms to return stolen data. Therefore, you should consider cyber insurance, which will cover the costs of any financial loss resulting from a cyberattack. It would also benefit you to activate data encryption so that you can share and store your data safely and do not use the same passwords for multiple accounts and instead utilize passphrases.
If you can identify the risks to your company and familiarize yourself with these types of cyber-attacks, then you are on the right track to protecting your company. It can help to also invest in employee training so that remote workers know how to identify and avoid these common cyber threats.