2022 could be known as the year of increased growth. The increase in laws and security standards, as well as ransomware attacks , and technological risks. Cyberattacks, specifically ransomware that are on the increasing, IT teams as well as security professionals must be more vigilant more than ever.
As you prepare for the year ahead and review your security position, here are six security predictions to think about:
1. Legislation will grow since security issues at private firms affect security of the nation.
The consequences of ransomware as well as other cyberattacks aren’t restricted to the target business anymore. Attacks are now affecting entire areas. For example, attacks on businesses that provide fuel or food have caused empty shelves in supermarkets as well as lengthy lines for gas pumps. So, we can anticipate that the security requirements for private businesses in the critical sectors will become more rigorous. Particularly, notification requirements are likely to be affected, since governments will require greater insight into the details of cyber-attacks to enhance the law. In some instances, government might decide to employ carrots and sticks, including tax breaks to reward businesses to invest in cyber security.
2. Cyber insurance costs will increase , and policies will require greater security standards.
Insurance payouts are becoming increasingly frequent and expensive as well, Cyber insurance premiums have increased. Prices increased 96 percent across the US and 73 percent within the UK in the 3rd quarter in 2021 when compared to the same time the previous year. We expect to see continued growth in 2022. Additionally the insurance policy will demand the use of crucial controls to lower the risk of cybersecurity-related incidents. As attacks become more frequent and widespread, insurance companies will cover only in rare cases.
3. The next attack will be targeted at MSPs as a means to penetrate large corporations or government agencies
Attackers have discovered an extremely effective method of accessing large corporations via the less secure systems of IT for SMBs that offer services. In this regard Managed service providers (MSPs) must enhance the range and the depth of their security measures because a large number of SMBs depend on their security.