Whether it's technology, new skills, or certifications, companies worldwide are increasing their investment in cybersecurity - and there’s no question why. It seems as though each day, another company becomes a victim of cybercrime, costing them thousands, if not millions. In response, companies are revamping their own cybersecurity practices in an attempt to avoid the same fate.
Still, while investing in cybersecurity is a smart decision, companies need to know where to invest in order to get the most out of their investment. For this reason, we have pulled together the most prevalent cybersecurity trends of the new year to guide you in this decision, with a few extra tips and tricks along the way.
1. Growth of Ransomware Attacks
Over the past few years, the threat of ransomware attacks has reached an all-time high. While cybercrime was far from harmless in the past, it has grown increasingly damaging for businesses, costing them millions of dollars. As a result, companies have taken extreme yet necessary measures to protect their data and avoid such losses.
In tandem with the growing risk of ransomware is increased attacks on cloud systems. More and more businesses have adopted cloud-based computing services, enabling them to access software and other services remotely. While migrating to the cloud is highly beneficial to modern companies and tends to result in better data protection, it can also put a target on the backs of businesses.
Just as a company’s workforce can access their cloud environment from any location, so can hackers. If an organization’s systems are not properly maintained or monitored, attackers can exploit vulnerabilities in their system, gaining access to private information to hold for ransom. For this reason, it is crucial that organizations take their cloud security seriously and implement the right preventative measures.
In efforts to fight off these cybercrime threats, many businesses are increasing the internal monitoring of their ISMS and addressing security threats more proactively. One security practice that is highly beneficial for businesses is the implementation of 24/7 monitoring. If companies constantly monitor their ISMS and network, they are more likely to prevent cyberattacks and stop them before they become ransomware.
Furthermore, thanks to developments in AI-powered cybersecurity, monitoring and more can be automated. As a result, companies can improve their preventative security measures at no additional labor, increasing efficiency and accuracy along the way.
In addition to implementing more robust internal security measures, the rise of ransomware has also led to a growing government interest in and influence on cybersecurity. When sensitive data is leaked from a data breach or hack, it affects not only the company involved but also their customers. As such, many government groups are looking to implement stricter information security regulations for companies in the next few years.
2. Rising Remote Work Risks
Ransomware attacks are not the only threat to be worried about in 2022. As the COVID-19 pandemic led to thousands of professionals working remotely, it introduced companies to new security risks. The more employees who work remotely, the more entry points into an organization’s network.
Many WFH employees access company data and software via insecure, public, or home networks, whether on personal or corporate devices. Each time an employee uses a personal device on a company network or a company device on a public network, they open their organization up to many security risks.
For this reason, companies worldwide are doubling down on their security protocols. One practice that is expected to continue growing in popularity is multi-factor authentication. MFA serves as an additional layer of protection over a company’s network, making it harder for unauthorized users to gain access.
This security measure enforces users to confirm their identities using two or more devices, ensuring that the user is who they claim to be. MFA serves as an excellent method of mitigating security risks and thus helping organizations to prevent cyber attacks.
Another beneficial security approach is the zero-trust security approach, which MFA falls under. Zero-trust is the concept that organizations should not trust anyone immediately and instead verify every user that attempts to access their system. This approach significantly reduces the unauthorized access of users and thus the leaking of sensitive information. As cybercrime continues to climb, there is no question that MFA and zero-trust will continue to grow in popularity this year.
3. Prioritizing Data Privacy
Considering the past two trends we’ve discussed, there’s no question that organizations will be placing a higher priority on data security this year. While implementing new cybersecurity protocols is crucial, that may not be enough. Fortunately, there are additional measures that companies can take to strengthen security beyond requiring additional passwords.
Many companies are revamping their information security by hiring new talent and skills into their organizations. As companies look to improve their security, IT professionals with experience in data privacy and information security are in high demand. Whether adopting new talent or reskilling their current workforce, organizations are looking to onboard experts in information security to help drive internal efforts. Doing so can equip organizations with the skills necessary to defend themselves.
That being said, there is a skills gap and talent shortage worldwide, particularly concerning cybersecurity expertise. Finding the right talent can be challenging, and as demand for it is high right now, companies need to be competitive when recruiting. Fortunately, there is an alternative for companies seeking cybersecurity skills - managed cyber security services.
When companies outsource their cybersecurity needs to an MSP, they gain state-of-the-art technology in addition to a team of skilled, experienced IT professionals. An MSP, combined with an MSSP, will have the tools and information security knowledge to take any company’s security to the next level, protecting them from the growing threat of cybercrime.
To take security even one step further, some companies earn certifications in information security, such as the ISO 27001 certification. This certification is an internationally recognized achievement of information security standards, demonstrating to customers and shareholders that you have reached an extremely high level of security.
While the process to achieving the certification is long and thorough, it ultimately results in an improved ISMS, helping your organization stay protected from cyberattacks. Still, if your organization cannot afford the time or cost of obtaining the certification on your own, you may consider partnering with an ISO-certified MSP. As a result, you benefit from the skill, experience, and reputation of a highly accredited partner without going through the hassle of a certification yourself.
Cybersecurity is a serious matter, especially in 2022, where it seems to be everywhere. Still, there are specific actions that organizations can take to protect themselves from these risks. By implementing proactive security measures and closing the security skills gap, companies can create a robust ISMS to withstand growing threats. Whether adopting new protocols or outsourcing your security needs to experts, revamping your organization’s cybersecurity is a necessity in 2022.