Cybersecurity Threats and Issues in 2022
The massive integration of network and digital technologies in the working environment has exemplified substantial benefits and opportunities for businesses of all sizes. The necessity for businesses to utilize the network and digital technologies has elevated cybersecurity into becoming a serious organizational issue that has to be adequately addressed with effective strategies and policies that can prevent and mitigate cyber risks and threats. The last decade exemplified numerous cases of reported cybersecurity incidents and data breaches, which as the statistics have shown, several organizations have suffered great business, financial, and reputational damages.
As many businesses around the world have had to transition to working-from-home operations, relying on the available digital tools and solutions that enabled organizations to continue their business functions. The increased utilization and reliance on these digital tools also meant that there would be a significant increase in the amount of data that is created. Witnessing this increased dependence on digital solutions and network technologies, malicious entities have sought to increase the frequency and sophistication of attack methods and strategies placing users worldwide on an increased cybersecurity threat landscape that affects individual users as well as organizations, institutions, and governments.
Considering the alarming rate of cyber-attacks, organizations have had to proactively develop cybersecurity strategies, policies, and mechanisms that would enable them to mitigate and eventually respond to cybersecurity risks and threats. Apart from the exemplified dependence on the network and digital technologies by organizations that have emphasized cybersecurity concerns, another major issue arose with the increased global rates of internet consumption by individual users via smartphones and mobile devices. Due to the increased possibilities of connection, every device that possesses access to a network can be a security liability that can lead to a potential cyber-attack or data breach.
Furthermore, the development of emerging technologies such as the Internet-of-Things and Artificial Intelligence have contributed to the expansion of the cybercrime landscape which has consequently increased the complexity of cybersecurity professionals and institutions. While organizations continue to operate in the modern digital landscape, it is of vital importance that organizations develop internal mechanisms that can enable the organization to develop cybersecurity strategies and policies that promote awareness regarding cyber risks and threats, as well as the best practices that help eliminate the option of potential weak links.
Most Prevailing Cybersecurity Issues in 2022
The rise of cybercrime has become one of the most prevailing global concerns which has cost over $4 trillion on a yearly basis, exceeding the economies of some of the biggest countries in the world. Since the beginning of the pandemic in 2020, cybercriminals have sophisticated their attack strategies to adapt to the changes in working operations which have exemplified various security risks and threats that can be exploited. Some of the prevailing cybersecurity issues that organizations will have to deal with include:
- The sophistication of Phishing attacks: Phishing is currently one of the main cybersecurity issues, with over 75 percent of targeted cyber-attacks initiating with an individual in the organization opening a malicious attachment. Due to the shift to working from home, staff members have become acquainted with utilizing SaaS in their homes provided via the cloud. With adequate login credentials, cyber-attackers can gain access to sensitive data and resources and cause damages.
- Increased severity of Ransomware: As one of the prevailing cybersecurity issues, ransomware has seen no signs of stopping in recent years. The severity of ransomware attacks has significantly risen with the increase in the value of data and resources that they encrypt. Cybercriminals apart from requiring the ransom payment to provide the decryption key, are now increasing their bargain by threatening with the public release of encrypted resources.
- Insider Threats: Due to the sophistication of attack strategies, the risks from insider threats have become a prevailing cybersecurity issue. As the possibilities for remote connection and access to shared resources have become a necessity, the opportunities of insider threats have risen as well with a rise of 44 percent in the last two years, encompassing negligent, compromised, or malicious users.
- Transition to 5G: The transition towards the fifth generation of telecommunications technology has accelerated the growth of technologies such as the Internet-of-Things, Artificial Intelligence and Machine Learning. Cybercriminals can exploit the vulnerabilities presented by the transition and infiltrate network infrastructure that can cause severe issues for organizations and institutions.
- Covert crypto-mining: Cryptocurrencies have become one of the most popular topics over recent years with a significant surge in the prices and markets available to users worldwide. As the value and prominence of cryptocurrencies continue to rise, threat actors have started to target users to secretly install crypto-mining software that enables the attackers to utilize the processing power of the victim to generate cryptocurrencies while reducing the speed of the computer and consuming much more electricity.
Efforts on Enhancing Cybersecurity
Considering the increased threat landscape and the reliance of modern businesses on technology, it has become imperative that organizations develop cyber resilience capabilities that enable them to prepare, respond, and recover from cybersecurity risks and threats. When organizations develop cyber resilience capabilities, they will be able to adapt and thrive under adverse conditions and effectively resume their business processes and operations avoiding any major disruption. The cyber resilience capabilities for organizations can, in turn, directly influence their enterprise resilience which addresses strategic, operational, financial, and cybersecurity risks with a focus on driving sustainability, growth, and profitability.
Moreover, organizations operating in the modern digital age have to prioritize the promotion of cybersecurity awareness and training programs as a preventive mechanism that would enable the working staff to become acquainted with the most prevailing cybersecurity risks and threats that they and the organization are exposed to. As the risks and issues related to cybersecurity will continuously evolve with the advancement of technologies, organizations will have to develop internal capabilities that would enable them to appropriately adapt and respond to cyber risks and threats. Business leaders will be tasked with enhancing their cybersecurity understanding and enhancing their collaboration with security experts and professionals.
At CUNITECH Institute, we provide a range spectrum of professionally developed online courses and programs to help you boost your professional expertise and competencies. We have thought about your needs, and we are more than happy to provide you with our Professional MBA in Cybersecurity program. In the Professional MBA in Cybersecurity offered by CUNITECH Institute of Ottawa, Canada, you will be subjected to fourteen (14) cybersecurity courses that comprise a substantial amount of knowledge and information for becoming a prominent cybersecurity figure in the organization that you operate in. The Professional MBA in Cybersecurity program is provided 100% online and allows you to learn at your own pace and convenience. The courses that are provided in this program are CPD certified by the Institute of Continuing Professional Development, which is the leading institute concerned with continuing professional development in the United Kingdom.