Much of the cyber turmoil (or cyberdemine) that plagued the world in 2021 will continue into 2022, with individuals remaining the largest source of risk in an irreversible online society, according to Experian’s annual data intrusion industry forecast for 2022.
“In a way, 2022 will be a kind of hangover from the 202 ‘cyberdemi’, commented a company that solves intrusion in its report.” Because so much of our lives are now happening online, the digitalization of society means that our infrastructure, institutions and personal “Life is more vulnerable than ever to malicious actors. Large institutions remain vulnerable, despite spending millions on security, and cybercriminals have plenty of opportunities to exploit weak technologies.”;
Natural disasters and supply chain disruptions – which are already a challenge for the broader insurance industry – are poised to become more of a problem for the cyber sector in 2022, Experian predicted. Charities and individuals are likely to see an increase in phishing attempts designed to elicit emotional responses in times of stress. Donation fraud after a disaster has already emerged and will not subside any time soon.
“Thieves will pretend to be legitimate sellers who sell few items in high demand – whether it be masks, personal protective equipment, oxygen or other critical items,” the company warned. The prediction is related to another: the fact that individuals’ susceptibility to fraud puts both companies’ and consumers’ pocket books at stake.
“Remote or hybrid work and IT [information technology] The infrastructure required to support these ever-changing patterns – both in the company’s offices and at home – means that vulnerabilities that arose last year will only become more acute in the coming years, ”the company commented.
Experian highlighted online gaming as a major source of attacks in the coming year. With many states legalizing this practice in recent years, cybercriminals have already begun to bet that online gamers and the platforms themselves will fall for phishing.
“While cyberattacks on fantasy sports sites are not uncommon, expect them to become much more common as more people engage in this activity … hackers [will] use this as a way to break into digital wallets, especially during times when bitcoin is soaring in value, says Experian.
The company said an increased reliance on digital assets would introduce more vulnerabilities in 2022. Non-fungal tokens (NFT) experienced significant hype in 2021, and “where value – or perceived value – goes, thieves and bad players will follow.”
“As cryptocurrencies and NFTs become more common and increasingly accepted as legitimate parts of our financial and technological landscape, both will become targets for attack,” Experian said. “The combination of a cryptocurrency transaction with distributed ledger technology makes NFTs uniquely positioned for multiple vulnerabilities.”
Experian predicted ways to further disrupt the national scene as hackers become more “cheeky” when it comes to targeting critical infrastructure. Infrastructure improvements have been a key goal for the federal government in 2021, one that comes with massive new budgets that cybercriminals will not be able to resist.
“The sums are so large, and their distribution involves so many institutions and processes – from the Ministry of Finance to suppliers, to banks, to individual entrepreneurs – that hackers will look for weaknesses in the money supply chain,” says Experian. State-sponsored hackers are also likely to seek further disruption to power grids, energy companies and manufacturers.
“Companies need to increase their focus and go beyond simply catching up with the ‘new normal’ in how they work,” said Michael Bruemmer, global vice president of the Experian Data Breach Resolution. must strengthen security protocols and have on-site response plans for data breaches – particularly for ransomware – in the event of a breach. “
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