Cyber threats are increasing every day by matching each step of technological advancement. Cybercriminals are hyperactive and pose new threats to breach the systems of various organizations and institutions for stealing data for covert use. Indeed, there are enough reasons to cheer about the dramatic digital transformation businesses went through while dealing with the Covid19 pandemic. But at the same time, the rapid increase in cyber-crimes is a matter of grave concern. In 2021, the world witnessed significant security breaches due to massive cyber-attacks on the digital systems of some organizations. The Colonial Pipeline ransomware attack compelled the organization to shut its operations to deal with the breach. Similar ransomware attacks and data breaches have been occurring quite frequently, and it is imperative to strengthen the cyber security systems of organizations to stay protected from such attacks.
This article should help identify the steps that individual users and organizations should take in 2022 to protect their systems from security breaches.
Cyber security insurance
In addition to the threat of data loss due to hacking or system breaches, a bigger threat is the monetary losses involved in such attacks, especially with ransomware attacks on the rise. Even otherwise, stoppage of business operations due to security breaches can amount to heavy losses or organizations. Getting insurance cover for system security can compensate organizations or individuals for the financial losses incurred due to cyber-attacks. However, the insurance companies would like to enforce some standard security measures for the policy to take effect. There must be a robust security system in place to prevent insurance fraud. If breaches occur due to insufficient security, then the insurance company can turn down the claim as it’s a lapse on the policyholder’s part.
Upgrading home security systems to the enterprise level
Cyber security analysts foresee a massive change in the home security systems currently installed to prevent cybercrimes. Most of these systems focus on providing primary protection to the system and are not equipped to handle more complex security threats. It seems quite logical because the home systems are primarily for personal use. But now that more and more people are working from home, they are using the systems they used in the office that requires better all-round protection. They must install more robust security systems at home that match the enterprise level to protect organizational data. Companies relying on the work from the home model are facing severe challenges to extend the enterprise-level security for the homes of employees who might not have the desired infrastructure to install advanced security systems.
Employees working from home must facilitate the implementation of the advanced security systems, or they could be the soft targets of cybercriminals. Businesses must focus on Intrusion Prevention System tools (IPS), Identity Access Management Solutions (IAM), firewalls, etc., to strengthen the security perimeter at the employees’ homes. It should help overcome the challenges of monitoring the home devices and detecting threats.
The expanded role of AI/ML
In the coming days, Artificial Intelligence (AI) and Machine Learning (ML) will have a massive role in protecting systems from cyber threats. The E-commerce platforms enjoying an enormous surge in business after the pandemic are the biggest targets of cybercriminals. On average, any e-commerce business experiences 206,000 data breaches and cyber-attacks attempts. The criminals want to access millions of customers’ PII or Personal Identifiable Information. To counter the threat by identifying the right kind of security measures, AI and ML will play a critical role in analyzing historical data that point to the type of protection necessary.
Increased attacks on mobile devices
As mobile apps surge in popularity and mobile payments increase exponentially, mobile malware attacks will increase significantly. Although businesses rely on Mobile Device Management (MDM) solutions to gain control of all the mobile devices in the network, these are the targets of cybercriminals. Therefore, better protection of the mobile devices used for e-commerce activities is the need of the hour.
In the never-ending battle between good and evil, we will see organizations implementing advanced cyber security measures to stay protected by considering new threats that keep cropping up every day.
