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According to research from the United States’ Identity Theft Resource Center (ITRC), as published by Forbes, the number of publicly disclosed data breaches would have surpassed the total for 2020 by October 2021. This was a record-breaking year for cyberattacks.
Manufacturers and businesses worldwide are under increasing pressure to adopt good cybersecurity with fewer resources. Automation and the Internet of Things (IoT) will be critical to success. Let’s take a look at some of the most likely cybersecurity trends in 2022, as well as the actions manufacturers may take to protect themselves.
Consider the case of Norsk Hydro, an aluminum firm situated in Oslo, Norway, which was the victim of a global cyberattack that lost the business $52 million. When it became a victim of the LockerGoga ransomware virus, the firm was forced to shut down around 22,000 PCs in 40 countries. LockerGoga, once installed, alters the user accounts in the affected system by changing their passwords. It was so severe that several of the company’s factories were forced to rely on old methods like pen and paper instead of API security.
Manufacturers are incorporating Know Your Business and Know Your Customer (KYB and KYC) measures into their working culture in the event of such cyber attacks, which use digitized and automated functions such as databases to verify the identities of customers, partners, third-party vendors, and suppliers. A zero-trust strategy is the most extreme step, in which the organization considers the network is hostile and allows just the least privileged access and permissions required to complete the intended purpose.
To stay cyber secure in 2022, manufacturers must adopt automation and the Internet of Things (IoT). They must have a solid cybersecurity plan in place to do so. This should start with a thorough examination of vulnerabilities and hazards. This is especially crucial for IoT security since some devices, such as sensors to monitor temperature or humidity, will be “set and forget.” Replacing old infrastructure with new technologies may be highly costly.
Equipping assets with smart sensors in tandem with SaaS (Software as a service) security solutions such as identity proofing technology may be crucial to manufacturers’ cybersecurity defenses in 2022. This is where an automated replacement parts vendor may help manufacturers adopt comprehensive cybersecurity while employing fewer resources.
Joe Biden has issued an executive order pertaining to the bill of materials. Every company must guarantee that what they believe is in their product is truly in the product. If your product is vulnerable to an exploit, you must safeguard your supply chain. You must guarantee that what is entering into your device is safe. This is done to avoid malware. These attempts are progressing into law and penalties.
Supply chains are built for the speedy delivery of goods and services, not for maximum security. They are also growing more sophisticated year after year, as stand-alone and disconnected to public networks systems fall out of favor in favor of IoT, faster 5G connection, and cloud technology. All of these technologies are dependent on the accuracy of their real-time data. Cyberattacks on these networks are particularly difficult to detect because they are designed to blend in with the legitimate activity of businesses, employees, and consumers.
Smishing (SMS phishing) incidences climbed by 700% in the first half of 2021. However, email phishing was also utilized effectively.
The rise in social engineering assaults has been connected to skillfully designed pandemic-related messaging aimed at distant workers. Other phishing schemes featured medical advice, information about remote jobs, and financial services.
The trend for 2022 is clear: hackers are growing more sophisticated. Social engineering assaults will be among the most serious types of cybercrime that individuals and businesses should be aware of.
Single unavoidable tendency – information security will be the main topic in business budgets. More financial and human resources, as well as dependable software, will be required to combat escalating cyber threats. The worldwide information security industry is expected to reach $170.4 billion by 2022.
The rising cost of cybercrime corresponds to rising cybersecurity spending. According to projections, the cost of cybercrime would increase at a rate of roughly 15% each year, reaching a frightening $10.5 trillion by 2025.
Allocate a portion of your enterprise budget to the tools you believe will be the most critical component in your company’s success next year.
Invest in trustworthy password management technologies, train personnel on cyber hygiene, and beef up your cybersecurity team to boost protection and preparedness.
Remember that your cyber safety depends not only on your company but on you as well. Do the most you can: use password managers like LastPass or create complex passwords, don’t keep personal details on your devices in unprotected folders, use VPNs like NordVPN, use two-factor or multi-factor authentication whenever possible. Don’t befriend strangers, or at least don’t overshare about your life. Use Nuwber to check the authenticity of a person before exposing some private details to them.
Follow the news on cyber attacks and internet trends to stay aware of recent scams and fraud schemes.
The market’s cybersecurity trends for 2022 suggest an alarming but controllable condition. It is critical to your financial stability, worldwide reputation, and efficient operations.
It goes a long way to remain on top of the growing threat landscape, from improving knowledge in the sorts of classic cyber assaults to better training your personnel on the types of dangers that exist. However, raising awareness and developing plans based on diverse frameworks are only the beginning; businesses must test those plans to verify that the people and systems in place perform as expected. Cybersecurity penetration testing, social engineering, and ransomware preparation services can assist firms in taking a proactive approach to cybersecurity.
There should be no such thing as a flawless strategy, and many people feel that the future is uncertain. However, if this were true, we wouldn’t have weather forecasts, and we wouldn’t have the list above, as well as the other lists compiled by other cybersecurity experts and specializing departments.