Cybercrime is sadly not a business risk that is going away any time soon. In fact, cybercriminals continue to find new and more sophisticated ways to breach cyber security systems.
With this in mind, we look at some of the possible cybercrime future predictions for 2022. You will want to be aware of these so that you can take the best possible steps to protect your business, employees, and customers.
Cybercrime future predictions for 2022
2022 looks set to see the continuation of some of the cyber trends which have been plaguing the UK in recent years, and some new techniques utilising and targeting the latest technologies.
Some areas to look out for include:
The National Cyber Security Centre (NCSC) reported a continued rise in the number of ransomware attacks taking place against UK businesses and organisations. And it is likely that ransomware attacks will continue to be a threat in 2022.
If you are the victim of a ransomware attack, the advice from law enforcement is not to pay the ransom – it will not guarantee the return of your files and will continue to fund criminal activity. Look at this guide from the NCSC when it comes to mitigating ransomware attacks.
Supply chain vulnerabilities
Back in 2021 we wrote about how cyber criminals could be looking to target members of large organisations’ supply chains as these are typically seen as possible ‘weaker links’ in a bid to find ways into a business with stronger cyber defences.
And it looks like this trend is likely to continue. The SolarWinds attack which took place at the end of 2020 into 2021 is widely highlighted as an example of a large-scale supply chain attack.
Focusing on supply chain management will continue to be of the upmost importance to your business when it comes to cyber security.
New technologies and new opportunities
This blog from Check Point also points to the ability of cyber criminals to take advantage of some of the newer technologies in 2022.
Some of the areas they highlight as trends for 2022 include:
Increases in mobile malware – with continued growth in the use of mobile wallets and mobile payment platforms, Check Point highlight potential for cyber criminals to alter their techniques to target these areas and the continued reliance on mobile devices
A focus on cryptocurrency – attacks could be centred around crypto wallets in a bid to steal cryptocurrency
Use of deepfake technology – it is thought that deepfake technology could be used to further enhance the sophistication of techniques such as phishing attacks.
How can you protect your business from cyberattacks in 2022?
Focusing on cyber security in 2022 will be vital for your business as cyber criminals continue to expand their attacks. We’ve written many times about different ways in which you can help to protect your business from cyber-attacks. And much of this advice will continue to be true for 2022.
Continue to focus on remote workers
Due to COVID-19, at the time of writing the official government advice is that anyone who can work from home, should. And as such, it is likely that your business will continue to have a large proportion of staff who are working remotely.
Remote working can bring with it increased cyber risks and has been widely reported as an area which cyber criminals have been looking to exploit. So, whilst you likely put in place processes and procedures in 2020 to address remote working, review these regularly and do look at our tips for remote working cyber security.
Ongoing training for your staff in recognising potential cyber-attacks will be key. Keeping up to date with the most likely or common forms of cyber-attack will help you stay ahead. Being informed and aware is an important form of defence.
Think about the basics
Don’t overlook the basics when it comes to cyber security. Good password management, limiting use of USB sticks or memory cards, use of an anti-virus system and ensuring that you make all updates for software that you make use of should be high up on your list of regular actions.
Know how to report cybercrime
We recently looked at reporting cybercrime and suspicious activity, including:
- The Suspicious Email Reporting Service (SERS) from the NCSC
- Action Fraud
Reporting any suspicious activity can help the fight against cybercrime.
This cyber security guide for small business is an essential resource from the National Cyber Security Centre (NCSC) if you are looking to take steps to improve your businesses cyber security in 2022.
Should your business invest in cyber insurance?
If your business stores data or relies on IT systems to run successfully then you are ultimately at risk of suffering a cyber-attack. And therefore, it is highly likely that some form of cyber insurance will be important for your business.
You should certainly consider taking out cyber insurance if your business:
- Holds sensitive customer data – names, addresses etc
- Processes card payments
- Use IT systems to run your business
- Have a website upon which you rely for business success
As we said before, the risk of cybercrime is not going away. It is a risk that your business should be acknowledging and addressing. As cybercrime continues to increase in prevalence, cyber insurance can offer a valuable safety net if you should be a victim of a cyber-attack.
Cover is wide ranging, covering areas associated with cybercrime such as:
- Costs of undertaking investigations into causes of a cyber-attack
- Business interruption
- Damage repair costs
- Assistance with reputational damage and crisis containment
- Costs of compensation claims
- Costs of regulatory investigations
The ABI offer a guide to cyber liability insurance for SME’s which may be worth referring to if you are considering cover for your business. Equally working with an experienced insurance broker can be a good option if you are unsure about cyber insurance and the cover which it could provide for your business.
At Anthony Jones we would always advise our customers to make conscious buying decisions. You need to recognise that cybercrime is a potential risk to your business to then be able to understand how cyber insurance could benefit your business. Not being aware of the risk, or the cover available is not a good enough reason to leave your business potentially vulnerable. We work hard with all our customers to understand their business and insurance needs and can help you put in place an adequate level of cyber liability insurance cover to protect you if an attack should happen. Contact us today on 0208 290 9080 or email us at email@example.com.