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Cybersecurity predictions for 2022 that include immediate actions to take

Several of the cybersecurity experts we present here warn that 2022 is one where attackers will thrive, building on coalitions, creative attacks, and our own failings to deal with the threats.

Organizations will continue to compete to attract and retain highly-skilled cybersecurity talent. Scammers are banding together to automate and streamline fraudulent operations. In the Middle East, at least 50 organizations fell prey to ransomware attacks in 2021

Several of the cybersecurity experts we present here warn that 2022 is one where attackers will thrive, building on coalitions, creative attacks, and our own failings to deal with the threats.

Experts at Attivo Networks, via their 2021 Verizon Data Breach report, shared their evidence-based forecasts into cyberattacker behavior and tactics, techniques, and procedures (TTPs).

The report said 61% of breaches involved credential data. “If there is one thing we can learn from 2021, is that the cyber attackers focus on credentials to expand their reach into their victim’s networks,” said Ray Kafity, Vice President Middle East Turkey and Africa (META) at Attivo Networks.  Recent Examples are the Colonial Pipeline incident where fuel shortages resulted from a single compromised password or the Solarwinds breach.  

Increased investment in identity security solutions

Traditional security solutions are no longer enough. And while existing solutions like Identity and Access Management (IAM), Privileged Access Management (PAM), and Identity Governance and Administration (IGA) provide basic identity protections, their focus on authorization and authentication leave gaps for attackers to exploit. To close those gaps, enterprises need to invest in Identity Detection and Response (IDR) solutions.

Ransomware defenses need a badly needed refresh

Ransomware 3.0 is here, characterized by double extortion where cybercriminals encrypt files and leak information online to drastically impact the company’s image, profits, stock price, and more. With over 300 variants, stopping ransomware requires a multi-faceted approach that starts with protecting Active Directory and privileged credentials.  

Insurance companies will raise rates and technology requirements 

Cybersecurity Ventures estimates that ransomware costs will reach $265 billion by 2031, with an expected 30% year-on-year growth in damage costs over the next ten years. To help minimize their risk, insurance companies will increase their premiums and institute stringent security technology requirements as a prerequisite to extending coverage or making payouts. 

Read the full article by Hadi Khatib on AME Info.

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