Why Cyber Security Should Be Important to You in 2022

October 26th, 2022 by admin

As we approach the new year, it's important to reflect on the past and set our sights on the future. When it comes to cybersecurity, there are a few things that we can learn from last year and what we can expect in the coming year. Here are four reasons why cyber security should be important to you in 2022:

1. The Landscape of Cybersecurity is Constantly Evolving

   One of the most important things to remember about cybersecurity is that it is always evolving. What may have worked last year might not work this year. That's why it's so important to stay up-to-date on the latest news and trends in the world of cybersecurity. By keeping up with the latest information, you can help ensure that your business is as protected as possible.

2. Cyberattacks are Becoming More Sophisticated

   As cyberattacks become more sophisticated, it's important to ensure that your business is prepared. By investing in the right tools and training, you can help defend your business against even the most sophisticated attacks.

3. The Cost of a Data Breach is Rising

   The cost of a data breach is rising every year. In fact, the average cost of a data breach in 2020 was $8 million. This number is only expected to rise in the coming years. As the cost of a data breach rises, it's essential that your business has insurance in place to protect you financially against any events of a breach.

4. Cybersecurity is Good for Business

   Investing in cybersecurity is not only good for your business, but it's also good for your customers. By ensuring that your business is protected, you can help build trust with your customers and create a positive reputation for your company.

These are just a few of the reasons why cyber security should be important to you in 2022. By staying up-to-date on the latest news and trends, investing in the right tools and training, and protecting your business with insurance, you can help ensure that your company is prepared for whatever comes next.

The Top Cyber Security Threats in 2022

As a business, it is imperative that you are aware of the top cyber security threats that you may face in the current year. Therefore, we have highlighted the top cyber security threats in 2022:

1. Ransomware

   Ransomware is a malware type that encrypts the files of its victims and demands payment of ransom for decrypting them. Ransomware has become one of the most prevalent and costly cyber security threats, with attacks on businesses nearly doubling between 2019 and 2020. The average ransom demand has also increased from $10,000 in 2019 to $12,762 in 2020.

2. Phishing

   Phishing attacks are a social engineering type where hackers try to trick their victims into sharing sensitive data and information or clicking on malicious links. Phishing attacks are often difficult to detect, and they can have serious consequences if successful. According to the FBI, phishing was responsible for over $2.7 billion in losses in 2019.

3. Cloud Security

   As more businesses move to the cloud, the risk of cloud security breaches increases. While the cloud can offer many benefits, it also introduces new security challenges, such as data loss and theft, account hijacking, and Denial of Service (DoS) attacks. In 2019, there were over 1,600 reported cloud security incidents, resulting in over $5 billion in damages.

4. IoT Security

   IoT devices are becoming increasingly commonplace in both homes and businesses. However, these devices often have poor security protocols, which can make them easy targets for hackers. IoT security threats include data breaches, DDoS attacks, and malware infections. In 2020, IoT security incidents resulted in over $10 billion in damages.

5. Cryptocurrency Crimes

   Cryptocurrency crimes, such as Bitcoin scams and Ethereum phishing attacks, have become increasingly common in recent years. These crimes are often difficult to detect and can have serious financial consequences for victims. In 2020, crypto crimes resulted in over $4 billion in losses.

6. AI-Based Attacks

   AI-based attacks are a relatively new type of threat that is expected to increase in the coming years. These attacks make use of artificial intelligence (AI) and machine learning (ML) to bypass security defenses and carry out sophisticated attacks. AI-based attacks are often very difficult to detect and can have serious consequences for businesses and individuals.

7. 5G Security

   5G is the next generation of mobile networks, and it is expected to bring a number of benefits, such as faster speeds and lower latency. However, 5G also introduces new security risks, such as data breaches and DDoS attacks. In 2020, 5G security incidents resulted in over $1 billion in damages.

8. Industrial Control Systems (ICS) Security

   Industrial Control Systems (ICS) are used in a variety of industries, including energy, manufacturing, and transportation. These systems are often targeted by hackers due to their critical role in infrastructure. ICS security threats include data breaches, malware infections, and DDoS attacks. In 2020, ICS security incidents resulted in over $1 billion in damages.

9. Cyber Espionage

   Cyber espionage is a type of cyber-attack in which hackers attempt to steal sensitive information from businesses or governments. These attacks are often highly sophisticated and can have serious consequences for the victims. In 2020, cyber espionage incidents resulted in over $2 billion in damages.

10. Insider Threats

    Insider threats are a type of cyber security threat that comes from within an organization. These threats can come from employees, contractors, or other insiders who have authorized access to an organization's systems and data. Insider threats can result in data breaches, fraud, and theft. In 2020, insider threats resulted in over $1 billion in damages.

Cyber security is a rapidly evolving field, and new threats are constantly emerging. Businesses and individuals need to be aware of the latest threats and take steps to protect themselves.

Cyber security is an evolving threat, and businesses must be abreast of the latest developments and threats in the industry to secure themselves. That's why it is imperative that you make cyber security a priority for your business because it will govern your entire business structure. If you want to learn about the top cyber security threats in 2022 or why cyber security should be important to you in 2022, then contact TouchPoint Networks today.

Tags: Cloud, Cyber Security, cyber threats, phishing

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