There is no question, our world is more digitized than ever. Technology can offer significant and various benefits, but it has caused individuals and businesses to be more susceptible to cybercrime. Cybercrime has steadily become more common and costly.
With the rapid shift of work to remote and hybrid offices in the past two years, hackers welcomed this transition and took advantage of the vulnerability and gaps in security by businesses. Cyber-attacks continue to threaten businesses in 2022.
Cyber Security Turmoil Trends in 2022
Cyber security risks have been increasing over the past two years. These types of events have given rise to data compromise and continue to evolve. According to the Identity Theft Resource Center’s annual report, 2021 was a record-setting year for data compromise events and was up 68% from 2020.
Cybercriminals Success Rate
According to Forbes.com, in a recent study that was conducted by Positive Technologies, these types of industries were examined to determine an external attacker could breach 93% of an organization’s network and gain access to the company’s resources:
- Financial organizations
- Fuel and Energy organizations
- Government bodies
- Industrial businesses
- IT companies
The number of breaches in 2021 is alarming. The cyber-attacks that were committed were highly sophisticated and complex. The president and CEO of the Identity Theft Resource Center, or ITRC, shared a prediction that “there is no reason to believe the level of data compromises will suddenly decline in 2022.” The top cyber security attack event and cause of data compromise is ransomware.
Ransom-Related Data Breaches
Ransomware typically involves infecting devices with a virus that locks files away, and the attackers threaten to destroy or publicize them unless a ransom is paid. In either case, this leaves businesses vulnerable and susceptible to fines and ransom.
Rising Cyber Security Ransomware Threats
Ransomware attacks have doubled over the last two years and are continuing to rise in 2022. Ransomware attacks typically occur in small and medium businesses but have been expanding to large corporations.
According to the ITRC report, the cyber attacks have recently been affecting critical infrastructure and supply chains’ security. The weaknesses were targeted and exploited at higher rates than in the past.
Other cyber attack events include but do not exclude other cyber attack methods:
- Business email compromise
- Zero-day attacks
- Credential stuffing
As a business, it’s important to review cyber security for your company and understand the impact it can have on your organization. AssuredPartners Cornerstone can help you understand the importance of fortifying your cybersecurity and help you protect against cyber attacks.
Ensure You’re Protected with AssuredPartners Cornerstone
AssuredPartners Cornerstone can safeguard your business against cyber attacks — including ransomware, fraud, theft and data breaches. With the proper risk management, you can ensure you are adequately addressing the growing and evolving data breach threats.
If you have any questions or concerns about your cyber security risks and want to ensure you’re protected against risk or loss, contact AssuredPartners Cornerstone today.
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