4 Cyberthreats businesses have to watch out for in 2022

4 Cyberthreats businesses have to watch out for in 2022

Both 2020 and 2021 were challenging for businesses in Vancouver in terms of cybersecurity. Even with the ongoing pandemic, cybercriminals showed no signs of slowing down. In fact, the third quarters of both years saw very high numbers of ransomware attacks. It's likely that the number of cyberattacks will continue to increase in 2022. For this reason, you need to be as vigilant as ever about your business’s cyber defenses. To help you prepare for the months ahead, we’ve compiled a list of the cyberthreats you need to watch out for in 2022.

Supply chain attacks

A cyberattack affects not just the business it actually hits, but all parties connected to the victim as well, including vendors, customers, and even companies in the same industry. If businesses were individual chain links, a supply chain attack targets one link to compromise other links or the entire chain.

As an example, a data breach in one of your vendors could expose payment information and other details of transactions your business has made with them. This means that even after implementing the best cybersecurity measures and solutions, you can still suffer a breach if the parties you do business with aren’t mindful of their own security posture.

The number of supply chain attacks saw a concerning 42% increase in the first quarter of 2021, a trend that’s likely to continue this year. Businesses must protect themselves and the other links in their supply chains by bolstering their respective cybersecurity infrastructures.

Microservice attacks

These days, many complex applications are built from smaller apps or services — called microservices — that act as one by coordinating and communicating with each other. For example, Amazon’s website uses separate microservices for its Buy button and tax calculator function.

Microservices simplify app creation and deployment and improve developers’ ability to modify, repair, upgrade, and scale the app and its components as needed. Because of these benefits, microservice architecture will likely become more popular than ever as an app development strategy.

On the downside, microservice architecture can increase the number of attack surfaces you need to secure. This is because each of an app’s smaller components and their integration points can have vulnerabilities that cybercriminals may exploit. If your business uses microservices to develop and run apps, measures like restricting permissions to app components, encrypting app data, and continuous monitoring will reduce the risk of compromise. You should also impose usage rate limits to prevent abnormal traffic, such as that used in distributed denial-of-service attacks.

Mobile malware

Workers in remote and hybrid work environments use mobile devices to perform their tasks, while consumers employ these devices for cashless transactions through mobile wallets. Data suggests that mobile will only become more popular — from 7.1 billion in 2021, the number of mobile users will rise to 7.26 billion in 2022 and 7.49 billion in 2025. Ever the opportunists, cybercriminals will no doubt take advantage of this trend by launching more mobile malware attacks.

Like their counterparts on computers, mobile malware can do many things, including lock and steal data, spy on users’ online activities, and even grant cybercriminals control over infected devices. To reduce the risk of falling victim to such threats, it’s important to install anti-malware solutions on your devices. Users should also avoid untrustworthy websites and refrain from opening messages from unknown sources, as these can contain malware.

Deepfake technology

Deepfake uses artificial intelligence and machine learning to create believable fake visual and audio content. For example, imagine a realistic video of Martin Luther King, Jr. singing an Ariana Grande song. The technology has valuable applications in art, education, entertainment, and even solving crimes, but it can be very dangerous in the hands of cybercriminals.

Imagine receiving a phone call one day. On the other end, your boss tells you to wire money to an unfamiliar bank account. This particular request is strange, but the caller sounds exactly like your boss, so you oblige. And just like that, your company loses money to a scam that uses your boss’s deepfaked voice.

This is just one of the many nefarious schemes cybercriminals can pull off using deepfake technology. To fight this particular scam, make sure to verify any money transfer request with the person supposedly making the request. Use a different but real-time channel when verifying — for instance, if you receive a voice call, verify by contacting the requester through a video call. Additionally, limit the number of people in your company who can make and authorize money transfers. This reduces the number of people deepfakers can imitate and simplifies your verification process.

No one knows what 2022 has in store, but it pays to be prepared for all possible events, especially those that can potentially endanger you and your organization. At Quicktech, our specialists can help you develop contingencies and implement measures to overcome cyberthreats and other IT issues your business may encounter this year and beyond.

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