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What are 2022’s top trends in security risk management?

13 May, 2022

With businesses across every sector inviting greater digitisation into their processes and growing more reliant on technological systems to sell products, offer services and store data the level of disruption a cyberattack can cause is constant.


eCommerce revenue has grown by over £5.3bn in the UK, largely as a result of the pandemic. Sectors such as finance have launched additional online services to help customers safely make transactions and use other banking services. This increased use of technology solutions, as well as website and app usage, provides opportunities for cyber attackers to steal data or use other techniques to extract money.


Businesses must have a high-quality security risk management framework in place, incorporating the latest risks and trends that are impacting their industry. Understanding what risks to look out for can help to educate employees to protect the organisation from attacks, although new and more sophisticated techniques are continually being developed.


With that in mind, we’re taking a look at what the top cybersecurity risks of 2022 are, and what steps you need to take to secure your organisation. Let’s get started.


What are the top cybersecurity risks in 2022?


Ransomware


Ransomware was the top threat in 2021, with high-profile incidents such as the Colonial Pipeline attack, where hackers demanded $4.4m in ransom after shutting down the company’s digital systems.


Ransomware attacks can affect businesses of all sizes because criminals rely on human error to infect systems. Some companies think up-to-date firewalls and a comprehensive backup system is enough to protect them from data loss.


Whilst a comprehensive backup system can sometimes protect an organisation from data loss, the main way to protect against this is to ensure employees are trained to recognise an attack and avoid clicking on unsafe links.


Cloud attacks


Cloud-based technology has helped businesses to operate easily over multiple locations, support a remote working model, as well as access systems and data from anywhere in the world.


However, attackers are targeting vulnerabilities in cloud services - a fact reinforced by studies showing that 79% of companies have experienced at least one cloud data breach in the past 18 months. Needless to say, this is a growing concern in 2022.


Phishing


Phishing attacks have long been the #1 element behind successful breaches, and that’s no different in 2022.


Attackers have used the continual uncertainty of the pandemic to take advantage of individuals. For example, cybercriminals are claiming to be from the NHS and requesting payments for vaccinations or tests.


There are thousands of examples of scams, but the vast majority can be spotted and stopped before they do harm. Effective training can dramatically reduce click rates on phishing attempts - like Bob’s Culture, which cuts link clicks by 21% and phishing open rates by 29%.


What steps are required to protect from cybersecurity risks in 2022?


Unfortunately, there’s no silver bullet to protect businesses from cyber-risks. Organisations must have comprehensive security risk management frameworks in place that include responsibilities for the IT, HR and training departments. While the IT department will need to implement IT security solutions and processes, the responsibility does not stop with them.


The key to a successful risk reduction programme is empowering every employee to play a key role in protecting the organisation. In turn, this creates cultural change to drive more risk awareness and develop risk management behaviours across the whole business, from the exec team to front-line employees.


Bob’s Business can help you to develop an effective security risk management framework through high-quality engaging and innovative cybersecurity training that drives the required culture change.



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