As discussed in Part 1, cybersecurity threats will become increasingly sophisticated and more costly to victims. Part 2 will continue discussing the most dangerous cybersecurity threats of Summer 2022.

Cloud Vulnerabilities

Many are assuming that the cloud is becoming increasingly secure. However, an IBM study discovered that cloud vulnerabilities have risen more than 150% in the past five years. A Verizon study found that over 90% of nearly 30,000 breaches resulted from web app breaches. At the moment, cloud security is the most rapidly expanding expenditure in the cybersecurity market, seeing a more than 40% annual increase to $841 million in 2021.

The adoption of Zero Trust cloud security architecture is expected to help stem this tide. Designed to function by assuming a network has been compromised, verifications are then required at every step and sign-in, rather than granting continued access to network and recognized devices.

Bad Cyber Hygiene

The regular practices and habits of a company in its use of technology determines the quality of its cyber hygiene. Examples of good cyber hygiene are the implementation of safeguards such as multi-factor authentication, a VPN, and using only protected WiFi networks. In contrast, most American businesses typically have bad cyber hygiene.

Almost six out of 10 organizations depend on their employees’ memories for managing passwords. About four out of 10 use sticky notes. A little more than half of IT professionals are not requiring two-factor authentication in order to access their company’s accounts. In addition, less than four of 10 people utilize two-factor authentication for their personal accounts. Surprisingly, less than half of Americans change their passwords after a data breach occurs. Only a third change their passwords regularly.

Part 3 will continue discussing the most dangerous cybersecurity threats of Summer 2022.

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