As discussed in Part 1, 60% of companies close their doors permanently within six months after suffering a serious cyberattack. Part 2 will cover four more cybersecurity trends to watch for in 2022.

5) Financial Services

Financial services are struggling to comply with regulations as they migrate to cloud platforms. These organizations are vulnerable to being victimized by phishing attacks deployed via messaging and social media platforms. In addition, financial companies are targeted with malware attacks to steal their sensitive data. When compared to other industries, financial systems are more vulnerable to cyberattacks, resulting in average losses of $18 million per organization.

6) IoT Vulnerability

Security vulnerabilities persist with IoT (Internet of Things) devices that are being widely used. Embedded devices allow them to send and receive data via the Internet. As a result, users are left vulnerable to security threats like hijacking or DoS (Denial of Service) attacks. IoT is increasingly connecting the physical world to virtual spaces, and this can lead to a growing number of home intrusions.

7) Machine Learning

The role of ML (machine learning) in cybersecurity is growing as cybersecurity attacks grow in frequency and sophistication. Integrating ML will make cybersecurity simpler, more effective, and less costly. Through algorithms, ML is capable of recognizing the patterns of cyberattacks and addressing threats in real time. In addition, the ability to learn helps prevent future similar attacks.

8) Smartphones as Attack Vectors

The majority of e-commerce and financial services platforms are accessible through smartphones. Users are being targeted by cybercriminals when they are connected to these platforms while using mobile devices. Many people are now using their smartphones for banking, hotel reservations, and purchases using debit and credit cards. Nowadays, over 70% of fraudulent transactions are being carried out by cybercriminals over mobile devices.

Alpha Business Support

Choosing an expert computer technology-support provider is an important decision for your business. Alpha has been a trusted partner of many companies in the Washington, D.C., Baltimore, and Annapolis areas since 1990 and offer:

• 24/7 Managed Services for Business Computing Systems

• Network and Mobile Computing Support

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For affordable client-focused network consulting services and solutions, please call Alpha today at (410) 295-9500.