The Most Relevant Cybersecurity Trends And Statistics In 2022

What Is Cybersecurity ?

Before we dive in and learn about cyber security statistics, let’s refresh and review. What Exactly is Cyber Security ?

Cyber security is the practice of protecting computer networks and systems from unauthorized access or theft. It includes the prevention of data breaches, viruses, and other cyber attacks. Cyber security is a growing concern for businesses and individuals alike, as the number of cyber attacks continues to rise. The U.S. federal government alone has suffered over 500,000 data breaches since 2005, with over 18 million records lost or stolen in that time. These breaches can be costly, with some companies paying over $350 per record in order to reimburse their customers. As a result, almost every industry relies upon cyber security measures.

The National Institute of Standards and Technology has outlined a framework that brings structure to the field and provides useful models/rules/guidelines to follow. The standard is called the NIST Cyber Security Framework, and it is a voluntary set of standards for business and government agencies to implement to help mitigate risks to their cyber security.

It’s important to know that cyber security is not one-size-fits-all. Every business and government agency must assess their own vulnerabilities and adapt to meet their needs.

Cybersecurity or Cyber Security ?

One of the questions we hear the most is, Is it Cybersecurity or Cyber Security ?

Although it seems a little confusing, it couldn’t be more simple. It all comes down to where you’re from.

American grammar coins it as Cybersecurity, which is the body of technologies, practices, and processes designed to protect computers, programs, networks and data from damage, attacks or unauthorized access. In the context of computing, the term security implies cybersecurity.

However, British grammar defines it as Cyber Security, the techniques of protecting computers , networks programs and data from unauthorized access or attacks that are aimed at exploitation.

Common Cyber Threats in 2022 and How to Protect Yourself

When it comes to cyber threats, there are many to be aware of. Here are some of the most common cyber attacks and best practices on how to avoid them.

Malware: This is a type of software that is designed to damage or disable computers. It can be spread through email attachments, infected websites, or even USB drives.

Phishing: This is a type of online scam where criminals pose as legitimate businesses or individuals in order to trick people into giving them personal information or money.

Denial of Service (DoS) Attacks:This type of attack is designed to make a website or online service unavailable by flooding it with traffic from multiple computers.

SQL Injection: This is a type of attack that exploits vulnerabilities in websites or applications that use SQL databases. It can be used to steal data or take control of the database.

Password Attacks: This type of attack involves trying to guess or brute force a password in order to gain access to an account.

Cryptojacking: This is a type of malicious activity where criminals use your computer to mine cryptocurrency without your knowledge or permission.

Ransomware: This is a type of malware that encrypts your files and demands a ransom in order to decrypt them. Social Engineering: This is a type of attack where criminals use psychological manipulation to trick people into giving them sensitive information or access to systems.

Here Are Some Ways To Protect Yourself From Cyber Threats:

• Install and update security software. This is the first and most important line of defense against malware and other threats. Make sure you have a good antivirus program installed, and keep it up to date.

• Keep your operating system and other software up to date. Hackers often exploit security vulnerabilities that have been fixed in the latest updates. By keeping your software up to date, you can close these vulnerabilities and make it more difficult for hackers to gain access to your system.

• Use a firewall. A firewall can help to block malicious traffic and prevent hackers from gaining access to your system.

• Be cautious when opening email attachments. Email attachments are a common way for malware to spread. If you receive an email attachment from an unknown sender, or if the attachment seems suspicious, do not open it.

• Be careful what you download. Downloading files from the internet can also be a way for malware to end up on your computer. Only download files from trusted sources, and be sure to scan any downloaded files with your security software before opening them.

• Use strong passwords. Using strong, unique passwords for your online accounts can help to protect them from being hacked. Avoid using easily guessed words or phrases, and consider using a password manager to help you keep track of your passwords.

Important 2022 Cyber Security Statistics

Cybersecurity is a growing concern. The rate of new threats, and the methods of responding to those threats, is increasing exponentially. As new technologies are developed, criminals quickly find a way to exploit them. We’re seeing more data breaches than ever before and more cybercrime statistics than ever before.

But what are the top cybersecurity statistics for 2022? What are the most important security issues facing businesses today?

Here are some of the most significant cybersecurity trends that you need to know about from this year:

In 2021, cybercrime cost US businesses more than $6.9 billion, and just 43% of organizations believe they are financially equipped to confront a cyber-attack in 2022.(Forbes, 2022)

The FBI is warning individuals employed in the healthcare industry of ongoing widespread fraud schemes in which scammers impersonate law enforcement or government officials in attempts to extort money or steal personally identifiable information. (FBI, 2022)

A Hacker managed to gain access to a Florida city’s water supply, he attempted to poison the supply by upping chemical levels in the treatment plant to dangerous levels. Luckily, he was detected in time, before any devastating damage was done. (WIRED, 2021)

Ransomware criminals are targeting firms involved in important, time-sensitive financial events in order to incentivize victims to pay the ransom.(CISA, 2021)

Former Eagle Rock T-Mobile Retail Store Owner Found Guilty of $25 Million Illegal Cellphone Unlocking Scheme (Justice, 2022)

Hackers gained access to Colonial Pipeline’s computer systems. Colonial Pipeline previously had said it paid the hackers nearly $5 million in Bitcoin to regain access.(Reuters, 2021)

According to Cybersecurity Ventures, worldwide cybercrime expenses would increase by 15% each year over the next five years, reaching $10.5 trillion USD annually by 2025, up from $3 trillion USD in 2015. (Cybersecurity Ventures, 2020)

Threat actors, known as MuddyWater, conducting cyber espionage and other malicious cyber operations targeting a range of government and private-sector organizations across sectors—including telecommunications, defense, local government, and oil and natural gas—in Asia, Africa, Europe, and North America.(CISA, 2022)

Organized cybercrime entities are joining forces, and their likelihood of detection and prosecution is estimated to be as low as 0.05 percent in the U.S.(World Economic Forum, 2022)

The Human Element was implicated in 82% of breaches, including Social Attacks, Errors, and Misuse. Ransomware breaches increased by 13%, more than in the past 5 years combined. Threat actors compromising partners were engaged in 62% of events in the System Intrusion pattern. (Verizon Data Breach Report, 2022)

It is estimated that an organization suffered a ransomware attack every 11 seconds in 2021, according to Cybersecurity Ventures, and it is expected there will be a new attack on a consumer or business every two seconds by 2031.

According to recent Eurocontrol data, airlines are increasingly becoming targets for cyber attacks. In 2020, commercial airlines accounted for 61% of all detected (Aviation Today, 2021)

Malicious cyber actors are targeting educational institutions from kindergarten to twelfth grade (K-12), resulting in phishing attacks, ransomware attacks, data theft, and interruption of distant learning programs. Cyber actors are likely to see schools as potential targets, and these sorts of attacks are predicted to increase in the following academic years. (CISA, 2020)

Statistically, some of the largest and most devastating cyber epidemics occur every six to seven years. Kaspersky researchers estimate the next attack will most likely occur in 2023. One possible reason for such an event is that the most skilled threat actors in the world are likely to have at least one suitable exploit, and current global tensions considerably raise the possibility of a ShadowBrokers-style hack-and-leak.(Kaspersky, 2022)

Internet users worldwide saw nearly 15 million data breaches in the third quarter of 2022, a 167 percent increase over the previous quarter. The biggest number of data breaches were found in the monitored time, approximately 125 million incidents, in the fourth quarter of 2020. (Statista, 2022)

With 43% of online attacks increasingly targeting small companies, a popular target of cybercriminals, only 14% are equipped to defend themselves. Cyberattacks now cost businesses an average of $200,000, forcing many to close down.(CNBC, 2020)

In 2004, the President of the United States and congress declared October to be Cybersecurity Awareness Month. The purpose of Cybersecurity Awareness Month is to shine a light on the topic and allow individuals to protect themselves and their interests online as threats to technology and sensitive data become more and more common. The collaborative effort between government and industry to raise awareness on cybersecurity is led by the Cybersecurity and Infrastructure Security Agency, and the National Cybersecurity Alliance.

Since then, interest in cyber security-related topics has been skyrocketing. There are many reasons for this growth in cyber security. As time passes and more people, organizations, and devices interact with each other over the internet, the chances of security issues occurring increases.

Since 2014, the rate of businesses and organizations being targeted has increased by over 30%. This is due to the rapidly expanding and evolving digital environment.

Cyber criminal’s methods differ depending on the industry they target, their motive may be different but the end goal is the same.

Which means that strategies for tackling them must be different. Some criminals are motivated by greed, and others are motivated by spite. The main thing to remember is that there is no typical criminal. Computer criminals can be motivated by money, reputation, or politics. Each group has a different strategy.

The Importance of Cyber Insurance

With the ever-growing risk surrounding cybersecurity and cyber-crime, the best thing a business or organization can do is make sure to act proactively and have prevention methods in place such as the ones mentioned above.

Although the tips mentioned above may seem very simple, they make a big difference and help keep you safe when navigating the internet and its applications on a daily basis.

But sadly, as much as we want to prevent disasters from occurring, things just happen. So if everything else goes wrong you must make sure you have a good cyber insurance policy put together.

What Is Cyber Insurance ? How Does Cyber Insurance Work ?

Cyber insurance helps protect businesses from financial losses that can result from cybercrime. This can include things like covering the cost of lost business income if a business has to shut down due to a cyber-incident, as well as, data breaches, legal fees, hacking, and other cyber-related incidents.

Cyber insurance is becoming increasingly important as the number of cyberattacks grows. According to reports, By year end 2022, it is expected that six billion phishing attacks will have been launched.. This means that businesses need to be prepared for the possibility of a cyberattack, and one way to do this is to have cyber insurance.

There are a few things to keep in mind when shopping for cyber insurance.

First and foremost, you’ll want to make sure that you’re covered for the types of risks that are most relevant to your business. This may include things like data breaches, cyber attacks, and other online threats.

It’s also important to consider the financial impact of a cyber incident. This includes the cost of repairing any damage that’s been done, as well as any lost revenue. You’ll want to make sure that your policy covers you for these costs.

Finally, you’ll want to make sure that you understand the terms of your policy. This includes things like the deductible, the limits of coverage, and any exclusions. By understanding your policy, you’ll be able to make sure that you’re properly protected in the event of a cyber incident.

Infradapt specializes in helping small businesses and organizations navigate the complicated policies and compliance required to improve their cybersecurity and overall business safety.

We would love the opportunity to help you out!

To schedule your free consultation, please click here to call email us at contact@infradapt.com. We look forward to hearing from you!