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    2 views2 pages

    Why Cyber - Security Needs

    Uploaded by

    ANIK DUTTA

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    <html>

    <head>
    <title>RGJ Web Solution | Blog-post</title>
    </head>
    <body>
    #### Why Cyber Security needs to be a priority for your business in 2022 ####
    With the increasing volume and complexity of attacks, businesses can no longer turn
    a blind eye to cyber security. Here's why your business needs a cyber security
    strategy in 2022.

    <b>
    Written By :<a href="https://in.linkedin.com/in/debajyoti-haldar/"
    target="_blank">Debajyoti Haldar </a>
    </b>

    <div>6 min read</div>

    The need for businesses to adopt a cyber security focus has progressively presented
    itself over the past decade. Cyber attacks have become increasingly complex and
    widespread, and are following this pattern through to 2022 with new attack styles,
    tools, and volume. We have reached a point where companies cannot turn a blind eye
    - for the safety of business data and financial standing.

    Worldwide, the cyber security industry value is estimated to reach 345.4 billion
    USD (equating to around 253.2 billion GBP) by 2026. There is estimated to be a
    workforce skills gap leaving millions of unfilled jobs by 2022. This pending divide
    in the workforce required and skilled professionals showcases how important it is
    to start investing soon. Companies should be formulating cyber security strategies
    now to ensure they are actioned priorities in 2022.

    ###How cyber attacks evolved in 2021

    2021 saw an increase in cyber attacks - in frequency, sophistication, and how


    widespread attacks became. The sectors most affected by cybercrime were healthcare,
    information technology, financial services, and energy - with both small and large
    businesses targeted.

    There was a vast increase in attackers finding and weaponising zero-day/N-day


    attacks. This refers to hackers utilising recently discovered security
    vulnerabilities to exploit systems; in the form of software, hardware, or firmware
    unknown to the party responsible for fixing flaws. 2021 broke the record for the
    most zero-day attacks, as more tools and targets became available to hackers.
    Companies experienced a surge in ransomware attacks over the year - with hackers
    compromising third-party organisations to gain initial access.

    The boom in home-working and the need for technology throughout the pandemic
    greatly contributed to the evolution of cyber attacks. Attackers became more
    advanced, and target pools widened with the changes in work culture. The workforce
    gap and lack of cyber security training have created an environment experiencing
    rapid attacks, with a vast shortage of skilled professionals to combat this.

    The year's notable headline attacks include Acer, who experienced a ransomware
    attack demanding 50 million USD, approximately 36.6 million GBP. Hackers shared
    images of stolen files comprising financial statements and bank documents as
    security breach proof, consequently forming the data leak. It has not yet been
    reported if Acer paid the ransom. Kia Motors were hit with a similar attack
    demanding 20 million USD (14.6 million GBP.) Kia stated that the subsequent IT
    outage affected mobile UVO link apps, payment systems, portal services, and
    internal Kia sites.

    ###What will cyber attacks look like in the future?

    Hackers are experiencing exponential returns from attacking companies across the
    globe, so attacks will continue to rise in frequency, complexity, and ruthlessness.
    Whilst companies get to grips with remote security best practices and educating
    teams in order to omit human error, vulnerabilities across systems, networks, and
    people will be exploited.

    With the move to remote work, organisations are adapting their technology stacks
    from using off-the-shelf enterprise software to VPNs, and migrating workloads to
    cloud environments. Attackers will adapt techniques to attack cloud native
    technologies, to achieve initial footholds within enterprise networks. Since off-
    the-shelf enterprise software is used across multiple organisations, attackers see
    huge potential returns performing supply chain attacks against this software.

    ###Making cyber security a priority for your business

    Cyber attacks are an increasingly prominent issue, yet a huge proportion of


    companies are still not taking appropriate security measures. To stay ahead of this
    cyber crime evolution, a cyber security workforce should be incorporated into
    companies’ structures; regularly trained to evolve with the fluidity of the
    industry.

    Whilst this can seem an expensive area of investment, the cost of not doing so can
    entirely hinder your company, with a much more significant impact than the cost of
    hiring a team to prevent such outcomes. We recently explored the reason businesses
    are investing in cyber security, noting that the cost of not investing can lead to
    issues with EU-GDPR, customer trust, data, and disaster recovery. These components
    will cost your company more money than the investment in teams, training, and
    security best practices.

    </body>
    </html>

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