2021 was an interesting and nerve-racking year for cybersecurity experts. In the previous year, organizations have been slow to keep up with the constantly evolving demands of cybersecurity. The dramatic rise in ransomware and other cyberattacks in 2021 has placed an even greater need and emphasis on cybersecurity. Among many of the initiatives taken by the US Government, the FBI and other governmental entities have given greater awareness to focus on security to fend off cyberattacks. Keeping that in mind, the future of cybersecurity in 2022 is bright, but it will have its own difficulties.
Supply Chain Attacks Will Be Commonplace
Last year we witnessed a boost in the number of cyberattacks targeting software supply chains. These attacks are incredibly effective considering they can disrupt an entire organization’s software supply chain and services, causing a considerable loss in business.
Cybercriminals have realized supply chain attacks are a fantastic way to cause severe damage to an organization and will continue to leverage these attacks for monetary gain. It is anticipated that 2022 will see an increase in these types of cyberattacks.
Bots that impersonate humans are an enormous threat to customer-facing systems. These kinds of automated cyberattacks often lead to credential harvesting, account fraud, account takeovers, and reselling. For example, sneaker bots are notorious for buying up a large amount of limited inventory of a top-selling product and then reselling them at exorbitant prices.
Traditional security methods no longer have any real effect when confronting malicious bots. Scammers have learned how to bypass them easily and consistently. Machine learning and artificial intelligence are needed to differentiate between humans and bots. These new methods hunt bots by analyzing factors such as how hard a customer clicks on a touchscreen, how a user navigates an app or website, and how fast a user types, among other techniques.
Rise of Digital Wallets
Digital wallets have become a widely used method for users to store verified information about themselves on their smartphones. Their official identity is present in government-issued IDs that people save in available digital wallets provided by Google and Apple. Digital Wallets have their pros and cons. On the pro side, they can minimize identity theft and fraud, reduce the cost for companies that develop physical methods of authentication, and confirm the identity of a customer in financial transactions or other businesses.
Considering the cons, a user can be at risk if they misplace or lose their smartphone/device, or if the battery is depleted, the device is of no use during the transaction. Also, any online verification that requires connectivity will fail if there’s no Wi-Fi or cellular connectivity available.
More focus on Zero Trust Authorization
To ensure only trusted employees and authority have access to sensitive data, verification and authentication will need to shift to Zero Trust authorization. Recently, the Biden Administration mandated Zero Trust for government organizations. Soon we are likely to see private companies also follow the trend and ensure certain cybersecurity measures for businesses to run smoothly.
User Experience to Fluctuate
With regular cybersecurity changes, the user experience must be considered along with anything else. Customers do not care about the technicalities that occur behind their online requirements. All they want is a seamless online experience to easily access their accounts and make purchases online. Consumers will leave companies that do not offer a faultless online experience for companies that offer an online experience like no other.
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