As cybersecurity professionals, staying abreast of potential cyberthreats your organization may face is essential to better prepare and mount a proactive defense. Cybercrime in 2021 has highlighted new trends with threats and breaches that have intensified the need to improve security strategies and modernize security operations. Last year certainly ended with a bang, as security professionals around the world worked quickly to mitigate issues related to the Log4Shell vulnerability.
When we look back, many of LogRhythm’s cybersecurity predictions for 2021 have actually come true. Amid cybercrime and activity, did you see it all coming? Whether or not things are slowing down in 2022 – and there’s no better time than to show up to bolster your defenses and prepare for what lies ahead.
Below, the security experts and executives at LogRhythm share their predictions on the potential cyber threats you could face in 2022. You can also check out this accompanying infographic for a quick summary or check out our recent Security Predictions webinar which covers many of these key threats and risks in more detail. .
Mark Logan, CEO:
1. The percentage of CISOs reporting directly to CEOs will double and security team budgets will grow by double digits.
Historically, CISOs have struggled to help their organizations achieve the desired security posture because they are not considered as influential as other members of the C-suite. The risk to an organization is magnified due to this lack of management visibility in strategic planning and budgeting. Earlier this year, a report by LogRhythm revealed that only 7% of security officers report to the CEO. On average, cybersecurity leaders report three levels to the CEO, with 66% of CISOs saying they always report to some part of the IT team. Additionally, only 37% say they or someone in their security function reports to the board, while 60% of organizations have experienced a cyberattack in the past two years.
However, after one historic break year after another, the tide is turning. The role of the CISO will undergo rapid transformation as CEOs and boards seek to better understand the risks facing their organizations and how their security programs can protect against those risks.
We anticipate an increase in reporting from CISOs to CEOs that will nearly double in the next year, giving the CSO greater C-level access and greater influence over business decisions.
Additionally, we will see the security team within enterprises grow in stature in 2022, including an increase in demand for security talent that will drive organizations to make substantial new cybersecurity-focused investments to address security issues. security. The increased investment will primarily be used to minimize application security risks and hire talent to validate source code used by enterprises.
James Carder, Chief Security Officer and Vice President of Labs:
2. A leading country in the production of semiconductor chips will have its supply chain compromised, resulting in significant shortages of critical materials.
As we have seen with the pandemic, cybercriminals will take advantage of times of societal disruption to manipulate companies and governments for financial gain. The global chip shortage, which shows no signs of abating as some experts estimate it could last until the end of 2022, is another period of disruption that hackers will soon exploit. As countries seek to increase production, one country will be caught trying to corner the market using fraudulent methods to gain access to production and supply from major chip-producing countries. This will lead to shortages of essential supplies, as well as a spike in commodity prices.
3. A major vaccine manufacturer’s supply chain will be interrupted by ransomware.
In 2021, ransomware attacks crippled Colonial Pipeline and JBS. In 2022, cybercriminals will aim to carry out a ransomware attack against one of the pharmaceutical companies producing the COVID-19 vaccine. This will interrupt the production of critical reminders and prevent many other life-saving drugs from reaching patients. The resulting fallout will fan the flames of foreign and domestic vaccine misinformation campaigns.
4. Cybercriminals will take advantage of API vulnerabilities to breach multiple corporate networks at once.
Cyber attackers commonly use lateral movement techniques to move through an organization’s network after performing the initial breach. We have already seen the Russian-linked REvil ransomware-as-a-service group take advantage of Kaseya’s network management and remote control software to not only move within Kaseya’s network, but also to expand its delivered to its customers. In 2022, we will see hackers looking to improve the concept of lateral movement for internal networks and apply it to an entire partner network using misconfigured APIs, which act as a gateway from the Internet to the business environment.
5. Hackers will blackmail Olympic athletes during the Beijing Olympics.
Hackers will hack the accounts of various athletes and find incriminating email exchanges regarding the use of performance-enhancing drugs and insight into the individual’s personal life. This will result in athletes being blackmailed into helping hackers carry out cyberattacks on their home country or deal with leaking incriminating evidence.
Joanne Wong, Vice President of International Marketing:
6. People, not infrastructure, will be the main threats at the 2022 FIFA World Cup in Qatar.
Qatar has made significant investments in cybersecurity ahead of the 2022 FIFA World Cup. Although local cybersecurity teams are proactively mitigating threats to protect visitors, it is travel to the World Cup and the hospitality industry surrounding the tournament that will make individuals vulnerable.
We anticipate that the organizers will be ready to handle the large attacking surface in the country surrounding the tournament, but what about the individuals before they arrive? Individuals as well as the travel and hospitality industries will need to be aware of these cyber threats.
Phishing and social engineering will be used to steal personal and financial information that criminals can monetize. Ticketing, hotel reservations and reservations of all kinds can be falsified and used to capture personal data and compromise individuals. Cybercriminals will recognize the work done by Qatar to prepare for the tournament and will focus on exploiting human nature before they arrive, rather than digital infrastructure.
Matt Sanders, Director of Security:
7. There will be a successful large-scale attack via open source software.
Malicious actors have repeatedly demonstrated their technological aptitude to infiltrate and compromise organizations. These same skills will increasingly be applied to the open source software ecosystem (which welcomes all contributors), where attackers can intentionally introduce vulnerable code into widely used open source software components. This would allow cybercriminals to exploit vulnerabilities on a large scale, targeting companies that have built products using open source technology without reviewing the code before copying and pasting it into their platforms. Such attacks can be extremely difficult to detect. It is likely that several examples of such attacks are already present in widely used open source software today, which could be found in the coming year.
2022 Security Forecast Webinar
Want to learn more about what lies ahead in the world of cybersecurity from the security experts at LogRhythm? James Carder and Matt Sanders break down all of this information in their 2022 Security Predictions webinar. You can watch this on-demand anytime for a quick recap of the predictions LogRhythm got in 2021, along with a detailed explanation of the top threats you may face in 2022.
The post-2022 cybersecurity forecast appeared first on LogRhythm.
*** This is a syndicated blog from LogRhythm’s Security Bloggers Network written by Kelsey Gast. Read the original post at: https://logrhythm.com/blog/2022-cybersecurity-predictions/