The COVID-19 pandemic created a business environment unlike any other, with shuttered businesses for some operations such as restaurants and gyms and a boom for others like grocery stores and delivery services. Unfortunately, cybercriminals also experienced a boom. As the disruption from the pandemic slowly wanes and the new year approaches, companies wonder what the future of cybersecurity holds.
Ron Pelletier, Founder and Chief Customer Officer at Pondurance, shares his top 10 cybersecurity insights and predictions for 2022 in The Security Ledger Spotlight podcast with host Paul Roberts. As a sneak peek, here are three of Ron’s predictions:
Natural disasters will increase cyber risk.
Cybercriminals are always looking for ways to increase their chances for a successful attack. Natural disasters provide the perfect opportunity for them to attack while the target is distracted.
“If you have the natural distraction that a kinetic event like an earthquake, a flood, a fire might offer, you’re going to see the bad actors swoop in to try to take advantage of and exploit people or systems when their guard is down or when they’re looking the other way,” says Ron.
Cyber insurance will be hard to get
When insurers first offered cyber insurance, the potential payout was much smaller. With the emergence of ransomware, the cost of claims escalated in ways the insurers didn’t expect. Many insurance companies have been stung by cybersecurity claims, so they are now more discerning about the companies they choose to insure.
“If you’re not doing at least some of the minimum due diligence or some of the minimum viable requirements, then [insurance companies] are no longer going to underwrite you or are going to make it so expensive that you may not be able to afford it anyway,” says Ron. He also discusses the trend in Europe to exclude cyber insurance from a policy.
Humans will matter more than ever
Cybercriminals are human adversaries, so companies need to combat them with humans. If companies rely on technology alone, the cybercriminals will circumvent the technology to get the results they want. Ron explains the importance of using human intuition and capabilities along with technology, such as artificial intelligence and machine learning, to defend against cyberattackers.
“As we build taller walls, they’re going to get taller ladders,” says Ron. “As we put wire above the walls, they’re going to get an even taller ladder or they’re going to start tunneling underground.” Ron believes we are going to see more ingenuity from attackers in 2022.
What other trends does Ron predict for cybersecurity in the new year? Will employees continue working from home? Will the Cybersecurity Maturity Model Certification expand to more organizations? Will governments crack down on cybercrime? Will nation-state attackers crank up the use of disinformation? Get more cybersecurity insights in the podcast.
Learn about all of Ron’s Top 10 predictions in this podcast.