4 Cybersecurity Risks to Expect in 2022

If 2020 and 2021 were the years of the pandemic, 2022 might just be the year of the 'cyberdemic' - at least, according to the latest data breach report by Experian.

The rise of cybercrime in 2021 shows no signs of dropping this year, especially with more and more of our lives becoming so intertwined with the internet. As society begins to lean on digitization more heavily than before, we're risking increased exposure to cybercrime in all areas of our lives, both personal and professional.

Pretty soon, nothing will be 'off the grid.' So, institutions and individuals must beware of phishing attempts, malware, ransomware, and other forms of cyberattacks.

Who should watch out for cyberattacks?

In 2022? Everyone. Whether you own a business or not, whether your business is big or small, whether you're into eCommerce or not, cybercrime leaves no stone unturned.

• Remote working puts employers and employees at risk of social engineering, malware, and phishing attacks, as more people use their home computer systems to access company data.

• Criminals can easily impersonate vendors, especially for high-demand products, increasing the likelihood of scams and theft.

• You know all those ads you've been seeing for sports-related gambling? Online gambling is a lucrative playing field for cybercriminals - many gambling platforms may find the odds stacked against their favor and fall prey to malware or phishing scams.

• Perceived value is all the rage right now, enticing new investors through stocks, NFTs, and bitcoin. But, thieves rush in where value gathers - these digital assets profoundly increase a company's vulnerabilities.

Overwhelmed? Don't be. Those facts simply illustrate how cyber risk is now a part of life; a sort of necessary evil.

Moving forward in a hybrid world

The world is starting to recognize the need for better control over criminal activity in the online realm. As a result, 75% of the global population will soon be covered by privacy laws protecting their personal information.

It's no longer enough to just catch up to the new norm. Instead, businesses and individuals must actively improve and add to their cyber security emergency kit/arsenal.

If you don't know where to start, consider buying cyber insurance for personal or commercial purposes. Cyber insurance has become a booming industry over the past year, as more institutions recognize the need for liquid protection on hand. Before those premiums skyrocket, Carriage Trade can help you get the right cyber insurance policy for your needs.

Talk to a professional at Carriage Trade Insurance today and protect against cyber attacks. We will learn more about your company's unique risk make-up.