Bracing for the Inevitable: 5 Security Predictions for 2022

In the past year, we’ve already seen ransomware gangs morph into savvy businesses with sophisticated organizational structures, with one going so far as to create a fake company to recruit talent. In 2022, we’ll see this trend continue to pick up steam, with greater coordination between gangs, double extortion evolving to triple extortion and short selling schemes skyrocketing.

While many companies hit with ransomware opt to pay up to quickly resolve the situation and get back to business, they’ll find themselves paying in other ways when it comes to the court of public opinion. Consumer trust of organizations that pay the ransom will continue to erode and lawsuits will abound as organizations are thrown under the bus for not doing enough to prevent data exfiltration.

From the recent cyber incident knocking dairy giant Schreiber Foods offline to the attack on meat giant JBS, the threat to our food supply chain is dire looking ahead to 2022. As cyber adversaries continue to focus on making the biggest impact by affecting the most people, the food and agriculture industries will remain an attractive target, with a successful attack crippling our food supply likely in the coming year.

With mandatory reporting now in place and a move toward it becoming illegal to pay out ransoms, cyber insurance providers will need to rethink their business models and will likely partner with security vendors to build a more lucrative sales model.