2022 was a tumultuous year for cybersecurity. This year proved yet again, that no industry is safe from cybercriminals. While the education and healthcare sectors were hit the hardest, every major industry experienced its fair share of breaches and attacks. As organizations scrambled to protect their systems from cyberattacks, new trends emerged that made it more difficult than ever before to ensure data security. Let’s look at what happened over the last year and how it affected cybersecurity measures.
Emergence of New Attack Vectors Made It Harder to Protect Against Cyberthreats:
In addition to traditional cyber threats such as ransomware and malware infections, new attack vectors began emerging in 2022 which made it even harder for organizations to protect against cyberattacks. For example, AI-powered phishing campaigns became increasingly common as attackers used natural language processing algorithms to craft personalized messages that target specific individuals within an organization with convincing scams tailored toward their interests or job roles. These campaigns proved extremely efficient at bypassing traditional spam filters while also making it seem like the emails came from trusted sources instead of malicious actors. Understanding this, we’ll now take a look at the impact on several prominent industries.
Education:
The education sector was particularly vulnerable to cyber-attacks in 2022, mostly being ransomware. Schools and universities were targeted due to the amount of sensitive data they collect, store, and share. In addition, many institutions had outdated systems that did not have adequate security protocols in place or had weak passwords that could easily be guessed. As a result of these attacks, many students were unable to access course materials or submit assignments. This caused significant disruption to the learning process as well as financial losses for universities due to fines associated with data breaches.
Notable Attacks:
- Los Angeles Unified School District
- 500GB of Data Stolen
- New York School District
- 820,000 students impacted
Healthcare:
The healthcare sector was not far behind the education sector when it came to cyberattacks in 2022. Healthcare organizations are highly attractive targets due to their access and storage of a variety of valuable data, bringing with it considerable rewards for criminals in more ways than one. With this information comes great responsibility—as well as potential risks—for organizations who do not have proper security protocols in place. In addition, many healthcare providers still use outdated systems which can make them more vulnerable to cyberattacks such as ransomware or malware infections.
Ransoms can be extorted as well as financial fraud committed through reselling ill-gotten personal information – making such info akin to digital gold dust. In response, hackers have redoubled efforts towards identifying any security vulnerabilities which exist within healthcare networks’ infrastructures.
Notable attacks:
- Baptist Health System of Texas
- 2 million medical center patients impacted
- CommonSpirit Health Breach
- 142 hospitals and over 2,200 sites of care within 21 states impacted
Finance:
This past year, there has been a dramatic increase the average cost per breach of financial institutions, now totaling $5.72 million. Financial organizations are particularly vulnerable to cyberattacks because they house large amounts of customer information such as banking details and credit card numbers. If these types of data were to be compromised, it could have devastating effects not only on the organization itself but also on its customers—not to mention any regulatory fines that might be imposed if appropriate measures are not taken. Additionally, financial institutions may become targets for sophisticated ransomware attacks that can bring entire systems down for extended periods of time and cause significant losses in revenue.
Notable Attacks:
- Block (formerly Square) Breach
- 2 million employees impacted
- Flagstar Bank
- 5 million users impacted
Agriculture:
These days, it can be tempting to think that the agricultural industry is exempt from cybersecurity risks. After all, many operations are still largely manual labor-based and have traditionally relied on pen and paper for keeping records. However, with the growth of technology in agriculture—from labeling to shipping, quality assurance to commodity trading—there is an increasing need for secure data management. As a result, agribusinesses are vulnerable to cybercrime, leaving critical operations at risk.
The FBI recently released a statement warning of cyber threats against the agricultural industry and their potential impact on businesses and consumers alike. They noted that attacks on ag could slow down processing and interrupt email and website administration. Moreover, these attacks can create various supply chain problems as well as issues with commodity trading and stock prices. It’s important to note that these threats don’t just affect business operations; they can also have serious consequences for farmers. For example, if a protein or dairy facility were targeted by malicious actors, it could lead to spoiled products which would then have cascading effects all the way down to individual farms due to animals unable to be processed. As such, it’s essential for agribusinesses of all sizes to have robust security protocols in place so as not to become a target for hackers or other cyber criminals.
Retail:
Retail has become one of the main targets for cyber criminals, experiencing more breaches than any other business sector. This rise in retail cybersecurity attacks may be due to a combination of factors, including access to customer data, similar cybersecurity infrastructures, and a lack of awareness about social engineering. In this blog post, we will explore how these factors contribute to the higher risk of retail cybersecurity attacks and what organizations can do to protect themselves. Retailers often have access to personal identifying information (PII) such as names, addresses, phone numbers, credit card numbers, and Social Security numbers. This data is incredibly valuable for hackers who want to use it for identity theft or financial fraud. Therefore, retailers must ensure that they are taking steps to protect customer data from being stolen or compromised by malicious actors.
Another factor that contributes to the increased risk of retail cybersecurity attacks is the fact that many retailers have similar cybersecurity infrastructures. If an attack method works on one retailer’s system, then it could very well work on another retailer’s as well. This means that attackers can use their knowledge of one retailer’s security vulnerabilities to gain access to another’s with relative ease. As such, retailers must ensure that their systems are properly configured and regularly audited by independent security experts so as not to fall victim to these types of attacks.
Overall, 2021 was a difficult year for cybersecurity with both the education and healthcare sectors experiencing significant disruption due to cyberattacks. Organizations need to take proactive steps now by investing in updated technological solutions and training staff members on best practices when it comes to online safety if they want to avoid further losses from future cyber threats. By taking these steps now, businesses can better protect themselves from malicious actors looking take advantage of vulnerable systems for personal gain or financial gain in years ahead.
