What Businesses Need to Know About Cybersecurity in 2022

Business Leaders are Now Part of the Conversation

An estimated 48% of the board are involved in cybersecurity strategy discussions, showing the line between business and cybersecurity is blurring. Business leaders are recognizing that they must have an understanding of risk and a working knowledge of their organization’s level of cybersecurity and compliance preparedness.

Business leaders must have a working knowledge of the current protections in place, as well as their business’s cyber insurance liability coverage to determine if it is sufficient. To that end, decision-makers need a clear understanding of a company’s cybersecurity posture as it relates to trends and new and developing threats.

As the year progresses, we have noticed a rise of a variety of cybersecurity trends, threats, and other concerns. In this article, we will uncover the three most prominent threats for 2022, as well as how businesses can combat these concerns.

Top Cybersecurity Concerns in 2022

Remote Workforce

As offices gradually re-open their doors, employees are pushing to continue with a work from home or hybrid work model. While businesses want to adapt to employee needs, having a remote workforce carries a variety of security concerns as well.

Increase in Cyberattacks

Today, there is a new attack somewhere on the internet every 39 seconds. These attacks can be extremely harmful to a business, costing millions or even billions of dollars in remediation.

Lack of Resources and Tools

The Great Reshuffle has further depleted already stretched cybersecurity resources, bringing on a lack of modern security tools or no in-house security experts or bandwidth to support these processes.

What We Recommend

1. Adopt a Zero Trust Strategy
   Putting in place a Zero Trust strategy means shifting toward an extensive security model that will allow for businesses to restrict access to the company’s valuable apps, data, and environment. This would be done in a manner that does not threaten employee performance or user experience.
   
   
2. Secure Your Remote Workforce
   Implement a Data Loss Prevention software to monitor, detect and respond to potential data breaches while Endpoint Protection should be put in place to protect your business’s network from threats coming from employee or client devices.
   
   
3. Protect Against Cyberattacks
   Multi-Factor Authentication (MFA) is a must-have for cybersecurity. MFA allows your organization to only grant electronic access to websites or applications only after providing two or more pieces of evidence to prove your identity. Security awareness training for employees is also essential as it will ensure employees are consistently up to date and up to speed on any relevant or important cybersecurity motions, such as making sure all employees are using security best practices via email.
   
   
4. Address Any Lack of Resources or Tools
   If your organization is struggling finding the tools or resources for developing or managing your security strategy, consider developing an ongoing managed security strategy & operationalize it. However, avoid just “setting and forgetting”. A secure strategy needs to be updated and adjusted as time goes on. To make sure of this, consider partnering with a security specialist.

Written by Steve Combs. Copyright © 2022 BDO USA, LLP. All rights reserved. www.bdo.com