For example, the US has announced export controls on eight Chinese quantum computing companies because of worries about China's ability to break encryption. While this technology is still far from any practical application, concern is growing.
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Most cryptographic algorithms today rely on the premise that there’s no processor sufficiently powerful to crack them in a reasonable timeframe – but quantum computing will allow such a processor to exist. Quantum computing will begin to disrupt encryption. Accordingly, managed service providers (MSPs) will need to increase both the breadth and depth of their security measures, since many SMEs rely on them in their security.Ĥ. Attackers have seized on a very effective strategy for getting access to large organisations – through the relatively weaker IT infrastructures of SMEs that provide them with services. More attacks will target MSPs as a path to infiltrate large enterprises or government agencies. With attacks becoming increasingly common, insurance companies will pay in exceptional cases only.ģ. Moreover, insurance policies will require implementation of critical controls that reduce the risk of cyber security incidents.
With insurance payouts becoming both more frequent and more costly, the cost of cyber insurance has already skyrocketed: prices rose 96% in the US and 73% in the UK for the third quarter of 2021 compared to the same quarter last year. Cyber insurance costs will increase and policies will mandate higher security standards. In some cases, governments may opt to use proverbial carrots as well as sticks, such as tax breaks that reward organisations for investing in cyber defences.Ģ. In particular, notification rules will be affected, as governments need more visibility into the specifics of cyber attacks in order to improve legislation. Therefore, we can expect that security requirements for private organisations in critical sectors will become tougher.
For instance, attacks on companies that supply food or fuel have led to empty shelves in supermarkets and long queues at gas stations. The impact of ransomware and other cyber attacks is no longer limited to just the victim company anymore attacks are now affecting entire regions. Legislation will increase as security incidents at private companies affect national security. Here are six specific predictions from Ilia Sotnikov, cyber security expert and VP of User Experience & Security Strategist at Netwrix:ġ. With cyber attacks – especially ransomware – on the rise, IT teams and security professionals must be on the alert as never before. Netwrix, a cyber security vendor that makes data security easy, today released key cyber security trends that will affect organisations in 2022.
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