Some of the top cybersecurity predictions for 2022 from Palo Alto Network include an increase in cryptocurrency-related scams, more data breaches, and more frequent identity thefts and frauds.

The impact of ransomware attacks is expected to reach unprecedented proportions by 2021, according to the cyber security firm Palo Alto Networks. These attacks will pose a threat to thousands of businesses around the world, as well as their critical infrastructure. This pattern will continue to be observed through the year 2022 as well.

Here's a look at the top cybersecurity predictions from Palo Alto Networks for the year 2022.

The rise of scams, fueled by Bitcoin, is on the rise.
The rise and evolution of the ransomware industry will be fueled by cryptocurrency, particularly Bitcoin, which will result in larger attacks on critical infrastructure, while calls for its regulation will gain traction as a result. According to the company's report, because of the decentralized nature of the network, it will be difficult for regulators to track down the hackers who have compromised it.

Bitcoin is a decentralized currency, which means that it is not governed by any government or organization, as opposed to traditional currencies. The majority of the time, threat actors demand ransomware payments in cryptocurrency because this form of payment ensures that the destination address associated with the ransom demand remains anonymous during the payment process. In contrast to bank accounts, there is no requirement to provide personally identifiable information in order to obtain a crypto wallet.

According to the company, "businesses must concentrate on improving their cybersecurity posture and determining their level of preparedness for an attack, as well as conducting exercises to identify any security weaknesses that must be fixed." Collaboration between cybersecurity providers, cloud providers, and telecommunications providers "will help disrupt successful attacks and impose real costs on attackers," the company stated.

The critical digital infrastructure of countries is in the crosshairs.
The increased use of smart devices will generate massive amounts of digital data, which will more than double by 2022. It should be noted that the greater the amount of data we generate, the more difficult it becomes to store the data in a secure manner.

In order to achieve complete visibility into their security infrastructure, according to Palo Alto Networks, organizations must develop a strategic approach. It is recommended by the company to use a Zero Trust architecture in conjunction with artificial intelligence (AI). In cybersecurity, a zero-trust architecture (ZTA) is a solution that is designed to prevent data breaches while also limiting any internal data leakage.

Cyberattacks on critical infrastructure, containing confidential and valuable data, are on the rise all over the world. These attacks have revealed that the implementation of cybersecurity protocols is significantly slower than the rate of digitalization across countries, as evidenced by the number of attacks.

Due to the fact that hackers are attempting to disrupt critical infrastructure, "we must expedite the implementation of improved global policies and regulatory collaboration." As the company pointed out, "governments and businesses must encourage the development of safeguards against complex threats, particularly those that target critical infrastructure through supply chain gaps."

Phishing will continue to be the most prevalent method of communication.
Phishing emails and frauds might get more sophisticated by the end of the year. In recent years, cybercriminals have shifted their attention away from targeting corporate offices and toward assaulting individual victims.

Businesses will need to expand beyond their corporate networks in order to deal with this new reality. They will need to implement remote work solutions as well as provide unified security policy management to remote personnel. According to a blog post published by the firm, "By bringing together security, networking, and digital experience management, SASE solutions will be important in bringing about both security and operational efficiency."

The number of people who commit identity fraud will increase.
The emergence of open banking and the rapid expansion of Fintech might give hackers with more opportunities to commit identity theft, fraud, and illegal data gathering as a result of bad programming or security misconfigurations.

Palo Alto Networks recommends that extra attention be paid to senior populations, who may be more vulnerable to fraud since they are new users of digital banking services, according to the company.

To combat tomorrow's challenges, stronger leadership commitment, teamwork, and efficient communication will be required, according to the firm. "Governments, businesses, and people must adopt a team-sport mentality in order to approach cybersecurity as a team sport," the company stated.