Phishing and ransomware will still be the predominant cyberattack modalities in Latin America in 2022, however, the attack methods will be increasingly sophisticated, with cybercriminals exploiting vulnerabilities in hybrid environments and on IoT devices. These are some of the trends that will be observed this year in the fraud landscape, according to experts at Appgate, a multinational specializing in secure access and cybersecurity.
“Each year, as we make our predictions, we realize that one thing remains the same: where there is an action, there is a reaction on the part of the scammer. Criminals are constantly evaluating different methods and circumstances to create new, extremely massive and sometimes very sophisticated attacks, so it is important that organizations look for new security techniques and prepare in advance”, warns Marcos Tabajara, Sales Director at Brazil Appgate.
Here are the top six cyberattack trends for 2022 according to Appgate experts:
Frauds by third-party P2P payment systems: this is a persistent problem for financial institutions, most of which have limited visibility in this area and cannot provide the same level of monitoring for P2P payment systems that often use single sign-on (SSO). This means institutions do not have visibility into third-party P2P transactions before they are processed, and this will be the leading cause of payment fraud this year.
More phishing attacks: this attack vector remains particularly effective, providing cybercriminals with a highly cost-effective and easy-to-implement method. We are likely to see an increase in phishing attacks related to cryptocurrencies and non-fungible tokens (NFTs). Additionally, ongoing pandemic conditions will continue to be a driving force behind spear phishing attacks as attackers test security strategies for users, consumers, and distributed data.
Remote work and hybrid environments as a new reality: remote work is no longer just a perk or benefit for employees. It’s a reality for many organizations, which requires even more cloud and hybrid environments, making attack surfaces more extensive. Organizations must not only protect their gateways, but also those of third parties.
Cryptocurrencies will be a major target of cyber attacks: during the pandemic, people learned to use 100% transactional channels and everything related to cryptocurrencies became “daily bread”. In 2022, we can expect an increase in crypto-related cyberattacks and cybersecurity providers will need to protect themselves against hackers trying to steal and manipulate bitcoins and altcoins.
New ransomware tactics and methods: ransomware will continue its meteoric rise and become more sophisticated. Hackers will use penetration tools to carry out real-time attacks and break into victims’ networks. A new form of ransomware attack could involve the ability to communicate with a target via an IoT device and leverage social engineering to manipulate its behavior.
Greater implementation of passwordless authentication: Account takeover fraud schemes will persist in 2022, prompting many organizations to implement stronger authentication methods that forgo passwords to ensure a more secure user experience.
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