Ransomware activity over 2021 reached new heights as key infrastructures were hit in several high-profile cases. Analysts from Check Point Research (CPR) have predicted supply chain cyberattacks with larger ransom demands in the coming year.

CPR, a leading provider of cyber security solutions to corporate enterprises and governments globally, made several key predictions for 2022 in its report.

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“In 2021, cybercriminals adapted their attack strategy to exploit vaccination mandates, elections and the shift to hybrid working, to target organisations’ supply chains and networks to achieve maximum disruption,” said Maya Horowitz, VP Research at Check Point Software.

Deepfakes will prove to be a huge issue as technology advances enough to create believable audio and video that can be easily weaponised to spread targeted content for misinformation and to even target stock prices.

Hackers will soon attempt to infiltrate more cryptocurrencies by taking over wallets using new exploits in a rapidly-developing technology. “When money becomes purely software, the cybersecurity needed to protect against hackers stealing and manipulating Bitcoins and altcoins is sure to change in unexpected ways,” the report stated.

“Throughout 2021, misinformation was spread about the COVID-19 pandemic and vaccination information. In 2022, cyber groups will continue to leverage fake news campaigns to execute various phishing attacks and scams,” CPR added.

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Digital payment platforms, mobile wallets and unified payment systems (UPI) have become commonplace for the smartphone-centric individual. The ubiquity of such devices and apps will only help cybercriminals prey on unsuspecting people who use those platforms.

Seeing the success of ransomware attacks on supply chain organisations, many cybercriminals will focus on targeting such companies. In response, governments will begin to rapidly mobilise response networks to counter, address and protect their national infrastructure from such attacks.

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“The sophistication and scale of cyberattacks will continue to break records and we can expect a huge increase in the number of ransomware and mobile attacks. Looking ahead, organisations should remain aware of the risks and ensure that they have the appropriate solutions in place to prevent, without disrupting the normal business flow, the majority of attacks, including the most advanced ones. To stay ahead of threats, organisations must be proactive and leave no part of their attack surface unprotected or unmonitored, or they risk becoming the next victim of sophisticated, targeted attacks,” Horowitz added.

(Edited by : Shoma Bhattacharjee)