Okta’s 2022 security predictions

Ben King, the CSO for EMEA & APAC at Okta share’s Okta’s security predictions for 2022.

Organisations jump to better security as ransomware rises

Over the course of the pandemic, ransomware gangs have developed increasingly polished operations that have moved on from being opportunistic, to being as-a-service utilities available to any enterprising criminal. Not only that, but criminals can access these services for very little money. At a lower price, the technology isn’t necessarily sophisticated, but it often doesn’t need to be to reach the desired goal, especially when run at scale.

Organisations have had no choice but to pay attention to this, and we will see leaders move beyond basic security hygiene in 2022. Consumers will expect more organisations to provide them with the option to use phishing resistant multi-authentication. Patching vulnerabilities once they have been disclosed is also important, as well as ensuring that security defences cover cloud and on-premise infrastructure and assets. Going beyond basic security will help organisations see greater engagement from end-users and customers. Increasingly, trust will be at the forefront of how brands market and sell their products and services, and heavily influence how B2B and B2C purchasing decisions are made in a fluid and competitive online marketplace

Zero-trust to grow – particularly with the finance sector

Security issues continued to be a source of anxiety for the financial sector in 2021. In October, The Bank of England surveyed bankers and others in the financial sector, finding that 75% were worried about cyber attacks. Therefore, in 2022, there will be a sustained investment in zero-trust as we continue to see new vulnerabilities and sophisticated malware arise. Mindful of ever growing breaches reported in the media, the industry will come to grips with an ‘assume compromise’ mindset.

Recent history has only shown the pace of change in security to be accelerating, both in terms of attack surface and threat landscape. The affiliates who operate ransomware-as-a-service don’t care who they’re attacking. Some target organisations for multi-million dollar payouts, but others want a few thousand. Anyone can be targeted, and smaller fintechs and SMEs more generally need to be aware that attackers are not just going for the big banks, and large campaigns can have significant collateral damage beyond initial targets

Advantages from a zero-trust transformation are as difficult to quantify as any security transformation, so it can be hard to reflect in a traditional cost-benefit analysis. The benefit is best quantified as reduced risk, as good security will offer fewer major incidents as hard data points, as well as better visibility of the ‘near misses’. This can be proven effective via external audits, red and purple team exercises, as well as driving compliance and regulatory-driven requirements for an organisation. In 2022, the world will still be grappling with vendor compromises and an expected long tail of log4j vulnerability as organisations seek visibility and assurance of supply chain exposure and remediation.

 

Media contact

Rebecca Morpeth Spayne,
Editor, Security Portfolio
Tel: +44 (0) 1622 823 922
Email: [email protected]

About Security Buyer

Security Buyer is the leading authority in global security content, delivering expert news, in-depth articles, exclusive interviews, and industry insights across print, digital, and event platforms. Published 10 times a year, the magazine is a trusted resource for professionals seeking updates and analysis on the latest developments in the security sector.

To submit an article, or for sponsorship opportunities, please contact our team below.

Rebecca Spayne picture 2025

Rebecca Spayne

Managing
EDITOR

Georgina Turner image

Georgina Turner

Sales
Manager

Afua Akoto image - Security Buyer

Afua Akoto

Marketing Manager

Read the Latest Issue

Follow us on X

Follow us on X

Click Here

Follow us on LinkedIn

Follow us on LinkedIn

Click Here

Advertise here

Reach decision makers and amplify your marketing

Advertise here

Click Here

Related News

Dr Ilia Kolochenko, Partner and Cybersecurity Practice Lead, Platt Law LLP

Big Interview: Dr. Ilia Kolochenko, ImmuniWeb

Dr. Ilia Kolochenko, Chief Architect, ImmuniWeb and cybersecurity influencer, talks about the proposed mandatory reporting of ransomware..
Tenable

The Innovator – Tenable

Gavin Millard, Deputy CTO and VP of Market Insights at Tenable talks through one of the biggest security threats to businesses…
Hacker

Cybereason Warns Critical Infrastructure Operators

Cybereason today issued a global Threat Analysis Report investigating the Ragnar Locker ransomware gang and its attacks on networks.

Barracuda releases ransomware research

After identifying and analysing 106 highly publicised ransomware attacks over the past 12 months, Barracuda researchers have found that the education (15%), municipality (12%), healthcare (12%), infrastructure (8%), and financial (6%) sectors are the five most targeted by adversaries.

Cybereason releases global threat report on ransomware

Cybereason today issued a global threat report warning global organizations about a rise in ransomware attacks using the Bumblebee loader.

Cybereason releases global threat report on ransomware

Cybereason today issued a global threat report warning global organizations about a rise in ransomware attacks using the Bumblebee loader.

Zero Trust adoption has seen a rise of 500%

Zero Trust has quickly progressed from a buzzword to a critical business imperative, Okta’s State of Zero Trust Security Report has found.

Q2/2022 Threat Report: Ransomware on the Rise

Avast released its Q2/2022 Threat Report today, revealing a significant increase in global ransomware attacks.
ransomware attacks

Cybereason warns against ransomware attacks from Black Basta gang

Cybereason warns against ransomware attacks from Black Basta gang. Cybereason, the XDR company, has issued a global threat alert
malware

Peer Software will monitor malware patterns

Peer Software today announced the formation of a strategic alliance with Pulsar Security to continuously analyse malware attack patterns.
Scroll to Top