What are the Greatest Cybersecurity Risks for Businesses in 2022

Both the global pandemic and the war between Russia and Ukraine have exposed the vulnerabilities of businesses when it comes to cybersecurity. Cybersecurity risks can come from a variety of sources, ranging from malicious hacking attacks and data breaches to natural disasters and system failures.

As more of our lives have moved online to cope with lockdowns and self-isolation, businesses have become even more vulnerable to cyber attacks. Cyber criminals are taking advantage of this heightened risk by launching increasingly sophisticated attacks aimed at penetrating corporate networks and stealing sensitive data.

2021 saw a record number of data breaches, with over 6 billion records exposed – a nearly 30% increase from the previous year. Cybersecurity experts predict that risks will only continue to grow in 2022, as businesses scramble to shore up their defenses and protect sensitive information.

Here’s a look at some of the greatest cybersecurity risks businesses will face in 2022:


Ransomware is a type of malware that encrypts a victim’s files and demands a ransom payment in order to regain access to them. This type of attack has become increasingly common in recent years, as cyber criminals have realized how lucrative it can be.

In 2021, we saw a number of high-profile ransomware attacks, including one on the Colonial Pipeline that caused major disruptions to the US fuel supply chain. Cybersecurity experts believe that ransomware attacks will only become more common in 2022, as hackers become more sophisticated and bolder in their attempts.

Phishing Attacks

Phishing is a type of social engineering attack that involves sending malicious emails to large numbers of potential victims in order to trick them into giving up sensitive information. Cybercriminals often target employees within an organization, as they are typically less security-savvy than their IT departments and more likely to fall for these types of attacks.

In 2021, we saw a number of high-profile phishing attacks that resulted in data breaches and financial losses. Cybersecurity experts expect this trend to continue well into 2022, as hackers become increasingly adept at targeting corporate employees with sophisticated scams.

Cyber Espionage

Cyber espionage is the act of hacking into a computer system or network in order to steal valuable information or intellectual property. Cyber criminals can use various tactics to carry out this type of attack, including phishing, malware, and social engineering.

Cyber espionage is a major concern for businesses, as it can result in the theft of sensitive information or trade secrets. In 2021, we saw a number of high-profile cyber espionage attacks, including one on the US government that resulted in the theft of sensitive data. Cybersecurity experts believe that this type of attack will continue to be a major threat in 2022, as nation-states increasingly turn to cyber warfare to gain an advantage over their rivals.

Cloud Security

The cloud has become increasingly popular in recent years, as businesses have looked to take advantage of its scalability and flexibility. However, the cloud also introduces new security risks that need to be considered.

In 2021, we saw a number of high-profile cloud security breaches, including one on Amazon that resulted in the theft of millions of users’ personal data. Cybersecurity experts predict that these types of attacks will only become more common in 2022, as hackers take advantage of the vulnerabilities introduced by the cloud to launch increasingly sophisticated attacks.

Overall, businesses need to be prepared for a wide range of cybersecurity risks if they want to protect themselves against data breaches and other malicious attacks. By investing in robust security solutions and educating employees about potential threats, businesses can significantly reduce their risk exposure and ensure the safety of their systems and networks.

Chris Turn

Chris Turn is the pseudonym of a journalist and writer who has published short stories, essays, and criticism in the Los Angeles Times, the Globe and Mail, the Toronto Star, and the New York Times. Her most recent book, a novel, is The Summoning (The HarperCollins Canada, 2014). She lives with her husband in Toronto.

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