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These 3 Cyber Risk Predictions Will Impact Consumers in 2022

January 4, 2022 by Joe Talbott

In my last post, I focused on how the rise in personalization, driven by consumers’ increase in digital consumption, is influencing consumer desire to have more and take more control of their data, data security, and digital privacy. 

As we head into the new year, Experian’s Data Breach Resolution team is kicking things off with its 2022 predictions report, shining a light on a handful of areas that could be in for a tough year as cyberattack targets. While the annual report provides guidance for businesses backed by Experian’s 18 years of helping companies navigate data breaches, three of this year’s five predictions are worth calling out as top concerns for today’s privacy-aware consumers.

In what the Ninth Annual Data Breach Industry Forecast calls the “Cyberdemic Hangover,” consumers—who are connected to digital channels now more than ever— could be impacted by cyber thieves looking to exploit weak technologies, broken systems, new market activity, and more, resulting in the need for more identity protection.

Here’s a quick review of the 3 Cyber Risk Predictions That Could Impact Consumers

  1. Cyberdemic 2.0: Institutions Adapt, Individuals Remain the Weak Link It’s clear now that many of the adaptations we made suddenly in response to the pandemic – telehealth, remote work, contact tracing – have left imprints on society that will outlast the pandemic itself. Some of these changes are now permanent aspects of our lives, arguably with mixed consequences. While many institutions will have successfully adapted by 2022 and developed new security protocols, many consumers – still working remotely – will likely be the weak security link in these new digital systems.
  2. Hackers Bet on New Gamblers The large pool of money flowing from gamblers to online casinos will be a tempting target. Gambling is increasingly legal will make online fraudsters harder to detect. Relatedly, scammers will also target fantasy sports sites, whether through phishing attempts or outright hacks.
  3. Digital Assets Put us in Peril As consumers increasingly accept cryptocurrency and NFTs (Non-Fungible Tokens) as legitimate transactions and legitimate asset classes, both will become targets for attack, revealing that these ostensibly safe, immutable assets are vulnerable. Concurrently, as our identities become more digitized, more bad actors will leverage these assets to steal identities.

These predictions are concerning, but they don’t have to put consumers in a data privacy or identity protection predicament. Securing more identity protection will be important as attacks increase, and consumers should also consider taking more proactive measures to help prevent thieves from accessing and exploiting their data in the first place.

Experian’s newly released Digital Privacy suite makes that possible. With Password Manager, Secure VPN, and Safe Brower, consumers can reduce their digital risk, prevent data loss, and take control of their data privacy to help keep their personal information and digital lives secure and private.

As new technology, ways of working, and industries evolve, consumers will desire more ways to protect their data from cyber thieves looking to take advantage of the changing conditions. At Experian Partner Solutions, we are committed to delivering insight, illuminating pathways and offering products to help consumers take control.

For more on Experian’s Digital Privacy suite, click here.

To download the Ninth Annual Experian Data Breach Industry Forecastclick here.

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