article image 1-28-22.jpgHow Cyber Threats Will Evolve in the Coming Years

January 28, 2022

What is the future of cyber security? If you service cyber insurance clients, you likely already field questions about the changing winds of the cyber security field. However, the threats your clients may face, regardless of their industry, are far from stagnant. In fact, the typical evolution of cyber security points to the possibility of new threats on the rise in the coming years. To help your clients prepare to fight off and mitigate these threats, review this quick exploration of some rising threats to be aware of in the field.

Phishing Scams Could Pose an Issue To Employees Across Industries

Unfortunately, phishing scams, wherein a scammer solicits sensitive information from employees by misleading or fraudulent means, are likely to continue to be common in the future. This means that your clients should watch out for any potentially suspicious:

  • Emails
  • Instant messages
  • Pop-up advertisements
  • Chats in the company system
  • Unsolicited letters

Phishing is an issue that can affect a wide range of industries. However, clients in the following fields may want to take additional precautions:

  • Financial services
  • Consulting businesses
  • Educational services
  • Retail, apparel, and other sales-oriented businesses
  • Private security companies

Large Companies Should Watch Out for Potential Data Breaches

Your client’s data is likely one of their most valuable assets, so knowing how to respond to a potential data breach is an essential survival skill. Your clients should always be on the lookout for signs that a data breach may be underway or may have already occurred. These signs typically include:

  • Unauthorized company software logins
  • Missing company assets
  • Redacted sensitive information
  • The presence of suspicious or previously nonexistent files
  • Sudden, unauthorized changes to the database

Identity Fraud Could Impact Companies’ Human Resources Department

Even if your clients hire talented HR personnel, identity fraud is an omnipresent threat that may continue or even grow in the future. Your clients’ human resources departments should be wary of scammers hoping to:

  • Leak employees’ personal data
  • Breach the human resources department’s software system
  • Steal or alter important records or employee paperwork
  • Make private data accessible to the general public

As many of your cyber insurance clients may already be aware, cyber threats appear to be on the rise and will likely continue to shift and evolve in the coming years. However, your clients need not panic; instead, learning about these potential evolutions early on can help them prepare their company to ward off the most common threats. Remind your clients to be vigilant and keep an eye out for potential phishing scams, data breaches, and identity fraud in the human resources department, regardless of what industry they’re in. Equipped with this insightful information, your clients may be able to combat the most pressing new cyber threats in the years to come. ◼