Top 10 Predictions for OWASP 2022
Every year, the OWASP or the Open Web Application Security Project publishes a list. This list shows us the top 10 most prevalent security risks which are faced by any web application. This list is not just any list; it carefully analyses every loophole with the OWASP Risk Rating Methodology and sets guidelines, best practices, and ways to prevent attacks. The flaws on the list and their solutions help developers to build secure applications.
Obviously, the list doesn’t contain all the vulnerabilities, and there are plenty more. Each year, the list is revised depending on the current trends and international scenarios. Organizations are undoubtedly highly vulnerable to malware attacks with factors like hybrid working culture, stronger digitization, and increased dependency on global supply chains. Public and private organizations are taking the issues of cybercrime much seriously now and are creating the pathway for stringent future security.
By keeping all of this in mind, we are here with our prediction of the OWASP top 10 vulnerabilities in 2022.
1) Cryptocurrency Scams
The number of high-profile cryptocurrency scams skyrocketed over the past year. This was fueled by the ever-growing value of digital money. In August 2021, a whopping $610m worth of cryptocurrency was stolen from Poly Network. Thankfully most of the funds were returned subsequently. But this incident has left us all with huge concerns about the security of cryptocurrency. With a lack of regulations and the glamour of the high-value cryptos, cybercriminals have made this their number one target. With more and more countries giving their nods to cryptos, the lure of heists will only go upwards.
2) Growth of AI
The developments of AI not just create opportunities for cybercriminals to attack, but it can also be used to strike them back. Intelligent automation and AI can play an important role in providing resistance to ransomware. Rather than focusing on new AI/ML technologies, our focus should be on data protection and resiliency solutions for processing, collecting, and analyzing the entire metadata with the existing developments. The fight against ransomware lies on the pillars of remediation, recovery, and readiness.
3) Advancements of Cyber Insurance
Over the past year, the role of cyber insurance has been highlighted exceptionally. Mostly due to the increasing number of ransomware attacks and demands. There are many controversies regarding the coverage. Several industry leaders believe that the attacks are increasing due to the payouts of the victim organization. Anyways, it can be said that the increasing number of cyber threats has increased the dependence on the cyber insurance industry and will play a vital role in the future.
With more cyber-attacks, the leaders are discussing cyber insurance too. With the evolving attack surfaces, the policy coverage terms are also evolving. Businesses that are smaller in size have lesser cyber insurance coverage than large ones. The insurance industry needs to broaden its coverage. This is one that should be on the top part of the OWASP top 10 vulnerabilities, according to us.
4) Fraud Using Deepfake Technology
With more advancements in deepfake technologies, it has a growing potential to be used by cyber-criminals and scammers. It is a huge concern as victims can be duped by audio or video by impersonating individuals. The criminals get the power to copy the face and voice of another individual with the help of deepfake technology and carry out fraud and other crimes. Common people like you and us are falling victim to them more frequently. ML and AI make scamsters more believable to the customers. With the betterment of deepfake technology, its use has increased by 43% since 2019 to scam people. We need to pay special attention to this with the potential for more growth in 2022.
5) Attention to Cybersecurity by Governments
Countries like the United States of America have concentrated their focus on improving the cybersecurity of the nation. They have regulated mandates like introducing zero trust among all the application development contractors. Similar steps have also been taken by the UK government. With more hackers increasing day by day, it would be good for all of us if the governments were more proactive in cybersecurity. This will definitely benefit all of us.
6) Growth of Data Protection Legislation
The world has focused its concentration on data protection and privacy rules. There are acts like California Consumer Privacy Act (CCPA) in the USA. Similar rules are prevalent in Brazil and China but are yet to be implemented in Japan and India. From January 1, 2023, the CPRA and CCPA amendments will be implemented, and the businesses need to prepare for that. Though states like California, Virginia, and Colorado, have introduced comprehensive privacy laws, other states have only enacted privacy laws regarding specific sectors. More US states need to pass comprehensive privacy laws.
Federal privacy law is expected to be introduced at some point in the future.
7) More Focus on Zero Trust Policy Adoption
Experts predict that increased zero trust adoption will be significant in the OWASP top 10 vulnerabilities in 2022. This is mostly due to the more and more hybrid model introduction. To introduce this, the organization will be adopting the Zero trust security model. Security tools like two-factor authentication and the zero-trust approach are essential for protecting the hybrid workforce. These will increase the work safety of thousands of employees like us, whether we are working from home, travelling, or commuting. The ends points need to secure with continuous checks.
8) Expansion of Supply Chain Security
In 2021, all of us were shocked by supply chain security issues. The attacks of Kaseya and SolarWinds showed us how a huge number of organizations could be vulnerable to threats with the breaching of a single link in a supply chain. It is anticipated that in 2022, organizations will be responding by introducing modern security approaches. Cyber attackers are busy utilizing a hyper-connected digital supply network for inventing new attack methods. It is the time to go beyond monitoring security risks in supply chains and take actions to diminish them. The reliance on third-party risk management firms will rise with the focus on assessing global suppliers and partners.
9) Training the Workforce About Cybersecurity
Employees are more vulnerable to cybersecurity risks with the increase in hybrid working model adoption. Most security breaches work in a similar pattern. Stealing of credentials from web applications, social engineering, and common vulnerabilities in unpatched software. The level of our vulnerability has only changed due to the changes in society.
So, all these factors have made it important to depend on the IT teams but also to make the entire workforce aware of the best practices. For these reasons, it is important to introduce innovative and new approaches to security awareness training. All the employees are required to be empowered with cybersecurity knowledge.
10) Organizations Need to Improve Cloud Flexibility
For facilitating the hybrid working model during the COVID-19 pandemic, the growth of cloud adoption rose massively. Several experts are now expecting organizations to improve the resiliency of cloud services. Future customer conversations will be heavily dependent on cyber resiliency. This will be the key to decision-making.
On the other hand, it is also predicted that the desire for resiliency will also skyrocket the need for multi-cloud architectures. Companies that have already adopted the cloud architecture will be evolving their multi-cloud strategies. It is expected to see many more cloud-first enterprises who will be shifting their resources from one cloud platform to another.
So, this concludes our prediction for this year’s OWASP top 10 vulnerabilities list. These were well researched for you by our experts but are not exhaustive. There can be many more additions and deductions. For the end results, let’s wait and see what’s there in the actual list.