Data security threats, ransomware attacks to continue rising in 2022
Companies will need to update their incident response plan, Baker Mckenzie said.
Data security threats, ransomware attacks, and phishing will likely continue to increase in 2022, Baker McKenzie said in a report.
In this light, companies will need to prepare and update their incident response plan as well as systematically upgrade and document their technical, administrative and organisational data security measures.
Baker Mckenzie added it is unlikely that companies can expect much help or protection from governments against cybercrimes.
Companies “need instead brace for additional punishments imposed by governments for insufficient security measures,” the firm said in a report.
Baker Mckenzie said governments will continue updating and supplementing their respective measures on data protection as new technologies and threats emerge.
“To stay ahead of these changes, companies need to develop, regularly update and review privacy compliance measures, risk profiles, tools and governance models,” the firm also said.
China, for instance, implemented a privacy law which is expected to be enforced and interpreted by their governments.