In its forecasts for 2022, WatchGuard addresses, among other things, the new passwordless Windows authentication as well as rising costs for cyber insurance and (MFA) for remote access to company resources.
The IT security experts at WatchGuard once again dealt with various security-related developments that have the potential to cause a stir in 2022. For example, the analysts at the WatchGuard Threat Lab assume that cyber criminals will quickly find ways to bypass the passwordless authentication that Microsoft Windows has proclaimed. At the same time, it is predicted that the rising costs of cyber insurance could massively promote the spread of strong multifactor authentication (MFA) for remote access to company resources.
Microsoft's password goodbye isn't perfect
Regarding the effectiveness of Microsoft-initiated digital identity verification, Corey Nachreiner, Chief Security Officer at WatchGuard Technologies, has a clear opinion: "While we welcome the fact that Windows no longer relies on passwords for validation, we also believe that the ongoing Focusing on single-factor authentication for Windows logins just repeats past mistakes.” Windows 10 and 11 now offer completely passwordless authentication with options such as biometrics, hardware tokens, or a one-time password (OTP) email—all factors that have been successfully compromised in the past. Accordingly, Nachreiner's verdict is: "Microsoft has failed to really solve the problem of digital identity verification with a mandatory and user-friendly integration of multi-factor authentication." He generally advises companies to combine at least two authentication methods, for example in the form of biometrics or tokens and push approval on the mobile phone, using an encrypted channel.
Insurance coverage only with an existing MFA solution
The insurance industry could also massively fuel the trend towards multifactor authentication in 2022. After all, the benefits paid to cover damage caused by ransomware attacks have skyrocketed in the recent past. As a result, the providers are not only increasing the premiums, but are also carefully scrutinizing the IT security precautions on the company side before granting insurance cover. Organizations that do not have the right security measures in place in 2022 - including multifactor authentication - run the risk, according to Nachreiner, of possibly not receiving the cyber insurance they might want - and certainly not not at the desired price. According to a report by S&P Global, the loss rate of cyber insurers rose by 2020 percentage points in 25 for the third year in a row to a total of more than 72 percent. This increased the premiums for independent cyber insurance by 28,6 percent and reached a total of 1,62 billion US dollars.
More at WatchGuard.com
About WatchGuard WatchGuard Technologies is one of the leading providers in the field of IT security. The extensive product portfolio ranges from highly developed UTM (Unified Threat Management) and next-generation firewall platforms to multifactor authentication and technologies for comprehensive WLAN protection and endpoint protection, as well as other specific products and intelligent services relating to IT security . More than 250.000 customers worldwide rely on the sophisticated protection mechanisms at enterprise level,