Top Cybersecurity Trends and Predictions for 2023
Without a doubt, 2022 has been such an eventful year in the world of cybersecurity. There were over 2.8 billion reported cases of malware attacks worldwide and over 236 million reported cases of ransomware attacks just in the first half of the year.
In 2022, the government of Costa Rica declared a state of emergency and Toyota was forced to shut its 14 factories in Japan, following different and several cyberattacks.
As we enter the last few hours of 2022 and look forward to 2023, cybersecurity remains top of the agenda for the leaders of several businesses and organizations worldwide.
It is, therefore, natural to start thinking about what the next year might bring in terms of cybersecurity trends and predictions, and help inform decisions on information security strategies and budgets.
Here are my top 10 cybersecurity trends and predictions for 2023:
Ransomware Attacks
Ransomware attacks, in which hackers encrypt a victim’s data and demand payment to decrypt it, have been a major problem in recent years. These attacks are likely to continue in 2023, as hackers find new ways to target businesses, organizations and individuals across different spectrums in different societies and cultures.
Remote Work Security
The shift towards remote work, accelerated by the COVID-19 pandemic, has created an increased need for secure remote access solutions. The nature of remote work is changing and more organizations are adopting policies and environments that allow their employees to carry out their respective tasks remotely more effectively.
In 2023, we can expect to see a continued focus on this area, as organizations look for ways to protect their networks and data while employees are working remotely.
Further developments in this area include the adoption of virtual private networks (VPNs) and other secure remote access technologies, as well as the implementation of strong authentication protocols and the use of multi-factor authentication.
Another major trend in this space is something known as Decentralized Security; a comprehensive network of proactive and reactive defenses with built-in machine learning features that monitor endpoints, identities, and access regardless of who the users are, what they do, or wherever they may be connected from.
Supply Chain Attacks
Supply chain attacks involve compromising the security of a third-party vendor or supplier to gain access to an organization’s systems or data. These attacks can be difficult to detect and prevent because they usually do not involve any direct interaction with the target organization.
Organizations can establish steps to mitigate against such attacks including implementing secure supply chain practices, conducting thorough random checks on their suppliers, and implementing incident response plans.
A recent policy statement published by the Bank of England outlines regulations that affect financial institutions regarding outsourcing and third-party risk management.
New Technologies & More Attack Vectors
As new technologies emerge, they will also bring new attack vectors for hackers to exploit. In 2023, we may see an increase in attacks targeting the internet of things (IoT), as well as attacks targeting emerging technologies such as 5G networks and quantum computers.
Artificial Intelligence and Machine Learning
Artificial intelligence (AI) and Machine Learning (ML) have already started to play a significant role in cybersecurity, and this is likely to continue in 2023. These technologies can be used to analyze large amounts of data and identify patterns and anomalies that might indicate a security threat.
One example of this is the use of AI and machine learning to analyze log data and identify unusual activity that might indicate a cyberattack. This can help organizations respond more quickly to threats and minimize the damage caused by an attack.
Regulation and Compliance Requirements
As cybersecurity threats continue to evolve and become more sophisticated, we are likely to see increased regulation and compliance requirements in the coming year. This may include new laws and regulations that require organizations to implement certain security measures, as well as increased penalties for organizations that fail to meet these requirements.
Last year, I wrote an article about the Digital Operational Resilience Act (DORA) regulation proposed by
the European Union (EU).
With DORA, the EU aims to harmonize and improve risk management and operational resilience within the financial sector across the region by addressing many of the issues that concern leadership, governance, and continued operations through a severe operations disruption as well as establishing an oversight framework for managing ICT critical third-party providers (CTPPs).
The Council of the European Union (i.e., EU Council) recently adopted DORA as policy across the region.
Evolution of Cyber Threats
Cyber threats are constantly evolving, and we can expect to see new types of attacks and tactics in 2023. As hackers become more sophisticated, they will continue to find new ways to target organizations and individuals.
To protect against these evolving threats, it will be important for organizations to stay informed about the latest developments in cybersecurity and to implement effective security measures. This may involve investing in new technologies and training employees to recognize and respond to potential threats.
Cloud Security Solutions
The use of cloud-based security solutions is likely to increase in 2023, as organizations look for ways to protect their data and systems in the cloud. This may include the use of Cloud Access Security Broker (CASB) services and other cloud security technologies.
Zero-Trust Security Models
Zero-trust security models, which assume that all users and devices are untrusted until proven otherwise, are likely to become more popular in 2023. These models can help organizations protect against insider threats and ensure that their networks and systems are secure.
We can expect more security products and services to be compliant with zero-trust models, satisfying all seven tents of the NIST 800-207 model on zero-trust, as an example.
Data Privacy and Protection
As more data is collected and stored online, the protection of personal and sensitive information will continue to be a major concern in 2023. Organizations will need to implement strong data privacy measures to ensure that they comply with applicable laws and regulations as well as protect against data breaches.
“How do we effectively protect our consumers’ information from unauthorized access, use, and abuse?” This is just one of many pertinent questions that information security and risk leaders must anticipate for the future and plan accordingly.
Cybersecurity Insurance
According to a recent report, the global cybersecurity insurance market size is expected to reach US$32.6 billion by 2028.
As the risks of cyberattacks continue to grow, we can expect to see an increase in the use of cybersecurity insurance in 2023. This type of insurance can helps organizations protect against the financial impacts of a cyberattack and ensure that they have the resources to recover from an incident.
We’re falling into this old habit of trying to treat everything the same as we did in the past… This simply cannot continue. We need to make sure that we are evolving our thinking, our philosophy, our program, and our architecture.
In conclusion, 2023 is likely to see an increase in supply chain attacks, state-sponsored cyberattacks, a continued focus on the security of remote work, the emergence of new technologies and attack vectors, and the growth of ransomware attacks. However, it will also be a year for some organizations to derive benefits from their investments, preparedness, and innovations in information security and regulatory compliance best practices.
