The cybersecurity landscape is always changing, so businesses need to stay on top of emerging threats to protect themselves effectively. Otherwise, they may suffer cyberattacks that can result in significant financial losses, reputational damage, potential lawsuits, and regulatory fines.
The following are five cybersecurity trends that companies should be on the lookout for in 2023.
1. Ransomware remaining a big threat
The prevalence and sophistication of ransomware attacks have been increasing steadily in recent years, and this is likely to continue in 2023. In fact, cybercriminals are now using new attack tactics such as double extortion and doxing, in which they threaten to publish stolen data if their ransom demands are not met, to increase their chances of getting paid.
To defend against ransomware attacks, businesses should regularly back up their data and invest in security solutions that enable them to detect and respond to any malicious activity quickly.
2. More damaging supply chain attacks
In supply chain attacks, cybercriminals target a vulnerable third-party vendor or supplier to gain access to a company’s systems. These attacks are usually financially and/or politically motivated. An example of a politically motivated attack is when Russian hackers inserted malware in SolarWinds Orion's software updates. This enabled them to monitor the IT systems of the US Treasury and Departments of Homeland Security, State, Defence, and Commerce.
Given the current global geopolitical environment, 2023 may bring about bigger supply chain attacks. There may be more destructive state-backed Russian attacks against critical infrastructure suppliers (e.g., utilities, communications) of Ukraine, NATO countries, and the US. If such attacks become successful, they could lead to major outages impacting entire nations.
Given the current global geopolitical environment, 2023 may bring about bigger supply chain attacks.
To minimize the risk of supply chain attacks, businesses must thoroughly vet their vendors and suppliers and ensure that these third parties have robust cyber defenses.
3. Growing threat of deep fakes
Deep fakes are computer-generated images or videos that are very difficult to differentiate from the real thing. Deep fake videos, for instance, can be produced by inputting an individual’s photo and voice recording into a machine learning program to create convincing scenes of them saying or doing something they never did.
In recent years, deep fakes have been used to spread misinformation, steal personal information and money, or damage reputations. In 2023, these deep fakes will become even more convincing due to advancements in artificial intelligence.
Therefore, businesses must invest in technologies that can detect and prevent deep fakes. They should also educate their employees about the dangers posed by deep fakes and how to spot these.
4. Addressing remote and hybrid work security risks
The pandemic led to an accelerated shift toward remote and hybrid work arrangements. While such work setups bring a host of benefits, they also introduce plenty of security risks, such as unsecured networks and devices, unauthorized access, and poor employee cybersecurity habits.
Since these work arrangements will remain prevalent in 2023, businesses will find more ways to mitigate the aforementioned security risks, such as by:
- Introducing or refining remote/hybrid work policies
- Enrolling devices used for work into a mobile device management system
- Reviewing security settings of cloud subscriptions
- Partnering with a remote IT support provider
- Enabling and enforcing multifactor authentication for online accounts
- Reviewing and modifying access privileges of user accounts
- Increasing investments in cybersecurity awareness training for employees
Related reading: How to transition your business to hybrid work
5. Rise of managed security service providers (MSSPs)
MSSPs are companies that offer businesses a variety of cybersecurity services, such as monitoring and analyzing network traffic, identifying vulnerabilities in IT systems, patching software and hardware, and responding to security incidents.
Given the continued global cybersecurity skills shortage, businesses will increasingly outsource their IT security needs to MSSPs rather than compete for in-house security specialists. In fact, the global MSSP market is predicted to reach 77.01 billion USD by 2030, up from 22.45 billion USD in 2020.
Quicktech’s cybersecurity solutions use a combination of top-notch solutions and best practices to effectively safeguard Vancouver businesses like yours. With our help, you can rest easy knowing that all your servers, workstations, apps, and data will be secure. Book a FREE consultation with us today.