"This model has several advantages for cybercriminals, as it allows them to scale their operations, target a wider range of victims, and reduce the risk of being caught."
Cyber crime is on the rise! It may sound like the security industry screams this from a mountain every year, but there is reason or that: It’s true.
Over the past decade, reported cyber attacks have risen year on year, alongside the average financial impact of an attack. As the defensive security teams brace for 2023, security researchers from around the world are releasing their 2023 cyber security trend predictions.
We’ve analysed all of these 2023 security trend lists, avoided any language that’s too technical and developed our own top 5 list that will likely have an impact on the everyday person.
1: Geopolitical issues will rise, meaning state-sponsored threat actors will likely target infrastructure and critical services.
Geopolitical issues can certainly have an impact on cyber security, and state-sponsored threat actors have been known to target infrastructure and critical services in the past. As nations' dependencies on technology increases, it is likely that state-sponsored threat actors will continue to target infrastructure and critical services in order to gain a strategic advantage or to disrupt the operations of their adversaries.
Furthermore, as technology becomes more advanced, it's becoming harder to distinguish between state-sponsored cyber-attacks and cybercrime attacks, making attribution a difficult task. Some experts predict that the number of state-sponsored attacks will continue to rise as nations look to gain a strategic advantage in the digital realm.
It's important for organizations, especially those that operate critical infrastructure and services, to stay informed about potential threats and to have robust security measures in place to protect against state-sponsored attacks. This includes regularly monitoring their networks for unusual activity, implementing security best practices, and working with government agencies to share threat intelligence.
2: Cyberattacks-as-a-service will dominate as the primary source of cybercrime.
Cyberattacks-as-a-service (CaaS) has been a growing trend in the cybercrime landscape in recent years, and it is likely that this trend will continue in the future. CaaS refers to the use of underground marketplaces or platforms that offer a wide range of cybercrime services, such as malware development, phishing campaigns, and distributed denial of service (DDoS) attacks, to customers who may not have the technical expertise or resources to carry out cyberattacks on their own.
This model has several advantages for cybercriminals, as it allows them to scale their operations, target a wider range of victims, and reduce the risk of being caught. Additionally, the increased availability of these services makes it easier for less experienced actors to launch cyberattacks.
As a result, experts predict that CaaS will continue to be a major source of cybercrime in the future, and organizations will need to be vigilant in order to protect themselves from these types of attacks. This includes implementing security best practices, regularly monitoring their networks for unusual activity, and working with security researchers and government agencies to stay informed about the latest threats and trends.
3: Companies without a focus on developing a security-aware culture will be the most vulnerable to compromise.
Developing a security-aware culture is crucial for organizations to protect themselves against cyberattacks. A security-aware culture refers to an organization where security is integrated into the overall business strategy, and employees are educated and trained to understand the risks and to take the necessary precautions to protect the organization's assets.
Companies that do not prioritize the development of a security-aware culture will be more vulnerable to compromise. This is because employees who are not aware of the risks and best practices are more likely to fall for phishing scams, inadvertently install malware, or neglect to follow security protocols.
Additionally, having a security-aware culture also increases the chances of early detection of potential threats, and quick response to security incidents. Employees, who are well-informed about the risks and best practices, will be more likely to detect unusual activity and to report it to the security team.
In conclusion, companies that prioritize the development of a security-aware culture will be better equipped to protect themselves from cyberattacks and to respond quickly and effectively in the event of a compromise.
4: Many organisations will outsource a portion of their new and existing cybersecurity activities.
Many organizations are already outsourcing a portion of their cybersecurity activities, and it is likely that this trend will continue in the future. Outsourcing cybersecurity activities can provide organizations with access to specialized expertise and resources that they may not have in-house, as well as help them to stay up-to-date with the latest threats and best practices.
Some common examples of cybersecurity activities that organizations outsource include:
Managed security services: This includes services such as monitoring, threat detection, incident response, and vulnerability management.
Penetration testing: This is the practice of simulating cyberattacks to identify vulnerabilities in an organization's systems and networks.
Compliance and regulatory requirements: Organizations may outsource activities related to compliance with industry regulations and standards, such as HIPAA, PCI-DSS, etc.
Cloud security: As more and more companies move their data and applications to the cloud, the security of these environments becomes increasingly important.
Outsourcing cybersecurity activities can also help organizations to manage costs and to focus on their core business activities. However, it's important to choose a reputable and reliable vendor, and to ensure that they have the necessary expertise and resources to provide the services needed. Additionally, it's important to have an effective communication and coordination between the organization and the outsourcing vendor to ensure that the security of the organization is not compromised.
5: Legal liability and tighter data protection laws will elevate cybersecurity oversight at the board.
Legal liability and tighter data protection laws can certainly have an impact on cybersecurity oversight at the board level. As organizations are held accountable for protecting sensitive information and for complying with data protection regulations, it is becoming increasingly important for boards of directors to be aware of the cybersecurity risks facing their organization and to take an active role in managing them.
With increasing legal liability and stricter data protection laws, boards of directors are becoming more aware of the potential financial and reputational risks that a cybersecurity incident can have on their organization. As a result, they are taking a more active role in ensuring that their organization has robust security measures in place, and that they are being effectively managed.
Boards are also becoming more involved in the development of the overall cybersecurity strategy, and in the assessment of risk exposure, and the management of those risks. This includes creating a cybersecurity committee or appointing a chief information security officer (CISO) to report directly to the board. This can help organizations to better protect themselves from cyber threats and to comply with data protection regulations.
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