The modern threat landscape has evolved tremendously, which has made it mandatory for every organization to consider cybersecurity as their top priority. The last decade has pushed cybersecurity from being an IT department topic to being a boardroom discussion.
According to a recent report by Sophos, “Sophos 2023 Threat Report,” the top nine Cybercrime-as-a-service providers offer are:
As the cyber threat industry evolves to become increasingly sophisticated because of easy access, it has strengthened the capabilities of cybercriminals to execute full-blown cyber-attacks on business networks to accomplish their malicious goals. Irrespective of such massive threats lingering on every business network, organizations are not able to effectively secure their IT infrastructure because of multiple reasons.
Another report by Apricorn titled “Annual global IT security survey 2022” suggests that nearly 25% of enterprises have effective remote working policies enforced but their workforce is not adhering to them. It can be alarming because enterprises that are not able to adhere to the security compliance set will be exposed to various sophisticated threats. CISOs should determine all the cyber security predictions and trends in 2023 to make strategic changes in their security posture to strengthen their resilience. Here are a few cybersecurity predictions for 2023 that CISOs should be aware of:
Threat to Intellectual property
The increased adoption of the internet across all businesses, irrespective of their size, type, and industry, has exposed it to various threats. As the internet has enabled the streamlined flow of information across the globe, it has exposed businesses’ intellectual property to various risks of being stolen or misused. Data breaches are another reason that can lead to the theft of intellectual property and lead to disruption of the business.
As there is the increased availability of Ransomware-as-a-service providers, it has become easier for all amateur cybercriminals to successfully execute a ransomware attack and extort huge ransom amounts from the victim. A recent report by Sophos titled “The State of Ransomware 2022” suggests that nearly 66% of the respondents were hit by ransomware in 2021. Moreover, the report also highlights that the average amount of ransom payments was USD 812,360, which witnessed a 4.8X increase from the average amount in 2020. Businesses need to consider ransomware as one of the top cybersecurity trends leveraged by cybercriminals. CISOs, while considering top cybersecurity predictions for 2023, should have effective protection strategies enforced to keep their business network secure from their various ransom threats.
As data has become a crucial asset for every organization and regulatory bodies have evolved their governance policy to secure the customer’s right to privacy. It has made Data breaches one of the most lucrative vectors of cybercriminals. Enterprises are ready to pay a substantial amount of costs to recover their data from malicious actors to comply with the regulatory bodies and avoid losing customer trust. Data threats are one of the top cybersecurity predictions for 2023, which businesses need to be aware of and make strategic changes to keep their sensitive business information secure from malicious actors.
“The necessity for data restoration is a likely scenario in the coming year. With a variety of threats and risks – both internal and external – that could lead to data loss, IT professionals need to focus on making sure that they not only back up their data but that the data backup is usable. Data backups are only effective for restoration when the data is recent, accurate, and accessible. And with a reliance on cloud storage, increased risk of cyber-attacks, and potential employee errors, IT professionals need to put their data backups to the test,” adds Jon.
CISOs need to track all the cybersecurity trends and predictions for 2023 that can be a severe threat to their business continuity and evolve their security posture to keep critical assets secure from modern threats.