Cybersecurity Private Equity

Cyber TRUST™ Index

124

+1

52 Week

210

120

Index at 100 on January 1, 2020

Cybersecurity Trends in 2023 [Weekly Cybersecurity Brief]

The new year is almost here! As we say goodbye to 2022, it’s time to start preparing for what we can expect in 2023. And if there is one key to cybersecurity, it’s preparation. So, let’s dive into the trends likely to drive our efforts over the upcoming 365 days.

Geopolitical Risk

When predicting what will impact cybersecurity going forward, Gartner listed geopolitical risk at the top. The pressures of such conflict really affect the global supply chain, which exposes them to cyberattacks in return. These attacks can include malware, breaches of cloud infrastructure, distributed denial of service (DDoS) and more. “Organizations must build in effective security controls to manage all types of supply chain risks that they face. In 2023, supply chain cybersecurity risks must be addressed as a socio-technical challenge,” states Richard Bartley, VP Analyst at Gartner.

Additionally, MIT Technology Review says that Russian cyber operations against Ukraine will probably continue. This puts a variety of sectors at risk from government to businesses to critical infrastructure and has the potential to disrupt organizations in other countries.

Ransomware

Aside from geopolitical threats, ransomware is also likely to remain a widespread issue. It proved to be a persistent problem in 2022 with a 41% increase in cases. And considering economic states, experts are projecting that this number will rise. However, due to the experience of the past year, the hope is that businesses and other entities will be more aware of the likelihood and how to prevent it.

According to Gartner, there are some newer developments they will have to watch for. One will be the further emergence of human-operated ransomware.

Other Threats

Beyond geopolitics and ransomware, there are other areas that increasingly became cybersecurity targets in 2022 and are expected to remain as such in 2023. They include cryptocurrency and blockchain and IoT to name a few. Bot attacks and abuse of evolving AI and ML are also trends on experts’ radar.

Another concern will be the growing threat around application programming interfaces (APIs). As an important part of digital transformation, APIs are being widely adopted and are seen as a competitive advantage. This advantage also makes them a prime interest of bad actors. As Nik Hewitt explains at Security Boulevard, “An API is a valuable target for cybercriminals because they’re a pathway for hackers to access vast amounts of sensitive data, such as customer information or business-critical data.” On top of that, they are often released before receiving a thorough security review.

Cybersecurity Solutions in 2023

Even as these risks gain momentum, cybersecurity solutions will also continue to progress. For example, companies will need to focus on further enhancing the skills of their cybersecurity teams to tackle challenges such as cloud security. Along with talent, the progression of threat intelligence will serve as a key pursuit as well further implementation of zero-trust techniques.

We look forward to exploring how this all evolves in 2023. Until then, we wish you all happy and secure holidays!

Key Takeaways:

“Gartner analysts reveal 8 cybersecurity predictions for 2023” – Tim Keary, VentureBeat
https://venturebeat.com/security/cybersecurity-predictions-gartner/

  • Gartner recently shared its cybersecurity predictions for 2023.
  • It listed geopolitical risk at the top.
  • The organization also predicts the further emergence of human-operated ransomware.

“Cybersecurity predictions for 2023.” – The CyberWire
https://thecyberwire.com/stories/9b4819b28766496c8a731382456b48ee/cybersecurity-predictions-for-2023

  • According to experts, ransomware will continue to be a problem in 2023.
  • Other risks will include threats to cryptocurrency and blockchain, bot attacks and IoT vulnerabilities.
  • An important part of combatting such problems in the new year will be advanced threat intelligence.

“2023 Predictions: API Security the new Battle Ground in Cybersecurity” – Nik Hewitt, Security Boulevard
https://securityboulevard.com/2022/12/2023-predictions-api-security-the-new-battle-ground-in-cybersecurity/

  • Another concern will be the growing threat around application programming interfaces (APIs).
  • As an important part of digital transformation, APIs are being widely adopted and are seen as a competitive advantage.
  • This advantage also makes them a prime interest of bad actors.

“Cybersecurity Trends: IBM’s Predictions for 2023” – Jennifer Gregory, Security Intelligence
https://securityintelligence.com/articles/cybersecurity-trends-ibm-predictions-2023/

  • Ransomware attacks increased in 2022 and are expected to continue expanding in the new year.
  • Aside from tackling such threats, hiring the talent to do so will also continue to be a challenge.
  • It is predicted that companies will hire general cybersecurity professionals that can then be trained in specific areas such as cloud security.
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