8 Cybersecurity Predictions to Give a Try in 2023
We all know that cybercrime is a growing industry. The FBI reported that Internet crime cost $6.9 billion last year. Although companies now know how important it is today to invest in cybersecurity, attackers constantly learn new methods and build tools to get access to business data or money.
The bad news is coming; many experts predict that 2023 will be worse than 2022 regarding the number of cyber attacks. Cybersecurity leaders suggest that the adoption of new technologies, the use of mobile phones, the growing popularity of blockchain and economic recession will cause more severe and sophisticated attacks.
Although many things will change this year, knowing what you can expect from the market can prevent many mistakes and even save your business. This article will show you cybersecurity predictions you should know in 2023 to protect your business against various types of attacks.
Identity and Authentication Attacks Remain a Constant Threat
Experts say organisations will continue to struggle with identity- and authentication-related attacks. These attacks allow unsophisticated threat actors to purchase credentials in the underground or enter the business environment.
Automation & Security Operations
Experts say that we will see automation move into the few remaining areas of Security Operations that are now highly dependent on manual processes. There are many areas that will experience automation, but a few of them are exposure management and API security. Automation is believed to help holistically address questions like “What is our level of preparation to detect and respond to the threats that are likely to happen to our organisation? For example, kubernetes WAF is a firewall that is used by companies to automatically track down malicious requests into their web APIs.
Another vital area that is believed to become more automated is detection engineering. Now the area depends on specialised expertise and specific knowledge. Automation will not only make it easier for companies to manage their security posture but also reduce the need for costly specialists, reduce the risk for organisations, show vulnerabilities before they are used by hackers and help them achieve better workflow in the cybersecurity area.
Ransomware Attacks on Public and Private Sectors
Ransomware is one of the most popular types of attacks today. We have already seen the continued growth and prominence of ransomware attacks on the public and private sectors. In addition, industry-specific threats and opportunities will grow within the wider attack surface, affecting specific domains, including healthcare, finance and energy.
Insider Risk Will Increase
Insider risk has always been one of the biggest concerns for many companies. However, it has experienced immense growth in 2022 and will remain strong this year. We already see increased insider risks, where hackers attempt to coerce and extort trusted employees to commit malicious acts. In addition, suppliers of federated identity and authentication will also experience an increased risk of these attacks targeting other software-as-a-service (SaaS) providers.
Broader Adoption of Passkeys Technology
Alongside password management and account security improvement, experts say we will see broader passkey adoption from users, developers and in common security vernacular. Some believe that we will be able to see SMS/one-time password (OTP) phishing continue to rise, meaning apps and websites alike will be more likely to adopt passkeys for consumer-facing admin tools.
Considering the hybrid corporate environment and growing web popularity for various projects, the browser seems to become an even more vulnerable yet vital strategic asset for companies. Regarding the workforce, the demand for cybersecurity experts and skills in specific industries will continue to surpass available talent. Experts say that it will eventually lead to the need for investment in multidisciplinary cybersecurity skills development.
Cybercrime will Shift Business Models
We saw great pressure on commercial spyware vendors and hack-for-hire operators in 2022. The pressure came from tech companies and governments alike. However, even with that pressure, threats won’t disappear, and businesses should expect them to grow. The growth will be accomplished by shifts in business models. Considering the impact of these attacks, organisations should be ready for any format they can take in the next few years and constantly monitor how the market changes.
Reused Passwords & Secret Question Fields
Although 2023 only started, we already see many data breaches in the dark web that have happened through targeting reused passwords and all the secret question fields such as date of birth, SSN, addresses and more.
That is why organisations running apps and websites will increasingly adopt secure authentication, such as federated identity and passkeys. For example, organisations now inform their users that they need to change usernames, not use similar passwords for two platforms, check SMS codes and others. User awareness works like an extra layer of protection and makes data security easier for organisations.
Reduction in Spending on Training Programs
Although the cybersecurity industry has long been considered a recession-proof industry, we will likely see a reduction in spending and training programs. While it could be a hazardous idea for some organisations, experts believe we will see this pattern only in a few industries that are less likely to be hacked. We already don’t see companies that invest a lot in cybersecurity. But if they do, training programs will soon disappear, switching to hiring experts so organisations won’t need to train the personnel.
This applies to companies training their staff and cybersecurity organisations to improve the skills of their teams. It is vital to note that the cybersecurity domain already experiences a skill shortage which will only worsen as the recession appears in 2023 thanks to the high demand for skilled cybersecurity specialists.