Cybersecurity and Compliance Trends for 2023

With the Digital Revolution sweeping the globe, all businesses, large and small corporations, organizations, and even governments are relying on computerized systems to handle their day-to-day operations. Whether the never-ending list of compliance needs to meet or the growing pile of corporate data being generated, an organization’s cybersecurity responsibilities appear to grow yearly. Keeping up with the newest cyberspace trends is the greatest method to ensure your organization’s defensive strategy is up to date. As a result, cybersecurity has become a fundamental priority to protect data from various internet attacks or illegal access. Keeping this in mind, as news of data breaches, ransomware, and hacking becomes the norm, ongoing technical progress suggests a corresponding shift in cybersecurity patterns. 

Let’s take a look at the top cybersecurity and compliance trends in 2023

1. Cyberattacks using Ransomclouds

Ransomware attacks have no end in sight. According to Cybersecurity Ventures, ransomware is expected to cost $265 billion annually by 2031. The number of ransomware strains has also increased rapidly in recent years; there are 130. Ransomware has also infiltrated cloud systems. Malware or phishing emails are frequent vectors for ransom-cloud attackers, who use popular methods such as file sync piggybacking to target cloud-based mail systems like Office 365. In this case, the attacker sends a phishing email with an attachment that, when opened, begins the installation of ransomware on the user’s PC. This ransomware appears to the user as an innocuous pop-up.

The malware spreads, granting the threat actor access to the network. When a user performs a file sync contact with the cloud, the ransomware will ‘piggyback’ on the service and assist the threat actor in infiltrating the cloud environment.

2. Cyber threats (especially IoT threats) with 5G

With the advent and growth of 5G networks, a new era of interconnectivity will become a reality with the Internet of Things (IoT). Internet of things (IoT) risks occur when attackers search devices for weaknesses and attempt to connect over non-standard ports. According to the MITRE ATT&CK methodology, the attacker may use the non-standard port technique to establish connections using ports that are not generally used or to muck with the protocol to circumvent standard ports. The attack surface in a basic network structure is limited to the specific entry points to enterprise systems; however, in an IoT network, the attack surface expands, resulting in more vulnerabilities. The Internet of medical things (IoMT) comprises devices that can communicate with IT systems in healthcare facilities. Sensor-based or remote patient monitoring equipment, such as wearables, can be used.

The growing adoption of these devices among patients creates a plethora of vulnerabilities and entry points for hackers to obtain access to patient data. As a result, monitoring these endpoints around the clock should be a top responsibility for all enterprises.

3. Artificial Intelligence (AI) as a potential technology

With AI being adopted in various market categories, this technology and machine learning have significantly improved cybersecurity. AI has played a critical role in developing automated security systems, natural language processing, facial detection, and autonomous threat detection. However, it is also used to create sophisticated malware and attacks to circumvent the most recent data security mechanisms. AI-enabled threat detection systems can forecast new assaults and immediately inform administrators of any data breach.

4. State-Sponsored Cyber Warfare & Insider Threats

There won’t be any stoppage between the western and eastern powers in attempts to find superiority. The tension between the US and Iran or Chinese hackers often creates worldwide news though the attacks are few, they have a significant impact on an event such as elections. And with more than 70 elections bound to be held this year, criminal activities during this time will surge. Expect high-profile data breaches and political and industrial secrets to top cybersecurity trends for 2023.

On the other hand, human error is still one of the primary reasons for data breaches. Any lousy day or intentional loophole can bring down a whole organization with millions of stolen data. A report by Verizon on data breaches provides strategic insights on cybersecurity trends that employees directly or indirectly made up 34 percent of total attacks. So make sure you create more awareness within premises to safeguard data in every way possible.

5. Cyberattacks on operational technology (OT)

The software or hardware mechanisms that monitor and detect changes in industrial equipment, systems, and processes are operational technology. Industrial control systems (ICS) are a key component of OT and have become a new target for cyber attackers. The primary source of concern here is not only data security but actual physical damage. Consider this example from cybersecurity expert Chris Qhubeka. Suppose a criminal gains access to the UK’s water system, which includes lead pipe infrastructure. In that case, they can change the chemical balance in the water to make it more acidic, with widespread consequences. Organizations must have processes to detect such anomalies and respond quickly to mitigate their impact.

Conclusion

As a result of these cybersecurity trends in 2023, organizations are bound to be warier in stacking their security measures. In this year alone, businesses will spend $100+ billion on protecting their assets, more than ever before. With infrastructure security being such an essential aspect of practically any firm today, it would be a wise decision for them to begin their learning curve in cybersecurity today to become specialists for tomorrow.

Related Article: https://www.venture7.com/blog/the-top-5-cybersecurity-and-compliance-trends