In 2022, the number of cyberattacks, phishing scams, and data breaches reached an all-time high. There was also increased hacktivism incidents, where state-sponsored hackers disrupted services and websites. It’s widely believed that in 2023, cybercrime will set new records. In this article are cybersecurity practices that we can expect to see this year.
Privacy and Regulation
In response to the increasing concern about the security of citizens’ information, governments worldwide introduced laws and regulations to prevent unauthorized access and use of this data. Five major US states will have comprehensive legislation regarding data privacy in 2023. Also, over 40 state governments introduced or considered over 250 cybersecurity bills in the US in 2022.
The new regulations require specific organizations, such as hospitals and financial firms, to report incidents involving ransomware and cyber attacks. The SEC also suggested requiring public entities to disclose the expertise of their board members and cybersecurity practices.
The increasing popularity of remote working will continue. Unfortunately, virtual private networks can’t meet the scalability requirements of today’s technology. On the other hand, zero trust is a multitier, highly secure, and scalable approach.
The concept of zero trust is based on the idea that only users should be granted access to certain resources. It requires that they be continuously reauthorized and verified. In a secure environment, every user is continuously re-authenticated and validated.
A cyber attack is not a question of if or if it will happen, but when. An organization must first identify the unusual activities across its ecosystem to prevent a damaging attack.
Using machine learning and artificial intelligence in threat detection can help organizations identify and block advanced attacks. They can also analyze historical data to spot unusual patterns. These tools can be used to analyze multiple types of threats and determine which ones are most likely to succeed.
Third-Party Risk Management
Because of the increasing number of sophisticated attacks being carried out against small and medium-sized enterprises, the number of supply chain attacks grew significantly in 2021. Many of these attacks are carried out through the exploitation of third-party applications that are designed to improve productivity. These tools can be very vulnerable to attack because they have a variety of vulnerabilities.
CEOs and board directors of companies demand improved security measures in their supply chains. This is why it’s expected that the demand for vendor questionnaires, tools, and services will increase.
Due to the complexity of cybersecurity, many organizations need help managing their security. They also lack the necessary resources and skills to establish and maintain a full-scale security operations center. This is why they must hire and retain the right individuals.
Many companies will be forced to consider outsourcing some of their security operations due to the lack of experience and skilled personnel. They can also utilize the leadership capabilities of virtual CISOs.
The rising cost of cyber insurance makes it harder for companies to obtain or afford it. Organizations must provide evidence that they’re following the best practices and cybersecurity standards to lower their premiums and improve their risk coverage.
To address these concerns, many organizations will start conducting enterprise risk assessments. These assessments will help them identify areas of their operations where they can improve their cybersecurity. They can also help them develop a strategy for addressing their insurance needs.