Top Cyber Security Trends to Watch Out For in 2023

Ayush Parti
August 8, 2022

Cyber security is a constantly evolving sector. Both hackers and security experts are always in a battle to outsmart each other, and in today's digital age cyber security is more crucial than ever. Digital business and hybrid workplaces have shifted the cyber security landscape. It is necessary to reframe security practices and rethink technology, as well as prepare for new threats.

 In this blog, we will be looking at the top cybersecurity trends to look out for in 2023. 

IoT Vulnerabilities

Even though IoT has been around for a long time, it has barely seen much mainstream adoption until recent years. The growth of the Internet of Things (IoT) creates more opportunities for business and improves the quality of life, but at the same time it also opens up doors for cybercrime. If you are unsure of what IoT devices are, think about “smart” appliances such as fitness watches, voice-operated refrigerators, and voice assistants like Google Home. According to estimates, within the next 5 years, there will be 64 billion IoT devices installed around the world. The trend towards remote working is helping to drive this increase.

You might be wondering, “how would this affect my company? We are not in the IoT space.” Here’s the issue: having more devices which are connected through the internet increases its cyber-attack surface. In other words, the number of potential entry points for hackers to break into your digital infrastructure increases. Most IoT devices have far less security measures as compared to computers or phones. As a result, IoT and accelerated digitization is one of the most important facets of cybersecurity trends to watch out for in 2023.

State-Sponsored Cyber Warfare and Regulations

Geopolitical tensions will have a direct impact on cyberspace. The conflict between hackers of powerful countries often creates worldwide news. Even though the attacks are few, they have a significant impact on an event such as elections and other world events. With ongoing economic difficulties, it is likely that we can expect high-profile data breaches, political and industrial secrets to top cybersecurity trends for 2023. 

Apart from this, regulations imposed by the government will impact cyber security practices heavily. One notable example is the GDPR. The general data protection regulation, or GDPR, is one of the most significant developments in data privacy regulation across the European Union (EU) nations. But while the law has EU origins, any company that is marketing goods or services to EU residents need to comply with the new regulation regardless of their location. Consequently, GDPR is having an immense impact on global data protection requirements.

The Growing Potential of Artificial Intelligence (AI) 

In cybersecurity, the role of machine learning (ML) is rapidly expanding growing and is becoming more predictive in nature. Thanks to ML and computer-assisted security measures, cybersecurity becomes more effective, and less expensive simultaneously. From a rich dataset, ML develops patterns and manipulates them with algorithms. This way, it can anticipate and respond to active attacks in real-time. AI has been crucial to building automated security systems, natural language processing, face detection, and automatic threat detection. In fact, it is also being used to develop smart malware and attacks to bypass the latest security protocols in controlling data. AI-enabled threat detection systems can predict new attacks and notify admins of data breaches instantly. 

Needless to say, we are just beginning to witness the true power of AI and how it will shape cyber security. It is one of the top trends that we are excited to watch grow in 2023.

Proactive Cyber Security Practices Like Pen-Testing

The coming decade will see a rise in proactive measures such as penetration testing and vulnerability scanning being carried out by organizations. Not only is it a part of good cyber hygiene, it is also essential to safeguard sensitive data against new cybersecurity threats. A data breach can cost many organizations millions of dollars in damages. Whats the best solution? Implementing security architecture and taking proactive steps.

Many companies have set up security teams to prevent cyber threats and social engineering attacks. However, this is not feasible for all companies, especially smaller ones. This is where the cybersecurity industry is witnessing the most growth as there are new companies emerging which provide affordable cyber security services.

Mobile is A Bigger Target Than Ever

According to reports, there has been a staggering increase of over 50% more mobile banking malware attacks since 2019. Handheld devices are a giant prospect for hackers to break into since they contain more valuable information than ever before. Even though phone manufacturers and tech companies such as Apple prioritize user safety, there are increasingly sophisticated hackers on the other side of the spectrum who are quick to exploit any loophole in security systems. 

According to the RSA’s “Current State of Cybercrime” whitepaper, about 70% of fraudulent transactions originated from mobile platforms, with popular mobile attack vectors including malware, data tampering, phishing attacks, ransomware attacks and data loss. Taking proactive measures to ensure mobile devices are safeguarded from outside attacks is now the responsibility of every business and we should not leave the fate of our security solely in the hands of mobile companies. We look forward to seeing how this facet of mobile technology will evolve in 2023.

Cloud-Based Security Infrastructure

More and more businesses and organizations are migrating to the cloud. However, many cloud services right now do not offer secure encryption, authentication, and audit logging. Some also fail to isolate user data from other tenants sharing space in the cloud. Therefore, IT security professionals see the need to tighten cloud security.

Poor configuration of cloud security can lead to cybercriminals bypassing internal policies that protect sensitive information in the cloud database. Accordingly, security in the cloud is progressing into predictive and innovative security to combat cyber attackers.

Predictive security is becoming useful in identifying threats before attackers begin their move. It can pinpoint attacks that pass through other endpoint security. As a result, businesses are implementing predictive security cloud, with the market gaining a 261% ROI for over three years now (VMWare Carbon Black, 2019). Meanwhile, some sectors have also resorted to leveraging multi-factor authentication to reinforce security.

Remote Workers and Distributed Teams

One of the weakest links in a company's security protocol is people. Human error often leads to the most severe consequences for companies. This is why target ransomware and phishing attacks make up a large part of every hacker's arsenal. Chief information security officers are tasked with conducting social engineering drills to ensure that employees do not fall prey to attacks. However, there has been a flurry of exceedingly sophisticated phishing attacks across the world. It is easier than ever to target an employee since they are working from home, will likely have a less secure internet connection, leave their device unattended, or get fooled by a stray email since they have fewer in-person interactions with their colleagues.

Businesses have implemented policies such as no sharing of passwords, assigning a dedicated work laptop, etc. But is this really going to be enough? We will see in 2023.

Wrapping Up

In conclusion, 2023 will be important for cyber security due to a few major reasons: firstly, the world is still returning back to normal and the post-covid era is still in its infancy. What the future of business and commerce will look like is still a mystery. Secondly, there has been a significant shift in the way the internet works and how connected we are. We are more reliant on technology than ever before, so safety and privacy will be at the forefront of anything we do online. Online banking, entertainment, work, art... it will all need to incorporate network security. Finally, internet literacy has gone up and as a result there are going to be more sophisticated cyber attacks than ever seen before. Governments and political parties understand the power of the internet to influence the masses, and ensuring that it is not exploited is a key ethical concern.

We hope you enjoyed this article. If you'd like to learn more about cybersecurity, check out the Heyhack blog!

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