Cyber Security Trend: It is reasonable to assume that the amount of cybercrime in 2023 will be higher than ever before, seeing the events we left behind in 2022. Last year we witnessed a rapid increase in phishing scams, cyberattacks, data breaches, and crypto heists. Additionally, hacktivism instances escalated, with state-backed cyber groups disrupting vital infrastructure and services, vandalizing webpages, initiating DDoS attacks, and stealing data. Therefore, it is foreseeable that 2023 will surpass the current records of cybercrime. Here are five cybersecurity trends that we can predict for 2023.

More privacy and stricter regulations are being enforced

Governments all over the world are taking significant measures to guarantee the data privacy of their citizens. According to Gartner, Inc., by 2023, 65% of individuals worldwide will have their personal data covered by modern privacy regulations, a sharp increase from the 10% in 2020. Five major states will have new comprehensive data privacy laws in the U.S. alone in 2023. The changes in regulations could be seen since early March 2022, when a federal reporting obligation was issued, requiring critical infrastructure organizations to report cyber incidents and ransomware payments. Besides that, the SEC also proposed new cybersecurity disclosure requirements for public organizations, which make them obligated to disclose the board members’ cybersecurity expertise and report cybersecurity activities periodically.

The Zero Trust concept will start to replace VPNs

It is expected, even for 2023, that the trend of working remotely will remain in place. And conventional virtual private networks (VPNs) cannot handle the capability requirements and may be prone to hacking and security flaws. Zero trust is a multi-layered approach that is both reliable and secure. This strategy is based on the concept of “doubt always and verify constantly,” which suggests that even after users are identified and authenticated, they must not be given unrestricted access to all resources. In a zero-trust environment, users undergo an ongoing assessment, authorization and authentication process using multiple methods. The Biden administration has released a memorandum to federal governing bodies, requiring them to apply a Zero Trust Architecture (ZTA) by the end of 2024. Gartner claims that Zero Trust Network Access (ZTNA) is the fastest-growing form of network security, which will increase by 31% in 2023 and completely replace VPNs by 2025.

The use of threat detection and response tools will be the go-to choice

It’s not a matter of “if” but “when” it comes to cyberattacks. The only way to prevent or minimize the effects of an attack is to recognize unusual activity across all users, applications, and computer networks. Threat detection and response systems, such as endpoint detection and response, utilize AI and machine learning to identify abnormal behaviour and use threat intelligence and advanced file analysis to detect and block sophisticated threats. Gartner predicts that the requirement for cloud-based detection and response solutions, for example, EDR and MDR, will go up significantly in the next few years.

More businesses will rely on outsourcing firms to provide cyber security services.

The intricacies of cyber defence have become too complex for companies to handle on their own. Most need the relevant knowledge or tools to establish a complete security operations centre (SOC). Security teams are struggling to cope, and the need for qualified personnel dealing with cyber safety makes it difficult to find and retain the necessary experts. In light of this, many businesses will need to be inventive. They could consider outsourcing their everyday security operations to a professional consultancy or appoint a virtual Chief Information Security Officer (CISO) for strategic guidance. Alongside this prediction, Gartner points out that during 2023 the need for new third-party cyber safety and threat detection tools will increase massively and be used extensively by organizations to increase efficiency.

The requirement for risk evaluations will be increased due to the emergence of cyber insurance

Cyber insurance costs are rising, making obtaining or paying for them challenging. To get a good deal on the premiums and coverage, businesses must adhere to the leading cybersecurity standards and best practices across many security areas. Companies may have to carry out an enterprise risk assessment to show the maturity level of their cybersecurity program and address any insurance-related issues. Risk assessments can help decide how to manage insurance gaps, limits, and coverage.

In conclusion, the threat landscape will likely continue to grow at the same rate as now or even more in 2023, so organizations must remain cautioned and not take any chances. If necessary, they can get help from experienced security experts. So, let’s hope that 2023 will have us cyber-ready.