It's that time of year again when we try to predict what's ahead of us in terms of cybersecurity. 2022 has already become a record-breaker for the sheer volume of phishing scams, cyberattacks, data breaches and crypto heists. Our IT specialists have looked at six key trends every organization should keep an eye on in 2023. Read on and learn more!
1. Cloud security focus will be critical.
Cloud security is becoming increasingly important as more and more businesses move their operations to the cloud. This shift has brought many benefits, such as increased scalability and flexibility, but it has also introduced new security challenges. One of the main concerns with cloud security is the https://www.ncsc.gov.uk/collection/cloud/understanding-cloud-services/cloud-security-shared-responsibility-model.
When using a cloud service, the provider is responsible for securing the underlying infrastructure, while the customer is responsible for securing their data and applications. This means that it is important for customers to understand their responsibilities and take the necessary steps to secure their data and applications.
Encryption is also crucial for protecting data stored in the cloud. Encrypting sensitive data before it is uploaded to the cloud ensures that even if the data is intercepted or accessed by an unauthorized user, it will be unreadable.
In 2023, successful organizations will need to shift focus to employ security measures that are built for the cloud.
Tip: Consider implementing proper monitoring and loggings to detect any suspicious activities, and respond to them as soon as possible. This can include using security tools and services provided by the cloud or IT provider, as well as implementing third-party solutions.
It is also a good idea to stay up to date with the latest best practices and developments in cloud security and to work with a trusted IT or cloud provider to ensure that the appropriate security measures are in place.
2. Ransomware is not going away.
During the global pandemic, we saw an increase in ransomware attacks, partly driven by newly remote teams rapidly adopting new technologies.
In 2023, cybercriminals continue to evolve their tactics and develop new ransomware strains that are harder to detect and remove. Additionally, the increasing reliance on technology and the internet in both personal and business settings make more people and organizations vulnerable to attacks. It is important for individuals and organizations to stay informed about the latest threats and to have robust security measures in place to protect against ransomware attacks.
3. Threat actors will stay focused on the supply chain.
Cyber threats on the supply chain can lead to big payouts for attackers. The more interconnected systems and processes are, the more damage they may be able to do. Since the outbreak of the global pandemic, we’ve seen an increased focus on supply chain attacks that are likely to continue in the new year.
Tip: Ensure to understand all levels of your supply chain and their security controls and practices. Make sure to regularly check in to ensure your suppliers are delivering what they agreed they will do. To take it even a step further, encourage your suppliers to adopt the same security measures your business uses to secure your data.
4. Expect more regulations.
The UK's cyber security regulations are expected to become more stringent in 2023 with the introduction of new legislation. The government is expected to introduce new regulations to strengthen the protection of personal data and critical national infrastructure, as well as implement stricter penalties for companies that fail to comply with cyber security regulations. Additionally, the government may also require companies to have incident response plans in place and to implement regular cyber security audits and assessments. These regulations will likely be enforced by the Information Commissioner's Office (ICO) and other regulatory bodies.
Tip: Consider adopting a SaaS-based cybersecurity framework management platform that can help you manage all of your frameworks, down to a control and sub-control level, all within a single dashboard. The platform also gives you instant insight into how your controls and frameworks are performing so you can identify weaknesses and resolve them before an attack.
5. Breaches are going to cost more.
It is expected that the cost of cybersecurity breaches will continue to rise in the coming years. That is due to a number of factors, including an increase in the number of attacks, more sophisticated and targeted attacks, and the growing use of new technologies such as IoT devices and cloud computing.
One major factor that is contributing to the rising cost of cybersecurity breaches is the increasing use of ransomware. Phishing attacks are becoming more common and more sophisticated, and they are often targeting larger and more valuable organizations. As a result, the cost of these attacks is rising, and businesses are having to spend more money on recovery and mitigation efforts.
Tip: By taking a proactive approach to your cybersecurity measures and controls, you’ll have more opportunities to identify vulnerabilities and security weaknesses across your business, prioritize which of those need your attention first, and then manage them before a breach can happen.
6. It’s going to be harder to get cyber insurance.
As cyber-attacks become more frequent, insurance companies may begin to implement more stringent underwriting practices to determine which businesses and individuals are at higher risk of a cyber attack. This may make it more difficult for some to qualify for cyber insurance.
What's more, the cyber insurance market is expected to grow in the coming years, but there will be a limit to the amount of cyber insurance that companies will be able to provide. This limited capacity may make it more difficult for some to obtain coverage.
Need more advice?
If you have any questions about cybersecurity levels in your business, contact one of our friendly IT specialists team. We can provide the most suitable and cost-effective service options tailored to your unique business requirements.
As a team of IT experts, we pride ourselves on providing the best technology solutions to businesses across the UK since 1993. We have plenty of great advice that we can share with you! So, if you have any questions about your business IT:
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