Cybersecurity concerns continue to dominate the headlines, and it seems like not a day goes by without news of another breach or malware attack. In 2021 alone, ransomware attacks cost the world an astounding $20 billion. Overall, cybercrime is expected to result in losses of $10.5 trillion annually by 2025.
These figures boggle the mind, and it can be difficult to know where to start when it comes to protecting your organization from these bad actors. To help you get started, we’ve compiled a list of the latest cybersecurity vulnerabilities, trends, news, and incidents you need to be aware of as we head into 2023.
Top Cybersecurity Vulnerabilities and Trends
Ransomware attacks continue to be a major threat and show no signs of slowing down. In fact, the average ransom demanded by attackers has gone up by an estimated 82 percent since 2020. This trend is likely to continue as attackers become more sophisticated and target larger organizations with deeper pockets.
Bad actors are also increasingly exploiting vulnerabilities in IoT devices to gain access to corporate networks. This is a major concern as the number of IoT devices in use is expected to grow from 14.4 billion in 2022 to 27 billion by 2025.
5G security is another top concern as this new technology rollout accelerates. 5G networks are much faster and more efficient than previous generations, but they also introduce new security risks. For example, the increased use of edge computing could lead to more data being stored outside of traditional data centers, making them more vulnerable to attack.
There’s also the risk of cyber-physical attacks, where hackers gain control of physical devices like factory equipment or self-driving cars. These attacks could have serious real-world consequences, such as injuries or even fatalities.
Other important trends to keep an eye on include AI security, cloud security, and quantum computing. As these technologies become more widely adopted, they also become more attractive targets for bad actors.
What You Need to Do to Prepare for 2023
With all of these security concerns to keep in mind, what can you do to protect your organization? A good place to start is by educating your employees. After all, 82 percent of data breaches are caused by human error. Make sure your employees know how to spot a phishing email, for example, and that they understand the importance of good security hygiene.
Another important step is to implement multi-factor authentication (MFA). This adds an extra layer of security by requiring users to provide two or more pieces of evidence to gain access to systems and data.
Of course, it’s also crucial to stay up-to-date on the latest cybersecurity threats. This way, you can be aware of new vulnerabilities as they arise and take steps to protect your organization. Subscribing to security mailing lists and RSS feeds and attending security conferences are all great ways to stay informed.
In addition to staying informed, you should also make use of security frameworks. These provide guidance on how to best secure your systems and data. The National Institute of Standards and Technology’s (NIST) Cybersecurity Framework is a good place to start.
Investing in training and certification for your security teams is also important. This ensures that they have the skills and knowledge necessary to effectively defend your organization. It’s also a good idea to prioritize patch management. Keeping your software up-to-date is one of the best ways to prevent attacks, as many exploits take advantage of known vulnerabilities.
Don’t forget to back up your data. This way, if you do fall victim to an attack, you’ll be able to quickly recover your critical data and get back up and running.
Investing in the right security solutions is also crucial. This includes breach detection and response solutions, as well as cloud security solutions. Cloud security is especially important as more and more businesses are moving to the cloud.
Enabling automated threat intelligence sharing is another key step. This allows you to quickly and easily share information about threats with other organizations so that they can take steps to protect themselves.
Take Your IT Security to the Next Level
Cybersecurity is a complex and ever-changing landscape. By staying up to date on the latest security threats and trends, you can help keep your organization safe from attacks. And if you need assistance putting together a security strategy, The Launchpad is here to help. Reach out to us today and discover all we can do for you.