Emerging Threats in Cybersecurity: What to Watch Out For in 2023

Since the latter part of the ’90s, when the dot-com boom ushered the world into the online era, cybersecurity has been an extensive concern.

Fast forward over two decades, and we find ourselves in a situation where extraordinary events such as the COVID-19 pandemic, contested elections, escalating sociopolitical unrest in various regions, and increasing cybercrimes have led to a surge in demand for cyber security services in Chicago within just a few years.

Security threats will likely evolve into more intricate and, consequently, more costly challenges as time goes on. Experts are anticipating that the worldwide expenses associated with cybercrime will soar to $10.5 trillion by 2025, representing a 15% increase from the $3 trillion recorded in 2015.

Here, we’ve dissected the foremost cybersecurity threats to be on the lookout for in 2023.

Cybersecurity Threats

Cloud Vulnerability

Cloud storage offers numerous benefits, including encrypted servers with restricted access, consistent cybersecurity protocols, and inherent firewalls, among other advantages.

While cloud storage, in general, offers enhanced security compared to traditional file storage on a hard drive, it still carries specific hazards.

The National Security Agency has issued warnings regarding four categories of cloud susceptibilities — misconfigurations, inadequate access controls, shared tenancy, and vulnerabilities in the supply chain.

Mobile Malware

Mobile malicious software, disguising itself as genuine and innocuous applications like QR code scanners, torchlights, and games, has become increasingly prevalent across both official and unofficial app marketplaces.

These endeavors to infect mobile devices have expanded beyond counterfeit applications to illicit and customized iterations of authentic apps.

Cybercriminals are distributing unofficial app variants in the form of malicious APKs through direct downloads and third-party app platforms.

These applications are strategically crafted to exploit their recognizable names and infiltrate corporate employees’ devices with malware.

Configuration Errors

In 2023, the sustained collective repercussions of the COVID-19 pandemic. Socio-political turmoil and ongoing financial strain are anticipated to amplify the frequency of inadvertent errors committed by employees in the workplace. Consequently expanding the pool of exploitable opportunities for cybercriminals.

Per findings from a Lyra Health study, 81% of workers have encountered mental health challenges attributable to the pandemic. With 65% of employees reporting a direct impact on their job performance due to mental health issues.

This added strain will only worsen an existing dilemma: as per the Ponemon Institute, half of IT professionals acknowledge their lack of clarity on the effectiveness of the cybersecurity tools they’ve implemented, implying that at least half of IT experts are currently not conducting regular internal testing and maintenance.

Poor Cyber Hygiene

“Cyber Hygiene” pertains to habitual and routine actions concerning technology utilization, such as refraining from unprotected WiFi networks and deploying protective measures like a VPN or multi-factor authentication. Regrettably, studies reveal that the cyber cleanliness practices of Americans leave much to be desired.

Due to a surge in remote work, access to systems secured with feeble passwords is now happening via unsecured home networks. Sticky notes bearing passwords are cropping up in public coffee shops, and individuals are signing in on personal devices that carry a considerably higher risk of being misplaced or stolen.

Entities and individuals who fail to enhance their cyber routines are now facing significantly greater risks than in the past.

Astoundingly, even IT experts often exhibit subpar cyber cleanliness habits compared to the general populace. 50% of IT professionals confess to recycling passwords across their workplace accounts. As opposed to just 39% of the general population.

Erasing Programs and Destructive Malware

Despite ransomware and data breaches garnering significant attention as threats to corporate data security, erasing programs and other destructive malware can yield even more profound business consequences.

Instead of compromising information or demanding a ransom for its retrieval, erasing programs eradicate the data.

While erasing programs has been comparatively uncommon historically, they witnessed a resurgence in 2022. Several erasing program variants were developed and put into action against Ukraine as part of its conflict with Russia.

Other nations, including Iran and Albania, have also become targets of destructive cyberattacks, underscoring its increasing popularity as a tool for hacktivism and cyber warfare.

Surge in Automotive Hacking

In the present day, contemporary automobiles come equipped with sophisticated software. Facilitating seamless connectivity for drivers in functions such as cruise control. Engine timing, door locking, airbag deployment, and advanced driver assistance systems.

These vehicles employ Bluetooth and WiFi technologies for communication. Which also exposes them to numerous vulnerabilities or risks from malicious actors.

The anticipation is that the prevalence of gaining control over vehicles or utilizing microphones for covert listening will increase in 2023 as the adoption of automated cars continues to grow.

Self-driving or autonomous vehicles employ an even more intricate mechanism that necessitates stringent cybersecurity measures.

Conclusion

These 2023 cybersecurity trends are poised to instill greater apprehension in organizations, prompting them to bolster their security measures. Anticipated is an unprecedented expenditure by organizations, surpassing $100 billion solely for safeguarding their assets this year.

Given that infrastructure security now constitutes a substantial component of virtually every organization. Embarking on a cybersecurity learning journey today to attain expertise for the future would be a prudent decision.

In the realm of the IT industry, proficient and seasoned cybersecurity professionals rank among the highest earners.