Cybercriminals continue to adapt to the latest technologies, & practices but organizations can stay one step ahead of threat actors by implementing strong cybersecurity measures. 

Below is a look at how cybercrime will evolve in 2023 and what we can do to secure and protect our organization. 

1.     Increase in Digital Supply chain attacks 

The introduction of new technology around software supply chains means there are possible security holes that are yet to be identified and need to be uncovered. 

If we have or are planning to introduce new software supply chains to our technology stack, then we must Integrate Updated Cybersecurity configurations and Employ People and Processes that have experience with Digital supply chains to ensure that security measures are implemented correctly. 

2.     Mobile-specific cyber threats are on-the-rise

With the increased use of smartphones in the workplace, mobile devices are becoming a greater target for cyber-attack with no signs of slowing down in the new year. 

Threat Actors / Hackers hone in on mobile devices and SMS-based authentication has inevitably become less secure. We need to move to multifactor authentication (MFA) which is more secure and includes an authenticator app which uses time-sensitive tokens or more direct hardware or device-based authenticators.  

3.     Double down on cloud security 

As more organisations opt for cloud-based activities and we also rely on them more frequently, cloud security needs to be one of the top priorities.   

The most reliable safeguard against cloud-based cybercrime is a zero-trust philosophy. The main principle behind zero trust is to automatically verify everything and this is very critical when we are protecting data and related infrastructure stored in the cloud from threats. 

4.     Ransomware-as-a-Service is here to stay

Ransomware attacks have become increasingly targeted and continue to increase at an alarming rate year over year. There is also increased use of Ransomware-as-a-Service (RaaS) wherein  the ransomware criminals lease out their infrastructure to other threat actors/cybercriminals.

To increase protection against threat actors who use RaaS, enlist the help of your End-users as they are the frontline against ransomware attacks, but they need proper training to ensure they're protected. Cybersecurity procedures need to be clearly documented and regularly practised so that users can stay aware and vigilant against security breaches. Also using backup measures like password policy software, MFA whenever possible, and email-security tools can also mitigate the onus on end-user cybersecurity. 

5.     Data privacy laws are getting stricter—get ready

With new data privacy laws coming into effect, now is the time to assess our current procedures and systems and see if they are compliant.  

Data privacy laws often require changes to how companies store and process data and implementing these new changes might open additional risks if they are not implemented carefully. We need to ensure our organization is in adherence to proper cyber security protocols, including zero trust etc. as mentioned above.