19 Cybersecurity Trends Every CISO Must Prepare for in 2023

We saw numerous cybersecurity breaches in 2022. The attacks became more sophisticated, the bots got sneakier, and the cost of breaches multiplied.

Yet, enterprises were underprepared to deal with the well-known threats. With the rise of new technologies and the increased adoption of remote work, cybercriminals have quickly adapted their tactics. They are now targeting businesses in ways never seen before.

As a result, every organization needs to realign its cybersecurity goals and processes to meet the changing needs of the threat landscape. CISOs must stay ahead of the curve and be prepared for the cybersecurity trends defining 2023.

1. Ransomware Attacks Will Continue Wreaking Havoc 

Ransomware attacks continuously made headlines in 2022. In H1 2022, 236.1 million ransomware attacks took place. It took about 49 days just to detect these attacks. And this caused the cost of these attacks to shoot up. 71% of businesses were ransomware victims in 2022.

One of the top cybersecurity trends in 2023 is that ransomware attacks will continue to trouble organizations.

Why so?

More companies are normalizing remote work. But security policies and processes to secure all endpoint devices aren’t as mature.

As a result, we see the initial infections for ransomware attacks coming from these remote, personal devices. There is a need to be well-prepared with endpoint defense.

State-sponsored ransomware, including attacks on critical infrastructure, is rising.

25% of companies that faced ransomware attacks were forced to shut down their operations. So, invest in security solutions that will help you protect against ransomware.

Best practices to minimize ransomware’s impact:

• Maintain regular backups
• Develop an incident response
• Disaster recovery

2. Critical Infrastructure Protection 

Critical infrastructure, including ICS (Industrial Control Systems) and OT (Operational Technology), was a top target for cybercriminals in 2022.

By attacking critical infrastructure, attackers can disrupt people’s daily lives, disrupt supplies of essentials, and bring the entire economy to a grinding halt.

For instance, the Colonial Pipelines ransomware attack in 2022 took down its entire network. As a result, its production came to a grinding halt. The gas supply to the eastern coast of the US was affected.

Further, the ongoing Russia-Ukraine war has shown us how geopolitical conditions affect cybersecurity. Given the increased possibility of a global recession, the chances of bad actors and rival states attacking critical infrastructure are high.

Critical infrastructure protection (CIP) is a top 2023 cybersecurity trend. If you deal with critical infrastructure,

• Ensure your IT and OT departments collaborate proactively to find vulnerabilities
• Invest in real-time threat detection and prevention solutions
• Keep hardening your defenses and maintain centralized visibility into your attack surface

3. Beware of Supply Chain Attacks  

Another key cybersecurity trend 2023 to prepare for is the increase in supply chain attacks. The attacks have increased by 742% in a matter of 3 years.

Several high-profile supply chain attacks happened in 2022, including the GitHub OAuth token attack, Fishpig (Magneto vendor) hack, and Okta breach.

Today’s software projects have an average of 204 dependencies. Java applications have nearly 148 dependencies. Even if one of these vendors/ components is breached, every company in the software supply chain will be affected.

The supply chain threat is particularly noticeable for companies using open-source software and components. 88,000 open-source packages were found to be malicious in 2022.

Many organizations believe that they are safe by securing just their IT infrastructure. But the reality is that your 3^rd party service provider’s security directly impacts your security.

You must be very careful and thorough about choosing your open-source packages. Here are a few factors to consider:

• Don’t choose software/ components with known vulnerabilities
• Choose your vendors after rigorously vetting them
• Establish proper vendor selection, management, and governance policies
• Perform regular security audits to ensure they are secure and compliant
• Invest in centralized visibility and next-gen security solutions

4. Bad Bots Are Becoming More Sophisticated 

Yes. Bad bots are becoming more complex and evasive. They can seamlessly bypass even WAFs and security solutions.

Attackers use bots widely, from spreading malware and scraping content to targeting networks/ apps with DDoS attacks. In 2023, attackers will find new and innovative ways to deploy bots to accomplish their malicious goals.

As a CISO, you need to invest in advanced bot mitigation solutions to strengthen cybersecurity in 2023.

• The solution should be equipped with behavioral and pattern analysis, fingerprinting, and workflow validation. This will help to detect and stop anomalous behavior.
• Security experts must fully manage the solution. These experts will write custom rules to thwart complex bot attacks that even advanced solutions cannot do alone.

5. Watch Out for Insider Attacks

Insider threats continue to pose a significant challenge, as indicated by the analysis of historical data. Over the past two years, the cost of resolving insider security problems has climbed by 34% from $11.45 million to $15.38 million.

Additionally, the frequency of insider-led incidents surged by 44% in 2022. The trend will continue in 2023.

The mainstreaming of hybrid work will intensify the threat of insider attacks. From corporate espionage and malice to social engineering, insider attacks will be more targeted. Some of the causes of insider attacks are as follows:

• Authentication and authorization errors
• Poor access controls
• Human errors
• Storing data in insecure devices
• Use of insecure personal devices

CISOs need to use comprehensive security measures to control insider threats in 2023. This should include the following:

• Cyber-hygiene
• Forensic data collection
• Policy-level measures
• Disciplinary action against malicious insiders

6. Zero Trust Isn’t Just a Buzzword Anymore

The increase in the criticality of zero trust is another top cybersecurity trend in 2023. In 2022, Zero Trust Architecture (ZTA) wasn’t just a buzzword or a good-to-have security measure. It has become a cybersecurity best practice with increasing adoption.

Zero trust is becoming increasingly popular as organizations face many cyber threats. As more organizations adopt zero-trust principles, we will likely see continued innovation. We believe more organizations will (and should) invest massively in ZTA.

Zero trust can be implemented in a variety of ways:

• Multi-factor authentication
• Network segmentation
• Continuous monitoring of user behavior

Implementing these measures can significantly reduce the risk of data breaches and other cybersecurity incidents.

7. Zero Trust Has Implementation Challenges

While companies accelerate the adoption of ZTA in 2023, there are high risks of missteps in implementation.

For instance,

• Building low trust instead of no trust architectures due to poor understanding of trust relationships. This opens up companies to several security risks
• Lack of cultural and educational investments, which leads to poor adoption of zero trust
• Using ZTA as a silver bullet solution to cybersecurity. It is but a part of security and should be treated that way

8. API Security Is Indispensable

Earlier, Gartner predicted that in 2022, the APIs would become a major target for cyberattacks. Unfortunately, this prediction has come true.

APIs are becoming increasingly popular for different software systems to communicate and exchange data. However, this increased use has also made them a prime target for hackers seeking to exploit API code or architecture vulnerabilities.

Some common attacks on APIs include injection attacks, where malicious code is inserted into an API request, and denial-of-service attacks, where hackers overload the API with fake requests, causing it to crash or become unavailable.

As APIs play a critical role in modern software development, it is crucial to prioritize API security and take proactive measures to defend against potential attacks.

9. Entry Hurdles for Cybercriminals Will Keep Decreasing

Today, cybercriminals don’t need to be tech wizards or have lots of experience. The easy availability of exploit kits, bots-for-hire, etc., has lowered the barriers to entry for cybercriminals.

These barriers will lower even further if there is an economic downturn in 2023. As more people search for a quick and easy buck, more hackers will be available for hire.

This is another cybersecurity trend 2023 to watch out for and prepare for.

10. The Attack Surface Will Continue to Widen

We already have an upsurge in using APIs, cloud technology, and IoT devices. These are already widening the attack surface. Rolling out 5G high-speed network services adds a new dimension to the threat.

Attackers have several endpoints/ components to pick and exploit between the connected devices and high-speed internet connectivity.

In 2023, you need to focus on securing your attack surface and hardening your security posture.

11. Focus on Cyber Resilience

Despite all the investment in robust security, data breaches are inevitable.  According to Acronis’s prediction, the average cost of a data breach is set to reach $5 million in 2023.

What matters is how effectively you can prevent, withstand, and recover from these breaches.

A top cybersecurity trend in 2023 is an increased need for cyber resilience.

Right from your SDLC stages, you must prioritize cyber resilience while proactively managing risk. The security tools and processes must help you anticipate risks and prevent incidents. It must also help you recover quickly from cyber incidents with minimal costs.

12. Automation and AI are the Future of Cybersecurity 

This is not just a cybersecurity trend for 2023 but for the future. Cybercriminals are leveraging the best-in-breed technology and tools to orchestrate breaches. Organizations must leverage automation, AI, and ML to counter complex threats.

• Automation infuses agility, flexibility, and accuracy into security.
• AI, ML, and analytics help you analyze large data points and unearth anomalous behavior and patterns.
• You can detect and block even the most sophisticated attacker behavior.

In a study conducted by Cyber Security Hub,  19 percent of cybersecurity professionals revealed that their organizations are investing in AI and automation for cybersecurity.

On the other hand, cybercriminals are also adopting AI and ML to amplify their attacks. Hence their ability to carry out more extensive and complex attacks will be significantly enhanced. It probably makes 2023 a year of larger and more sophisticated attacks.

Human Impersonation on Social Networking Platforms, AI-support password guessing, and Deepfakes are a few examples of AI misuse.

Hackers have already started experimenting with ChatGPT, an openAI chatbot, for writing malicious codes and creating hacking tools. Although the creator of OpenAI has incorporated several measures to prevent using AI for malicious purposes, businesses must be prepared to protect against advanced attacks.

13. Attackers are Outsmarting Security Technologies

Cybercriminals continuously find ways to sidestep security technologies like MFA (multifactor authentication), and EDR (endpoint detection and response) technology. With constantly changing malware signatures, hackers can escape static security tools like intrusion detection systems.

We may see EDR evasion tools for sale in the black market in 2023. CISOs need to consider the risks of adopting such technology. You also need to watch the developments on this front closely.

14. Social Engineering Attacks Galore 

In H1 2022, 255 million social engineering attacks were recorded. Spear phishing, social media phishing, deep fakes, and e-commerce scams were popular attack types.

Attackers are becoming more creative in coaxing unsuspecting victims into doing their bidding. Social engineering attacks, we believe, will boom in 2023.

As a CISO, you must anticipate these attacks and take strong preventive steps.

15. Evolution of Authentication Measures

Numerous institutions, ranging from tech companies to state universities, have embraced Multifactor Authentication (MFA) to ensure security. Efforts to simplify methods of verifying user identity are also underway.

Additionally, public and private sector entities enforce MFA as part of their user and/or employee policies to enhance security measures. The latest firm to join the trend is GitHub, which has stated that it will introduce two-factor authentication (2FA) in 2023 to bolster the security of its code repository service.

16. Crypto Cybersecurity Trends in 2023 

We saw several large-scale crypto hacks in 2022, such as the Ronin Network (USD 620 million lost), the Wormhole Bridge hack (USD 320 million lost), etc.

Investors lost USD 3 billion to crypto hackers across 125 incidents as of October 2022. These incidents will only increase in 2023, and companies using cryptocurrency need to be better prepared.

17. The Global Recession & Cybersecurity Trends in 2023

A global recession is likely to occur in 2023. And this will impact cybersecurity trends in 2023 in the following ways.

• Organizations will be forced to make cutbacks in resources and security budgets.
• With weakened defenses, threat actors will have more opportunities to launch attacks through various vectors, with email being a primary target.
• The increase in successful breaches across all industries will directly result from this asymmetry.

18. Multi-vector Cyberattack on the Rise

In June 2022, the largest-ever DDoS attack was directed toward a Google Cloud Armour user. The attack lasted for 69 minutes and was conducted using HTTPS. The attack involved 5,256 source IPs from 132 countries, making it the largest Layer 7 DDoS attack ever reported. Google stated that it was 76% bigger than the previous record.

The increasing size of DDoS attacks has inspired hackers to carry out multi-vector attacks. It overwhelms companies by attacking them on multiple fronts.

While companies try to mitigate one threat vector, they will simultaneously be targeted by another. This means businesses must tackle various threat vectors concurrently.

Preventing multi-vector cyberattacks involves implementing measures that address different attack vectors. Here are some steps:

• Keep software and systems up to date: Many attacks exploit vulnerabilities in software and systems. Keeping them up to date with the latest security patches and updates can help prevent these types of attacks.
• Monitor network activity: Monitoring network activity can help detect unusual activity indicating an ongoing attack.
• Implement network segmentation: Separating different parts of a network can help prevent the spread of an attack from one area to another.

19. Transparency About Security Practices Matters 

Transparency about cybersecurity practices is indeed a trend to watch out for. In recent years, we have seen a growing awareness among organizations and the public about the consequences of data breaches and cyberattacks.

As a result, there is an increasing demand for organizations to be more transparent about their cybersecurity practices.

Transparency about cybersecurity practices can take various forms, such as making security policies and procedures publicly available, providing regular updates on security incidents and breaches, and allowing third-party audits and assessments of security practices.

When a cybersecurity incident occurs, you need to inform your stakeholders, telling them what you are doing to mitigate the attack now and what steps you are taking to prevent future attacks.

When organizations don’t disclose breaches, it invites non-compliance fines and damages reputations. You need to be honest and transparent to nurture trust among customers and stakeholders. Of course, you don’t have to say everything; but the messaging needs to be clear and open.

Conclusion

CISOs must prepare for these cybersecurity trends in 2023. It’s important to note that these are just predictions and trends identified based on available information in 2022.

By prioritizing cybersecurity, reduce the risk of business disruption, financial losses, and irreparable reputational damage.

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