The Cyber Trends of 2023: Insights from Cyber Experts

                 Photo by Krzysztof Hepner on Unsplash

In the ever-evolving world of cybersecurity, it is crucial to stay ahead of the game and anticipate the upcoming trends and threats. To shed light on what the future holds, cybersecurity provider BeyondTrust recently conducted a webinar where their experts shared their predictions for the cyber landscape in 2023. In this blog post, we will delve into the five key trends that were highlighted during the webinar.

1. Vapourware: The New Ransomware

Ransomware attacks have been a growing concern, and in 2022, BeyondTrust predicted that these attacks would become more sophisticated. In 2023, a new form of ransomware, known as vapourware, is expected to emerge. Vapourware attacks are based on threats, even when no actual breach has occurred. For example, cyber criminals may send an email to an individual claiming to have infiltrated their home computers and obtained evidence of illicit activity. They then threaten to expose this evidence unless a ransom is paid. Similarly, entire organizations can be targeted with vapourware threats, where threat actors claim that their software has been compromised and demand a ransom in exchange for information on the breach. To protect against such attacks, it is crucial to verify any claims before engaging with threat actors and making payments.

2. Multi-Factor Authentication Fatigue

Multi-factor authentication (MFA) has been widely used as a secure platform to protect against stolen credentials. However, MFA fatigue is becoming a concern. Users may become less diligent about approving push notifications, which can allow threat actors to gain unauthorized access to their accounts. In addition, phishing techniques like proxy phishing, where spoofing websites are set up to capture credentials, are expected to become more prevalent in 2023. While MFA should not be abandoned, organizations need to explore alternative means of authentication, such as authenticator applications, to combat MFA fatigue and evolving phishing techniques.

3. Cyber Uninsurability

The cost of cybersecurity is increasing, and many organizations are struggling to afford cyber insurance. A study by Swiss Re Group revealed that around 90% of cyber risks remain uninsured. Moreover, some insurance providers are refusing to pay out after breaches, and exceptions to coverage are being introduced. To become more insurable, organizations need to implement safeguards for vulnerable attack vectors and governments can play a role in reducing insurance costs by enacting laws against ransomware payments.

4. Hackable Electronics

Single-use electronic devices, such as electronic lightsticks, have become popular accessories. However, these devices present vulnerabilities as threat actors can easily abuse them. Many of these devices operate on radio frequencies that can be easily decoded, allowing threat actors to intercept and manipulate signals. These devices often lack stringent security controls, making them an attractive target. To mitigate the risks, organizations should consider integrating encryption and other security measures into these devices.

5. The End of Cyber Terrorism

The payment of ransomware has been a significant source of income for organized cybercrime. To disrupt this cycle, countries may consider legislation against ransomware payments. By cutting off the monetary source, businesses will be forced to find new attack vectors or cease their operations. However, implementing such legislation can be challenging, as multinational organizations can find ways to circumvent it. Nonetheless, banning ransomware payments can drive organizations to strengthen their cybersecurity practices and explore alternative solutions.

As we look ahead to 2023, it is crucial for organizations to be aware of these emerging cyber trends and take proactive measures to protect their assets. By staying informed and implementing robust security measures, we can navigate the evolving cyber landscape with confidence.