As technology evolves and cyber criminals step up their game, the cybersecurity landscape is becoming more complex and challenging to navigate. With cyberattacks increasing in frequency and sophistication, businesses must stay informed about the latest cybersecurity trends and threats. As we move into 2023, here are several emerging cybersecurity trends that are worth paying attention to:
Ransomware Is Everywhere
Ransomware has been a significant cybersecurity threat in recent years that is expected to become even more common and cause more damage. These attacks are planned and executed by organized gangs and can lock up a company’s systems and data until a ransom is paid. Cybersecurity experts predict that ransomware will cost victims $265 billion annually by 2031, and an attack will occur every two seconds.
IT and Cybersecurity Skills Shortage
The shortage of skilled cybersecurity professionals is a growing concern for businesses, with the cybersecurity workforce gap increasing by 26% in 2022. As a result, businesses are turning to managed services providers for their cybersecurity needs, and with the skills shortage expected to continue in 2023, leveraging managed service providers will continue to be the way many businesses protect their systems and data.
Increased Risk Due to Remote Work
A recent report found that 20% of organizations experienced a security breach because of a remote worker. But it also found that 44% of the businesses did not provide cybersecurity training for their employees, and 65% didn’t install antivirus software on work-issued devices when both security awareness training and endpoint security could have prevented many of these breaches.
Pandemic-Driven Security Purchases
The COVID-19 pandemic emphasized the importance of cybersecurity for businesses, prompting many organizations to invest heavily in securing their networks and data. Now that the pandemic is over, the threat of cyberattacks is still growing, and attack strategies are constantly evolving, so it is not time to be complacent with cybersecurity. It should remain a priority.
Evolving Social Engineering Tactics
Social engineering tactics have evolved and are becoming much more complex, with scammers using techniques like spear phishing and malware to trick people into divulging confidential information. Employees must remain vigilant to these everchanging tactics, and companies can help by implementing robust cybersecurity policies and providing regular security awareness training.
Increased Need for Cyber Insurance
A 2022 survey found that only 19% of organizations had ransomware coverage limits above $600,000. Cyber insurance is something businesses need to invest in because it will not only minimize losses when the worst-case scenario occurs but will keep insurance premiums low if they get a policy before an attack occurs.
Cybersecurity trends indicate threats are constantly evolving, and businesses need to stay ahead of the curve to protect themselves and their customers. With a shortage of skilled cybersecurity professionals, working with a managed service provider is essential to reduce your business’s vulnerability to cyberattacks, protect its data, and safeguard its reputation.
To learn more about how a managed cybersecurity services provider can help protect your business, contact a security expert.