Security Trends in 2023 That Need Your Attention

In 1965, the famous co-founder of Intel, Gordon Moore, declared that computing power was set to increase exponentially for the foreseeable future. 

What this would bring with it no one saw coming.  

Commonly referred to as Moore’s Law, this phenomenon suggested that the number of transistors in a circuit will double roughly every two years. This would then lead to computational progress becoming significantly faster, smaller, and more efficient over time.

This has since come to fruition, and with the explosion of computing power and technological capability over the last several decades, there has been an explosion in another field as well—cyber hacking. 

This increase in computing power has been a double-edged sword. Although it has opened up a world of possibilities for advancements in healthcare, social services, work efficiency, and entertainment - it also has created a constant battle between cyber threats and cybersecurity. 

2022 saw a plethora of new, innovative cyber threats, and in order to keep your cybersecurity up to date and be prepared for what’s coming in 2023, it’s important to recognize the trends. 

1. AI-driven Attack Vectors 

AI-driven attack vectors, also known as “automated hacking”, are becoming increasingly popular amongst cybercriminals. With the recent explosion in the power of AI, this is one of the biggest trends to watch out for.

AI-driven attack vectors are capable of quickly and silently identifying and exploiting security vulnerabilities, allowing cybercriminals to gain access to sensitive data without leaving a trace. This makes these attacks harder to detect and significantly harder to prevent. 

As this technology becomes increasingly sophisticated, organizations must invest in AI-driven security solutions that can detect and respond to threats in real-time.

2. Cryptojacking 

Cryptojacking is a type of cyberattack that uses malicious code to hijack a computer’s resources and use them to mine cryptocurrency without the user’s knowledge or permission. This attack is particularly dangerous because it is highly profitable and relatively low-risk. 

2022 saw many cryptojacking attacks including one of the biggest in history, The Axie-Infinity $620 million dollar hack. 

These attacks can take many forms, such as stealing cryptocurrency through phishing attacks or using cryptocurrency mining malware to hijack a victim's computer and use its resources to mine cryptocurrency. To protect against these attacks, it is essential to use strong passwords, be wary of phishing emails or websites, and ensure that your computer is protected with up-to-date antivirus software.

As the growth of cryptocurrency and blockchain continues to increase, so too will the prevalence of cryptojacking attacks. Investing in comprehensive security solutions is essential for organizations seeking to protect their systems.. 

3. Cloud Security 

Cloud computing has revolutionized the way organizations store, manage and access data, but it has also opened up a whole new set of security risks. 

In early 2022, US-based digital platform FlexBooker suffered a cyber attack that involved 3.7 million users, after its cloud servers were hacked. The compromised data included names, email addresses, phone numbers, even passwords, and partial credit card information. This stolen data was then posted for sale on the internet. 

To mitigate such risks, organizations need to focus on cloud security measures like encryption, authentication, and access control. They must also ensure that they are using the latest versions of software and hardware with up-to-date security patches. 

4. IoT Security 

The number of connected devices is expected to continue to increase dramatically in the next few years, and with it, the risk of cyberattacks and data breaches. The increasing popularity of IoT devices, such as smart thermostats and security cameras, has also led to an increase in IoT-related attacks. 

These attacks can occur when hackers gain access to unsecured or poorly-secured IoT devices and use them to launch attacks on other systems or steal sensitive information. To protect against IoT attacks, it is important to ensure that your IoT devices are securely configured, use strong passwords, and regularly update the firmware on these devices.

6. Social Engineering 

Social engineering is a form of cyberattack that uses psychological manipulation to trick users into revealing confidential information or taking actions that could have a negative impact on their security. 

2022 saw some giant social engineering attacks, such as the US Department of Labor Scam. 

In January 2022, a highly sophisticated cyberattack designed to steal Office 365 credentials occurred. The attackers imitated the US Department of Labor and were successful in stealing hundreds of thousands of users' information. The scam is a noteworthy example of how convincing social engineering attempts are becoming.

Social Engineering is becoming more, and more of a threat as attackers become more sophisticated in their techniques. It’s important to be aware of the different types of social engineering attacks, such as phishing, vishing, smishing, and baiting, and to make sure that users are educated and aware of the risks. 

With the ever-growing increase in remote work, the vulnerability to social engineering attacks is growing daily. It’s of vital importance for your organization to have a cybersecurity system and education package designed specifically for remote workers. 

7. DDoS Attacks

A DDoS attack is an attempt to disrupt an online service by overwhelming it with artificially generated traffic. This traffic comes from a network of machines in multiple remote locations. 

In August 2022 Google reported blocking the largest-ever DDoS attack, which peaked at 46 mln requests per second. In a corporate blog post, the senior product manager for Google Cloud Armore compared the attack to “receiving all the daily requests to Wikipedia …in just 10 seconds.” It’s hard to wrap one’s head around such a big number. However, the magnitude of the DDoS attacks will probably keep growing even more in 2023. 

Such attacks are usually used to cause commercial damage to online services, or to hack servers and gain access to personal or commercial data. To protect your company from such attacks, you should use a multi-layer protection strategy, which includes training your team on cybersecurity, conducting regular risk assessment testing, deploying firewalls, and more. 

Preparing Your Cybersecurity For 2023

2022 saw some of the biggest cyber hacking incidents and it was a big year for advancements in both cyber hacking as well as cybersecurity. As the race between cyber ‘good-guys’ and ‘bad-guys’ rages on, there will be many more advancements coming in the future. 

It is of utmost importance to be aware of security trends and to be proactive in preparing for them, rather than simply waiting to react to an attack. 

A comprehensive security program is the best way to protect your data but building one can be costly and take time. If you can’t do it all at once, start with the basics:

Restrict access to sensitive data to only those who require it

Enable true multi-factor authentication for all employees

Use a password manager to generate and store strong passwords

Test your cybersecurity system with regular penetration tests

If prepared for properly, 2023 could be the best year yet for your business, as the current rate of technological advancements is something we haven’t seen before. Stay alert, stay safe, and stay prepared.