Industry executives and experts share their predictions for 2023.  Read them in this 15th annual VMblog.com series exclusive.

Top Cybersecurity Trends to Watch for in 2023

By Allen Jenkins, CISO and VP of Cybersecurity Consulting for InterVision

The "if, not when" mentality associated with ransomware is perhaps the greatest threat to modern business longevity. Organizations of all sizes and industries across the world are becoming victims of ransomware attacks as overall attack volume increases precipitously. However, many organizations continue to use outdated security protocols that are ill-equipped to combat modern ransomware. An updated cybersecurity strategy will prove critical for organizations looking  to combat rising attacks in the new year.

Ransomware's increasing presence across all industries - and the tactics that IT leaders employ to fight it - will guide the cybersecurity industry next year. On that note, here are a few top-of-mind predictions for 2023.

The rise in Ransomware as a Service (RaaS) has put the entire market in a state of disarray. For bad actors, ransomware's barrier to entry has lowered significantly, leading to a stark increase in the number of attacks. The lucrative RaaS business model suggests a hard truth: organizations can be impacted at any time and in any place, both abroad and at home.

Business leaders must remain cognizant of these new threat actors and defend their data against impending attacks. Cyber hygiene continues to be a common denominator in fending off a ransomware strike - protections like asset, vulnerability and credential management are of vital importance. As attacks of this caliber increase and business leaders become more familiar with the sheer number of threats we face, the ransomware and cybersecurity markets will likely enter a period of flux to adapt to new threat vectors, leading to the adoption of innovative cybersecurity protocols.

Government oversight and regulations have become increasingly prevalent and can point enterprises in a positive direction in their fight against ransomware. However, these laws are focused on overall infrastructure, not the day-to-day corporate landscape. So if businesses are only following the letter of the law and nothing more, the risk of a cyberattack remains. The best way to boost these measures is to seek out additional information about cyber insurance and other digital protection strategies, such as a Ransomware Protection as a Service (RPaaS) solution.

We've all heard that attacks against critical infrastructure are on the rise, but in recent years, we've seen these attacks adapt to other vulnerable industries. Historically, energy and telecommunications facilities have been primary ransomware targets. But malicious actors have started to shift their focus to the global supply chain. The threat of supply chain-targeting ransomware introduces availability trade-offs and further complicates the 2023 production pipeline. This year, procurement leaders will prioritize a new goal: refining their disaster recovery strategies to make them more robust, responding as soon as possible to these events and maximizing assurance in the eyes of their customers.

"Defense in depth" has been a popular cybersecurity buzzword for years. Now we have switched to "zero trust." These phrases are different, but the basic concept is the same. There is no one-size-fits-all solution to an enterprise's cybersecurity concerns. The only fail-safe solution is to prioritize top-down solutions that understand, prioritize and protect an organization's core functions. A zero trust approach contributes to a powerful cybersecurity strategy that evolves with the organization, rather than remaining static once implemented.

Ransomware attacks are inevitable, but security breaches are not. Strong cyber defenses help organizations prevent outages to mission-critical services. Enlisting the help of a verified partner or educating your peers on the importance of cyber defense can make the difference between doing business as usual and suffering millions in financial losses. Next year, we'll see more IT and business leaders adopt this line of thinking as we slowly shift into a "when, not if" mentality toward ransomware.

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ABOUT THE AUTHOR

Allen Jenkins is the Chief Information Security Officer and VP of Cybersecurity Consulting at InterVision, a leading managed services provider, delivering and supporting complex IT solutions for mid-to-enterprise and public sector organizations throughout the US.