Phishing, ransomware, and other malware attacks will continue to terrorize the cybersecurity landscape in 2023, and businesses of all sizes should know what they’re up against. Every day, businesses and individuals are falling victim to hackers, malware, and other online threats. And if you're not careful, you could become the next victim.
In this article, we will discuss the top cyberthreats businesses need to watch out for in 2023.
Ransomware
The number of ransomware attacks nearly doubled in 2021 compared to 2020, with the FBI’s Internet Crime Complaint Center (IC3) receiving a record number of complaints: 847,376 reported complaints, or a 7% increase from 2020. Additionally, a global study revealed that ransomware went up by 33% in 2022. These statistics show that there's no stopping the rise of ransomware attacks, and this trend is expected to continue well into 2023.
The increasing prevalence of ransomware attacks can be attributed to several factors. For one, hackers are trying more sophisticated methods of attack and are becoming better at exploiting vulnerabilities in business IT systems. Also, companies are more willing than ever before to pay hefty ransoms to get their data back as they become increasingly reliant on digital records and technologies for their day-to-day operations. This has resulted in a booming underground industry where cybercriminals are making millions of dollars through extortion tactics.
In 2023, it is expected that even more businesses will be targeted by ransomware attacks as bad actors become increasingly bold and brazen in their efforts to extort companies out of money. Cybercriminals are also likely to take advantage of new security vulnerabilities created by technological advancements such as quantum computing or 5G networks.
Phishing
By 2022, phishing had become one of the go-to tactics for cybercriminals to gain access to computer networks. This is because scammers are taking advantage of the fact that launching phishing scams has a low technical difficulty and that many users remain unaware of IT security best practices, thus creating an IT environment ripe for exploitation. IBM's Cost of a Data Breach Report even highlighted this alarming trend.
As we move closer to 2023, phishing scams are predicted to become increasingly sophisticated and difficult for users to identify. As more businesses learn how to recognize and stop basic phishing attacks, hackers will be forced to come up with new strategies that are harder to spot. For instance, they may use fake websites or emails that mimic legitimate companies, as well as advanced techniques such as AI-generated emails or malicious software masquerading as a legitimate app.
Attacks on the healthcare sector
In 2023, there will be an increased danger to high-risk industries like healthcare and the sensitive data, like personal health information, housed within their walls. To combat this threat, companies should seriously consider getting support from experienced external partners for added resilience against these attacks.
Threats to IoT devices
Billions of Internet of Things (IoT) devices are estimated to be connected by 2023, and we must stay aware and alert. With the increasing popularity of 5G-enabled internet connectivity, every device — from vehicles to home appliances — is joining the revolution. But as we harness these breakthroughs for productivity and convenience, it's crucial to protect against threats, especially since many IoT vendors may not be taking cybersecurity seriously enough.
If you're using IoT devices at your workplace or residence, make sure you change passwords upon installation (if applicable) to thwart malicious actors trying their luck on vulnerable networks.
Start the new year right by being cybersecure
To protect against these threats, companies must implement strong cybersecurity measures such as multifactor authentication, secure passwords with regular updates, network segmentation/isolation techniques, and advanced firewalls with threat intelligence capabilities.
Additionally, companies should educate their employees about how to recognize phishing emails or other suspicious online activity that could indicate a potential attack. Finally, businesses should invest in a comprehensive backup plan so they can quickly restore their data if they become the victim of a successful attack.
Investing in robust IT security solutions and adopting protocols appropriate for your business needs will significantly reduce the risk posed by cyberthreats to your business in 2023. Consult the cybersecurity experts at USWired to learn how you can boost your IT system's defenses in the coming year.
