3 Imminent Cyber Security Threats and Trends for 2023

Laptop with animated cyber lock coming out of the screen
3 Imminent Cyber Security Threats and Trends for 2023

Every year, new threats to businesses and customer information emerge as more and more businesses utilize technology. The need for new cyber security measures is growing as a result of the estimated 30,000 websites and 4 million smart devices that are compromised daily. In the piece that follows, we’ll discuss some of the trends we’ve noticed in the cybersecurity industry and possible safeguards you can take to guard yourself against looming online risks to your company’s operations. 

1. Mobile Devices are Being Highly Targeted for Cyber Threats

More individuals are using their phones and tablets to carry out daily tasks as a result of the more recent exponential expansion and evolution of our mobile devices. Our highly capable mobile devices end up accumulating a lot of personal data as a result, which cybercriminals have begun to exploit. Businesses are increasingly depending on these tools as well with the expansion of remote work which makes it even more lucrative for attackers.  

Because of the capabilities of the smartphone, breaches from mobile devices can have a wide range. Any number of things, including connecting to unsecured wi-fi, voice phishing attacks, and data leaks from the apps you use. Additionally, there has been a recent rise in mobile ransomware, which can take the operating system of your phone hostage in exchange for a specified payment. 

Make sure your software is always up to date and make sure you are downloading programs from your official app store if you want to protect yourself from the growing number of mobile threats. This by itself will drastically lower your chance of a breach affecting you personally or your company. 

2. Increased attacks on IoT (Internet of Things) Devices 

I’ll wager that some of the items listed below are present in your home or business. Smart TVs, Google Home or Alexa devices, ring alarms or home security systems, activity trackers (such as the Apple Watch, Whoop, or Fitbits), any linked appliances, smart office equipment, etc. It’s likely that you are working with more than a few smart devices right now as there are over 20 billion of them online (and growing) currently. While these devices increase efficiency, improve work safety, and increase revenues and profitability, the fact is most of these items are unsecured and open for attack.  Recent studies have shown that an estimated 60% of these connected smart devices are unsecured… That is 12 billion unsecured devices!  

 Much like mobile devices, making sure your firmware is up to date will provide optimal security conditions. 

3. Cloud Computing Exploits 

The cloud has grown increasingly valuable as an attack target as more companies move their operations and data storage there. Even while a limited fraction of cloud service providers offers sufficient security, the majority still do not offer data encryption, authentication methods, or audit logging to assist in protecting corporate data. Sensitive client information may be in danger on both your end and theirs as a result of this vulnerability. While companies work to catch up to ideal standards, properly evaluating cloud storage companies’ security procedures will help prevent avoidable losses. 

 Technology is evolving and will continue to do so at a rapid pace. With more individuals and businesses taking on tech-based products to help improve efficiency and overall quality of life it is always important to make sure your online devices and storage are properly secured. Breaches will continue to happen, but one of the best things you can do for yourself or your business is not to be an easy target. The more locked down your systems are the more effort it will take to compromise which will in turn be less appealing to cyber criminals. Along with securing your systems and devices, it is always a good idea to have a cyber liability policy in place in the event that your business is hacked. Cyber liability insurance could absolutely prevent you from a catastrophic loss and help get you and your business back up and running swiftly. 

If the topic of cybersecurity trends interests you and how it can affect your business or if you are interested in seeing how you can protect your business against these threats, contact The Staples Agency. We have specialists in the technology field that can help walk you through potential exposures and how to protect your business from the financial fallout of a data breach.

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