What Cybersecurity Threats Are Coming in 2023?
The emphasis on data privacy laws, the introduction of 5G technology, and the increasing frequency of cyber-attacks are just a few factors that will shape cybersecurity in 2023. Here are some of the biggest cybersecurity threats to watch out for:
Data privacy laws will become more stringent.
With the General Data Protection Regulation coming into effect in 2018 and the California Consumer Privacy Act set to take effect in 2020, data privacy laws are only going to become more stringent. This will likely result in more companies being fined for data breaches, as well as an increase in class-action lawsuits against companies that mishandle consumer data.
The introduction of 5G technology will bring new cybersecurity threats.
5G is the next generation of wireless technology that promises faster speeds and lower latency than 4G. While 5G will provide many benefits, it will also introduce new cybersecurity threats. One example is the increased risk of denial-of-service attacks, which could take down entire networks.
The frequency of cyber-attacks will continue to increase.
Cyber-attacks are becoming more frequent, more sophisticated, and more costly. In 2019 alone, there were over 4,000 data breaches that exposed over 164 million records. And the average cost of a data breach is now $3.86 million. For law firms, the risk of a cyber-attack is especially high given the sensitive nature of the data they handle.
Ransomware will become more targeted.
Ransomware is a type of malware that encrypts a victim’s files and demands a ransom be paid in order to decrypt them. In the past, ransomware attacks have typically been indiscriminate, but in the future, they are likely to become more targeted. This could result in attackers demanding larger ransoms, as they will be able to specifically target high-value victims.
IoT devices will be increasingly exploited.
IoT devices are becoming more and more common, but they are also becoming a bigger target for cyber-attacks. That’s because many IoT devices are poorly secured and lack basic security features. As a result, attackers can easily gain access to them and use them to launch attacks on other devices on the network.
AI will be used to launch new types of attacks.
AI is being used by cyber-criminals to automate the process of launching attacks. This includes creating fake websites and emails that are designed to trick victims into giving up their personal information or downloading malware. AI is also being used to create realistic audio and video files that can be used in phishing attacks.
Cryptocurrency will continue to be a target for criminals.
Cryptocurrency exchanges have been a popular target for cyber-criminals, as they offer a way to anonymously launder money. In 2019, over $1 billion worth of cryptocurrency was stolen from exchanges. And as the price of Bitcoin and other cryptocurrencies continues to rise, it’s likely that we’ll see even more attacks on exchanges in the future.
Nation-state actors will increasingly target critical infrastructure.
Nation-state actors are groups that are sponsored by governments to conduct cyber-attacks. In the past, they have primarily targeted other nation-states. However, in recent years, there has been an increase in attacks on critical infrastructure, such as power grids and water treatment facilities. This is likely to continue, as nation-state actors look for ways to disrupt the operations of their enemies.
These are just some of the cybersecurity threats that we can expect to see in the coming years. As the world becomes more connected, and as new technologies are developed, it’s likely that we’ll see even more new and sophisticated attacks. It’s important to stay informed about the latest threats so that you can be better prepared to defend against them.