Blog  |  News Cybersecurity in 2023 à la WEF Insights Report

Bow Tie Security guides you through five trends

Five trends will play a leading role in developing cybersecurity in 2023. The success of new technologies is making cybercrime a booming business, and this evolution calls for a new way of approaching security. Discover the five trends to guide your strategy for cybersecurity in 2023 and the years to follow.

Trend 1: “They want your money … from any business.”

In 2023 hacking is no longer about the threat to make data public but about undermining your business. These days, hackers will use ransomware to block your systems. By paying them, hackers will give you the key to unlocking everything. And they apply that recipe to any business from any sector. Some hacked companies got lucky and dealt with hackers with a modicum of ethics. Last year a healthcare facility even received an apology: “We apologise for taking down your system. We did not know you were a healthcare facility.

Therefore, we are happy to give you the malware key at no cost. Best regards, the hackers.” But at Kaseya, the hackers managed to commit a supply chain attack with which they hacked the 1,500 customers as well. Closer to home, Casa went down. Because the hackers blocked the system, shop clerks did not know how to check out customers’ purchases and how that data would get into the accounts.

Trend 2: “The world is on fire, which gives room to hackers.”

The geopolitical situation plays into the hands of hackers. As half the world is at war and the other half gets indirectly involved, there are other priorities than cybersecurity in 2023. That’s why we see the number of attacks increasing. Business owners and information managers want to learn how hacking works to install the proper protection from that knowledge. Hence, the growing importance of Third Risk Party Management during 2023.

As of now, European legislators embedded stricter safety regulations in the NIS2 Directive: in addition to maximising your security, you must actively check the reliability of your business partners.

Trend 3: “Hackers are faster than security experts.”

That the innovation of new tools and platforms is lightning-fast is an open door. That, too, is causing cybersecurity problems in 2023 because hackers are faster than entrepreneurs. Building watertight protection takes time, and innovative tools create new breaches in the defensive wall. It is crucial to close these before eager hackers use the gaps to penetrate your business system. So in 2023, keeping up with innovation and constantly updating cybersecurity is more of a challenge than ever.

Trend 4: “Legal regulations provide more and more guidance.”

At the World Economic Forum, regulations came up for discussion. Entrepreneurs often demand the freedom to do business without running into restrictive laws. But for cybersecurity, those regulations provide a welcome handhold. Entrepreneurs then take the extra costs caused by regulations in exchange for the framework provided. There are still many questions: ‘How do I tackle cybersecurity sustainably rather than makeshift?

And how do I maximise protection throughout my business rather than by separate departments?’ That’s why regulations such as NIS2 are so promising. Because you can see them as a guideline and a roadmap for baseline security for your business. That way, even the CEOs who did nothing until now can start working on cybersecurity in a focused way in 2023.

Trend 5: “We want to hire but can’t find any cybersecurity experts.”

Finally, another problem that has been in the air for much longer is the need for more experts. ‘There are no skilled people.’ Well, you can’t clone them on the model of the best in class. It takes time to train in effective cybersecurity, so everyone must understand the importance of security issues. Because the higher we get cybersecurity on the business and political agenda, the faster additional resources for proper training will come.

That way, there will be considerably more experts to meet the demand. But for now, more security professionals are needed to ease the pain point for entrepreneurs.

*Discover the full WEF Report 2023

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