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Cybersecurity Trends You Should Watch Out for in 2023

by | Dec 27, 2022 | Security, Small Business

The new year is a week away. It’s a time of renewal as we plan for the cybersecurity possibilities to come in 2023. It’s also a time when you need to prepare for resiliency in the face of cyberattacks.

Sixty-eight percent of surveyed business leaders feel that cybersecurity risks are getting worse. They have a good reason. Attacks continue to get more sophisticated and are often perpetrated by large criminal organizations. These criminal groups treat these attacks like a business.

In 2021, the average number of global cyberattacks increased by 15.1%.

Protect your business in the coming year. It’s essential to watch the attack trends.

It is difficult to predict what specific cybersecurity threats will be prevalent in 2023. However, some general trends will continue and evolve in the coming years. These include:

Increased Phishing Using AI & Machine Learning

These days, phishing emails take more work to spot. It used to be that they nearly always had spelling errors or grainy images. While some still do, most don’t.

Criminal groups elevate today’s phishing using AI and machine learning. Not only will it look identical to an authentic brand’s emails, but it will also come personalized. We predict attackers will use tools like ChatGPT to create more convincing phishing messages. They generate responses designed to trick victims into revealing sensitive information or clicking on malicious links.

Ransomware attacks

Ransomware attacks, in which malicious actors encrypt a victim’s data and demand payment in exchange for the decryption key, have been a significant threat in recent years and are likely to continue to be a major threat in the future. Cybercriminals will likely continue targeting individuals and organizations of all sizes, including small businesses and local governments.

In 2023, ransomware attacks will become more sophisticated and targeted. It will be even more critical for individuals and organizations to have robust cybersecurity defenses. Cybercriminals may increasingly use “double extortion,” in which they encrypt the victim’s data and threaten to release sensitive information if they don’t pay.

The best way to protect against ransomware attacks is to back up data regularly. Make sure to keep software and security protocols up to date, and be cautious when opening emails or clicking on links from unfamiliar sources.

One-time Password (OTP) Bypass

Cybercriminals are using a new trend called one-time password (OTP) bypass attacks to get past one of the best forms of account security. These attacks involve intercepting and manipulating OTP codes, often used as an additional layer of protection in online transactions. It can stop account takeovers even in cases where the criminal has the user’s password.

These attacks are carried out through various methods, including phishing, malware infections, and exploiting vulnerabilities in a victim’s device or network. The most common practice is a password reset function, in which a hacker uses phishing to fool the user into resetting a password. They then trick them into handing over their OTP via text or email.

To protect against OTP bypass attacks, it is crucial to use strong passwords. Be sure to keep all devices and software up to date, and be cautious when clicking on links or downloading files from unfamiliar sources.

Cybersecurity Attacks Surrounding World Events

During the pandemic, the cyberattack volume increased by approximately 600%. Large criminal hacking groups have realized that world events and disasters are lucrative and have launched phishing campaigns for world events.

Attacks come for everything from the latest hurricane or typhoon to the war in Ukraine. These scams often succeed because people are distracted by the crisis and not focused on cybersecurity.

People need to be especially mindful of scams surrounding events like these. They often use social engineering tactics like sad photos to play on emotions.

Smishing & Mobile Device Attacks

Mobile devices go with us just about everywhere these days. Look for more mobile device-based attacks, including SMS-based phishing (“smishing”).

Smishing is a cyberattack involving using text messages (SMS) to trick individuals into revealing sensitive information or clicking on malicious links. Smishing attacks often target login credentials, financial information, and personal information. They’re effective because people trust text messages from unknown numbers more than emails from unfamiliar sources.

Cell numbers are no longer as private as they once were. Hackers buy lists of them online and then craft convincing fake texts that look like shipping notices or receipts. One wrong click is all it takes for an account or data breach.

To protect against smishing attacks, be cautious when receiving text messages from unknown numbers. Only click on links or provide sensitive information if you are positive the message is legitimate. It is also essential to keep your mobile device’s software and security protocols up to date. And as always, use strong passwords to protect your accounts.

Schedule a Cybersecurity Check-Up Today

Make sure your business prepares for the cyber threats coming in 2023. Don’t wait to find out the hard way! Give us a call and schedule a cybersecurity check-up to stay one step ahead of digital criminals.