Cybersecurity challenges for 2023 will come in different forms and one of the challenges will involve further protecting critical infrastructure from cyberattacks. By critical infrastructure this means the physical and cyber systems and assets that are so vital that their incapacity or destruction would have a debilitating impact on our physical or economic security.
To gain an understanding of the types of cybersecurity challenges that will impact businesses over the course of the next year, Digital Journal canvassed the view of Anthony DiBello, Vice President, Strategic Development at OpenText.
DiBello sees cybersecurity issues increasing due to many global factors. These include: “Cybersecurity challenges in 2023 will be driven by global recessions, cryptocurrency risks and fluctuations, workforce and supply chain challenges, and international conflicts destabilising economic conditions in various geographies.”
The impact of these issues will trigger the economy in varied ways. DiBello assesses: “These conditions will lead to an uptick in financially motivated identity theft driven both by individual desperation, and isolated economies such as Russia and North Korea.”
One area that will see lower activity is the cryptocurrency sector: “With disruption in the cryptocurrency markets, expect to see a small decline in ransomware attacks as criminals pivot to more direct financial theft and fraud, such as tax and credit card fraud schemes. For organisations, expect to see investment focused on fraud and insider threat detection as a result.”
To stay ahead of the threats, many businesses will need to reorganise. Here DiBello recommends: “As enterprises prepare for a recession, expect to see organisations look to consolidate the number of cybersecurity vendors they interact with and push to get more from the technology they already have in deployment. On the vendor side, expect to see consolidation through mergers and acquisitors, particularly as sigh-high valuations begin to drop to more consumable levels.”
This will impact the cybersecurity sector in the form of: “As a result, there will likely be less cybersecurity startups entering the marketing in 2023 and existing vendors will focus more on practical solutions to near and present cybersecurity challenges.”
In terms of specific threats, DiBello assesses these as: “Past concerns regarding fraud and insider theft, those challenges will be securing the supply chain (physical and digital), and critical infrastructure. Bolstering security in these areas will be a huge focus for security leaders within those industries in 2023.”
In addition, DiBello warns: “Expect to see entrenched security vendors extend existing technology to better secure and monitor manufacturing and critical infrastructure environments (IoT Security) and the software development supply chain (DevSecOps) for cyberattacks.”