CISOs need to define their risk tolerance, identify specific critical data, and make changes based on strategic business goals.
The past few years have been a bumpy ride all around. 2022 was supposed to be a breather for CISOs as the uncertainty surrounding the pandemic largely subsided. Sadly, they found themselves coming to terms with the new “never normal” instead.
A soaring cost of living, geopolitical conflicts, catastrophic climate crisis, and a rapidly evolving regulatory environment all will shape the cyber security landscape this year. Newer threats have emerged and older ones have evolved. Critical infrastructure, public service delivery, and people’s privacy all seem to be in the line of fire. And with ongoing digital transformation initiatives, exponential data growth, limited funds, and an ongoing skills shortage, CISOs and their teams, it seems, are barely holding it together.
Waypoints on Path to Action
Keeping up with emerging threats and challenges in 2023 can help organisations get on the path to developing a coherent security strategy.
1. Cyberattacks increase, tactics evolve: Ransomware incidents dropped by 34% earlier in 2022, only to roar back with a vengeance. Ransomware has evolved to double and triple extortion with data theft and denial of service. We’ll see an uptick in stolen data being sold on Dark Web forums and later being used in highly targeted phishing attacks.
The underground cybercrime landscape is also shifting from cybercrime-as-a-service to cyber mercenaries for hire. Expect cybercriminals and nation-state actors to hire highly skilled cyber mercenaries for granular tasks that can lead to major attacks and breaches. These attacks will be very impactful but near impossible to trace.