More online fraud, recession-resistant budgets and continued talent shortages can be expected in 2023, according to cybersecurity professionals who spoke with TechNewsWorld.
Online fraud, driven by persistent supply chain constraints and bot proliferation, will continue to rise in the coming year, predicted Benjamin Fabre, co-founder and CEO of Datadome, a bot and online fraud protection solution maker in New York City.
“If you look at the volume of threats, they’re going through the roof, and it’s not going to slow down,” he told TechNewsWorld.
Scarcity caused by supply chain constraints has driven up the prices of many commodities creating an attractive environment for fraudsters. “We are seeing limited stocks of products creating a bubble around their prices, driving more bots and online fraudulent activity, which I expect to continue in full force into 2023,” Fabre said.
The use of bots is gaining momentum in the new year. “We’ve only recently started to see this shift,” said Fabre’s colleague, Datadome’s head of research Antoine Vastel, where a lot of individuals have started using the app to monitor changes in housing prices, monitor the availability of gaming consoles, and more. Created their own bots to scour the markets with browser extensions.”
“We don’t think it’s going to stop, because it’s getting easier and easier to build advanced bots,” he told TechNewsWorld.
Wastel also forecasts the expansion of scaling activities and the use of scraper bots in 2023.
“While influence scaling is mostly used to affect concert tickets, it has spread to more and more products – sneakers, gaming consoles, GPUs, luxury items,” he explained. “I anticipate that with current product shortages and supply chain challenges, scaling will accelerate as the ability for resellers to raise money expands to new items and products across industries.”
He also said that more and more tools are appearing to make it easier to build advanced bots. “Whether it’s open-source libraries that enable attackers to mine their fingerprints or bots as a service that make building advanced bots as easy as making an API request, we think it’s time for scraper bots to take off.” will support construction,” he said.
Despite warnings of a recession by Cassandra, there remains optimism in the cyber security community about spending in 2023. Alberto Yepez, co-founder and managing director of Forgepoint Capital, a venture capital firm in San Mateo, California, pointed out that in 2021, cyber security spending is expected to increase by 12% from the previous year to about US$150 billion, and by 2022 spending is expected to cross $156 billion.
“This trend will continue into 2023 as the threat landscape becomes increasingly more dynamic and complex,” he told TechNewsWorld.
“With ransomware skyrocketing, organizations will look for support in modernizing their defenses and reengineering threat detection and response capabilities realizing that attacks are now inevitable,” he explained.
Yépez continued, regulatory compliance standards, cloud migration, and global digital transformation in business and government will further drive the market, especially as the hybrid workforce model evolves from a pandemic response to a regular way of doing business.
“All of these components help organizations meet business needs, but at the same time complicate their cyber security posture and create the need for a design-to-scale approach,” he said. “As a result, cyber security will continue to solidify itself as a key enabler in business operations, and organizations will prioritize proactive investment in 2023.”
Dangerous Cost Reduction
JD Hanson, CIO and CISO of Code42, a national endpoint security and data protection company, admits that some organizations will want to cut corners by cutting cybersecurity budgets, but stresses that they do so at their own risk.
He told TechNewsWorld, “Once the rumble of economic uncertainty starts rolling in, wary CFOs will start looking for areas of unnecessary spending to keep their company ahead of the game.”
“To the uninformed C-suite, cyber security spending is sometimes seen as an added expense rather than an essential business function that helps protect a company’s reputation and bottom line,” she continued. “These organizations may seek to cut costs by reducing their investment in cyber security equipment or talent, effectively reducing their company’s ability to properly detect or prevent data breaches and making them potentially catastrophic.” Can open up to the results.”
“This should be of particular concern amid continued ransomware attacks, and 2023 is expected to be another challenging year,” she said. “Companies that retain efficient cyber security resources will do better in the long run than companies that make sweeping cuts.”
Fabre said he does not see a negative impact on cyber security to the economy in 2023 because the cost of not investing in cyber security is too high. “Companies have a lot to lose – financially, reputationally, competitively – if their or their customers’ data is breached.”
“When you consider the rapidly changing legal and regulatory environment companies are now operating in,” he continued, “the risk of not being able to conform or secure privacy outweighs the short-term benefits of reducing cyber security budgets.”
The talent gap will continue
As in the previous years, in 2023 also the workforce problem in the cyber security industry will continue. generations to enter the field,” said Carolyn Vignolet, senior vice president of research and development at OneSpan, an identity security company in Chicago.
“Cyber security education is important, and while we see more universities developing cyber courses, they are still very small compared to the significant challenges organizations face,” he told TechNewsWorld.
“For this new generation to be successful,” she continued, “universities must expand cyber education and provide real practical cyber training, not just theoretical training.”
He said that companies and employees also need to play their part. “Every person in an organization plays a role – even if it’s just raising awareness of phishing emails and avoiding unsecured links,” she said.
Vignolet urged organizations to better support their cyber teams. “As cyber leaders, we have a responsibility to create a safe environment and to make this known to anyone who is interested in this area,” he said.
“In fact, one of the most important key performance indicators to look for within employee engagement surveys is whether employees feel comfortable talking to leadership,” she said. “This is the strongest way to avoid burnout as this growing talent gap continues through 2023.”