As we entered into 2023, experts at the World Economic Forum’s Annual Meeting in Davos, Switzerland are sounding the alarm on the state of cybersecurity. Cyberattacks are on the rise and becoming increasingly sophisticated, making it crucial for individuals and organizations to take action to protect themselves.
Jürgen Stock, INTERPOL Secretary-General, stated that “this is a global threat, and it calls for a global response.” This sentiment was echoed by Sadie Creese, a Professor of Cybersecurity at the University of Oxford, who warned of a “gathering cyber storm” and the difficulty in anticipating just how severe it will become.
The rise in cyberattacks is evident in the increasing frequency of phishing, ransomware, and distributed denial-of-service (DDoS) attacks. Cloudflare, a major US cybersecurity firm, reported a 79% year-over-year increase in DDoS attacks. CEO Matthew Prince warns that 2023 will be a busy year in terms of cyberattacks.
The concern is not limited to just private organizations, as governments are also increasing their involvement in disruptive cyber operations. Countries such as Russia and North Korea have been identified as major players in this area.
Business leaders are becoming more aware of the cyber threat, with 91% of respondents in a recent survey believing that a far-reaching and catastrophic cyber event is at least somewhat likely in the next two years. However, the report also noted that organizations continue to face significant challenges in effectively addressing cyber concerns.
The potential targets for cyberattacks are also expanding, with small organizations that handle consumer data becoming increasingly vulnerable. In response, experts are calling for a focus on cyber resilience, acknowledging that there is no such thing as 100% security, and it is important to build resilience in the face of insecurity.
Consumers also need to increase their cybersecurity awareness, as more and more everyday products are becoming connected to the internet. The Zero Trust approach to cybersecurity is one solution, creating a framework that eliminates implicit trust and ensures that all users, even those inside an organization’s network, are authenticated and validated.
In conclusion, the threat landscape for cybersecurity is expanding and cyberattacks are becoming increasingly sophisticated. It is crucial for individuals and organizations to take action to protect themselves and for a global response to address this global threat.