Emerging cybersecurity developments in 2023 shaping everyday experiences

In the digital age, the role of Chief Information Security Officers (CISOs) is undergoing a significant transformation. Corporate stakeholders are increasingly seeking to understand the risk calculus of their technology stacks, as the importance of cybersecurity becomes more apparent.

As consumers grow more concerned about how companies treat their personal data, the need for data-centric security and privacy becomes paramount. In 2023, an estimated three-quarters of consumer interactions with a company are digital, making data protection a critical aspect of business strategy.

The political tensions in countries like Russia, China, and Iran, which are currently embroiled in conflict, have a direct impact on state-sponsored threat group tasking and activities. Mike McLellan, director of intelligence for the Secureworks Counter Threat Unit, has noted this impact, suggesting that nation-state actors may broaden their attacks, particularly against critical infrastructure sectors, government, and high-tech companies.

This trend is particularly concerning for nations strongly affected by increased state-sponsored activities, such as those in Europe, particularly Germany and EU states. These countries face hybrid threats such as cyberattacks, sabotage, and digital disinformation aiming to disrupt energy, communication, transport, and government networks. These threats often come from hostile foreign powers using covert and hybrid tactics to maximise societal damage.

China, for instance, is often interested in obtaining intellectual property from high-tech targets. This underscores the importance of robust cybersecurity measures for businesses in these sectors.

Executives, boards, and auditors may demand better cyber reporting around business risk in 2023, according to Michael Mumcuoglu. CISOs may be asked to report on their defensive posture with respect to attacks that can have a material impact on the organization.

Organizations that don't have a strong grasp of how consumers' data is processed will struggle to protect or enhance consumer trust and risk harming their corporate brand. Consumers will demand transparency surrounding their data security and privacy programs, and will make choices based on which company is doing the most to protect their personal information.

Trusted data use is one of the primary ways that organizations can build or lose consumer trust. In this regard, subscribing to the Cybersecurity Dive free daily newsletter can help keep up with this story.

There is also concern that other Russian groups will carry out large-scale covert foreign intelligence gathering activities. The risk of state-sponsored attacks against critical infrastructure sectors, government, and high-tech companies may escalate in 2023. However, it's worth noting that state-sponsored threats can be more targeted compared to cybercriminal threats.

In conclusion, as the digital landscape continues to evolve, businesses must prioritise data security and privacy to maintain consumer trust, protect their brand, and mitigate the risks posed by state-sponsored threats.