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Here are Top trends to watch out for in Data Theft in 2023.

Businesses have benefited from evolving technologies, but hackers have also been given sophisticated tools to steal data and attack specific organizations. As scammers progress from hacking emails to stealing more sensitive information like bank accounts, social security numbers, identification cards, and so forth, data theft has become a holy grail for them. Here are the top themes that will change data theft operations in the upcoming year and beyond as we prepare to enter 2023:

1) Targeting the e-commerce market: As e-commerce continues to soar in popularity, more and more businesses and consumers are turning to it to increase their earnings. There are currently thousands of online marketplaces functioning worldwide, each with vast customer data. Although the main purpose of this data is to aid in commercial decision-making, the sheer volume of data renders it vulnerable to cyberattacks. Online marketplace attacks have increased exponentially, and it is anticipated that 2023 will see an increase in these types of attacks.

2) Third-Party Exposure: According to Gartner research, cybercriminals are increasingly exploiting third-party services to target significant businesses and organizations. Breachers are utilizing these stakeholders for their malicious endeavors since third-party services are a crucial component of the corporate ecosystem. As attackers mimic these partners and steal important information from unwary users, the number of cybersecurity threats from suppliers, software developers, and logistical partners has constantly increased. These attacks are also harming the confidence among stakeholders. Only 34% of IT executives said they are confident that their third-party partner will inform them of data breach occurrences, according to a Ponemon survey from 2022.

3. Vulnerabilities in the supply chain: Today, it is impossible to overstate the value of a productive supply chain in maintaining business profitability. Due to its relevance, experts anticipate that in 2023, hackers will pay close attention to the global supply chain. The interruptions are anticipated to affect both the business and public sectors, including those involved in trade, commerce, national security, etc. In the upcoming years, it is also possible that state actors will be involved in carrying out these attacks.

4) A lack of semiconductors may appear unrelated initially, but if one digs deeper, one may readily draw a connection between data theft attempts and semiconductor shortages. Due to the global shortage of semiconductors driving up prices, servers, hardware, and peripherals will cost more in the future. Additionally, this could compel businesses to reduce their investment in cybersecurity safeguards, making them an easy target for hackers to sneak in and lock them out of their operating systems.

5) Socio-Political Hacktivism: Tensions between major economies will likely continue to rise in 2023. To further their geopolitical goals, the intelligence agencies of numerous nations will continue to engage in hacktivism. Additionally, cybercriminals would use social and political movements as cover while attacking multinational firms and stealing data. For instance, in the past, hackers had tricked businesses. They infected their systems with ransomware by citing the Copenhagen Accord, the Paris Climate Change Agreement, or the fight against Big Oil. In the upcoming year and beyond, breachers may carry out several such attacks under the guise of worthy causes like women’s empowerment, the abolition of child labor, and universal immunization.

There is broad agreement among all parties involved in business ecosystems that it is vital to protect and secure data. This information will undoubtedly aid users and businesses in keeping their data safe and being aware of the increasingly hi-tech and sophisticated cyberattacks. Cyber experts are developing unique solutions to guard systems against data leaks and hacking efforts, even if the sophistication of the attacks is likely to increase in 2023 and beyond. The most effective way to prevent these attacks is to implement modern technology, upgrade systems often, utilize trusted networks, and avoid clicking on strange emails without first checking the sender’s credentials. These straightforward actions may seem elementary, but they can be crucial in protecting you and your company from the harmful intent of cyber criminals.

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