Part 2 will cover three more cybersecurity trends affecting your business in 2023.

3) Passwordless Future

Many experts believe the way to combat phishing is to implement the passwordless approach, which will gain traction in 2023. Passwordless security frameworks provide greater convenience, privacy, scalability, and security.

The adoption of passwordless practices will deliver benefits to both businesses and consumers. Organizations’ security will be improved by eliminating password breaches and improving the user experience. Going without passwords allows users to access services easily and quickly. In addition, users won’t have to waste time and effort resetting their forgotten usernames and passwords.

4) Threats to Supply Chains

Studies have found that supply chains are being increasingly targeted by cybercriminals for both money and political advantage. Cyberattacks on energy, finance, healthcare, and transportation industries have grown dramatically. When successful, they can endanger lives and present severe business data and security challenges.

Stronger technologies and strategies are required to combat this growing scourge in 2023. Companies must strengthen their supply chain security by implementing effective solutions against cyberattacks. The initial foundational step is implementing a data security management system and a data security framework that oversees their supply chain systems.

5) IoT Risks Rapidly Growing

Research organizations project that there will be three times more IoT (Internet of Things) devices than people by the end of 2023. Experts also believe that the average connected person will interact every 18 seconds with an IoT device. Each device must be properly secured to maintain cybersecurity.

Rapidly growing over the past ten years, the IoT industry will continue to expand in 2023, potentially compromising cybersecurity. Thus, governmental bodies have turned to pass regulations to protect individuals and organizations. The EU Cyber Resilience Act will require certain cybersecurity features for products sold in the European Union by 2025.

Companies need to begin focusing on their cyber practices for connected devices. They must establish and continually update data security policies and procedures involving IoT devices. To maintain cybersecurity, businesses must continually monitor their IoT-connected devices for vulnerabilities and update them with security patches.

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