Cyber security predictions for 2023

Warnings don’t come much stronger. In late 2022, as much of Australia was preparing for the festive season, Home Affairs Minister Clare O’Neil was anything but festive as she shared a few home truths in a keynote speech at the National Press Club.
Cyber security predictions | Probe
“The truth is we are unnecessarily vulnerable (to cyber attacks),” she said 1. “We need to prepare for more cyber attacks over the coming years, better cyber security for Australia means all businesses and citizens changing how they engage with the internet.”

 

Ms O’Neil’s words followed a similar warning by risk management body RIMS, which revealed in its executive report Getting Started on Cybersecurity2 that Australia is among countries most vulnerable to cyber attacks.

“It may be tempting to adopt a mindset of ‘cyber attacks only happen to others’ and ‘my company is not big enough to be a target’ (but) this way of thinking leads to overconfidence and a false sense of security,” RIMS said.

P_Web_Percentage of organizations compromised by at least one successful attack

Source: 300+ Terrifying Cybercrime & Cybersecurity Statistics (2023) (comparitech.com)

As with all areas of business, knowledge is power and that is why we have compiled this insight into the top cyber security predictions for 2023 and how investing in a secure digital environment can enhance customer experience.

Geopolitical attacks

The Ukraine war is a stark reminder that modern conflicts extend well beyond traditional battlefields. Geopolitically motivated cyber attacks are increasingly commonplace and with more than 70 countries to hold government elections in 2023, cyber security experts will be kept busy trying to ensure national tech defences are strong enough to withstand the efforts of state-sponsored hackers.

Hospitals under scrutiny

The healthcare sector is on the rise as a target, with sensitive patient information, laxed data-sharing practices and often inadequate security making it attractive for cyber attackers, particularly those wanting to extort ransom demands. A recent study of the healthcare sector revealed that a third of respondents believe they lack the security to effectively handle threats and less than half can detect and respond to zero-day and advanced threats3.

P_Web_5 Cyber security statistics every C-suite executive needs to know

P_Web_5 Cyber security statistics every C-suite executive needs to know-m

Source: Techtarget.com

Supply chain havoc

Few things affect customer experience, let alone profitability, like a breakdown in the supply chain, which is why executives should be extremely concerned that 80% of companies in Australia were notified of a vulnerability or attack within their software supply chain in the past 12 months4. Such attacks are tipped to be among the most destructive strategies used by cyber criminals in 2023 and the same study found that, compared to the global average, Australia suffered the highest rates of operational compromise and data loss.

While executives are right to be concerned about the threat of such attacks, they should not view cyber security as an annoyance. Instead, it is a golden opportunity to enhance customer experience by creating and promoting a secure environment that increases the trust and confidence of consumers. There is a reason the cyber security industry is currently looking to recruit an additional 3.4 million professionals5 and that is because organisations not only want to protect customer data but ensure those customers have an extra reason to be loyal.

From enhancing self-service capabilities to delving into the unknown world of the metaverse, 2023 is shaping as a ground-breaking year for contact centres. Discover this year’s top customer service goals and the CX trends that will make them a reality.

References:
1 Govt: Australia ‘unnecessarily vulnerable’ to cyber attacks | Information Age | ACS
2 No country immune: Australia among most vulnerable to cyber attack - International - Insurance News - insuranceNEWS.com.au
3 pdfviewer (blackberry.com)
4 Four in Five Software Supply Chains Exposed to Cyberattack in the Last 12 Months (blackberry.com)
5 The cybersecurity industry is short 3.4 million workers—that's good news for cyber wages | Fortune

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