In 2023, cybercrime will target financial and health IT

From Panda Security, we open the year with the prediction of the cybersecurity challenges that the population, administrations and business fabric will face in 2023. This report is born from the experience and knowledge of our team of experts to try to clear up various unknowns in the field of digital security.

This coming year there will be an increase in cyberattacks in all those sectors whose main activity depends for its correct execution on new technologies. The focus will be on services related to financial IT and all processes that use AI, such as health. “The technology healthcare it is one of the main bets for the future and the cybersecurity environment has to be perfectly shielded if we want to talk about avant-garde, efficiency and protection of the privacy and health of the patient”, he assures Hervé Lambert, Global Consumer Operations Manager of Panda Security.

From PandaLabs we highlight the main challenges in terms of cybersecurity for the following year:

  1. Insurers in general and those specialized in cybersecurity attacks will increase their protection and validation requirements with their clients. This sector will have to strengthen its protection against highly sophisticated computer attacks that will be experienced firsthand. “What their clients experience annually will become one of their main problems and challenges for next year,” he says. Hervé Lambert, Global Consumer Operations Manager of Panda Security.

Insurers are already increasing their security requirements to protect the data they collect and store. This may include additional protocols such as two-factor authentication, encryption, activity logging, and other preventative measures. Insurers often require third-party providers to meet these enhanced security requirements before they can engage with the insurer, which helps reduce the risk of a data breach or other security-related issue. “Undoubtedly, this increase in security requirements will cause them to charge higher premiums to their customers to cover the costs associated with these additional measures,” Lambert points out. On the bright side, and outside of the economics, this new method can lead to better customer service and better protection of your digital identity.

Another important stipulation that insurers will carry out will be that they will be able to require companies to use security solutions from certain providers. For example, an insurer may require companies to use a specific antivirus program to be eligible for coverage. They can also approve security providers and write policies for businesses that use those providers. This can help them ensure that the security solutions used by their customers are of high quality and provide adequate protection.

  1. Cybersecurity assessment and validation is becoming increasingly important when selecting vendors and partners. There will be a growing demand for cooperation and work with companies committed to cybersecurity education and high budgets for them. What is the use of spending a fortune on corporate data protection and armoring systems and infrastructures, if the partners or providers with which the company works lack a robust system that protects them from cyberattacks? “Companies that do not have among their main objectives the adoption of policies aimed at increasing their network security will remain at the bottom of the list, which will not only reduce their reputation in the sector, but will jeopardize commercial relations and, therefore, hence, its benefits”, comments the cyber expert.

Much of cyber attacks occur in the digital supply chain, cybercriminals find a gap in some software or hardware insecurity with one of your suppliers. Either through a product failure or a breach in your own network.

“This is fully aware of the importance of digital education in all the agents involved in the company or service. For the first time, companies are going to be forced to ensure that their suppliers and partners have the necessary cybersecurity measures in place to protect confidential data from unauthorized access or manipulation”, he clarifies. Hervé Lambert, Global Consumer Operations Manager of Panda Security.

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Vendor and partner assessment will include checking policies related to data encryption, two-factor authentication, activity logging, regular system updates, and employee training, among other security requirements. All this to guarantee the operation of secure systems in the collection and handling of data.

  1. The popularity of multi-factor authentication (MFA) as the primary security measure will fuel an increase in social engineering attacks. As predicted in last year’s prediction, the password system, as we have always conceived it, has been disappearing to implement this new method. “MFA requires users to provide multiple forms of authentication, such as a PIN or biometric information, to access an account or system. Although this system can provide greater protection against unauthorized access, it can also facilitate access to malicious agents who target users through social engineering ”, warns Hervé Lambert, Global Consumer Operations Manager of Panda Security.
  2. Increased attacks on cyber environments from autonomous vehicles and other AI-powered equipment. “We cybersecurity experts are concerned about this after the case of hacking a robotaxi,” explains Lambert, who talks about the seriousness that it could cause material damage and even death to people: “The hacking caused the AI ​​car to dazed and confused, unable to respond to his operator’s commands. This hack reminds that autonomous vehicles can be vulnerable to malicious agents, and that it is important that these vehicles have strong security measures in place to protect themselves from possible attacks”, he concludes.
  3. The implementation of the metaverse in home and work life will mean the arrival of a greater number of cyberthreats. Here the main attacks focus on three main types: Distributed Denial of Services (DDoS)identity theft, known as spoofing; Y ransomware. “Hackers are going to keep track of any digital asset they can get their hands on. The world of the digital age has our entire financial, personal and work life recorded today, let’s imagine the amount of data that the metaverse will store when its implementation is practically complete. The most interesting thing about this new technology is that, without a doubt, it opens the doors to a new virtual reality, which will have to have legal bodies for its regulation and very specific cybersecurity solutions”, argues Lambert.
  4. AI coding tools can have weaknesses that make projects vulnerable to malicious attacks. These tools can introduce basic vulnerabilities into new developers’ projects due to their lack of security features. Encryption tools may not incorporate basic security features such as input validation, authentication, or encryption. “To mitigate this risk, developers must spend time reviewing their code for potential vulnerabilities and apply best practices when writing code. They also need to invest in security tools, such as static analysis and automated security testing, and keep up with the latest security trends,” he says. Hervé Lambert, Global Consumer Operations Manager of Panda Security.

Last but not least, pay special attention to the sectors that are predicted to be the most affected by this type of cyberattack. Healthcare, manufacturing, retail, financial services, energy and public administration are also targeted by hackers.

These industries and any others that handle large amounts of sensitive data are targeted by malicious actors to gain access to systems, steal money, or cause other disruption. “We must not forget that the war of the future is cybernetic and technological for the control of big data; and in the face of this warning, all precaution is little, ”he concludes Hervé Lambert, Global Consumer Operations Manager of Panda Security.

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