With 2022 in the rear view, one thing is crystal clear: 2022 was a banner year for cybersecurity. The year kicked off with Russian cyber-attacks against Ukraine which, while not unprecedented (Russian Attack in 2014), certainly garnered worldwide attention and eventually led to a full blown international crisis. This set the tone for a year of devastating attacks – from Conti’s ransomware attack against Costa Rica, which attacked victims in both the private and public sector including local governments in the U.S, schools and the national healthcare system, to the continued onslaught of attacks against the healthcare industry.
In the private sector, we saw major business moves, including Google becoming a security player with their acquisition of Mandiant and a huge inflow of capital from VCs to cybersecurity companies. In fact, there was $12.5 billion in venture capital invested across 531 deals in the first half of 2022, according to a recent Help Net Security article.
In the public sector, the Biden administration remains steadfast in strengthening U.S. cyber defenses. At a recent CNBC TEC Summit, Principal Deputy National Cyber Director Kemba Walden spoke about some of the administration’s accomplishments, including new legislation such as the Strengthening American Cybersecurity Act of 2022, executive orders to firm up the federal government’s cybersecurity and the establishment of a new Office of the National Cyber Director.
What to Expect in 2023
I expect the cybersecurity industry to remain red hot as we head into a new year. Based on what we are seeing partnering with cybersecurity pillars, players, and pioneers, I expect:
- Cybercriminals will Take Advantage of Layoffs: With fewer (and smaller) security teams at work, criminals will take full advantage of personnel gaps. Cybercriminals will often look for the path of least resistance, and this is one that is brightly marked.
- An Increase in Ransomware Attacks: We’ve said it before, and we’ll say it again: there will be an increase in ransomware attacks. Both the private and public sector need to be on the lookout and ensure they are fully protected and patched.
- Bigger, Bolder Attacks: The new year kicked off with news that 235 million unique records of Twitter users and their email addresses have been leaked for free in what intelligence firm Hudson Rock CTO calls one of the “most significant” leaks ever. Expect more of these to happen in the coming months.
- A Rise in “Expert” Cybersecurity PR Firms: With the cybersecurity market growing exponentially, I expect to see more PR firms entering the market and claiming “expertise” in cybersecurity. For any company searching for PR support, make sure you take the time to do your homework and vet your potential communication and marketing partners. Ask for case studies, customer references and media references, and make sure you feel comfortable with what you’re getting. If it seems too good to be true, it usually is.
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