- Lapsus$, the Criminal Gang
Lapsus$ is the code name for financially motivated cybercriminals widely known for extortion and destruction splurge that unmasked distinguished companies like Samsung, Uber, and Rockstart games. The Lapsus$ holocaust went on to hook technology giants like Microsoft.
- The zero-day bonanza
By the end of 2022, 52 zero-day attacks were publicly documented, hitting various software products, particularly taking hold of codes from prominent tech vendors like Microsoft, Google and Apple. Here are 2023 predictions for cybersecurity.
i) Cloud will play an increasingly pivotal role in preventing cyberthreats
Malicious individuals can creep into networks, use unknown weaknesses and target the company’s data and backups to extort money from the owners through various avenues. This is why most organisations put security strategies that Include prevention, data protection, back up and recovery.
ii) Demand for cyber insurance is going to increase, but it’s going to become harder to get
The demand for cybersecurity insurance in areas like Asia-Pacific is expected to grow because of the increase in fines arising from non-compliance and regulatory developments. This is mainly due to the rise in awareness of cyber incidents like ransomware attacks, data breaches, vulnerability exploitation, and so much more. According to statistics, the global cyber security insurance market is predicted to be worth $29.2 billion by 2027, up from $11.9 Billion in 2022.
- Cybersecurity Business got bigger.
Moguls in private equity firms marked the 2022 cybersecurity events calendar by buying up identity and access management companies. Noteworthy agreements include :
- Thoma Bravo Purchasing Ping Identity, SailPoint and ForgeRock
- Vista Equity Partners Buying KnnowBE4
- Google acquired Mandiant Simplify
- Microsoft missed out on premium acquisitions last year but went on to double up its security business power.