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Global economic uncertainty hangs over everything like a dark cloud, which is triggering market volatility and risks across the cybersecurity sector too.
“Cybersecurity is not immune to recessions — research indicates that cyberattacks increase during and following economic downturns,” the think tank said in the report.
Key risk factors related to a potential recession include delayed innovation and inadequate budgets for long-term investments.
Organizations have improved corporate governance in cybersecurity, but the headway has been modest at best, according to the Bipartisan Policy Center. Distance between security professionals and the C-suite on information flow and decision making, and a lack of technical expertise on boards of directors are compounding this risk and must be addressed.
The think tank also called out vulnerable infrastructure, particularly third- and fourth-party vendors that may lack necessary cybersecurity controls, as a top risk for 2023.
“Vulnerable software, operating systems, or other infrastructure almost always factor into consequential security incidents and data breaches,” the report said.
“Keeping pace with patching and replacing end-of-life software and hardware is a major operational burden for organizations of all sizes. When this need is ignored, the cost, complexity and likelihood of incidents multiply over time,” the think tank warned in its report.
Other top macro risks include overlapping and conflicting regulations, talent scarcity, geopolitical tension and an accelerating cyber arms race.
The report pulled from a working group assembled to identify the top cybersecurity risks confronting all stakeholders. Members include current and former officials in state and federal government and executives from banking, cloud, communications, health, energy and other sectors.
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Enterprise cybersecurity is navigating market turmoil and vendor consolidation. Here’s what experts expect to happen to the industry in 2023.
Chief Product Officer Josh Prewitt said the company restored email access to more than three-quarters of its Hosted Exchange customers. But Rackspace officials pushed back on alleged connections to ProxyNotShell.
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Enterprise cybersecurity is navigating market turmoil and vendor consolidation. Here’s what experts expect to happen to the industry in 2023.
Chief Product Officer Josh Prewitt said the company restored email access to more than three-quarters of its Hosted Exchange customers. But Rackspace officials pushed back on alleged connections to ProxyNotShell.
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