Cybercrime Trends in 2023 and Beyond

As technology tools and capabilities continue to develop, cybercriminals are also using these advancements to enhance their abilities to disrupt systems, steal data, and extort funds from vulnerable businesses and individuals. With the advent of AI (Artificial Intelligence) and ML (Machine Learning), it will be more important than ever to implement the strongest levels of protection available to secure your private information and mitigate breach in 2023 and beyond. Let's take a look at some cybercrime trends and the strategies cybercriminals are using to breach data privacy.

10 Top Cybercriminal Strategies

Cybercriminals employ many strategies to invade your privacy, steal your identity, and breach your accounts. Here are 10 of the most commonly deployed:

1. Fraud: A deliberate deception intended to secure an unfair or unlawful financial gain, often using false information or misrepresentation.

2. Hacking: Unauthorized access to computer systems or networks, typically with malicious intent to steal, modify, or damage data.

3. Identity Theft: The illegal use of someone’s personal information, such as social security numbers or credit card details, to commit fraud or other crimes.

4. Scamming: A dishonest scheme or fraud that tricks individuals into providing money, personal information, or resources through deceitful means.

5. Computer Virus: Malicious software that replicates itself and spreads across computers, damaging systems or corrupting data.

6. Ransomware: A type of malware that locks or encrypts a victim's data and demands a ransom for its release, often causing significant disruption and unrecoverable financial loss.

7. Spamming: Sending unsolicited or irrelevant messages, often in bulk, typically for advertising or malicious purposes, usually through email or messaging platforms.

8. Phishing: Fraudulent attempts to obtain sensitive information, such as passwords or credit card details, by impersonating legitimate entities, often via email or websites.

9. Cyberstalking: The use of the internet, social media, or electronic communication to harass, threaten, or intimidate someone repeatedly and maliciously.

10. Child Pornography: The illegal production, distribution, or possession of explicit material depicting minors, considered a serious cybercrime and subject to severe legal penalties.

The following video provides an overview of these ten most common tactics that cybercriminals are using in 2023 and will continue to exploit for the foreseeable future.

Cybercrime Trends and Cybersecurity Risks

To mitigate the impact of a cybersecurity attack, the following critical risks should be considered, and an advance security protection plan put in place:

Inadequate System/Network Protections. Be aware that federal, financial, and utilities platforms on which your system depends for support are not always kept up to date with the latest security patches and code updates. Ensure that your computer system is regularly updated to avoid the most commonly known vulnerabilities.

Poor or No Advance Preparation. Many companies opt to "take their chances" and not spend the money for high level security protections, and thus are left vulnerable to breach and the exorbitant and sometimes irrecoverable cost of damages when the attack actually occurs. These days, it's no longer a matter of if, but when.

Changing Environment in World Politics. While countries are preoccupied with wars and political unrest, cybercriminals use these times of distraction to attack national security vulnerabilities.

Regulatory Inconsistencies. Federal, state, and local authorities each bring a different and often subjective perspective to their efforts to set policy and regulations for security requirements, which in turn can result in conflicting interpretations and inconsistent enforcement of cybersecurity law. Vigilance will be necessary in 2023 to ensure high level protections are in place and in compliance with several applicable levels of governance.

Trends are indicating that cybercriminal activity will only increase in 2024 and beyond as technology progresses, providing new and more sophisticated tools that can be used to advance business processes and functions in our world while simultaneously opening new doors for bad actors to hijack the stage.