"Economic Uncertainty Will Greatly Impact the Spread of Cybercrime"

Norton has released its top cyber trends to watch in 2023, highlighting that the economy will have the most influence on the spread of cybercrime next year. According to experts, the pressures associated with economic uncertainty and rising costs will create an ideal environment for scammers to prey on people when they are most vulnerable. Cybercriminals will continue to trick victims into handing over personal information, emptying their bank accounts, or paying for products or services that never arrive. There will be an increase in financial-based scams, such as assistance scams that impersonate government assistance programs in order to steal Personally Identifiable Information (PII) and shopping deal scams offering low-cost products in order to steal information or cash out without delivering the order. Companies that operate with fewer employees will see an increase in data breaches and ransomware attacks. Scammers will continue to use Artificial Intelligence (AI) in their criminal activities as the technology becomes more accessible and user-friendly. As language and video AI models improve, scammers can use deepfakes to impersonate real people in real-time, tricking people into disclosing financial and personal information. Cybercriminals are devising new methods to circumvent standard multi-factor authentication (MFA) technologies. Companies that continue to use ineffective two-factor authentication (2FA) practices expose themselves and their customers to serious data breaches, which can result in massive consumer data leaks. There will be more data breaches, making it even more important to encourage people to use unique, complex passwords across all of their accounts. This article continues to discuss how the economy will impact the spread of cybercrime next year and other top cyber trends expected in 2023. 

Help Net Security reports "Economic Uncertainty Will Greatly Impact the Spread of Cybercrime"