Reflections, New Predictions, and What to Expect by 2033.
Where We’ve Been: A Cybersecurity Recap
It’s been a decade since Experian released its first Forecast. At the time, hacker activity was heating up, and breach ‘fatigue’ was setting in. The report highlighted the budding threat of healthcare incidents, started a conversation about the connection between the cloud, big data, and big international breaches, and was one of the first—if not the first preparedness and response organization to sound the alarm on the cyber insurance surge.
Fast forward to 2023: Clever cybercriminals have not slowed, and data breaches are busier and livelier than ever, with cyberattacks costing organizations $2.9 million every minute1, with major businesses suffering losses of $25 per minute.2
Hold on to your keyboard if you’re wondering where the cybercriminals could go next.
The Tenth Annual Experian Data Breach Industry Forecast findings offer a road map into the future. findings offer a road map into the future. Literally. It outlines how modern technology, cyber resilience, and cyber recovery will play a role in the next generation of attacks.
With six predictions instead of five, this year’s report also candidly reflects on what we got right and where we missed the mark over the last nine years while homing in on what 2023 and 2033 could bring.
Nearly 70% of business leaders feel their cybersecurity risks are increasing, and only 5% of companies2 data is probably protected.3
Where We Are: Reality. It’s Not Quite What It Seems
With more than 80% of U.S.4 adults expressing some concern about the metaverse and deepfake-enabled attacks up 53% from 2021,5 2023 could see cyberattacks move into unprecedented and unchartered territory. Will keyboards and screens become easy gateways to widespread attacks in seen and unsuspected ways for corporate entities and consumers alike? What about the continued rise of remote work? Will its staying power reveal vulnerabilities? As technology evolves, so too can scams and increased risk. Are you prepared?
Globally, cybercrime is on track to cost $10.5 trillion annually by 2025.6
Where We’re Headed: Today and 10 Years From Now
The Tenth Annual Data Breach Industry Forecast isn’t a crystal ball, but it’s close. With now ten reports issued and over 18 years of experience servicing, researching, and tracking data breaches, I’ve encountered almost everything in the what-if world of preparedness drills and real-world live incident responses.
I’ll end with this fact. Only time will tell what happens next.
Until then, if you’re a CISO, cyber risk insurer, CFO, General Counsel, or other professional responsible for or connected to cybersecurity preparedness and response, I recommend you review the Tenth Annual Experian Data Breach Industry Forecast. Your company’s future could depend on it.
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Click here to read the 2023 Experian Data Breach Industry Forecast
Six predictions, our nine-year ‘hit and misses’ report card, and detailed cybersecurity insight into what to expect over the next decade.
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1 https://businessinsights.bitdefender.com/what-are-the-biggest-cyber-threats-of-the-future
3 https://www.accenture.com/_acnmedia/PDF-96/Accenture-2019-Cost-of-Cybercrime-Study-Final.pdf#zoom=50
4-5 https://www.varonis.com/
6 Cybersecurity Ventures, Cybercrime Magazine