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Andy Williams outlines his predictions for the cyber market in 2023

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This month, Andy Williams, co-founder of TCBN, discusses the key cyber threats for 2023 with members

Remember when ransomware attacks were a simple case of cyber criminals preventing access to a target’s files until a ransom was paid? Now, as organisations become more adept at protecting themselves from traditional ransomware attacks, cyber criminals are increasingly adopting more aggressive methods to profit from their attacks.

These include developments in which the attackers not only block access to the victim’s files but threaten to publicly release the organisation’s data. They can also add DDOS attacks to encryption and data exposure threats and directly contact individual stakeholders of an organisation whose personal details have been stolen.

The increasing aggression of cyber attackers will need to be matched by increasingly innovative cybersecurity solutions and practices.

Meanwhile, in advance of the widespread emergence of quantum computing, state-based actors and cyber criminals are known to be harvesting large amounts of critical but currently encrypted data from the web via HNDL (harvest now, decrypt later) attacks. These encrypted files are being stored away until the widespread emergence of quantum computing when the massive uplift in processing power it affords will make it quick and easy to decrypt data that is not currently accessible. The US government is sufficiently concerned about this development that it has just passed the Quantum Computing Preparedness Act, which includes a number of measures requiring federal agencies to prepare to address the cyber threats posed by quantum computing and to adopt quantum safe encryption.

Where the government leads in this area, industry must surely follow. Companies need to start preparing plans now to ensure their systems are quantum-safe going forward.

We would love to hear your thoughts on the main concerns facing you and your customers in 2023 – let us know here:

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TCBN and Department for International Trade survey: RSA 2023

In December, the Transatlantic Cyber Security Business Network circulated an Expression of Interest survey to our members to canvass opinions about attendance at RSA 2023.

This year, we are working with the Department for International Trade (DIT) to help collect views on how the UK Government can enhance opportunities for companies who plan to visit or exhibit at the conference in San Francisco.

If you are a UK cyber company hoping to attend RSA and are interested in engaging on what form of support and engagement you want to get in April, then please submit your answers to the following:

The survey will remain open for input until 20 January 2023.

As a reminder, for those members attending – RSA will be running their annual Innovation Sandbox Contest, offering cybersecurity’s boldest new innovators to compete and put the spotlight on their potentially game-changing ideas.

In 2023, 10 finalists will again have three-minutes to make their pitch to a panel of judges while demonstrating groundbreaking cybersecurity technologies to the broader RSA Conference community. Since the start of the contest, the top 10 finalists have collectively seen over 73 acquisitions and raised over $11.46 billion in investments.

Submissions will be open from January 10, 2023 through February 10, 2023 at 8 PM PT.

Click here to enter

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