Norton Labs Reveals Cybersecurity Predictions for 2023

Rhea-AI Summary

Norton, a Cyber Safety brand of Gen (NASDAQ: GEN), released its predictions for 2023, highlighting the impact of economic pressures on cybercrime. Experts warn that inflation and rising costs will make consumers more vulnerable to scams, such as financial assistance fraud and fake e-commerce sites. Norton anticipates a surge in data breaches as companies operate with fewer staff, and AI advancements will make scamming easier. To combat these threats, Norton recommends consumers manage their passwords, adopt stronger multi-factor authentication methods, and remain skeptical of suspicious communications.

Positive

• Norton provides actionable advice to consumers for cybersecurity.
• Increased awareness and predictions can help mitigate potential risks.

Negative

• Economic pressures expected to heighten vulnerability to scams.
• Projected rise in cybercrimes, particularly during holiday seasons.
• Short-staffed companies may face a significant increase in data breaches.

Challenging economic times will create the perfect environment for scammers

TEMPE, Ariz., and PRAGUE, Dec. 1, 2022 /PRNewswire/ -- Norton, a consumer Cyber Safety brand of Gen™ (NASDAQ: GEN), today released its top cyber trends to watch in 2023, emphasizing that the economy will have the greatest impact on the spread of cybercrime next year. Norton experts predict the pressures associated with economic uncertainty and rising costs will create the perfect environment for scammers to take advantage of people when they are more vulnerable. It's expected that cybercriminals will trick victims into surrendering personal information, emptying their bank accounts, or spending money for products, services or "lottery winnings" that never arrive.

"We anticipate scammers will continue to prey on the vulnerability of people as economic pressures rise in 2023," said Kevin Roundy, Researcher and Technical Director at Norton. "Cybercriminals love to exploit seasonal opportunities, and consumers are facing a perfect storm of rising prices in the middle of the busiest shopping season of the year when scammers are particularly active. Scams are always harder to detect during the holiday season because consumers expect deep discounts and may believe prices that would normally seem too good to be true. This year, inflation and other unfavorable macroeconomic factors are likely to make people particularly eager to find good deals and they may therefore be at greater risk than in previous years. Taking a few proactive steps today could help you to be safer all year long."

Norton Labs Top Predictions for 2023:

1. Scammers will prey on vulnerable consumers: Expect a rise in financial-based scams such as assistance scams faking government assistance programs to steal Personal Identifiable Information (PII); shopping deal scams setting up fake e-shops promoting low-cost products to steal personal information or cash out without delivering the order; and romance scams asking emotionally vulnerable consumers for money or gift cards.
2. Short-staffed companies will be more open to vulnerabilities: Operating with smaller staff, short-staffed companies will experience a jump in data breaches and ransomware attacks.
3. Advances in AI will make scamming easier: Expect scammers to continue to wield AI in their crimes as this technology becomes even more accessible and easier to use. As language and video AI models advance, scammers can imitate real people in real time with deepfakes to trick people into giving over their financial and personal information.
4. Anticipate more breaches: Cybercriminals are finding ways to breach standard multi-factor authentication technologies. Companies that continue to use weak two-factor authentication (2FA) practices will leave themselves and their customers open to serious data breaches, which can lead to mass leaks of consumer information. We can expect to see more data breaches, making it even more critical to continue to use unique, complex passwords across your accounts.

With the number of cybercrimes potentially soaring in 2023, Norton is arming consumers with best practices and knowledge to protect themselves digitally. To help protect against these evolving threats:

• Be skeptical: Cybercriminals often pose as popular companies, organizations or people in your network. Never directly click on buttons or links without digger deeper and verifying who is actually sending them to you.
• Manage your passwords: Make sure your password is unique and avoid using the same one across different accounts. Add another layer of security by using a password manager such as Norton Password Manager to safely store and help create secure and complex passwords.
• Use "unphishable" factors for MFA: Unphishable factors, such as biometrics, device-level security checks, hardware security keys, and cryptographic security keys are nearly impossible for cybercriminals to intercept, making MFA and 2FA practices more secure.
• Get privacy, security and identity protection: Consider Norton™ 360 with LifeLock for all-in-one protection for up to 10 PCs, Macs, mobile devices, and tablets, secure cloud backup for Windows, Secure VPN to help keep your internet browsing private, LifeLock identity theft protection and more.

To learn more about Norton's 2023 predictions, visit https://us.norton.com/blog/emerging-threats/2023-predictions.

About Norton
Norton is a leading Cyber Safety brand of Gen™ (NASDAQ: GEN), a global company dedicated to powering Digital Freedom through its family of trusted consumer brands including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. Gen empowers people to live their digital lives safely, privately, and confidently today and for generations to come. Gen brings award-winning products and services in cybersecurity, online privacy and identity protection to more than 500 million users in more than 150 countries. Learn more at Norton.com and GenDigital.com.

Jenna Torluemke	Courtney Rowles
Gen	Edelman for Gen
Jenna.Torluemke@GenDigital.com	Courtney.Rowles@edelman.com

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SOURCE Gen Digital Inc.

FAQ

What cybersecurity predictions did Gen's Norton make for 2023?

Norton predicts an increase in scams targeting vulnerable consumers, more data breaches, and the rise of AI in cybercrime tactics for 2023.

How will economic factors influence cybercrime in 2023 according to Gen's Norton?

Economic pressures like inflation are expected to make consumers more susceptible to scams, increasing the overall incidence of cybercrime.

What steps can consumers take to protect themselves from cyber threats in 2023?

Consumers are advised to manage their passwords carefully, use stronger authentication methods, and remain skeptical of suspicious offers.

What types of scams are anticipated to rise in 2023 according to Norton's predictions?

Norton anticipates a rise in financial assistance scams, fake shopping deals, and romance scams targeting emotionally vulnerable individuals.

What impact will short-staffed companies have on cybersecurity in 2023?

Short-staffed companies are expected to experience a rise in data breaches and ransomware attacks, making them more vulnerable to cyber threats.