Between Challenges and Opportunities Towards Consolidated Investment Strategies in Cybersecurity

The Scenario

Recent comprehensive research on the trends of 2023 clearly highlights the growing threats of cybercrime and underscores the urgency for businesses and institutions to increase their investments in cybersecurity.

In 2023, there were 2,779 serious incidents globally, marking a 12% increase from the previous year. This growth is not only in terms of the frequency but also the severity of attacks, with Italy accounting for 11% of serious global attacks, showing a 65% increase compared to 2022 (Clusit). These figures highlight that cybercrime represents over 83% of all global attacks, indicating a 13% increase from the previous year (CyberTrends).

Italy, in particular, has seen a significant increase in hacktivism attacks, which represent 36% of attacks in the country, marking a 761% increase compared to 2022. Hacktivism is a distinct form of attack typically carried out by activist groups using hacking techniques to promote, impede, or express a stance on political or social issues: main activities include website defacement, data theft and disclosure, and the use of viruses and malware with protest intentions.

The most affected sector was the government/military, followed by manufacturing, with significant increases in attacks also in the transport/logistics and finance/insurance sectors. The predominance of DDoS attacks in Italy, surpassing malware for the first time, reflects an increase in the use of this technique, often associated with hacktivism campaigns (CyberTrends).

Investment Strategies

Cybersecurity plays a key role in ensuring that these data are protected from unauthorized access or system breaches.

The use of encryption to protect data is a critical element for both privacy and cybersecurity as encryption ensures that only authorized persons can access and interpret the data.

This context requires a strong emphasis on investments in technologies and companies that can provide advanced cybersecurity solutions. Cybersecurity spending has grown by 16% compared to last year (Cybersecurity & Data Protection Observatory, 2024).

Growth factors include:

• Integration of new cyber defense technologies
• Increased attention from corporate boards on cybersecurity issues
• Actions to comply with new regulations
• An increased number of attack attempts towards the organization
• Protection of new projects in the digital realm

81% of large organizations have a structured strategic plan for cybersecurity. This finding from the 2023 research by the Cybersecurity & Data Protection Observatory underlines the clear awareness of corporate management that not only defines investment budgets to secure infrastructures but also defines a multi-year strategic plan that ensures continuous innovation to support a business that must not stop.

Conclusions

We are witnessing an important phenomenon: the protection of critical infrastructures and sensitive information, in addition to ensuring the resilience of organizations in an increasingly complex and perilous digital landscape.

Given the scenario, cybersecurity is a fundamental pillar of any organization’s strategy, requiring an approach that includes not only advanced technologies but also a culture of security and digital awareness that characterizes every individual in the company.

Contact us to find out how we can help you structure an investment strategy in cybersecurity with Syneto solutions.