Organisations can identify their risks and vulnerabilities by having a thorough understanding of the threat landscape. This encompasses the attack surface, which consists of linked IoT devices, user endpoints like smartphones and tablets, and infrastructure equipment like servers and network hardware.
Given that human error or social engineering account for 82% of breaches, the human aspect is the most prevalent vulnerability. Phishing attacks and credentials that have been taken demonstrate this.
Phishing
The human element continues to be a major threat vector in the majority of reports on cyber attack statistics broken down by year, particularly with regard to phishing and credential theft. Phishing was the primary source of 82% of breaches at small businesses, according to the 2022 Verizon Data Breach Investigations Report.
Malware samples can now use public AI to build, automate, and scale new attacks while hiding from traditional antivirus models. Attackers can potentially target certain people or organisations with sophisticated phishing techniques like “spear phishing.” A spear-phishing campaign consists of a highly customised email aimed at a specific person or company, accompanied with phone calls to amplify the attack’s legitimacy.
This year, a number of worldwide crises have provided opportunities for criminals to intensify their attacks. For instance, tensions between Russia and Ukraine resulted in a substantial spike in DDoS assaults against organisations, while the COVID-19 epidemic led to a rise in ransomware attempts by cybercriminals.
Ransomware
Ransomware is a type of cyberattack that encrypts or locks the files, systems, and devices of its target in order to demand payment. Drive-by downloads, social media, and phishing emails with infected attachments are the usual ways that cybercriminals disseminate ransomware. They can also access networks by exploiting flaws in third-party software products.
One of the most prevalent ransomware variations in 2023 was LockBit, which disrupted organisations’ operations globally and resulted in losses in the healthcare sector. Business email compromise (BEC), which entails impersonating important stakeholders and obtaining login credentials to steal money or goods, was identified as the cause of other attacks.
Organisations must not only be aware of these hazards, but also possess the necessary skills and resources to effectively counter them. Strong security measures can be put in place to lessen the hazards brought on by these sophisticated attacks. It is crucial for organisations seeking to improve their cybersecurity posture to investigate cutting-edge security solutions and best practices. Learn more about how to improve the security of your network in order to counter these always changing cyberthreats.
Botnets
By installing malware on thousands or millions of devices and connecting them to a network, attackers can build botnets. After that, these botnets might start DDoS assaults, take over systems, or steal data. This threat has grown as the Internet of Things (IoT) has expanded. These PowerShell path Internet of Things gadgets include security cameras, smart lightbulbs, TVs, and even medical equipment like pacemakers and glucose monitors.
There are numerous ways to infect unwary individuals with bot malware, such as social engineering and spamming. Once installed, the virus uses file sharing, social networking application protocols, or email to report its activity to the bot herders. The hackers who lured the herders into their botnet will then receive a commission from the herders.
In order to mine cryptocurrency on their behalf, attackers can also utilise bots, which divert computer resources from user systems. This is known as “cryptojacking,” and since 2022, users have become more concerned about it. 108 million accounts have reportedly been compromised thus far this year.
Identity Theft
A common goal of cyberattacks is to obtain enough personal data about their targets to use that information to conduct fraud or other unlawful acts. It can be very challenging to identify this, especially since most people only learn they are identity theft victims when they are applying for credit or loans, interacting with collection agencies, or getting calls from their bank or other financial institution.
Phishing attacks caused teachers and students in the ANZ region to reveal their login credentials to malicious websites or phishing emails in 2022 when they targeted schools and institutions throughout the region. Subsequently, this data may be utilised to get access to private information or initiate more complex attacks on the networks of a school.
The inability of boards and top management to recognise cyber dangers is impeding efforts to address them. Of security leaders, only 23% keep an eye out for cybersecurity threats from partners and vendors in real time, and over half restrict third-party risk to their direct suppliers. Because of this, businesses are vulnerable to supply chain attacks, which could have a wider effect than a single supplier hack.
Social Engineering
Social engineering assaults are just as hazardous as any other cyberattack and are frequently disregarded. Because of this, companies must be aware of the dangers they face and take appropriate action to defend themselves.
Hackers are aware that people have differing degrees of respect, fear, and trust for authoritative figures. They then exploit this information to trick victims into doing things that jeopardise assets, data, or security. They achieve this by taking on the identities of governmental organisations or powerful people, such as politicians, police personnel, and famous people.
Cyberattacks can particularly affect government institutions. They are desirable targets for hackers since they possess a lot of sensitive personal data as well as important state secrets. They are also less adept at cybersecurity fundamentals, which makes them more vulnerable to hacking.
Numerous government systems, including court systems, municipal utilities, bill payment services, traffic management, and voter registration data, are unsecure, according to a 2018 Security Scorecard study. These flaws have allowed hackers access to the personal and professional data of Americans. Investing in employee awareness training is crucial as it fosters a culture that encourages safe behaviour.