Top 5 Cyber Security Threats of 2023

It has become incredibly challenging for organisations to ensure their staff can work securely. We are sharing the top cyber security threats you need to be aware of in 2023 to mitigate the risk of being the victim of the next cyber attack.

Social Engineering

Social engineering entails manipulating individuals or groups to gain unauthorised access to sensitive information or to influence their behaviour in a certain manner.

The persistence of social engineering poses a significant risk to organisations, as employees are vulnerable to falling prey to these cyber attacks. There is a growing trend among attackers to employ artificial intelligence (AI) to automate and enhance the effectiveness of their targeted phishing, personalised social engineering, and other manipulation tactics.

83% of UK businesses that encountered a cyber attack in 2022 shared the attack type as phishing, a form of social engineering. It is crucial for organisations to implement cyber security awareness training and simulated social engineering tests to protect against these cyber security threats.

Artificial Intelligence and Automation

Artificial Intelligence (AI) is a growing trend that continues to transform the way employees work. Unfortunately, cybercriminals have also taken to AI to improve their cyber attacks and tactics. Cybercriminals are engaging with AI to perform automated phishing, improve their social engineering tactics, and utilise malware to evade detection for cybercriminal activity.

To combat this, organisations need to have the skill and expertise to assess behavioural trends, identify irregularities and immediately respond to potential risks before extensive damage can be done.

Ransomware Attacks

Ransomware attacks are malicious cyber incidents wherein unauthorised individuals gain access to computer systems and encrypt the victim's data, making it inaccessible until a ransom is paid.

There has been a surge in the number of ransomware attacks across industry sectors. According to Verizon Data Breach Report, ransomware attacks increased by over 37% in 2023.

The evolution of AI has made it easier for cyber attackers to execute customised and extensive automated attacks. Organisations should implement offline backup systems, provide employee security training, and establish incident response plans to mitigate potential consequences.

Cloud Security

The topic of cloud security is of utmost importance in the field of information technology. In a study conducted by Vanson Bourne, system misconfigurations enabled 66% of cyber attacks as cyber attackers were able to exploit flaws in the configuration setup.

With the utilisation of artificial intelligence, cybercriminals can detect and capitalise on cloud security vulnerabilities. Hijacking accounts due to staff having weak password security can mean unauthorised users can gain access to confidential information stored in the cloud too.

Insider Threats

Potential risks and vulnerabilities arise from individuals within an organisation having authorised access to sensitive information and systems.

Cyberattackers can employ social engineering techniques and exploit individuals with excessive information privileges. Disgruntled employees or partners are often incentivised to share confidential information that negatively affects a company's reputation and poses a serious threat to business operations. 

Join Our Event to Protect Yourself From Cyber Attacks

How can you ensure your organisation has taken the necessary precautions to mitigate the risk of suffering from the next cyberattack?

Register for our Cyber Savvy Workforce event to gain our insights to create a robust cyber culture within your team.