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Biggest Cybersecurity Challenges in 2023

In 2023, organisations are vulnerable to all kinds of cyber-attacks. On average, a hacker tries to attack a business’s data every 39 seconds and according to Exploding Topics, over 800,000 people fall victim to cyberattacks every year. In this article, we’re going to look at the biggest cybersecurity challenges that businesses could face in 2023.

 

Ransomware Extortion

 

Ransomware attacks have been growing in frequency and severity in recent years, with attackers increasingly using advanced tactics to encrypt data and demand payments from victims. These attacks often come with threats to release sensitive information or disrupt operations. To help prevent this type of threat, businesses need to be regularly backing up their data and investing in updated anti-malware and anti-phishing solutions.

 

Cloud Security

 

The shift to cloud computing has been one of the most significant technological developments in recent years, but it also presents new security challenges. As more data and applications move to the cloud, organisations must be vigilant about protecting their assets from data breaches, unauthorised access and misconfiguration.

Businesses should be aware of how cloud security works and how relying on cloud services can make them more vulnerable to cyber-attacks. Choosing reputable cloud service providers is a good way to ensure your business is protected, and they should be able to answer any questions you have regarding security.

 

Mobile Malware

 

Mobile devices are becoming an increasingly common target for cybercriminals, with mobile malware being used to steal sensitive data, intercept communications and take control of devices. As more organisations allow employees to use mobile devices for work purposes, the risks associated with mobile malware will continue to grow, so it’s important that they provide the necessary training for employees on how to spot potential security risks.

It’s also important to be aware of Juice Jacking, a type of cyber attack that uses public charging points to install malware on mobile devices. You can read more about in our article Is public USB charging safe? Juice Jacking explained.

 

Wipers and Destructive Malware

 

Wipers are a type of malware that are designed to delete or destroy data, often as part of a targeted attack. Destructive malware can cause significant damage to an organisation’s systems and data and may be used in conjunction with other attack methods.

In 2022, we saw a huge rise in this kind of malware, mainly due to the war in Ukraine, with most of these attacks attributed to Russian state-sponsored threat actors. However, with their prevalence only expected to rise, it’s never been more important for organisations to understand and implement better protections against them.

 

The Weaponisation of Legitimate Tools

 

Attackers are increasingly using legitimate tools and software to carry out attacks, making it more difficult to detect and defend against them. This approach is known as “living off the land” and it involves using trusted software to evade detection and carry out malicious activities. According to a recent study by Microsoft, firmware attacks have increased 5x over the past 4 years.

 

Vulnerabilities in Supply Chains

 

As organisations become more interconnected and reliant on third-party vendors, the security risks associated with supply chains continue to grow. Attackers may target suppliers or vendors with weak security controls to gain access to an organisation’s systems or data.

It’s important you work with partners and suppliers who take cybersecurity as seriously as you do, otherwise your business data and systems could be compromised due to their inadequate cybersecurity measures.

 

Global Attacks on Business

 

Cyber attacks are increasingly global in scope, with attackers targeting organisations in multiple countries or regions simultaneously. This can make it more difficult for businesses to detect and respond to attacks, particularly if they involve coordinated campaigns or sophisticated tactics.

 

Uncertainties of 5G

 

5G networks offer faster speeds and greater connectivity than previous generations, but they also present new security challenges in the form of greater breach points, lack of encryption and decentralised security. As more devices connect to 5G networks in 2023 and beyond, the risks associated with cyber-attacks are likely to evolve, so it will be essential for businesses to ensure they have adequate security and privacy measures in place.

 

Internet of Things (IoT) Attacks

 

The number of IoT devices is growing rapidly, and many of these devices have vulnerabilities that can be exploited by attackers. With the increasing use of IoT in critical infrastructure, the security risks associated with these devices are becoming more significant. Attackers can easily use IoT to damage gadgets and implant malware to gain access to private information. To prevent IoT attacks, businesses should invest in better security and protection methods.

 

Cryptocurrencies

 

The decentralised nature of cryptocurrencies already makes them attractive to cybercriminals, but with increasing value fluctuations and another crypto crash expected in 2023, the risk of cyber attacks and scams is only rising. For companies with funds in crypto, it’s never been more essential to invest in hardware wallets, use private and secured internet connections at all times, and have 2-stage authentication and verification measures in place.

 

Deep Fakes

 

Deep fakes are increasingly sophisticated, difficult to detect and have the potential to cause significant damage to an organisation’s reputation. As the technology behind deep fakes continues to advance, businesses must be prepared to respond to the risks associated with these types of attacks.

Deep fake technology also falls into many different types of cybersecurity, including legal, societal, personal and traditional types. Businesses should invest in technology to help identify fake videos surfacing as well as focus on increasing the media literacy of their employees. The good news is that according to a study by iProov, deep fake technology is becoming better understood, with 16% more people knowing what it is in 2022 compared to 2019.

 

ChatGPT Risks

 

We’ve already seen a huge leap in AI language models in the first quarter of 2023, which in turn is presenting new security risks. ChatGPT, for example, could be vulnerable to attacks that exploit its natural language processing capabilities to trick users into revealing sensitive information. ChatGPT itself claims it does not pose any cybersecurity threat, however, recent claims in the media of the potential security threats have alarmed businesses across all sectors.

You can learn more about the potential risks associated with AI chatbots in our article Are AI Chatbots Like ChatGPT Safe?

 

Adapting to Remote Networks

 

Many businesses aren’t aware of the risks of having a partially or fully remote workforce, but employees could very easily give cybercriminals access to the company files stored in their computers. In fact, a recent study by Malwarebytes identified that over 20% of remote workers have caused some kind of security breach for their businesses in the past.

 

Final Thoughts

 

There are many different types of cybersecurity threats facing businesses in 2023. Therefore, it’s important now, more than ever before, for businesses to invest in updated and secure cyber-protection solutions and provide training to staff on how to keep private data safe and secure.

 

Why choose Eventura as your cybersecurity partner?

 

With over 20 years experience in cybersecurity, we know our stuff. Our team of cybersecurity experts can complete a full audit of your business and identify any areas of weakness, which could leave you vulnerable to cyberattacks.

We were even mentioned in the Governments National Cyber Security Centre (NCSC) Annual Review 2020 when we were chosen to test their “Exercise in a Box” designed to help small businesses prepare and respond to cyberthreats. You can read the article here.

There is a common misconception that cyberattacks don’t happen to SMEs but this couldn’t be further from the truth. With our expert knowledge, we can help you protect your business’s future from the ever increasing threat of cybercriminals.

If you would like to speak to one of our cybersecurity experts or request a cybersecurity audit, you can request a free call back here.

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