You could put your business at risk if you don’t stay up-to-date with new developments in cybersecurity.
The internet has certainly become a vital part of our lives; it connects us, provides us with the information we require and assists businesses in remaining competitive. Nonetheless, our dependence on the web may be hazardous and expose us to cybersecurity risks. According to Astra Security, approximately 33 billion accounts will be hacked by 2023. Furthermore, cybercrime expenses are predicted to rise by 15% over the following five years, reaching US$10.5 trillion by 2025.
Since the threat landscape is constantly shifting and evolving, you can place your business and personal data at risk if you do not stay on top of cybersecurity developments. This article will identify three of the most dangerous cybersecurity threats you and your company should be prepared for in 2023.
Ransomware is a type of malware that encrypts your files and holds them hostage until you pay a ransom. This can be a devastating attack, as it can render your files completely inaccessible and affect your business operations. If you don’t have a backup, you may be forced to pay the ransom to get your files back.
For instance, in February 2022, Nvidia, the world’s largest semiconductor chip producer, was hacked by ransomware. The ransomware group, LAPSUS$, claimed that they had access to 1 TB of exfiltrated company data. To prevent the data from being leaked online, they demanded US$1 million and a percentage of an unspecified fee from Nvidia. Moreover, attacker groups such as Mindware, Onyx and Black Basta have recently been seen in action, and old-time villains like REvil are also resurfacing upon the arrest of its affiliates in late 2021.
These developments signify one thing loud and clear: Ransomware is not a thing to be taken lightly. Protecting oneself against these malicious attacks must be priority number one, regardless of the organization’s size or location.
The annual State of Phishing report from SlashNext shows that 2022 witnessed a 61% increase in phishing attacks since 2021. Phishing is a dangerous cybersecurity threat that involves scammers posing as legitimate businesses to trick people into giving them personal or financial information. This can be done through emails, websites or even text messages.
In January 2023, Cyble Research & Intelligence Labs reported a phishing campaign targeting the meeting application Zoom involving IcedID malware, also known as BokBot. It is a banking trojan that targets businesses and can be used for stealing payment information.
Usually, attackers spread the virus via malicious MS Office file attachments in spam emails. In this case, though, they took an unusual approach. They tricked the victims into downloading the IcedID malware from a highly convincing phishing website disguised to look like a legitimate Zoom web page. While it’s unknown if user data was stolen during the attack, the method of delivery shows a change in tactics for these cybercriminals.
“I think we will continue seeing attacks targeting the infrastructure of different countries and organizations. Phishing attacks are going to become even more sophisticated, since a lot of basic tactics have already been tried this year, and businesses learned to repel those,” said the Head of content filtering research, Kaspersky Yury Slobodyanuk.
Internet of things (IoT) devices
IoT devices are becoming increasingly popular as they offer a convenient way to connect devices and share data. However, these devices are also susceptible to cybersecurity threats. According to Microsoft’s Digital Defense Report 2022, IoT devices are a critical entry point for many threats. Although information technology (IT) hardware and software security has improved in recent years, IoT security has not.
One of the biggest dangers of IoT devices is that they can be used to create botnets. A botnet (i.e. a portmanteau of the words “robot” and “network”) is a group of internet-connected devices that have been infected with malware and can be controlled by a malicious actor. These botnets can be used to launch distributed denial of service (DDoS) attacks, which can take down websites or cause other disruptions.
Another serious threat posed by IoT devices is data leakage. Because these devices often contain sensitive data, such as personal information or business secrets, they can be targeted by hackers who want to steal this information. Once this data is leaked, it can be used for identity theft, fraud or other malicious activities such as financial losses or the exposure of trade secrets.
Ways to safeguard yourself from cybersecurity threats
Cybersecurity threats are becoming more and more common, and it’s important to know how to protect yourself. Here are some tips:
- Use a strong password and don’t reuse it on other accounts. A strong password is at least eight characters long and includes a mix of letters, numbers and symbols. You can also take the help of a password manager to create one.
- Don’t click on links in emails or texts from people you don’t know. This could be a phishing scam where someone is trying to steal your personal information.
- Keep your software up to date. Cybercriminals often exploit security vulnerabilities in outdated software to gain access to your computer or device.
- Be careful what you download. Only download files from websites that you trust and be sure to scan them for viruses with anti-malware software before opening them.
- Use caution when sharing personal information online. Be aware of who you’re sharing information with and think twice before posting anything sensitive online (e.g., banking information, Social Security number, etc.)
- Use a firewall and antivirus software.
- Back up your important files regularly.
As technology continues to evolve, organizations and individuals need to stay informed and up-to-date on emerging technologies and the potential vulnerabilities they present. By learning more about these cybersecurity threats, we can put ourselves in a better position to protect ourselves from them now and in the future.
- Top 3 Cyber Attacks and Data Breaches of 2022
- What Are the Top Five Cybercrimes?
- Cyber Attacks Can Turn to Real Shooting Wars: Joe Biden
- Three Ways to Protect Your Company from Rising Cyberattacks
- How Intel Can Break the Duopoly in the GPU Space
- What Are the Most Common Types of Phishing Attacks?
Header image courtesy of Freepik