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Biggest Cyber Threats to Watch Out for in 2023
The current geopolitical turmoil is not only contributing to an increase in the number of known cyber threats affecting the business sector, but also bringing other unpredictable risks that can have quite serious consequences. The main challenge in 2023 will be to ensure supply chain stability and cyber security. Having a robust supply chain is already difficult, so cybersecurity is not just a challenge but a major concern for businesses today. Supply chains will see an increase in targeted attacks using encryption and cyber espionage campaigns on behalf of states.
According to the EU Cybersecurity Agency's (Enisa) 2022 Threat Categories report, there are eight main types of threats:
1. Ransomware: attackers encrypt an organisation's data and demand a ransom to restore access
In 2022, ransomware attacks continued to be one of the top cyber threats. They are also becoming increasingly complex. According to a survey cited by Enisa that was conducted at the end of 2021 and in 2022, more than half of respondents or their employees were targeted in ransomware attacks.
Data cited by the EU Cybersecurity Agency shows that the highest ransomware demand increased from €13 million in 2019 to €62 million in 2021, and the average ransom paid doubled from €71,000 in 2019 to €150,000 in 2020. Global ransomware is estimated to have caused €18 billion worth of damage in 2021 - 57 times more than in 2015.
2. Malware - software that affects a system
Malware includes viruses, worms, Trojan horses and spyware. After an overall drop in pandemic-related malware in 2020 and early 2021, its use increased considerably towards the end of 2021 as people started to return to the office.
The rise in malware incidence is also attributed to cryptojacking (secretly using a victim's computer to illegally create cryptocurrencies) and malware targeting the internet of things (malware targeting internet-connected devices such as routers or cameras).
According to Enisa, there were more attacks targeting the Internet of Things in the first 6 months of 2022 than in the previous 4 years.
3. Social engineering: exploiting human error to gain access to information or services
Tricking victims into opening malicious documents, files or emails, or visiting certain websites, thus giving attackers unauthorised access to systems or services. The most common attack of this kind is phishing (via email) or smishing (via text messages).
Nearly 60% of security system penetrations in Europe, the Middle East and Africa include a social engineering component, according to research cited by Enisa.
Most often attackers replicate the visual identity of organisations in the financial and technology sectors. They are also increasingly targeting cryptocurrency exchanges and their owners.
4. Data threats: targeting data sources for unauthorised access and data leaks
We live in a data-driven economy, producing huge amounts of data that is extremely important for, among other things, business and artificial intelligence, making it a major target for cybercriminals. Threats to data can mainly be categorised as unauthorised access (intentional attacks by a cybercriminal) and data leaks (unintentional exposure of information).
Money remains the most common motivation for such attacks. In only 10% of cases is espionage the motive.
5. Availability threats: attacks that block access to data and services (DoS).
These are some of the most dangerous threats to information systems. They are becoming increasingly large and complex. A common form of attack is to overload the network infrastructure and make the system unavailable.
Denial-of-service (DoS) attacks increasingly affect mobile networks and connected devices. They are widely used in the cyber war between Russia and Ukraine. Covid-19-related sites, such as vaccine websites, are also under attack.
6. Accessibility threats - threats that prevent access to the Internet.
These include the physical takeover and destruction of Internet infrastructure, as observed in the occupied territories of Ukraine after the invasion, as well as active censorship of news sites or social networks.
7. Disinformation - distribution of misleading information
The increased use of social media and online media has led to an increase in campaigns to spread disinformation (deliberately falsified information) and misinformation (distribution of misinformation). The aim is to cause fear and uncertainty.
Russia has used this technology to influence perceptions of the war.
Deepfake technology means that it is already possible to generate fake sound, video or images that are almost indistinguishable from the real thing. Online bots pretending to be real people can disrupt online communities by flooding them with fake comments.
8. Supply chain threats: targeting the relationship between organisations and service providers
This is a combination of two attacks - on the supplier and the customer. Organisations are becoming increasingly vulnerable to such attacks due to increasingly complex systems and a multitude of suppliers that are harder to monitor.
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