Top 5 Prevalent Cyber Security Threats

 Since the dot-com boom in the late 1990s, cyber security has been a significant aspect of global security. More than two decades later, unprecedented events such as a contentious election and growing socio-political unrest related to the coronavirus disease (COVID-19) pandemic have led to an increase in the number of cybercrimes in just a few years and led to an explosive increase in severity.

 The cyber threat landscape is evolving, with attackers continually adopting new tactics based on a variety of factors, including the success of their endpoint security tools. It may go without saying, but there will be no shortage of alarming cyber threat trends in 2023, but risk management services UAE, can help you with your cyber security, which will be explained below.

 The MOVE it attack highlighted that some threat actors are moving away from encryption-based ransomware awareness to data theft and pure extortion. Many attackers are reducing their reliance on malware and instead using tools such as remote monitoring and management (RMM) that are less likely to be captured by endpoint security products. For similar reasons, identity-based attacks that use compromised credentials to bypass endpoint detection and response (EDR) continue to grow. Phishing and social engineering continue to pose a significant threat to businesses across all sectors.

 The following are some of the most prevalent Cyber security threats right now:

 

1.     Invoice Fraud

Accounts payable fraud, where an attacker poses as a seller and sends an invoice to the intended victim using their account number, is not new. However, researchers have discovered a new, even more insidious take on this threat.

 Here's how it works:  Once an account is compromised, the attacker sets up a rule to route incoming invoices to him, then deletes the invoice so the victim can't see the actual invoice. The attacker then modifies the invoice to include his account number and sends it to the victim. This is called leveling up. Companies like Ahad, a GDPR Consultancy and Advisory are designed to provide insight and insight into existing security practices and regulatory compliance requirements. Their experienced cybersecurity consulting experts evaluate your policies, processes, and procedures to provide recommendations that align with your business objectives, reduce risk, and protect your brand.

 

2.     Social Engineering

Social engineering remains one of the most dangerous hacking techniques used by cybercriminals. The main reason for this is that social engineering relies on human error rather than technical vulnerabilities. This makes these attacks even more dangerous. The difficulty level is greater when it comes to deceiving humans than when breaking security systems.

 

In 2023, social engineering tactics will become a key way to obtain employee data and credentials. More than 75% of targeted cyber attacks begin with an email. Phishing is the leading cause of data breaches, followed by stolen credentials and the use of ransomware. Phishing and email spoofing continue to evolve, incorporating new trends, technologies, and tactics. For example, cryptocurrency-related attacks increased by nearly 200% between October 2020 and April 2021, and are likely to continue as Bitcoin and other blockchain-based currencies continue to rise in popularity and price is also expected to pose a major threat.

 

3.     Configuration Errors

Even with professional security systems, there is a high chance that at least one error will occur during software installation and setup. In a trial run, Rapid7 attempted 268 times and found exploitable misconfigurations in 80% of its external penetration tests with Risk Management Services UAE, you can keep your systems protected from such threats. In tests where the attacker gained access to internal systems (i.e.) attempts to simulate third-party access or physical office intrusion), the number of exploitable configuration errors increased to 96%.

The combined effects of the COVID-19 pandemic, socio-political upheaval, and continued economic stress have increased the number of careless mistakes employees make in the workplace, making cybercriminals more likely to make them. This could create even more opportunities for exploitation.

4.     Mobile Device Vulnerabilities

Another pattern brought about by the COVID-19 pandemic is the increase in mobile device usage. Not only are remote users increasingly reliant on mobile devices, but pandemic experts are encouraging mass adoption of mobile wallets and contactless payment technologies to curb germ transmission. As the user population grows, so do cybercriminals' targets. Cybercriminals, ironically, are using mobile device management designed to help them manage corporate devices in a way that guarantees the security of corporate data.

 They are also starting to target systems. Because MDM is connected to an entire network of mobile devices, a hacker can use her MDM to attack all employees in a company at the same time. A, GDPR Consultancy and Advisory company like Ahad can help you find the best solutions to help keep your cyber security up to date.

 

 

5.     Third-Party Susceptibility

Cybercriminals can bypass security systems by hacking into poorly protected third-party networks that have privileged access to the hacker's primary targets. Hackers leaked personal information from over 214 million Facebook, Instagram, and LinkedIn accounts in early 2021, making it a major example of unauthorized access to personal data. The hackers were able to access the data by infiltrating a third-party vendor called Social Ark, which was employed by all three companies and had privileged access to their networks. In 2023, third-party breaches will become an even more pressing threat as more companies rely on independent contractors to perform tasks previously performed by full-time employees.