THE TOP 10 CYBERSECURITY THREATS TO WATCH OUT FOR IN 2023
The ever-evolving nature of technology that has led to interconnectivity comes with significant cybersecurity risks. These cyber threats can cause significant financial and reputational damages to businesses. The increasing sophistication of cybercriminal tactics warrants continuous awareness of the latest threats. In this article, we discuss the top ten cybersecurity threats to watch out for in 2023.
Ransomware attacks involve encrypting data on an organization’s network, locking users out of the system, and demanding monetary payment in exchange for system control. In recent years, this type of attack has increased in frequency and severity, with the potential to affect even large corporations.
Phishing is a type of social engineering attack where attackers use fraudulent emails, phone calls, or text messages to deceive users into divulging confidential information such as passwords and credit card details. Cybercriminals use these tactics to gain access to sensitive data.
Malware is a type of malicious software that is intended to interfere with or damage computer systems, networks, and applications. It’s used to gain access to important data, disrupt operations, and control entire systems remotely.
4. SQL INJECTION
SQL injection attacks target back-end systems that rely on SQL databases, such as application servers or web servers. In a SQL injection attack, attackers leverage techniques that manipulate and exploit the input to an application that interacts with a SQL-based database. This grants them unrestricted access to the data.
5. CYBER ESPIONAGE
Cyber espionage is a type of cyber attack that involves theft or espionage of sensitive data that a company or individual possesses. Data espionage includes intellectual property theft, strategy plans, and other sensitive data of corporations.
6. INTERNET OF THINGS (IOT) VULNERABILITIES
Internet of Things devices can be used as backdoors by attackers to gain entry into business networks. Attackers can use the vulnerabilities of connected IoT devices to launch large-scale Denial of Service (DoS) attacks, spy on networks, or even plant malware in the system.
7. INSIDER THREATS
Cybersecurity threats not only come from external sources but also from the organization’s inside. Organizational insiders, e.g., an employee, can release malware-infected e-mails, steal confidential information, or commit other fraudulent activities.
8. ZERO-DAY EXPLOITS
A zero-day vulnerability is an unknown vulnerability in a computer software or application that cyber attackers exploit before the developer can identify and patch the problem. This kind of attack is especially dangerous because vendors or developers may not be aware of the vulnerability, and the attacks on it may go undetected.
9. SUPPLY-CHAIN ATTACKS
Supply chain risks refer to threats to the hardware, software, and services provided by third-party vendors to businesses. In the supply chain attack, attackers breach vendor networks and insert malware, providing them with access directly to the target organization’s systems. It’s the digital equivalent of breaking into a home by way of the doggie door.
10. MAN-IN-THE-MIDDLE (MITM) ATTACKS
MITM attacks occur when attackers insert themselves in the communication stream. Communication streams that do not use end-to-end encryption are at a higher risk of MITM attacks. While the attacker’s end-to-end encryption stream might point its users to safety, any cleartext traffic from the user could be intercepted and actions of the user mimicked.
Cybersecurity threats can have significant financial and reputational impacts on businesses. Being aware of the latest threats and taking proper cybersecurity measures is crucial for safeguarding your data and ensuring your business continuity. In summary, the top ten cybersecurity threats to watch out for in 2023 include ransomware, phishing, malware, SQL injection, cyber espionage, IoT vulnerabilities, insider threats, zero-day exploits, supply-chain attacks, and man-in-the-middle (MITM) attacks. By keeping informed about these threats and mitigating measures, businesses can stay ahead of cybercriminals and reduce the likelihood of a data breach or a security incident.
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