Nearly 60 million Americans have been impacted by identity theft, according to Norton Security. Cybercriminals are predicted to steal 33 billion data annually by 2023. Everyone is a target of these cyberattacks, but statistics indicate that small enterprises are among the most frequent victims. In actuality, small firms are the target of 43% of cyberattacks.
Fortunately, software and internet security measures are available to assist safeguard your company from fraudsters. We have selected 8 of the top cybersecurity risks for 2023 and what your team can do to avoid them in order to assist your company in being ready and safe for the next year.
We’ll also examine the four most typical internet assaults and a short history of cybersecurity. Continue reading to learn how to prepare your company’s cybersecurity for 2022 and beyond!
Top Cybersecurity Threats In 2023
The biggest cybersecurity risks for small and medium-sized enterprises in 2023 are the ones listed below.
Due to the extensive human use of electronic communication, phishing is one of the most frequent cyberattacks, as was previously established. With the rise of email and instant messaging in the professional sector, this issue is becoming much worse.
Why does the prevalence of internet communication make phishing more dangerous?
Every day, office workers get hundreds of emails and electronic communications. As the workday winds down, our fatigue makes us more prone to making poor choices.
Attackers are aware of this, thus some decide to target workers at this hour by flooding them with bogus emails and social network accounts. After all, all it takes is for one person to make a mistake for a hacker to compromise the integrity of a company.
Sadly, the Carle Foundation Hospital experienced this in 2019.
Hackers were able to access three of the employee’s email accounts using a phishing scheme. Following an examination, it was discovered that these accounts provided the hackers with access to private patient medical details and Social Security numbers.
2. Spam Phishing through SMS (Smishing).
At first sight, SMS-based phishing, often known as “Smishing,” could seem to come within the generic “phishing” category, but there are a number of important distinctions.
Smishing takes place using SMS text messages on your phone, as opposed to regular phishing, which often happens online through emails or web surfing.
How does it function?
A user’s phone receives an SMS text message from the attacker. Although there is a link in the text message, opening the message does not initiate the assault. The assault starts if the link is clicked.
Why do hackers choose SMS-based phishing over conventional email phishing more often?
Many email clients, like Microsoft Outlook and Google, are intelligent enough to recognize phishing emails and classify them as spam. This implies that the majority of phishing assaults go unnoticed by the typical email user.
But anybody may still get a text message and click on a dangerous link!
Typical smishing attacks: what are they?
- You get a message from “your bank” requesting your social security number.
- a “delivery carrier” requesting that you arrange delivery of a package.
- Other organizations are requesting information from you or having you click a link.
3. PDF fraud.
The aim of PDF scams, like phishing, is to get you to open an attached PDF. They include sending an email with a message that often announces that a security policy has changed or that an account statement has been attached.
However, clicking the accompanying PDF exposes your PC to viruses or ransomware.
Why are PDF frauds successful?
PDF scams often don’t require you to click on a link or provide information, in contrast to many email scams.
PDF con artists are aware that recipients of emails requesting a link click are wary. However, if a PDF seems to be a statement to balance with a press release, people are more inclined to open it.
Why are PDF scams so effective in the workplace?
PDF attachments are often exchanged in the workplace through email, Slack, and other messaging services. Because PDFs are linked to business in our minds, we are more inclined to relax and open them.
4. Ransomware and malware.
- missing data.
- system freezes.
- unauthorized software.
Straight Edge Technology believes that although if they are not focused on social contacts, these assaults will still be quite common in 2022, particularly in small firms.
Why do we believe non-phishing assaults will continue to exist?
Hackers are aware that every company maintains its data on web-connected servers. They just require one security hole in your system to carry out the assault.
Pitney Bowes Inc. has had firsthand experience with this.
Pitney Bowes Inc. provides mailing, logistics, and e-commerce support for small enterprises.
They were the target of a virus assault at the beginning of 2019 that disrupted the way customers could access the company’s services and encrypted data on some of their systems.
Despite the fact that there was no proof that client data had been taken, the infection severely damaged the company’s systems. Customers were unable to access their accounts, submit transactions, or reload their stamps.
Pitney Bowes Inc. promptly sent their technical team to examine and remedy the problem after realizing they had been attacked. Additionally, they hired outside IT professionals to stop future intrusions.
5. Exposure to databases
Exposure to databases is what it sounds like: A security lapse leaves database information vulnerable to theft or hacking. Multiple methods may result in database vulnerability.
To acquire login credentials, some hackers utilize social engineering techniques, while others use malware.
In 2022, database exposure will be a major concern, according to Straight Edge Technology, because the majority of businesses use servers to host customer information. The majority of corporate databases include contact details for customers, financial information, or identification data like Social Security numbers.
The fuel that database exposure provides for social engineering assaults is one of the major problems.
Consider the scenario when a firm exposes names, email addresses, and birthdates from a database vulnerability.
Using this data, a hacker might send each individual an email posing as a local hospital and include their name and birthday. Because the email contains their name and birthday and so looks to be real, these individuals are more likely to click on a link in it.
Recently, when two employment websites, Authentic Jobs and Sonic Jobs, neglected to configure their cloud databases as private, some 250,000 American and British job searchers’ personal information was made public.
Personal information, such as contact details, email addresses, license numbers, and anticipated salaries, became public as a consequence.
The two firms promptly made their databases private after learning of the vulnerability.
Although it is uncertain how much of this data was taken by hackers, it offered a veritable gold mine of personal information for conceivable cyber social engineering attempts.
6. Credential Stuffing.
Attacks aimed at gaining user access using login credentials are known as credential stuffing. The most frequent instance of this is when the same login information is used across several websites or accounts.
Since the majority of programs are online, Straight Edge Technology anticipates that credential stuffing will pose a serious concern by 2022.
The Canadian postal service, Canada Post, recently learned that some of its subscribers’ account information had been breached in 2017 via credential stuffing.
Although it was unclear how many accounts were affected, Canada Post started resetting all of their users’ passwords right away.
It was discovered throughout the investigation that Canada Post was not at fault.
Instead, the majority of the accounts were accessed because users shared their login information across various websites, including Canada Post.
The consequence was that if a user’s account was compromised on another website and the individual shared their login information with Canada Post, the hackers could access both accounts.
How iTechwares Can Help To Protect Your Business From Upcoming Cybersecurity Threats?
The cybersecurity threats landscape is changing continuously. You also need to be aware of this changing landscape. But, it is not possible to do the cyber-tasks on your own. So, how will you protect your business and money from the everchanging cybersecurity scopes?
iTechwares has vast experience in protecting businesses from such kinds of cyber threats. We use modern technologies and techniques to protect businesses from hackers. Contact us today to get the best cybersecurity service in this hacking-prone world.
Cybersecurity is more important now than ever in a world where everything is connected by the internet. Even if having IT services and modern software and hardware is crucial, it is also crucial to realize that today’s hackers use social engineering attacks to target human behavior. Thank goodness for training, software, and assistance for both private citizens and small enterprises!