Cybercrime
Trends
2023

AI methods, such as deepfakes and voice cloning, are maximizing the success rates of social engineering by the minute. Many experts worry that the accessibility of generative AI solutions like ChatGPT will further democratize cybercrime and erode trust or even worsen political instability.

It’s now on organisations to keep up with criminals’ pace of innovation to protect themselves.

Social engineering tactics, such as business email compromises and romance scams, already generate billions for cybercriminals. But: It doesn’t stop them from improving their schemes. They are true experts at influencing human behaviour and make their victims – quite literally – pay the price when they inadvertently click on harmful content or disclose sensitive information.

A deep dive into the newest phishing tactics shows how we must prepare ourselves for an incalculable number of sophisticated attacks in 2023.

Cybercriminals spare no opportunity for attack – even when it comes to crises. They use the fear and uncertainty that come with them for unscrupulous emotional manipulation via phishing and the like. In light of current global events, geopolitics and cyber security have become inextricably linked: Tech and IT have become political.

Although geopolitical conflicts might be outside what we, as companies or individuals, can influence, we can work on how to prepare for and respond to these new challenges.

An unmotivated workforce undoubtedly negatively impacts overall organisational productivity. However, there is currently an even larger concern that might make companies more vulnerable to cyberattacks: Burnout in employees, especially in IT and cyber security professionals.

Understaffing, stress, and insufficient budgets draw the perfect picture for attackers, who take advantage of the fatigued workforce. How can you equip your organisation to handle this challenge?

The events of the past two years have been a stark reminder of how much our security depends on the security of others. Understaffing of security teams and the fact that many companies use outsourced solutions only widens the attack surface.

Regular reviews have, therefore, become key: Checking in on supplier performance and tracking changes in the relationship helps limit risks.

With a drastic increase in ransomware-as-a-service (RaaS), cybercriminals now diversify their business models. Today, attackers don’t need considerable IT knowledge – just a simple browse on the dark web and a crypto payment will do the job.

With harmful attacks being just a few clicks away, multiple extortion techniques booming, and an increased interconnectedness of supply chains, ransomware is an extremely profitable playground for cybercriminals worldwide. How do companies protect themselves from what seems to be just the beginning of a ransomware epidemic?

Gone are the days when email was the only channel hackers used to steal credentials and private information and cause company data breaches. As phishing becomes more diverse and sophisticated, attackers choose new platforms – or even use multiple ones in the same attack – to steal sensitive data from individuals and companies.

And while hackers are now exploiting new platforms to barge into our devices, the attacks also become harder to detect and avoid. It’s the reality we now live in: A new channel might always be a new gateway for cybercriminals.

Organizations have long relied on multi-factor authentication (MFA) as an effective measure to protect themselves from cyber security incidents. Although it has proven to be a significant obstacle for hackers, MFA can also be misused as an attack vector – as various large-scale data breaches in the past months have shown.

How it is implemented and the number of complementary security measures in place will determine how much your organisation can benefit from MFA.