Cyber security is a constant battle against evolving threats. While most of the themes are the same, it is crucial to remain informed and up to date on the latest forms of every cyber threat. After all, 31% of executives said in a recent survey their main cyber security challenge was improper identification of key risks.

Most companies around the globe have a cyber security awareness plan in place, but it’s important to refresh it on a regular basis. Common attacks such as phishing and ransomware are always being refined, and new versions may leave your organization vulnerable.

This article will give you the seven most pressing cyber security threats for 2023, so you adjust your plans based on the threats your users may face.

1. Phishing

This isn’t news to anyone, but phishing attacks are still any company’s most common security concern. While users are now largely aware of the existence of this cyber attack, they may not be aware of its most recent evolutions and the types of social engineering associated with it.

The most common way to launch phishing attacks is via email. But in recent years, other methods of communication have been plagued with this cyber threat. Text messages, voice mails, and social media have been used to successfully target victims to steal money and sensitive information. Cyber criminals  have also advanced their techniques, by-passing technical barriers and reaching the eyes of their targets.

More and more cyber criminals focus on breaching people’s personal lives, hoping to find a way to steal their employer’s information down the line. One of the most impactful behaviors an employer can develop in its user base is actually showing them how to be cyber security aware in their daily lives.

2. Competency Gap

In a recent survey, 46% of companies said their highest cyber security investment will be in upskilling their employees. Keeping your users aware of cyber security threats is the best way to actually protect your organization in the long run.

Another skill gap issue is tied to the global hiring crisis. Properly trained IT talent is rare, and turnover tends to be high. Thankfully, global sentiment towards cyber security careers has changed in recent lives. These jobs are now seen as exciting, well-paying positions that many people can transition to during their lives.

3. The Rise of AI and Machine Learning

AI and machine learning have been hailed as massive technological advancements, and their effects have already been heavily noticed in the workplace. Sadly, these concepts have provided a similar acceleration to malicious actors, which tend to move faster than those with good intentions.

AIs can be trained to execute hacks faster and more efficiently, especially in the case of DDoS attacks. Since these algorithms constantly learn from their mistakes, they can find new and unexpected weak points.

Additionally, AI is becoming an increasingly cheap resource use, even free in the case of resources like ChatGPT. These chatbot-style AIs have already been used to create sophisticated pretexts for phishing or generate malicious code in a few simple questions without advanced coding knowledge.

4. Cryptojacking

A relatively new form of malware, cryptojacking has been among the most rampant in the past year. Cryptojacking is software that infects computers solely to drain off a small portion of computing power, daisy chaining multiple computers in order to mine cryptocurrency.

This security threat is launched as traditional malware via phishing or by injecting JavaScript in a web page. The latter is known as drive-by cryptojacking since it can be executed within a webpage without the need for the user to click on a download link or execute a file.

Most cryptojacking poses no actual threat to the device they infect in terms of a data breach, but their siphoning of computing power can have a massive impact on your network if several of your machines are infected.

5. Mobile Banking Hacks

Millennials are among the most common generations in the workplace, and they are by far the biggest users of mobile banking when compared to other generations. This means mobile banking hacks are sure to be one of the most common cyber threats in the coming year.

Phishing attacks, website spoofing and advanced social engineering are the most common vectors of attack in the banking industry. Money and banking are two of the best subject matters to inspire urgency and lead people to make mistakes they wouldn’t normally make.

Make sure your users are always aware of the various tells present in phishing and social engineering attacks so they are properly prepared when they happen to them.

6. IoT Attacks

More and more household items are being connected to the Internet. With the advent of remote working, these devices have become major security threats for businesses.

Most people opt for cheap versions of these gadgets that leave home networks exposed or simply have malware pre-installed on them. Even name-brand devices have been successfully targeted during IoT attacks, and this technology is too new for users to know how to secure them or recognize the signs of network compromise.

These devices are very convenient and popular, so they aren’t going anywhere, and their presence will likely explode in the coming years. Now is the time to build safeguards against these cyber threats, like robust VPN use for all employees and Zero Thrust Network architecture.

7. Supply Chain and Software Supply Chain Attacks

No matter the industry, companies now have interactions with other companies and suppliers around the world on a daily basis. Your company might have all the best and latest cyber security measures, but if your suppliers have looser requirements, your systems could be at risk of a data breach.

It might be an awkward conversation sometimes, but it is crucial to have a full cyber security review of any partner, old and new. Don’t just look at their measures; also scrutinize the web apps they use to communicate and share data with you for any recent breaches and potential vulnerabilities.

New and Old Cyber Threats for 2023

This list is by no means exhaustive, but it highlights the greater trends at play as a new year begins in the world of cyber security. The most important theme across all these cyber threats is collaboration. Whether it’s phishing, cryptojacking or supply chain attacks, the best way to be protected is to ensure everyone within your organization is aware and prepared.

As the workplace evolves and humans become more and more interconnected, the lines between personal and business cyber threats are quickly blurring. The roles of IT departments are changing, as they have to ensure their users are alert in their daily lives just as much as they are in the office. The role of your users is changing as they become system administrators of their home environment.



Cyber Security Hub: Access Exclusive Cyber Security Content

For more tips on building a cyber aware culture in your organization, visit our CyberHub.