Cyber threats to organisations in 2023

1.     Organisational Email Compromise

Organisational email compromise is a cybercrime involving the use of emails which appear to originate from a trusted source. The Cybercriminals attempt to deceive the recipient into potentially sending money urgently to fraudulent bank accounts or divulging confidential company information.

Cyber trends and studies indicate that this form of cybercrime has now become one of the most common, and costliest to organisations. The FBI’s Internet Crime Complaint centre estimate that between 2016 and 2021, the cost to organisations of email compromise was in excess of $43 billion.


2.     Malware and Ransomware Threats

Malware is defined as any software intentionally designed to cause disruption to a computer, server, client, or computer network. It is purposefully inconspicuous so that it can be used to gain backdoor access to an organisation’s networks and control of their devices. The impacted devices and network give a cybercriminal the power to steal and/or encrypt an organisation’s data. Once this has occurred, cybercriminals are in a position to demand a ransom to decrypt the organisation’s data.

3.     Phishing

Phishing is the practice of obtaining information from users through psychological manipulation or deceit. It is one of the most common forms of cyber-attack. The term itself refers to the use of lures by the cybercriminal to ‘fish’ for sensitive information. Phishing can take several forms, including emails, texts, even voice calls. All forms of contact are made to appear as if they are coming from a legitimate source. Phishing emails for example, attempt to use a link to divert an unsuspecting user to a fraudulent website, where they will then be encouraged to enter personal information, such as their credit card details or login credentials. This sensitive information is then used by the cybercriminals for illicit purposes.

4.     Shadow IT

Shadow IT is any system, solution, or software, used by an employee without the permission of an organisation’s main IT department. It is often deployed in response to employees’ frustrations at perceived or real limitations in the approved IT solutions provided by employers. On occasion, whole departments of organisations have been found to have adopted shadow IT solutions to meet their needs. Shadow IT may well come from a recognised, legitimate provider, but the introduction of systems, solutions, or software that the main IT department may neither know about nor control, poses a unique cyber threat to the whole organisation.

Examples of Shadow IT:

- Transferring data from work to personal USB or cloud storages
- Using unofficial communication platforms for work
- Using personal devices without a bring your device to work policy

4.     Insider threats

An insider threat is the potential for an insider to use their authorised access or knowledge of an organisation, to harm that same organisation. It may involve the unauthorised disclosure of information, with the intent to cause loss of resources or capabilities. This type of threat could occur both unintentionally via negligence, or intentionally / maliciously, and is not limited to an organisation’s direct employees. Contractors, vendors, business partners, are often granted access to a level of organisational data to perform their roles or may gain knowledge by regular, on-site presence. These type of threats are considered more difficult to defend against than external attacks because an insider will be familiar with and can likely by-pass security measures through legitimate means.

Cyber-criminals are consistently evolving new ways and means of performing more complex, lucrative attacks on high value targets in the corporate world. Maor Cyber Security has the necessary expertise and experience required to work closely with our client-organisations to ensure that their cyber security strategies are mitigating against the risks posed by cyber-attacks.

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