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There is no end to cybersecurity challenges faced by all types of business. And no matter your company size or status, there are some modern attacks you need to look out for this year. Some classics are still in use. But modern tech, like AI, is also being used in complex cyber attacks.

Ransomware Demanding Payment

One of the most used types of cyber attack is ransomware because it is so effective. Basically, you are locked out of your network until you pay a demanded sum of money, usually in crypto. Fortunately, many co-managed IT support services and cyber security experts have strong methods of protecting you against these. These include backup and recovery plans, special malware software, and making sure your software and firmware systems are often updated.

Classic Phishing Attacks

Phishing is one of the oldest ways criminals try to gain access to your systems. Commonly they will pretend to be someone you know, usually in an email. But these emails are fake and contain links to malware. You should train your staff to spot these since these scams also often take advantage of modern issues. For example, you might receive an email from a supposed energy supplier offering you a cheaper deal. Or even fake emails from a well-known charity or cause.

Cybersecurity Challenges Include “Pig Butchering”

A newer but very destructive cyber scam is “pig butchering.” The idea behind this is that a scammer will befriend you and convince you to make small but numerous investments over time. Therefore, fattening the pig. This usually ends with the scammer asking for a large sum once you trust them. And then they make off with all the money you have given them. The payments are usually made with crypto, so they are anonymous and hard to track once taken.

Corrupted Data Analytics

As a modern business, you probably use data analytics for making decisions, such as purchases. But data can be corrupted and spread through analytics software. This is known as “data poisoning,” and it can be an effective way to divert your money to a scammer. For instance, you are fed the wrong data when making buying decisions. As a result, you enter into a contract or buy products and services from a scammer instead of a reputable company.

AI-Assisted Cybercrime

Artificial intelligence, or AI, is, of course, everywhere these days. And the uses are remarkably helpful. So helpful, in fact, that even criminals are figuring out ways to use AI to scam you. One of the main ways AI is used in a crime is for targeted attacks or gathering tons of data. This is because AI can do this infinitely faster than a human possibly could. Additionally, it is believed that many AI attacks can get around some of the standard security systems in place in IT.

Summary

All businesses face cybersecurity challenges. And as we move through 2023, the risks are bigger than ever. You need to be aware of ransomware, “pig butchering,” and AI cybercrime.