What Are The Most Common Business Cyber-Attacks in 2023?

Cyber-attacks have been around almost as long as the internet has existed. Every year we become more dependent on the internet in our daily lives, and cyber hackers and viruses only evolve more, becoming more sophisticated. Each year, we find many new developments in the cybersecurity world – as cybersecurity tactics evolve, so do cybercriminals.

Knowing about the most common attacks will allow you to alter your cybersecurity plan, ensuring that you are better protected. Here are the most common cyber-attacks troubling businesses in 2023.

1. Phishing

Phishing has been one of the most popular types of cyber attacks amongst cybercriminals for over a decade, and it is only becoming more sophisticated as time goes on. Phishing attacks usually involve digital communication (such as a private message or email) that tricks the receiver into clicking on a bad link that will download malware onto their device. This malware will then steal all of your data.

However, hackers are upping the ante and using machine learning to make their emails and communications more believable, to hack into more systems. This has become one of the most successful forms of cyber attack in 2023, as cybercriminals are adapting their phishing methods.

2. Ransomware

Ransomware is responsible for some of the worst cyber attacks against businesses so far in 2023. Over the past couple of years, it has become one of the most popular forms of cyber attack and is one of the main ways cybercriminals will attack larger organizations.

Ransomware is a form of malware that will essentially hold your information to ransom, by encrypting it so it can no longer be accessed and demanding payment for its safe return. You can protect your organization against ransomware attacks by backing up your data and having strong cyber security measures in place to protect against malware such as this.

3. Cryptojacking

Now that more businesses and companies are including alternative investments in their investment portfolio, crypto is becoming an incredibly popular form of investment. If you have been paying attention to the news recently, you’ll know that cryptojacking is becoming a huge problem in 2023. Because of the high demand for cryptocurrency, cryptojacking has become commonplace.

Cryptojacking involves criminals hijacking private internet systems to ‘mine’ cryptocurrency, which uses a lot of energy. This could slow down your performance, costing your company a lot of money. It’s important to stay aware of this new form of hacking, so you can protect your company’s web usage and money.

4. Cloud Vulnerabilities

There are many advantages when it comes to using cloud storage for your businesses’ crucial information – it can be encrypted, it doesn’t take too much space, it is cheaper, and it is accessible from almost everywhere in the world. However, there are still risks involved – because it is all stored online, cybercriminals can access it.

5. Denial Of Service Attacks

Another major form of attack that is facing businesses in 2023 is denial of service attacks. Denial of service attacks, otherwise known as DOS attacks, involve flooding a network with false requests to overwhelm the servers and prevent the website from working. This can significantly disrupt business operations, as users on the website are prevented from going on the website and clicking on pages, and are unable to submit inquiries or buy items.

Recently, the independent fiction website Archive of Our Own was taken down by a significant DOS attack, which meant the website was down for over 24 hours. Most DOS attacks can be resolved quickly and without paying a ransom – they are also unlikely to result in data loss. However, they can cost an organization significant amounts of time, money, and resources.

6. Spoofing

Spoofing is also a key way in which your data could be at risk when you’re using the internet. Spoofing attacks refer to a technique that cybercriminals often employ to steal data and money. During a spoofing attack, the cybercriminal disguises themselves as a known or trusted source to extort vital information from a target. They could spoof an email or a domain which is almost impossible to spot.

Address Resolution Protocol (ARP) spoofing can also happen when a hacker infiltrates messages and tricks a user into messaging the hacker, instead of the intended source. Keep an eye out for spoofing attempts, as they are quickly becoming one of the leading cyber attacks in 2023.

7. Code Injection Attacks

Code injection attacks are a very sophisticated form of cyber attack, and they are only becoming more common by the day. A code injection attack often involves a cyber hacker injecting harmful malicious code into a vulnerable computer or network, which ends up changing its course of action.

For example, code injections could mean that data could be stolen as it will be sent to an unintended recipient due to the code change. On the other hand, the code change could then display malicious ads on a website, enticing users to click, and resulting in their information being stolen.

8. Supply Chain Attacks

Supply chain attacks are becoming incredibly common when it comes to businesses in 2023. The recent AT&T and T-Mobile hacks were revealed to have occurred because of a supply chain or third-party vendor attack. A supply chain attack occurs when cybercriminals don’t attack the main business’ data framework – instead, they target a trusted third-party vendor that offers vital services or software in the business’ supply chain.

Because this third-party vendor will often have access to key information about the business, cybercriminals can gain access to this information via these means. If you run a business in 2023, you should be aware of supply chain attacks.

These are all of the main cloud vulnerabilities that can result in your data being stolen – including misconfiguration, poor access control, shared tenancy, and supply chain vulnerabilities. If you want to protect your business against cloud hacking and the loss of your data, make sure to have a great cyber incident response plan in place. This will allow you to act quicker, and have a better chance of protecting your business.

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