Reflecting on the Top Cyber Security Threats of 2023.

Lancashire, UK - 2024

Looking back on 2023 reveals the main obstacles and security dangers that businesses faced. This blog will outline the top threats seen in 2023:

Vulnerability in the cloud

Cloud storage has many benefits, like integrated firewalls, regular cybersecurity precautions, and encrypted servers with restricted access. Even though cloud storage is far safer than storing files on a hard drive, there are still some drawbacks. The National Security Agency has classified cloud vulnerabilities into four categories: supply chain vulnerabilities, shared tenancy, inadequate access control, and misconfiguration. Insecure APIs and the absence of multi-factor authentication are further issues.

Data Breaches

Businesses are experiencing data breaches on a regular basis, and this trend doesn't appear to be slowing down anytime soon. The average cost of a data breach was $4.45 million, the highest amount ever recorded, according to a recent IBM report.

Ransomware attacks

Businesses lose billions of dollars annually to ransomware attacks, where hackers literally take over an individual's or an organisation's database and demand a ransom for all the data.

Phishing attacks

Phishing attacks are getting increasingly complex. Phishing attacks involve sending carefully crafted digital communications to trick individuals into clicking on a link that can install malware or reveal personal data.

The rise of IoT

According to Statista.com, there will be 76 billion gadgets linked to the Internet of Things by 2025, meaning that the technology is becoming more and more widespread every day. Computers, tablets, routers, cameras, smart watches, home security systems, and appliances are all included in this.

Connected devices are helpful to consumers, and many companies are also utilising them to reduce expenses by gathering enormous amounts of insightful data and streamlining internal business processes. However, because more connected devices come with a higher risk, IoT networks are increasingly vulnerable to infections and intrusions. Hackers may use IoT devices to overrun networks, disrupt, or bring down essential infrastructure to make money.

What can businesses do to combat these threats going into 2024?

A recent study by Verizon showed that 74% of cybersecurity data breaches were caused by human error. Businesses should take the time and money to invest in proper security education and training for their employees to prevent this kind of breach.

Businesses should also invest in increased security methods, including audits and consultations, to strengthen their cyber defences. EvolveIT's IT support solution provides businesses with a 40-point audit, an intense audit that analyses every aspect of their IT infrastructure.

EvolveIT can help your business with a plethora of IT security needs, including proactive monitoring of your devices and IT landscape and preventing and resolving any cybersecurity threats.

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About Evolve Business Group and Evolve

Evolve Business Group is an independently owned company that specialises in providing end-to-end IT and managed network solutions to a range of businesses. Evolve is helping businesses to reduce costs and simplify the management of services and give business owners and their teams more time to do what they do best.

Founded in 2005, it has worked with a variety of clients across different industries around the world, building a team of highly experienced specialists to help create effective and efficient packages using any combination of different offerings. It keeps a range of cross-sector networks protected and connected.