2022's Top 3 Rising Cyber Threats

As Australia and New Zealand carry on the battle against Covid-19 and companies continue to move to a hybrid model of working, cybersecurity has become more important than ever. Cyber-attacks grew exponentially in 2021 and 2022 looks set for more of the same. Below are three rising threats companies are facing in the year ahead.

Ransomware and Phishing:

Ransomware attacks continue to threaten the security of critical data across the globe. Cyber criminals have exploited the pandemic by carrying out more large scale phishing attacks, affecting businesses of all sizes across Australia and New Zealand. These attacks succeed largely due to human error, as bad actors exploit vulnerabilities and adapt to create links people are more likely to click. There has been a rise in phishing campaigns that focus on topics in the news or trending on social media. Ransomware gangs are expanding and their operations becoming more sophisticated with some joining forces and evolving into cartels. RaaS (Ransomware as a Service) is becoming big business on the dark web. These hacker toolkits provide an easy way for criminals to carry out efficient and rapid attacks without having to create the malware on their own. In facing down these threats, organisations need to sure up their defences, secure endpoints and protect data, but it is becoming increasingly clear training and educating the workforce is also key in preventing ransomware attacks.

Supply Chain Attacks:

As bad actors continue to target vendors or suppliers to infiltrate larger organisations, supply chain attacks are a growing threat in Australia and New Zealand. As more companies rely on outsourcing, the risk to networks and infrastructure has risen significantly as there is more opportunity to target a vulnerable link in the supply chain. Sophisticated cyber criminals are targeting commonly used software in an attempt to gain access to multiple companies in one attack. Given recent breaches it is clear no one is above being compromised, even security software providers. As more discussion arises about how to prevent supply chain attacks, the conversation centres around zero trust architecture and an assume breach mindset. There is a need to increase third party risk assessments and continue to minimise access to sensitive data.

Artificial Intelligence Powered Cyber Attacks:

AI and machine learning technologies are set to increase the sophistication and speed of cyber-attacks across the world. While we are seeing advancements in these areas to strengthen cybersecurity, criminals are being empowered by similar technologies to carry out attacks. While these attacks may feel more futuristic, the threat is on the rise and needs to be addressed. According to a Gartner report, in 2022, 30% of all AI cyberattacks will leverage training-data poisoning, model theft, or adversarial samples to attack machine learning-powered systems. The discussion seems to be the best form of defence against these types of attacks will be AI.

These threats and more will be discussed in depth, by experts, at the upcoming Public Sector Network National Insights New Zealand complimentary virtual events. Secure your complimentary pass here to hear all about mitigating risks and protecting your data.

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