The most common cyber threats to companies

Cyber security has become a central topic in the digital world, as companies and individuals strive to protect their data and systems from a wide variety of threats. This is not surprising, as the number and complexity of cyber threats have exploded in recent years. For example, ransomware attacks are one of the biggest cyber threats businesses can face. In this article, we take a closer look at what cyber threats are, how they work, and how we can protect ourselves from them by means of cyber security.

Cyber threat (Cyber threat) definition

"Cyber threat refers to a possible danger or harm that can affect information systems or information networks. It can originate from external factors, such as hackers or government independent actors, or from internal factors, such as careless employees or faulty software. Cyber threat (Cyber threat) A cyber threat is a threat that, when realized, endangers a vital function of society or another function that depends on the cyber environment."

Cyber threats in 2023 – 11 most common threats to businesses and citizens

1. Ransomware attacks

Ransomware works so that hackers take control of the data and demand a ransom to regain control. According to statistics, attacks have become more complicated and ransom demands have skyrocketed these days. For example, in 2019 the largest ransom demand was 13 million euros, but in 2021 it was already 62 million. Globally, ransomware already caused 18 billion euros in losses for companies in 2021, which is almost 57 times the level of 2015. Ransomware attacks are one of the biggest cyber threats in the EU, stealing more than 10 terabytes of data every month. Source ENISA report.

2. Malware

Malware, such as viruses, worms, Trojan horses and spyware, damage corporate information systems. Although their occurrence decreased globally during 2020 and 2021 (as a result of the pandemic). however, they made a strong comeback towards the end of 2021, moving back from remote work. Cryptojacking, where the victim's computer is secretly used to generate cryptocurrency, and Internet of Things malware have also increased the number of malware. These malware especially target devices connected to the internet, such as routers and cameras.

3. User manipulation and data fishing

In user manipulation, attackers trick people into opening dangerous files, emails, or visiting malicious websites. The goal is to gain access to systems or steal sensitive information. Phishing via e-mail is particularly common, where fraudsters may pose as representatives of a bank or a technology company, for example. According to ENISA's research, even 60% of data security breaches in Europe, the Middle East and Africa are related to user manipulation.

4. Threats to data

The increase in the amount and importance of data makes it an attractive target for cybercriminals. Data threats fall into two main groups: security breaches, where cybercriminals purposefully attack information systems, and information leaks, where information is leaked unintentionally. Most of these are done in the hope of financial gain and only 10 % of them can be connected to espionage. As an example, the information leak of the Counter.

5. Denial of service attacks that prevent the use of data or services

Denial of service attacks aim to overload information systems, rendering them unusable. Mobile networks and the devices connected to them are increasingly being targeted. These attacks have been seen hugely in the cyber war between Russia and Ukraine. The corona pandemic and vaccine discussions also increased the number of these.

6. Threats to Internet availability

These threats include the physical takeover and destruction of internet infrastructure and the censoring of news or social media websites.

Threats to Internet access are related to the physical control and destruction of the network, as seen in conflict situations, for example in Ukraine. Another major concern is the restriction of information transmission by censoring news and social media sites. It is important to be aware of these threats as well and protect yourself from them, so that we can preserve the freedom of information and the openness of the internet.

7. Misleading information and its effects (misinformation and disinformation)

The growth of social media and digital media has opened the doors to disinformation, which is intentionally distorted information, and misinformation, which is unintentionally false information. This misleading information is often spread to create fear and uncertainty among the public. With the development of technology, deepfake technology has also emerged, which enables the creation of convincing fake audio, video and image files. In addition, automated bots impersonating real users can disrupt online communities with their massive comment volumes.

8. Supply chain vulnerabilities and their effects

Supply chain attacks target the relationships between organizations and their suppliers, and both suppliers and customers of the companies can be targeted. Modern systems have grown more complex and the number of suppliers has increased, which makes monitoring them challenging. This increases the vulnerability of organizations and highlights the need for tighter supply chain security.

9. Well-targeted scam campaigns

In cyber security, one human error is the biggest risk. Companies may fall for scams, such as false invoices or "technical support" calls in which the call comes from a Finnish number and requests various actions in which the thief is given access to your computer or other information. Situations like this require information security training within the company, which equips employees to recognize threats and act correctly.

10. Cloud storage challenges and solutions

Cloud storage is modern, but it comes with risks. Many people don't realize how easy it can be to hack data without proper protection online. Technical problems can arise on both sides, so quick technical support is more expensive than gold. Even though big players like Microsoft and Google are global, their support is not necessarily available in Finnish. SafeCloud offers domestic cloud storage and fast support in Finnish, which is especially important if your data is sensitive and you want it to stay in Finland.

11. Tailored solutions for remote work

In the past, when the pandemic forced companies to quickly switch to remote work, information security could remain secondary. This rapid change brought with it risks: the settings of WiFi routers could be left unchecked, VPN connections might not be activated, and antivirus programs might not be updated. In addition, the processing and storage of sensitive information at home may have been very inadequate. This emphasizes the need to invest in information security training and preparation so that similar situations do not come as a surprise in the future.

Cyber threats to production networks

OT networks (Operational Technology) that is, functional technology networks are particularly critical for many industries, such as manufacturing, energy production, and traffic management.

OT networks have traditionally been isolated from IT (Information Technology) networks, but with digitization and the Industrial Internet (IIoT), these two networks are increasingly interconnected. This merger brings with it many new cyber security challenges.

Here are some of the most common cyber threats that businesses using an OT or production network may face:

1. Hijacking of devices and systems: Attackers can take over industrial automation devices and use them for malicious purposes.
2. Sabotage and denial of service attacks: Attackers may aim to interrupt production processes or cause physical damage.
3. Entering wrong information: Attackers can change information produced by sensors or other devices, which can lead to wrong decisions or dangerous situations.
4. Ransomware: Industrial facilities can be particularly vulnerable to ransomware, as production interruptions can be very costly.
5. Non-updated hardware and software: Many OT systems are outdated and have known vulnerabilities that make them easy targets for attackers.
6. Non-isolated networks: Although OT networks should be isolated, in practice they are often connected to IT networks, which can expose them to attacks.
7. User errors: User errors, such as using weak passwords or opening malicious email attachments, can lead to security breaches.
8. Physical access: Because OT networks are often physically located in industrial facilities, they can be vulnerable to physical attacks.
9. Abuses by insiders: Employees or other insiders with access to OT networks can intentionally or accidentally cause damage.
10. Communication with external devices: OT networks can communicate with external devices such as mobile devices or laptops, which can introduce threats.

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