Are you protected against cyber threats? October is Cyber Security Month 2023 and to mark the occasion, client director Gavin Baxendale, who leads Ogier Regulatory Consulting's cyber security services, takes a look at the biggest threats in the sector.
What is Cyber Security Month?
Also known as National Cyber Security Awareness Month (NCSAM), Cyber Security Month is an annual event observed in the UK, US, and Europe to promote the importance of cyber security. It aims to enhance understanding and encourage good cyber practices among individuals, businesses, and organisations.
During this month, government agencies, non-profits and cyber experts collaborate to offer educational materials, workshops, and events on topics like online safety, password security, and the importance of updating software. The campaign encourages proactive measures against cyber threats and emphasises the collective responsibility in cyber protection.
By being informed and practising secure habits, everyone can better protect themselves in the digital era.
The focus of Cyber Security Awareness Month 2023
This year's theme is #BeSmarterThanAHacker. It underscores the essential knowledge and tools employees should possess to defend themselves and their organisations against cyber adversaries.
It is crucial for employees to be educated in recognising cyber threats and to be equipped with the right practices to thwart them. With employees being implicated in more than 90% of successful cyber breaches, they remain a primary target for contemporary cyber-attacks. Criminals aim to exploit them to infiltrate vital business systems, access confidential data, and redirect funds.
The biggest cyber security threats in 2023
Phishing attacks –when an attacker uses email or messaging to try and trick the recipient into "doing the wrong thing" such as clicking a malicious link that will download malware or direct them to a bad website and revealing confidential data – are by far and away the biggest threats, making up 89% of attacks on businesses and 85% and on charities, according to chapter six of the UK Government's 2023 Cyber Security Breaches Survey, out of 346 business and 172 charities that have identified a cyber crime in the last 12 months.
The other threats, while lower in terms of the frequency of attacks, are no less dangerous. They include virus, spyware or malware with 12% for business and 7% for charities, followed by hacking (unauthorised access or online takeovers) at 7% for business and 8% for charities, ransomware (4% for both businesses and charities) and denial-of-service attacks (2% for businesses, 1% for charities).
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