As we enter 2024, businesses will face a range of sophisticated cyber threats, both old and new, that can compromise sensitive data, disrupt operations, and tarnish reputations.

It’s enough to make any manager’s head spin.

In light of these difficulties, investing in cybersecurity training for employees becomes not just a cautious choice but an essential strategy to protect organisational defences.

Join us as we explore this year’s challenges and how cybersecurity training can help your organisation combat these damaging threats.

Why every business needs cybersecurity awareness training in 2024

A new set of challenges:

Cloud technologies and the Internet of Things (IoT)

As businesses increasingly adopt cloud technologies and the Internet of Things (IoT) – think smart fridges and gadgets – the chances of cyber trouble increase.

Many IoT devices lack robust security measures, making them susceptible to hacking. The introduction of 5G technology further amplifies risks, enabling faster and more sophisticated attacks. To mitigate these dangers, organisations must prioritise strong security protocols, regular updates, and continuous monitoring.

Artificial Intelligence (AI)

In 2023, Artificial Intelligence (AI) became a game-changer, revolutionising industries and sparking conversations across the globe.

While its positives are undeniable, AI has brought about new vulnerabilities, enabling faster, more innovative cyber attacks on organisations.

As we step into 2024, cybercriminals are gearing up to elevate AI-led attacks, such as:

Ransomware attacks

The evolution of ransomware attacks over the last five years has been remarkable, with attacks growing more and more sophisticated, and that pattern is unlikely to change in 2024.

With AI tools enabling ransomware A/B testing at scale, cybercriminals are testing new tactics, such as double extortion and AI-driven attacks, making these threats more deceptive.

Phishing attacks

Phishing attacks are on the rise in 2024, reaching new levels of sophistication – Advanced tools like ChatGPT make phishing attempts appear genuine, posing challenges in detection. Typos and grammar errors, once red flags, might become harder to spot.

The H Factor

The Human Factor – while technological advancements contribute to the digital landscape’s complexity, it’s crucial to recognise that humans play a pivotal role in cybersecurity.

Employees, often unintentionally, become channels for cyber threats through actions such as clicking on malicious links, falling victim to phishing schemes, or using weak passwords. Indeed, Government research has found 90% of breaches occur as a result of human error.

Cybersecurity training addresses this human factor by instilling awareness and best practices, empowering employees to become protectors of organisational data.

How can cybersecurity training protect your organisation from these threats?

Adaptability to emerging threats

Cyber threats are dynamic and ever-evolving.

A comprehensive cybersecurity training programme equips employees with the knowledge and skills to adapt to emerging threats.

Organisations can proactively defend against the latest cyber risks by staying ahead of the curve.

Protecting sensitive data

In an era where data is a valuable asset, protecting sensitive information is paramount.

Cybersecurity training educates employees on data protection best practices, reducing the likelihood of data breaches that can have severe consequences, both financially and in terms of reputation.

Mitigating ransomware risks

As discussed, ransomware attacks have become more sophisticated, often targeting organisations with the potential for significant financial gain or lax security procedures.

Cybersecurity training teaches employees to recognise and respond to ransomware threats, minimising the risk of falling victim to these malicious attacks.

Building the human firewall

Employees are the first line of defence against cyber threats.

Cybersecurity training reinforces the importance of attention and compliance to security protocols, effectively turning your employees into formidable human cyber heroes who can protect your organisation’s digital assets.

Choosing Bob’s Business as your cybersecurity training partner

Bob’s Business are the UK’s Most Trusted Cybersecurity Awareness Training provider, equipping organisations with the knowledge and skills needed to protect sensitive data

• Tailored learning solutions: We understand that every organisation is unique. Our eLearning modules are designed to cater to specific industry needs, ensuring that employees receive relevant and targeted cybersecurity training.
• Engaging and interactive content: When training is boring, lessons don’t stick. Our gamified eLearning modules are crafted to be engaging, interactive, and memorable, ensuring employees retain crucial cybersecurity concepts and best practices.
• Real-world scenarios: Our training goes beyond theoretical knowledge. We incorporate real-world scenarios and case studies, allowing employees to apply their cybersecurity skills in simulated environments and preparing them for the challenges they may face in the digital landscape.
• Continuous updates: The cybersecurity landscape is dynamic, and so is our training content. We regularly update our modules to reflect the latest threats, technologies, and best practices, ensuring your employees stay ahead of potential risks.

In the face of escalating cyber threats in 2024, cybersecurity training is not just a precautionary measure; it’s imperative.

Empower your workforce with the knowledge and skills to prevent cyber threats and fortify your organisation’s defences today. Discover our range of affordable training solutions.

2024 is here, and although the year is new; the cyber threats organisations face are not.

Now, a new report from the US-based Identity Theft Resource Center (ITRC) has confirmed that human error continues to be one of the leading causes of data breaches and cyberattacks for small businesses.

Based on a survey of over 500 small business owners and leaders, the report highlights the need for small businesses to focus on reducing insider threats through training and policies.

In this blog, we’ll share some of the key findings from the report and what small businesses across the world can do to reduce human error-related breaches.

Let’s get started!

Key findings from the ITRC Report:

• In the past year, 73% of small businesses experienced a cyberattack or data breach.
• Malicious insiders caused 30% of cyber incidents.
• 21% of breaches were linked to remote workers.
• 53% of small businesses had financial impacts over $250,000 (£197,000).
• 85% of small business leaders feel prepared to respond to cyberattacks.

How small businesses can reduce human error in cybersecurity

While technical defences like antivirus and firewalls are important, they can only go so far.

With the ITRC’s report in mind, here are some tips for building a culture of awareness and reducing risky behaviour:

Implement robust security training

Regular security training is essential to ensure employees know how to spot phishing emails, create strong passwords, and follow safe browsing habits.

Stressing the importance of vigilance and the role each employee plays in protecting company data is key in building a positive security culture within your organisation.

Enforce strong password policies

Strong passwords are a fantastic way to prevent easily avoidable breaches. Require your employees to use passwords with a minimum of 12 characters, with upper and lowercase letters, numbers, and symbols.

Equally important is that each password your employees use is completely unique to each service. A password management tool is a great way to store those unique, complex passwords.

Limit access to sensitive data

Restrict access to confidential company data and customer information only to employees who need it for their job duties. This helps prevent insiders from intentionally or accidentally mishandling data.

Frequently backup critical data

Regular backups help minimise disruption from ransomware and accidental data loss due to human error. Test restores periodically to verify backups are working correctly.

The ITRC report is a reminder that cybersecurity requires both technological defences and thoughtful policies around employee behaviour. Reducing human error through training and smart data hygiene practices is one of the most effective ways small businesses can improve their security posture.

At Bob’s Business, we make reducing human error simple for organisations of all sizes. Whether it’s our NCSC-certified short-form training, award-winning phishing simulations or affordable culture-change solutions, we’re your ultimate cyber training partner.

Click here to learn more about our products.

There’s been an awful lot of hay made in 2023 regarding ChatGPT and other generative AI tools. Some of it worthwhile, others not quite as much.

These tools enable users to enter prompts to receive humanlike images, text, or videos created by AIs that have been trained on vast data sets of human-made writing, recordings, and art.

While ChatGPT from OpenAI was among the first generative AI tools to gain popularity, it has since been joined by efforts from Google, Microsoft and others – pushing innovation and encouraging a race to develop the most ‘helpful’ solution possible.

In this blog, we’ll look into a new ChatGPT feature that has raised concerns about potential misuse and risks that could empower criminals with cutting-edge AI tools.

Let’s explore.

ChatGPT used for creating convincing scam texts and emails

The BBC recently broke news about a new feature that lets users create their own AI assistants.

This feature allows users to build customised versions of ChatGPT for ‘almost anything’ without complex coding skills.

The BBC put this chatbot feature to the test and conducted their experiment to see how the bot would react.

BBC News subscribed to the paid version of ChatGPT and created a personalised AI bot to generate text using techniques aimed at convincing individuals to click on links or download files.

The bot employed psychology tricks to spark “urgency, fear, and confusion,” mirroring tactics employed by real-life hackers.

The content contained persuasive texts using common scam techniques and it demonstrated the ability to generate content in multiple languages.

BBC News conducted tests on five widely recognised scam and hack techniques, revealing the potential cyber threats that could emerge as a consequence of this new AI.

The BBC asked the chatbot to help it to aid them with crafting well-known scams

• ‘Hi Mum’ Text Scam – an emotional text that uses emojis and slang to trigger the emotions of a mother.
• Nigerian Prince Email – a common scam email that appeals to human kindness
• Phishing test – a social engineering email that persuades users to click on links and share personal information
• Crypto giveaway scam: targeting social media users through a tweet, enticing them with a misleading cryptocurrency giveaway.
• Spear phishing emails – a common threat where individuals unknowingly download harmful data from unsafe websites through misleading emails.

The investigation results

The bot showed it could create emails quite well, adjusting the language for different situations using multiple languages, emojis, and slang.

However, only the paid version of ChatGPT was willing to create these texts, sometimes adding disclaimers that were considered unethical.

Interestingly, every time the free version of ChatGPT was asked, it refused, stating, ‘AI could not help with a known scam” technique,’ except for the spear phishing email – which it did create but with less detail and technique.

We conducted our own test:

On the 14th of December, 2023 at 14:27 we put Chat GPT to the test ourselves.

“User: Create a Hi Mum Text Scam

ChatGPT: Hey Mum! 😢 Just got caught in a crazy situation 🚖. Need a quick favour – can you send some cash for a taxi? 🆘 It’s urgent! Your fav daughter is always in a pickle 😅🙏”

At first glance, receiving this message could be quite persuasive, considering its convincing elements: the straightforward scenario, the text format, the urgency, and the modest amount of money requested.

Open AI responds

Open AI responded that the firm is “continually improving safety measures based on how people use our products.

We don’t want our tools to be used for malicious purposes, and we are investigating how we can make our systems more robust against this type of abuse.”

The company promised to review ChatGPT to prevent users from creating communications for fraudulent activity.

How to protect your organisation from AI scams

Employee training and awareness:

Conduct regular training sessions to educate employees about AI-related scams, emphasising the importance of scepticism and caution.

Make them aware of common tactics used by scammers and the potential risks associated with AI-driven attacks.

Implement robust email security measures:

Strengthen email security with advanced filtering systems that can detect phishing attempts, including those leveraging AI-generated content.

Verify unusual requests:

Encourage a culture of verification, especially for unusual or unexpected requests, even if they appear to be from known sources.

Establish clear communication channels for employees to confirm the legitimacy of any unusual or sensitive requests.

Utilise our new guide:

Explore our recently released guide on AI security, offering valuable insights into adopting AI confidently and securely. Learn about demystifying key AI concepts, maximising benefits for your business, mitigating risks, and implementing responsible AI policies.

By incorporating these strategies, including the guidance from our new AI security guide, your business can significantly reduce the risk of falling victim to AI scams.

How Bob’s Business can help your organisation enhance its cyber awareness

At Bob’s Business, we’re here to bolster your organization’s cybersecurity culture, ensuring you’re safeguarded against the risks of AI scams.

Our immersive, gamified cybersecurity training empowers your team with the skills to spot and report online threats, including those tied to AI scams.

We understand that your business is unique. That’s why we offer personalized cybersecurity strategies that align precisely with your needs.

Ready to take on AI threats? Click here to access your complimentary guide and begin your cybersecurity journey today.

2023 is drawing to a close, and though it’s been a year of success for many, it’s witnessed other organisations facing a whole host of new cyber challenges.

Indeed, the last twelve months have found more large and small companies facing security breaches that caused severe repercussions.

However, we can learn a lot from these incidents to improve your organisation’s defence against similar attacks. So, let’s take a closer look at some of the most significant breaches that occurred in 2023.

Q1 2023: T-Mobile, Mailchimp, The NHS

T-Mobile

T-Mobile, the US wireless carrier, experienced its second data breach in under two years on January 5th, exposing the personal data of 37 million customers.

The breach followed T-Mobile’s recent pledge to enhance data security. Although contained within a day, the incident cost the company heavily and eroded customer trust.

This marks T-Mobile’s second breach, the prior one leading to a $350 million settlement in August 2021.

Two attacks in a short space of time is not uncommon, as once a company has been identified as susceptible expect even more activity from cybercriminals.

MailChimp

MailChimp experienced a data breach with over 133 users affected by a social engineering attack on an internal customer support tool.

Hackers gained unauthorised access to employee information and credentials, prompting MailChimp to identify and suspend compromised accounts.

This incident followed previous breaches in April and August 2022. The recurrence underscores the need for robust cybersecurity processes to prevent hacking attempts and protect sensitive information effectively.

NHS

A significant NHS data breach exposed the personal details of thousands of patients due to a phishing attack targeting an employee’s email account.

The compromised information included patient names, addresses, phone numbers, medical details, diagnoses, and treatment specifics.

The attacker exploited this data for a subsequent spear-phishing assault on other NHS staff. NHS acknowledged the breach’s impact on thousands of patients and is implementing preventive measures.

Regular reviews of security policies are crucial to minimising the risk of such errors and enhancing overall data protection.

Q2 2023: MOVEit, Capita, UoM

MOVEit

In June 2023, a significant data breach targeted the widely used file transfer tool MOVEit, impacting over 100 organisations globally.

With alleged ties to Russia, the Clop ransomware gang orchestrated the hacking campaign. Allegiant Air reported unauthorised access to the personal information of 1,405 individuals, while the NYC Department of Education confirmed the impact on 45,000 students and staff.

Manchester Law Firm vs. Capita

A significant data breach at UK-based company Capita led to a class-action lawsuit and potentially impacted millions.

Among the 90 affected organisations were Royal Mail and Axa.

Legal proceedings by Barings Law involved 250 individuals suspected of compromised personal data.

Home addresses, emails, phone numbers, and pension details were accessed by hackers, raising concerns about fraud and unauthorised account access.

University of Manchester

In June, the University of Manchester encountered a cyber-incident, resulting in unauthorised access to its systems and potential data copying, as disclosed in a statement on June 9, 2023.

The university’s chief operating officer, Patrick Hackett, confirmed the breach, indicating that both internal and external experts were actively addressing the issue and assessing the extent of the data accessed.

Relevant authorities, including the Information Commissioner’s Office and the National Cyber Security Centre, were duly notified.

Q3 2023: NI Police, Electoral Commission, Discord

Northern Ireland Police

On August 8th, the Northern Ireland Police experienced a significant data breach, revealing sensitive information.

Over a three-hour period, names, ranks, grades, work locations, and departments of nearly 10,000 PSNI staff were inadvertently made public due to human error, deemed “monumental” given the heightened terror threat level.

The fallout had massive implications for the safety of thousands of officers.

PSNI Assistant Chief Constable Chris Todd confirmed measures were identified to prevent similar errors.

Information Commissioner John Edwards stressed the incident’s gravity, emphasising the substantial consequences of minor human errors.

The Electoral Commission

The Electoral Commission has acknowledged a security breach, originally occurring in 2021 but only disclosed ten months later.

Attributed to a hostile cyber attack, the breach remained undetected for a year, compromising data from 40 million votes, including names and addresses of registered voters spanning 2014 to 2022.

Discord.io Data

Discord.io, an online service offering custom links for Discord channels, experienced a data breach affecting around 760,000 users.

Sensitive information, including passwords, usernames, Discord IDs, and billing addresses, is believed to have been exposed.

The third-party service ceased operations following the breach’s discovery, which occurred when a Discord user offered the data for sale on a hacking forum.

Although compromised passwords were encrypted to industry standards, users with non-unique passwords are advised to update them across other platforms.

Q4 2023: Air Europa, 23andMe, Sony

Air Europa

In October, Mallorca-based airline Air Europa experienced a data breach, compromising the private payment information of its customers.

Discovered on October 10th, the breach revealed unauthorised access to customer payment data, including credit card numbers, expiration dates, and CCV codes.

Alarmingly, the breach occurred 41 days earlier, on August 28, remaining undetected until suspicious activity was identified.

The exact number of affected individuals is undisclosed, but the exposure of CCV codes violates PCI DSS regulations, raising significant concerns.

Air Europa advised customers who used credit cards for flight payments to cancel their cards as a precaution against potential fraudulent activities.

23andMe

In a past incident, biotech company 23andMe experienced a significant data breach, involving a credential-stuffing attack that accessed customer accounts.

This resulted in the theft of genetic data, potentially compromising names, email addresses, birthdates, and genetic ancestry information.

Upon detecting the breach, 23andMe engaged digital forensics experts and law enforcement, implementing measures such as mandatory password resets.

This incident heightened existing worries about data privacy in genetic testing companies, as health privacy laws don’t currently protect this data, and 23andMe’s privacy policy allows for third-party data sharing.

Sony

In October, Sony disclosed a data breach affecting nearly 6,800 employees, connected to a prior security breach linked to the MOVEit transformation system.

Hackers gained unauthorised access to US-based employee data on Sony’s servers.

Sony responded by providing credit monitoring services addressing the vulnerability to prevent future breaches.

What can we learn from the 2023 data breaches

From the cybersecurity breaches of 2023, there are several key lessons to guide companies in strengthening their defences for the upcoming year.

Cybersecurity culture

Creating an environment prioritising security awareness is essential throughout the organisation, whether in office or remote settings.

Regular assessments

Prioritise regular assessments to ensure that security protocols align with the current threats and keep defences up-to-date to stay ahead of emerging risks.

Third-party risk management

Emphasise third-party risk management to protect your company against vulnerabilities from external partners.

Compliance with standards

Maintain compliance with industry standards like PCI DSS. Adhering to established norms ensures a security baseline and can help reduce the consequences of a breach.

Proactive cybersecurity measures

Implement proactive cybersecurity measures and reporting protocols to anticipate and counter potential threats.

Employee training

Comprehensive training is important in every single organisation, irrespective of size, covering aspects from phishing attacks to social engineering tactics.

A well-informed workforce plays a key role in reducing cybersecurity risks and breaches.

How Bob’s Business can help your organisation in 2024 and beyond

We’re Bob’s Business, your go-to for engaging cybersecurity training. With over 15 years of experience, our training solutions are designed for all sectors and company sizes, making cybersecurity simple and effective.

Certified by top bodies like the NCSC and Crest, our courses are your shield against cyber threats. Let’s build your team’s defence together!

Get in touch today to strengthen your cybersecurity stance!

If 2023 has made one thing clear, it’s that staying on top of cyber industry trends and challenges is more important than ever.

The breaches of the past year tell us that predicting our cyber future is far from a walk in the park. Indeed, according to Forbes, by the close of 2024, the cost of cyber attacks on the global economy is projected to soar beyond an alarming $10.5 (£8.35) trillion.

So, let’s dive into what 2024 might have in store for us in the cybersecurity industry, as understanding what’s coming is key to strengthening your cybersecurity.

AI-led attacks will go to the next level

In 2023, Artificial Intelligence (AI) took giant strides in capabilities, becoming a vital tool across all industries and a hot topic on everyone’s lips.

It has proven to be a game-changer for many organisations. However, for all its merits, AI has introduced both novel vulnerabilities and enabled more innovative, faster attacks than ever before.

In 2024, cybercriminals are poised to take AI-led attacks to the next level. In particular, there will be a rise in deep fake social engineering and advanced malware attacks.

Businesses need to adjust and strengthen their security setups to protect their organisations from the more sophisticated AI attacks that might pop up in 2024, alongside adjusting their training to prepare their teams for the continued AI revolution.

Why not get ahead of the threat with our free guide to mitigating AI threats?

Stopping a phishing attack may not be as easy as spotting a spelling mistake

Phishing attacks are set to increase in 2024, and they will become more sophisticated and widespread than ever before.

Advanced tools like ChatGPT will make phishing attempts look, sound, and read like real messages, making them harder to spot. Typos, grammar hiccups, and cultural slip-ups are usually the first signs of phishing attacks, but these might become a lot trickier to detect.

According to the Google Cloud Cybersecurity Forecast 2024 report, attackers are using Large Language Models (LLMs) to translate and refine messages, making it even harder for users to rely on language cues to spot a phishing email.

In addition, gen AI is being used to pull off these tricks on a larger scale, allowing attackers to create convincing personalised emails that appear to be based on your name, job, or even health data.

Indeed, a new report from the BBC has found that it is astonishingly easy and affordable to build a bot within ChatGPT to create realistic and effective phishing attacks.

This new and advanced level of phishing requires businesses and individuals to be prepared to tackle these attacks.

USB C on iPhone will see an increase in novel attacks

In 2024, USB-C is finally taking the throne as the true universal connector, simplifying our tech lives and aiming to cut down on electronic waste.

This move, initiated by the EU, is poised to reduce e-waste and simplify connectivity, but it also opens the door to widespread juice-jacking threats.

Juice jacking happens when you plug your device into a public charging point and end up sharing more than just power.

2023 saw dire warnings around juice jacking events, and 2024 is set to be a boom year for the attack type.

Cyber insurance will be more important than ever

In 2024, we’re in for significant shifts in cyber insurance contracts.

Companies seeking coverage will be required to provide evidence of robust cybersecurity processes. With the increasing number of cyber attacks, insurance companies are becoming more selective in their acceptance criteria, which may result in higher premiums.

The cyber insurance market will experience substantial growth in 2024.

Companies are realising that robust defences alone may not be enough, and are increasingly recognising cyber insurance as a practical shield in case of a cyber attack.

How can you prepare your organisation’s cybersecurity for 2024?

• Invest in cybersecurity training: Prioritise ongoing training programs for employees to enhance their awareness of phishing attempts and social engineering tactics.
• Implement robust authentication measures: Enforce multi-factor authentication across all access points to boost security against unauthorised access.
• Update and patch systems regularly: Establish a systematic schedule for updating and patching software and systems to address vulnerabilities promptly.
• Adopt AI-driven security solutions: Explore the integration of AI-driven security tools for real-time anomaly detection and automated incident response.
• Prepare for USB-C security risks: Educate employees about the potential risks associated with USB-C connections and implement policies to mitigate threats like juice jacking.
• Ensure compliance with regulatory changes: Stay informed about any new regulations impacting cybersecurity, especially regarding insurance requirements.

How Bob’s Business can help your organisation safely navigate 2024

At Bob’s Business, we understand the unique challenges that the predictions of 2024 pose.

Our tailored solutions go beyond just protection; they empower your workforce to become a proactive line of defence.

Through engaging and effective training programs, we equip your teams with the knowledge to recognise and defend against threats.

Our commitment to staying at the forefront of cybersecurity trends means we can provide timely insights and recommendations, ensuring your business is prepared for the challenges of 2024.

Contact us today to discuss a plan for 2024 that best suits your business.

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Artificial intelligence presents tremendous opportunities to streamline operations, gain insights and enhance customer experiences. However, without proper precautions, AI risks reinforcing biases, compromising data privacy, and enabling new cybersecurity threats.

Our new AI guide for businesses offers indispensable guidance to integrate AI securely and ethically, including:

• Demystifying key AI concepts in plain English
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Whether you’re an AI novice or a seasoned expert, this guide shares practical advice to harness AI’s upsides whilst avoiding pitfalls. Equip your team to adopt AI as a force for good.

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With ransomware attacks surging globally, awareness of cyber threats is at an all-time high. Now, insurance provider Allianz has released its annual Cyber Security Trends report, providing crucial insights businesses need to know.

The report highlights developments across the cyber landscape from early 2022 through mid-2023, touching on the ongoing evolution of threats like ransomware, the role of human error in enabling breaches, the need for rapid detection and response capabilities, and more.

In this blog, we’ll summarise some of the top takeaways from the 31-page report. Key focus areas include the prevalence of supply chain attacks, the cybersecurity skills gap, the risks posed by mobile devices, and the importance of boosting employee security awareness.

Let’s get started.

The key takeaways from Alianz’s ‘Cyber Security Trends’ report.

Ransomware still dominates the threat landscape

Ransomware attacks surged 143% globally in early 2023, the report reveals.

These attacks are often successful because staff click on phishing links or fail to patch known software vulnerabilities.

Ongoing security awareness training is essential to avoid falling victim. Supply chain attacks, where hackers infiltrate vendor systems to steal customer data, are also increasing. Rigorous vendor risk assessments are crucial for managing your organisation’s level of risk.

Mobile devices are a growing target

Organisations are seeing more attacks aimed at mobile devices, according to Allianz. These endpoints often lack security controls, while employees commonly mix personal and corporate data on them. Implementing mobile device management policies helps secure these risky assets, and awareness should be raised among your team.

The cyber skills shortage increases exposure

With limited cybersecurity professionals available, many companies cannot adequately staff security teams.

Allianz advises focusing on employee training programs to fill the skills gap. Partnering with managed security providers can also help strengthen defences.

Human error contributes to breaches

Simple mistakes like misconfigured systems, inadequate system monitoring, and poor data management practices frequently contribute to breaches.

To reduce errors, organisations need proper cybersecurity awareness training, IT governance frameworks, internal auditing, and data retention policies.

Rapid detection and response is critical

Once attackers infiltrate systems, incidents often escalate rapidly into costly breaches. Allianz stresses early detection capabilities, like SIEMs and SOCs, are vital to spot intrusions quickly before major damage occurs.

Having an incident response plan, retaining specialist vendors, and conducting exercises also improves reaction time.

The top 10 findings from Alianz’s ‘Cyber Security Trends’ report.

• Ransomware remains the top cyber threat, with attacks surging 143% globally in early 2023.
• Supply chain attacks are increasing as hackers infiltrate vendor systems to access customer data.
• Mobile devices are a growing target due to weak security controls and the mixing of personal and corporate data.
• The cybersecurity skills shortage makes organisations more vulnerable to attacks.
• Human errors like misconfigurations and poor data practices enable many breaches.
• Early detection of attacks is critical to prevent escalation into major incidents.
• Having an incident response plan and retaining specialist vendors improves reaction time.
• Business email compromise scams are becoming more sophisticated using AI-generated content.
• The Internet of Things and 5G networks will expand the threat landscape as more devices connect.
• Data exfiltration attacks are surging, with stolen data leveraged to demand larger ransoms.

In short, while deploying robust technical controls remains important, continuously improving employee cybersecurity awareness and implementing governance procedures to avoid errors is fundamental.

Addressing the human element is key to reducing cyber risk. At Bob’s Business, that’s what we do.

Our NCSC-approved cybersecurity awareness training courses give your team the knowledge they need to protect your business, while our simulated phishing training gives your team hands-on experience in receiving and spotting phishing attacks.

Ready to learn more? Discover our range of solutions or chat with a member of our team.