Current trends indicate that threat actors will continue to pursue fraudulent instruction as a profitable tactic in 2023. This trend continues to be quite high compared to where we would expect it to be, especially when it comes to small business.
Risk management behavior will be key to stemming the tide of fraudulent instruction. It can't simply be the job of a cyber services team or an IT team to deal with the potential for breach. Everyone must be involved.
As we enter 2023 in a challenging economic climate, current conditions also have the potential to drive more incidents. With new cyberattack SaaS platforms easily accessible, the entry price into cyber criminality becomes cheaper. This ease, coupled with mass unemployment and inflation rates, may drive more people to the dark side for alternative income streams.
Organisations of all sizes need to take a proactive approach to reducing these risks, including establishing processes to verify payment requests, continuously training employees, improving logging practices, and investing in identity and access management.
Larger economic challenges may cause some organisations to make choices that could result in smaller or less skilled teams. The resource constraints affecting these organisations could lead to mistakes which may predicate a variety of events, from email-related attacks to ransomware or data exfiltration-driven cyber extortion incidents.Desiree SpainHead of US Underwriting Management - Underwriting Management
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