What is modern hacking in 2023 and 2024? Threats and tactics
The digital landscape is ever evolving, and so are cyber criminals. With cyber threats becoming increasingly sophisticated, having strong cyber security is vital. A key part of cyber security is keeping informed on the latest trends, so we’ve delved into tactics cybercriminals are using…
Modern ransomware: A growing issue
Modern hacking is characterised by advanced ransomware attacks, which have become more damaging that ever before. Hackers have developed sophisticated methods to infiltrate systems, encrypt valuable data, and demand high-cost ransoms for its release. Unlike traditional ransomware, which often targeted individual users, recent attacks have strategically focused on high-profile targets, including businesses and critical infrastructure. Cybercriminals now operate almost as a business, with employees dedicated to hacking businesses and implementing ransomware.
These attacks can be devastating and can also pose a significant financial risk, the use of cryptocurrencies for ransom payments has added another layer of complexity, providing hackers with a more anonymous and challenging-to-trace method of collecting their payment.
Hackers going mobile: A personalised approach
In a bold shift from conventional hacking methods, cybercriminals are now leveraging personal connections by directly calling business owners on their mobile phones. This tactic aims to exploit the human element of cyber security, preying on the trust and vulnerability of individuals. Hackers may pose as trusted entities, such as IT support or even colleagues, using social engineering techniques to gain sensitive information.
Cybercriminals are also calling business owner’s mobile phones as part of a ransomware attack strategy to invoke fear and prompt payment.
The evolution in tactics demands a higher sense of awareness among businesses, where business owners and employees should exercise caution when receiving unsolicited calls or messages, verify the identity of the caller, and be wary of sharing sensitive information over the phone.
Data theft: an ongoing battle
Data theft remains a key part of modern hacking techniques. Cybercriminals target databases containing personal information and financial records with many motivations such as financial gain using the financial records, or to use as a compelling reason for businesses to pay the ransom, for example to prevent the cybercriminal from contacting all their customers.
As businesses become more technology focused and amass large amounts of data, the value of that data increases. Data including personal and financial information are key targets for cybercriminals. Therefore, safeguarding your data has become a critical objective for businesses.
The value of data
What value do you put on your data? Recognising the value of data helps businesses to budget for implementing robust cyber security measures. Investing in regular, reliable backups, and employee security awareness training are crucial steps in mitigating the risks associated with data breaches.
What to do in the event of a cyber attack?
In the face of the escalating complexity around cyber attacks, businesses should adopt a proactive approach to cyber security.
We strongly recommend businesses create a breach plan to help you prepare in the event of a hacking scenario. A breach plan is your business’s blueprint for responding to a cyber attack, so, in the event of an attack, instead of figuring out what to do amid the chaos, your well-thought-out breach plan is there to provide you with a structured and organised approach to handling the situation.
Your IT Support company plays a crucial role in responding to any suspected cyber attack, they are experts who will have the knowledge and access to take the necessary steps to mitigate the affects of the situation. You should notify them immediately, they will be able to advise you on what to do, whilst their expert team are taking necessary steps to resecure your business.
Time is crucial, the quicker you can isolate any affected systems, identify compromised accounts, and prevent the spread of the attack, the lesser the impact.
Modern hacking in 2023 and 2024 encompasses a complex landscape of threats, innovative tactics, and escalating risks, to navigate this landscape effectively, businesses must recognise the value of their data, and adopt a resilient and proactive approach to mitigating cyber risk by prioritising cyber security. By staying informed and implementing robust cyber security measures, you can build a more secure digital future.
Looking to strengthen your cyber security? Get in touch!