Perception Point’s latest report, “H1 2023 Report: Cybersecurity Trends & Insights,” investigates the attacks that plagued the first half of the year. The report highlights the growing issue of GenAI-fueled BEC attacks, the rise in attacks targeting collaboration channels, and considers attacks by industry demographics. Read on to learn more. 

What aBOT GenAI BEC attacks?

During the first half of 2023, there was a notable 20% growth in BEC attacks per user. This rise can be attributed, in part, to the swift adoption of AI-based tools by cyber attackers in their BEC campaigns.

The ease with which malicious actors can now orchestrate attacks using readily available generative AI tools demands proactive measures. GenAI tools aid attackers in crafting convincing content, used to impersonate known entities and vendors for more successful BEC attacks. 

In response to this escalating threat, Perception Point has taken significant strides in the fight against generative AI-powered attacks. Perception Point empowers organizations to combat AI-generated attacks with their innovative Large Language Model (LLM) detection engine, strategically designed to identify and thwart social engineering attempts.

By embracing the potential of LLM technology, businesses can confidently outmaneuver cybercriminals, safeguarding their invaluable data and preserving their reputation in our increasingly digitized world.

For more information, read: An AI for an AI: LLM-based Detection of GPT-Generated BEC Attacks

Cloud collaboration channels, beware! 

In H1 2023, attacks targeting cloud collaboration channels (Microsoft 365 apps, Salesforce, Slack, AWS S3 Buckets, etc.) surged by a staggering 75% since the end of H2 2022. Malware constituted 42% of all channel-based attacks, followed by advanced attacks at 36%, and phishing at 22%. These statistics highlight the growing sophistication of cyber threats targeting these crucial channels.

As organizations heavily rely on collaboration tools to streamline operations and enhance productivity, it becomes imperative to prioritize channel protection. The severity of risks involved calls for robust defenses, including advanced threat detection systems, to effectively mitigate these evolving threats and safeguard sensitive information. By staying proactive and implementing stringent security measures, businesses can maintain operational integrity and protect their most valuable assets.

INDUSTRY

Investigating attack trends across industries allows defenders to gain valuable insights into the unique challenges and vulnerabilities associated with specific segments, empowering them to create effective cybersecurity strategies. 

In H1 2023, Perception Point reports that the Oil & Gas sector faced an overwhelming amount of phishing attacks, underscoring the sector’s susceptibility to deceptive tactics. Meanwhile, the Technology sector stood out with higher percentages of advanced attacks (2%) and Business Email Compromise (BEC) attacks (7%), signifying the sophistication of threats tailored to technology companies. Additionally, malware attacks were most prevalent in the Industrial sector (24%), followed closely by the Consumer Services sector (22%). 

As we navigate the digital realm, understanding these attack trends and staying vigilant against cyber adversaries are paramount. No organization can afford to be complacent when it comes to cybersecurity. By leveraging insights from breaking down attack trends, cyber defenders can proactively build robust defense strategies, fostering a safer digital landscape for organizations of all sizes and sectors.

Now What? 

As we enter the second half of 2023, there are several considerations to be aware of, based on the trends observed in H1 2023. These include:

1. Expect a continued rise in generative AI-based cyber attacks, as attackers leverage sophisticated AI models to craft more convincing BEC and phishing emails, complex malware, and advanced attacks with higher success rates. 
2. Defenses must adapt with innovative approaches, including AI detection models, to counter these AI-generated threats. 
3. Collaboration channels will remain vulnerable, with a surge in BEC attacks targeting sensitive data and critical systems. 
4. Organizations must prioritize a holistic approach to cybersecurity, focusing on advanced threat detection and proactive security measures to bolster their resilience against unseen cyber threats in H2 2023.

Download the full “H1 2023 Report: Cybersecurity Trends & Insights” today!