Cyber threats are attacks that seek to disrupt business operations, steal sensitive data and harm electronic assets. These attacks can have devastating consequences for companies and their clients, employees and suppliers.

The most prevalent type of cybersecurity threat is malware—a malicious software program that can be used for various purposes including theft, exploitation, destruction and sabotage. There are many types of malware, ranging from phishing emails to Trojans, spyware and bots. Malware attacks are often launched through insecure network protocols, server infrastructure and software update mechanisms. These attacks can go undetected for long periods of time and run with the same trust and privileges as legitimate applications, making it difficult to detect.

Ransomware continues to dominate the cyber attack landscape, driving over 72% of all attacks in 2023. This attack method involves attackers encrypting victims’ systems and making their data inaccessible until the victim pays a ransom. This is especially dangerous to healthcare, where disruptions could impact patients’ care and even put lives at risk.

A second threat is cyber fraud—the unauthorized use of a device, information or network to commit a crime. This can include theft of personal or financial information, hacking and identity theft. It can also extend to the theft of intellectual property and other proprietary data. This is one of the fastest growing areas of cybercrime and is a major concern for businesses around the world. Attackers are becoming more sophisticated and targeted, targeting large corporations, government agencies, hospitals and other high-value targets.