Threat actors are embracing artificial intelligence (AI) to enhance their attack strategies in 2023. The same technology can be used to mitigate threats. The most recent Canadian Cyber Threat Intelligence Annual Report from PwC Management Services LP examines this, along with key trends, most targeted industries and provides recommendations for executive teams grappling with the changing cyber threat landscape.
Among the key trends discussed, the report states that AI will reshape the threat landscape and ransomware will become more sophisticated, while data breaches, third party breaches in particular, will continue as a going concern. Notably they add that the cyber threat landscape is only expected to become more interconnected and complex with “off-the-shelf” attack tools readily available. The proliferation of phishing-as-a-service tools, for example, make it easy for even less sophisticated threat actors to launch highly effective attacks, they write.
They add that 11 per cent of Canadian CEOs say their companies are highly or extremely exposed; the number increases to 18 per cent when the time frame is extended to include the next five years. Two-thirds say cybercrime is the most significant threat facing their organizations in the coming year.
The report also looks at trending malware (AvosLocker ransomware and persistent threat group, Evilnum are both discussed as threats affecting the insurance industry) and provides a timeline of major events which occurred targeting Canadian organizations in 2022.
