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16.01.25
As the new year begins, the cyber-security landscape continues to pose challenges for organisations across sectors. According to trust management platform Vanta, cyber-security threats are the number one concern for more than half of organisations. These concerns are not unfounded; half of UK businesses and almost a third of charities reported experiencing cyber-security breaches or attacks in the government’s 2024 Cyber Security Breaches Survey. Organisations may best manage their digital exposures by staying abreast of the latest cyber-threats and trends. The following are projected cyber trends for 2025:
Cyber-criminals may leverage artificial intelligence (AI) and automation to create sophisticated ransomware attacks this year. These enhanced techniques may help threat actors spread ransomware across networks, making early detection critical. Additionally, ransomware attacks may target supply chains to cause maximum destruction. Staying ahead of evolving tactics will be crucial in 2025.
Threat actors may use AI to create phishing emails with flawless grammar and highly adaptive malware that can evade systems in 2025. However, organisations will increasingly utilise AI to manage threat intelligence data, helping them respond to incidents more efficiently.
Although in its early stages, quantum computing may develop in 2025, with the potential to challenge traditional encryption standards. This poses threats to data security, especially for sectors that rely on encryption to protect sensitive data, such as health care and finance.
A report by consulting firm RSM UK found that 78% of cyber-attacks reported by businesses in a 12-month period stemmed from a supplier or third-party breach. Yet, just 11% of businesses have reviewed the cyber-security risks posed by their immediate supply chains, according to the government’s 2024 Cyber Security Breaches Survey. With these startling statistics in mind, it may be prudent for employers to take steps to reduce their organisations’ supply chain exposures in 2025 and beyond. Consider the following three tips:
Cloud computing refers to a pay-per-use service that equips users with on-demand access to a range of IT resources (e.g. databases, software, servers, networking and analytics tools, and artificial intelligence applications) via the internet. By leveraging cloud-based platforms, organisations can minimise the need to purchase and maintain physical data centres and servers, ultimately streamlining their digital infrastructures and allowing for greater IT flexibility.
Cloud-related threats were the number one cyber-security concern among businesses in the PricewaterhouseCoopers International Limited’s 2024 Global Digital Trust Insights Survey.
Although cloud computing can provide several benefits, it also carries unique cyber-exposures. Without proper safeguards in place, organisations could be susceptible to cloud-based cyber-attacks and associated losses. To maintain a strong security posture and help prevent large-scale losses, employers should consider these five cloud security management best practices:
In addition, securing robust cyber-insurance can ensure financial protection against losses arising from cloud-based cyber-attacks.
Contact us today for further risk management resources and robust insurance solutions.
Information provided by Zywave with contribution by Lisa Langley, Cert CII, Team Leader, Professional Risks, Cox Mahon Ltd.