A New Era of Cyber Risks: Navigating Digital Battlegrounds

Cyber threats are not a new phenomenon in our interconnected world, but their scale and impact have grown significantly with advancements in technology and its increasing accessibility to a wider range of actors. As humans, we have become deeply reliant on technological devices for our daily lives. Beyond personal devices like smartphones and computers, consider the automation of transportation, where digital systems control operations and signal failures can cause delays and overcrowding. Think of hospital monitors that are entirely digital and track patients’ health, or security infrastructure such as surveillance cameras.

Our reliance on these systems to function seamlessly underscores their importance, yet these critical infrastructures are becoming increasingly vulnerable to cyberattacks. Such attacks do not only result in reputational damage and financial loss but can also have profound consequences on human lives, particularly in sectors like healthcare. The risk of disruption extends far beyond inconvenience, highlighting the urgent need to protect the digital frameworks that underpin our modern lives.

More on navigating risks can be found on our article on ISO 28000 and its use for businesses.

Cyber Threats Glossary

Type of activity–	Description–
Cyber Crime	Cybercrime refers to a wide range of illegal activities conducted using computers, networks, or digital devices. These include hacking, phishing, identity theft, ransomware, and malware attacks. As a global issue, cybercrime exploits security weaknesses across personal, corporate, and governmental systems. It poses significant risks, resulting in financial losses, damage to reputations, and the compromise of sensitive data for individuals, businesses, and governments alike.
Cyber Espionage	Cyber espionage is a type of cyberattack where unauthorized individuals or groups attempt to gain access to sensitive or classified information, often for financial gain, competitive advantage, or political purposes. These attacks are commonly aimed at acquiring trade secrets, confidential data, or intellectual property to gain an edge or profit. In some cases, the goal may also be to damage reputations by exposing private information or unethical practices. Cyber espionage can be linked to military operations, cyber terrorism, or acts of warfare, with impacts that extend to disrupting public services, critical infrastructure, or, in extreme cases, causing loss of life.
Cyber Terrorism	Cyber terrorism, also called digital terrorism, refers to disruptive attacks by terrorist organizations targeting computer systems with the goal of causing fear, panic, or physical disruption. These groups may hack government or private servers to steal sensitive information, divert funds, or coordinate attacks. The internet is also used to finance operations, train members, and organize terrorist activities. While there is no universally agreed-upon definition of cyber terrorism, its potential to compromise critical systems and spread fear underscores its significance as a growing threat.
Hacktivism	Hacktivism refers to the act of hacking or breaching a computer system for political or social causes. Individuals who engage in hacktivism, known as hacktivists, use activities such as defacing websites or leaking sensitive information from organizations to convey a message and draw attention to their cause. Their actions are often intended to promote visibility and spark discussions around the issues they are advocating for.
State Sponsored Cyber Attacks	State-sponsored cyberattacks are orchestrated or backed by nation-states to achieve strategic objectives, such as disrupting critical infrastructure, stealing sensitive information, or gaining geopolitical advantage. These attacks are particularly dangerous because they are often highly resourced, meticulously planned, and capable of causing widespread damage. For instance: the recent compromise of the U.S. treasury department by Chinese actors.

Cyber Threats to Critical Sectors

Cyber threats are increasingly targeting critical infrastructure sectors such as energy, healthcare, and finance. These sectors are vital for national security and economic stability, making them high-value targets for cybercriminals, state-sponsored actors, and hacktivists. The consequences of such attacks can be severe, including operational disruptions, financial losses, and risks to public safety.

Energy Sector

The energy sector has become a primary target for both financially motivated ransomware groups and state-sponsored actors, particularly from Russia. Attacks on IT systems in energy firms disrupt operations and pose risks to energy supply chains. Renewables firms, which rely heavily on Internet of Things (Iot)-enabled devices, face growing vulnerabilities due to weak cybersecurity defenses in consumer-facing infrastructure. Russia, in particular, has been linked to numerous cyber operations against Europe’s energy infrastructure, aiming to destabilize public trust and disrupt services.

Healthcare Sector

The healthcare industry is highly vulnerable to ransomware and data breaches. These attacks jeopardize sensitive patient information and disrupt critical healthcare services, as demonstrated by incidents like the NHS Synnovis Ransomware attack in 2024.

Finance Sector

Financial institutions are often targeted for monetary theft, data breaches, and disruption of critical payment systems. Cybercriminals exploit system vulnerabilities to steal funds, exfiltrate customer data, or disrupt financial operations.

Telecommunications

Telecom companies are prime targets for cyberattacks because they manage critical infrastructure used for communication and the storage of vast amounts of sensitive data. Government agencies are increasingly targeting telecom operators’ infrastructure and applications to conduct covert surveillance. These sophisticated attacks often involve advanced persistent threats (APT) capable of operating undetected for extended periods. Communication channels such as phone lines, online chat platforms, and mobile data are frequently targeted. In some cases, cyberattacks have even disrupted communication among a nation’s leaders, highlighting the strategic significance of telecom networks in the cyber domain.

Chinese hackers, known as Salt Typhoon, infiltrated at least eight U.S. telecommunications providers and telecom networks in over 20 other countries in a large-scale espionage and intelligence-gathering operation. Researchers believe this campaign began up to two years ago and continues to compromise telecom networks. The attackers accessed sensitive customer call data, law enforcement surveillance requests, and private communications of individuals involved in government or political activities, highlighting the serious implications of such breaches.

Mitigating Cyber Risks

The first step in addressing cybersecurity risks is to acknowledge that they can impact you and your business. Educate yourself on the nature of these attacks and understand the vulnerabilities within your software supply chains. Open communication with employees is essential to establish a shared understanding of potential threats and collaborative solutions. Most importantly, never assume you are beyond the reach of such attacks. Focus on the key pillars of cybersecurity: identify risks, protect systems, detect threats, respond effectively, and recover swiftly.

In our podcast episode with Kailyn Johnson, Dominic Bowen dives deeper into this topic, discussing current cyber threats, potential solutions, and the future outlook. Tune in and listen here! The journey begins with informing ourselves.