The Biggest Cyber Threats Shaping 2026

Cyber risk is no longer defined by isolated technical incidents. According to the World Economic Forum’s Global Cybersecurity Outlook 2026, today’s threats are more interconnected, financially motivated, and influenced by geopolitical and technological shifts than ever before.

The insight report signals a clear change in how executives and security leaders view cyber risk and what organizations must prioritize next.

A Shift in Executive Concern: Fraud Overtakes Ransomware

One of the most notable findings is the shift in executive priorities. Cyber-enabled fraud has surpassed ransomware as the top cybersecurity concern for CEOs.

• 73% of CEOs reported being directly impacted by cyber-enabled fraud in 2025.
• 77% said fraud activity increased over the past year.
• Ransomware no longer ranks among the top three risks for CEOs, even though it remains a major concern for CISOs.

Real-world example: Business email compromise (BEC), payment diversion scams, and credential theft are increasingly resulting in direct financial losses, often without triggering traditional security alerts, making fraud both harder to detect and faster to monetize.

AI Expands the Attack Surface for Defenders and Adversaries

AI presents both opportunities and risks. As organizations are rapidly adopting AI tools, the report highlights AI-related vulnerabilities as one of the fastest-growing cyber risks.

Key concerns include:

• Unintended data exposure through generative AI tools
• A widening governance gap as rapid AI integration outpaces existing security controls
• AI is being leveraged by attackers to scale phishing, fraud, and social engineering.

Real-world example: Attackers are using AI-generated content to create highly convincing phishing messages and deepfake voice scams that bypass human suspicion and security training.

Cybercrime Becomes More Geopolitical

The report underscores a growing overlap between cybercrime and geopolitics, with state-linked actors and criminal groups increasingly aligned.

• Nation-state activity is expanding beyond espionage into financial crime and disruption.
• Sanctioned states are using cyber operations and digital currencies to bypass restrictions.
• Critical infrastructure, financial systems, and even elections remain high-value targets.

Real-world example: State-aligned threat groups have been linked to ransomware operations, cryptocurrency laundering, and large-scale credential theft campaigns targeting governments and global enterprises.

Supply Chain and Third-Party Risk Remain Systemic

Despite years of high-profile breaches, third-party and supply chain risk continues to be one of the most persistent challenges.

• Organizations are increasingly dependent on a complex web of vendors, cloud services, and AI platforms.
• A single compromised supplier can expose hundreds or thousands of downstream organizations.
• Visibility into vendor security posture remains limited.

Real-world example: Web skimming, compromised software updates, and abused cloud infrastructure continue to enable attacks that bypass perimeter defenses by exploiting trusted technologies.

Best Practices: How Organizations Should Respond

Based on the report’s findings, organizations must adapt to fraud-driven, identity-centric, and AI-enabled risks with a more holistic approach. They should:

1. Make Identity the Foundation of Security
   With credential theft at the center of fraud, phishing, and account takeover, identity must be treated as a critical control, not just an IT function.
    
   How to implement:

• Deploy phishing-resistant MFA (FIDO2, passkeys) for privileged users, finance teams, and executives.
• Monitor impossible travel, unusual login times, and device changes rather than relying solely on failed login alerts.
• Apply least privilege to human and non-human identities, including service accounts and APIs.
• Run identity attack simulations to test how easily credentials can be compromised and misused.
   
  Example: A finance employee logs in successfully from a new mobile device and initiates a wire transfer. Behavioral analytics flag the anomaly even though MFA was used, preventing fraud before funds are released. Strong identity protection significantly limits the impact of fraud, phishing, and third-party compromise.

2. Build Fraud Detection into Business Processes
   Cyber-enabled fraud often exploits legitimate workflows, allowing attackers to remain invisible to traditional security defenses.
    
   How to implement:

• Add out-of-band verification for payment changes, vendor updates, and payroll modifications.
• Correlate identity events with financial actions, such as login activity tied to invoice approvals.
• Train non-technical teams (finance, HR, executive assistants) to recognize social engineering and urgency tactics.
• Establish a fraud escalation playbook with clear roles and response timelines.
   
  Example: A vendor requests updated banking details via email. The change triggers a mandatory phone verification and an identity check, stopping a payment diversion scam. The goal is to stop fraud before money or data leaves the organization.

3. Apply Security Governance to AI Adoption
   AI tools are being adopted faster than security programs can mature, increasing the risk of data exposure and misuse.
    
   How to implement:

• Require a security and data review before approving AI tools or plugins.
• Restrict AI access to non-sensitive data unless explicitly approved.
• Log and monitor AI prompts, outputs, and integrations for unusual activity.
• Assign AI ownership across security, legal, and compliance teams, not just IT.
   
  Example: An employee attempts to upload internal documents into a generative AI tool. Data loss prevention controls block the upload and alert security, preventing unintended exposure. Organizations that fail to govern AI use may unintentionally expose sensitive data or create new attack paths.

4. Continuously Validate Third-Party and Supply Chain Risk
   Attackers increasingly exploit trusted vendors, scripts, and cloud services to bypass defenses.
    
   How to implement:

• Replace annual vendor questionnaires with continuous monitoring of high-risk suppliers.
• Validate third-party scripts and integrations used in websites, payment systems, and applications.
• Limit vendor access using time-bound credentials and role-based permissions.
• Require evidence of security testing from vendors, not just attestations.
   
  Example: A compromised third-party JavaScript library is detected, injecting malicious code into a checkout page. Continuous monitoring flags the change before customer data is stolen. Trust should be verified continuously, not assumed.

5. Align Cybersecurity with Financial and Executive Risk
   The report highlights a disconnect between CEO and CISO priorities, especially around fraud and ransomware.
    
   How to implement:

• Translate cyber risks into financial impact, such as potential fraud loss or downtime costs.
• Report metrics executives care about: fraud prevented, time to detect, and business disruption avoided.
• Run executive tabletop exercises focused on fraud, AI misuse, and third-party breaches.
• Ensure cybersecurity investments map directly to business objectives.
   
  Example: During a tabletop exercise, leadership realizes a single compromised executive account could authorize millions in fraudulent payments, prompting stronger executive identity protections. When leadership alignment improves, organizations respond faster and more effectively to emerging threats.

6. Continuously Test and Validate Security Controls
   Static defenses can’t keep pace with modern attackers who adapt quickly.
    
   How to implement:

• Conduct regular penetration testing that includes identity, cloud, and third-party scenarios.
• Simulate real-world fraud and phishing attacks, not just technical exploits.
• Measure detection and response effectiveness, not just prevention.
• Treat testing results as input for continuous improvement, not compliance checkboxes.
   
  Example: A simulated phishing attack successfully compromises credentials but fails to trigger an alert. The gap leads to improved detection rules and response workflows. Continuous validation helps organizations stay resilient in an evolving threat landscape.

Final Thoughts: Cyber Risk Is Now a Business Risk

Organizations that continue to focus narrowly on legacy threats like ransomware alone may miss the broader picture.

The organizations best positioned for 2026 and beyond will be those that operationalize trust, validating identities, transactions, AI tools, and third parties continuously. By embedding security into business processes and validating controls regularly, organizations can reduce risk even as threats grow more sophisticated and interconnected.

Those who invest in identity security, fraud prevention, third-party validation, and executive-level risk alignment will be better positioned to navigate the increasingly complex cyber landscape ahead.

CampusGuard offers comprehensive security solutions, including penetration testing, security awareness training, and ScriptSafe, which delivers ongoing monitoring and protection for websites. Our services are designed to support the security needs of your organization. Request a demo today or contact us to get started.