Predicting the Unpredictable: Mapping Out Possible Cyber Threat Trends for 2024

October 11, 2023

Cyber security has been important ever since we’ve had computers in our lives. But as our lives become more and more intertwined with cyberspace, online security is becoming the center of attention. And not just for companies but for everyone. With the growing number and sophistication of cyber threats, hackers can steal our identities in a matter of seconds and use it for malicious purposes. In other words, we can become the target of serious moral and financial damage, either as individuals or as businesses.

Cyber threats have always been around. Still, If we look into the future, searching for preventative measures to take, we quickly find out that it’s a challenging battle. The cyber landscape changes every moment. Similarly, cyber security threats evolve and change strategy. Therefore, we need equally efficient and up-to-date tools to defend against them. Looking at cyber threat trends for 2024, there’s expected to be a rise in the use of AI tools and emerging technologies for developing misinformation attacks, scams, and similar cyberattacks.

Keeping ourselves informed and protected against the latest cyber threats can seem almost impossible. Still, it remains one of our top priorities. Knowing what kind of cyber threats are likely to appear can help us prepare and learn how to protect ourselves from them as much as we can.

In this blog, we’re going to take a shot at mapping out the possible cyber threat trends for 2024 and see what we can do to stay protected. Let’s plunge in.

The element of real in deepfake: cyber threats

AI is changing the world of cyber security, and it does so in the most unexpected ways. As with any tool, artificial intelligence can enrich civilization and the quality of our lives – if used ethically. But, as a tendency, some individuals and organizations will use tools in a primitive way to undermine others and get easy access to money or resources. Fraudsters leverage these emerging technologies to create realistic and credible content.

How do deepfake cyber threats work?

Deepfake cyber threats work by manipulating images, sound, or video with the help of artificial intelligence in order to mislead. Many companies and individuals fall victim to deepfake voice and video fraud because these techniques are relatively new and there isn’t enough awareness around them as of yet. Nonetheless, using deepfake can be a tool for mass manipulation of opinions and gaining access to sensitive data. Leveraging IoT, cybercriminals can use AI for malicious purposes, usually involving identity theft. As the Department of Homeland Security (DHS) alerted at the beginning of September, AI occupies an important place on the list of emerging cyber threats for 2024.

So, how do we prepare to ward these attacks off? Being informed and understanding the threat is our first and maybe most powerful defense strategy. Companies and data centers need to take the necessary steps to secure their information to ensure the company’s cyber security. Moreover, when this is the case, businesses have to ensure the security of their users as well.

Collaboration tools – a new gateway for cyber security threats

While the COVID-19 pandemic was booming, everyone turned to the use of communication tools for work and connection. Thus, the use of these tools became very widespread – opening a door for cybercriminals. These tools can become significant cyber threats. There have been many cases of phishing attacks reported, which have been linked to messaging and social media, email, and Zoom. With the prevalence of artificial intelligence tools, hackers can use a very simple tactic of impersonation to get into the possession of sensitive data, like credentials.

Ransomware Issues

An ongoing threat since its beginnings in the form of the AIDS Trojan in 1989, ransomware keeps leading its blooming career to this day. Continuing to stay in the spotlight, ransomware is on the list of top cyber threat trends for 2024. As cloud-based transactions continue to gain popularity, cybercriminals will keep their focus on the cloud, putting at risk the cyber security of companies and large amounts of sensitive data with every attack.

In the face of ransomware, we still stand helpless

In a nutshell, a ransomware attack is a cyber security hazard where the attacker immobilizes the victim by gaining access to the victim’s data and blocking access to it until a ransom is paid. A more basic ransomware attack might only restrict access by locking systems and leaving the files untouched. However, more sophisticated malware can operate by using the technique of cryptoviral extortion. This method works by encrypting the victim’s files and rendering them inaccessible until the victim pays the ransom. This technique has seen an increase in popularity among hackers in recent years and continues to be among the top cyber threat trends for 2024.

How do you defend against ransomware cyber security threats?

Building on the foundation of a reliable data backup solution is advised to prevent being blackmailed by hackers and putting sensitive data at risk. Ensuring data is protected by encryption can make all the difference in case of an attack. Cloud-based attacks will continue to stay, so cyber threats and online security measures need to be taken more seriously. Also, staying aware and keeping eyes open for more simple access points like emails continues to be critical for safety. Email phishing is still a preferred method and cause of data breaches. Staying informed and aware at all times and taking the necessary technical measures for protection are increasingly critical today and will continue to be in the future.

Supply chains – blind spots in cyber security that need extra attention

After the SolarWinds hack became famous as the most significant data breach of all time in 2020, the world had to realize how important it is to secure potential weak points in the software supply chain. The SolarWinds breach affected over 30,000 organizations, including the U.S. Government, making history as one of the biggest cyber security attacks ever. As for cyber threat trends in 2024, the supply chain is expected to continue to be a target of cybercrime. Because of the potential success of getting extensive access through a supply chain attack, hackers will keep looking for holes in security. Predictions for the future are also concerned with smaller vendors who will likely suffer loss because of postponing investing in the services and technologies that could mitigate their risks.

New regulations are comingto increase the protection of the supply chain network. Government collaborations with the private sector and foreign countries to identify malicious organizations and groups will continue. Until then, companies can turn to more secure managed service providers and take more serious measures for securing data and preventing falling victim to cyber threats.

What can we do to ensure the cyber security of our business?

Many of the biggest cyber attacks have happened to companies with substantial market capitalizations that are expected to invest significantly in securing their vast computer networks. And while these spectacular data breaches make the news, in reality, many other incidents happen without making it to the spotlight. Large or small businesses all suffer from falling victim to cyber security breaches. This is why all companies need to make special efforts to protect against the upcoming cyber threat trends for 2024.

Get a higher level of protection

You need to take precautions to keep your business information hidden and secure from the jaws of cyber threats. Cyber security is crucial for any business today. With cyber threats evolving in tandem with technological advancements, keeping your data out of reach will continue to be challenging. However, you can take a few preventive measures to protect your company. Here are some tips to keep your information secure.

Informing and educating employees

Since cyber threats are constantly changing, there can never be enough awareness around them. Talk about the new types of malicious intrusions and scams with your team. While this in itself doesn’t protect anyone from anything, it can help, for instance, to understand the importance of protecting the information of colleagues, customers, and the company itself. Limit the number of people with administrative access to mitigate the chances of downloading malicious software. Have a policy for do’s and don’ts.

Informing and educating customers

E-mails and text messages are unprotected means of communication and are the number one targets of cybercriminals. Let customers know that your company doesn’t request sensitive information from them through these means of communication. Let them know what kind of information you collect and why, and encourage them to report any communication that seems to be illegitimate.

Protecting your networks and databases

The importance of setting up firewalls and encrypting information can’t be stretched enough. This helps stop cyber criminals from easily accessing your files and sensitive information. Ensure your Wi-Fi network is secure, and do regular company data backups. If you fall victim to an emerging cyber threat, make sure you can get your data back.

Protecting your data from cyber security threats with the help of managed services solutions

Outsourcing the management, backup, and security of your data to a service provider can ensure your protection through access to robust security infrastructures. Managed service providers usually offer server monitoring services. These services can help spot any unusual activity quickly and stop the problem before it becomes bigger. These services can include configuring firewalls, encrypting data, and other security measures, which contribute to preventing tragedies.

Managed Security Services at Volico Data Centers ensure that your data is protected even against the latest emerging cyber threats out there. Securing your sensitive information from the reach of cyber attacks is among the highest priorities. Keeping your network clear of hostile intrusions is critical for maintaining a safe and secure work environment. Our regular data backup solutions ensure your business continuity and safeguard your company’s riskless progress even among the most sophisticated cyber threats lurking around in 2024.

Volico Data Center’s Managed Security Services include the following:

Server monitoring
Managed firewall & VPN
Nextgen Firewall (NGFW)
HIPAA Compliance
PCI Compliance
Managed UTM
Application Security
DDOS mitigation

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