Top Cybersecurity Trends You Can't Miss (2024)
Happy New Year! As we approach 2024, the cyber threat world is changing at an unprecedented rate, and cyber security officials have a lot to digest and respond to.
The stakes have never been higher. Data accounts for 90% of intangible asset value across enterprises, with a data breach costing an estimated $4.45 million on average. In other words, there is a lot to lose if security measures aren't sufficient.
If you are feeling overwhelmed, we are here to help you shift gears. We've outlined a few major cyber security trends that you should keep an eye on as you finalize your security strategies for the coming year. What to Expect:
- Next-level phishing attacks. We cannot ignore the reality that phishing is the most common starting point for cybercrime, and that generative AI is expected to have a significant impact on this type of cybercrime activity by 2024. Threat actors are already employing ChatGPT to create phishing messages and boost the overall volume of operational phishing campaigns.
In other next-level phishing developments, cyber thieves are now using multi-stage phishing operations that include email and phone calls. However, the newest frontier for phishing is "3D attacks," in which phishers weaponize not only email and phone calls, but also video.
Deepfake technology will become more widely available, allowing hackers to visually impersonate targeted individuals' trusted contacts.
- Increased use of zero days to target multiple organizations.In 2023, the record number of zero days was discovered. As a result, zero-day brokers are growing, making it easier for hackers to access exploits.
Zero-day exploits are used by cyber thieves to target a large number of companies at once. For example, a zero-day bug was used to carry out the MOVEit transfer supply chain assault, which ultimately impacted over 2,000 firms.
Cyber security evaluations demonstrate that ransomware gangs are increasingly aggressively exploiting zero-day vulnerabilities, underscoring the threat to entire businesses and ecosystems.
- Stealthy supply chain attacks. Is your firm taking supply chain threats seriously enough? As supply chains become more networked and technology-dependent, cyber attackers will explore new ways to exploit these crucial systems.
Organizations who fail to future-proof systems against cyber supply chain threats risk their own extinction, as well as the collapse of their industry, lower market results, and other difficult consequences.
- CISO, CSOs and CEO collaboration. C-level executives will need to build closer relationships with their peers, resulting in unprecedented levels of collaboration.
This increased collaboration will be driven by C-level executives' rising knowledge of the key features of risk prioritization, budget optimization, and the need for proactive investments in cyber security.
C-level executives will not only improve security by strengthening joint efforts, but will also lay a solid platform for addressing broader concerns of organizational resilience.
- Cyber security increasing at the board level. Because cyber risk is inextricably linked to total business risk and has the ability to impact enterprise continuity, vendors and Chief Information Security Officers are putting more focus on training boards.
In anticipation of the crucial role of cyber security expertise in board decision-making, there is a trend toward requiring at least one member to be proficient in cyber security.
Gartner predicts that by 2026, 70% of corporate boards will have a cybersecurity-savvy member, highlighting the importance of cyber security understanding for successful governance.
Source: CyberTalk.org
