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10 Cyber Security Trends in 2024 and Beyond

Human technology has come a long way. From simple tools fashioned out of rocks to virtual reality, it’s safe to say that we have made giant leaps as a species in terms of the implements that make day-to-day living easy and convenient.

And all of these advancements are worth celebrating and championing. They are a testament to humankind’s unrivaled ingenuity and boundless creativity.

However, it is also worth recognizing that with progress comes setbacks. For instance, in the case of technology, which paved the way for the digitization of most aspects of our lives, there are cybersecurity issues.

Throughout the 2010s, major cybersecurity breaches occurred. There’s the 2012 OXOMAR hack that compromised 400,000 credit cards, the 2017 WannaCry ransomware that in just one day infected 230,000 computers, and just before the decade ended, there’s the 2019 DDoS attack that temporarily shut down New Zealand’s stock market.

If there’s any silver lining to those events, it’s how they triggered continued research and development in cybersecurity. Now we have access to cutting-edge systems such as multi-factor authentication (MFA), Network Behavioral Analysis (NBA), and Sandboxing, among others, and we could expect more of these innovations. Come 2023 and beyond, here’s what to look out for.

Cybersecurity Trends

Here are 10 cybersecurity trends that are likely to shape the landscape in 2024 and beyond:

  1. Ransomware Evolution: Ransomware attacks are expected to become even more sophisticated, with threat actors using advanced encryption techniques and targeting high-value assets. Protecting against ransomware will remain a top priority for organizations.
  2. Zero Trust Architecture (ZTA): Zero Trust, which assumes no trust within or outside a network perimeter, will continue to gain prominence. Organizations will adopt ZTA principles to enhance security by verifying users, devices, and applications before granting access.
  3. AI-Powered Threats and Defenses: Cybercriminals will increasingly leverage artificial intelligence (AI) and machine learning (ML) to automate attacks, while organizations will employ AI-driven cybersecurity tools to detect and respond to threats more effectively.
  4. IoT Security Challenges: As the number of Internet of Things (IoT) devices continues to grow, so do the security challenges. Protecting IoT devices and networks from vulnerabilities and attacks will remain a significant concern.
  5. Cloud Security: With the continued migration to cloud environments, securing cloud-based data and applications will be paramount. Organizations will focus on adopting robust cloud security strategies and tools.
  6. Supply Chain Attacks: Cybercriminals are increasingly targeting the supply chain to compromise organizations indirectly. Strengthening supply chain security and vetting third-party vendors will be critical.
  7. Quantum Computing Threats: As quantum computing technology advances, it has the potential to break existing encryption methods. Organizations will need to prepare by transitioning to quantum-resistant encryption algorithms.
  8. Cybersecurity Regulation: Governments and regulatory bodies will introduce more stringent cybersecurity regulations and compliance requirements. Organizations must ensure they are in compliance with these regulations.
  9. Identity and Access Management (IAM): IAM solutions will become more sophisticated, incorporating multi-factor authentication (MFA), biometrics, and behavioral analytics to secure access to systems and data.
  10. Cybersecurity Workforce Shortage: The shortage of skilled cybersecurity professionals is expected to persist. Organizations will invest in training and development programs to build their cybersecurity teams and may also turn to managed security services.

It’s important for businesses and individuals alike to remain proactive in addressing cybersecurity threats and adopting best practices. Regularly updating security policies, staying informed about the latest threats, and investing in cybersecurity technologies and training will be essential for safeguarding against evolving cyber risks in 2024 and beyond.

Ransomware-at-the-Source

This cyberattack modus zeroes in on the operating system (OS) itself. One example is the Fantom ransomware, which poses as a Windows update. The goal is to gain complete control over computers. Here, Linux and Windows are two of the most vulnerable. The latter could be more at risk, though.

Given how Windows has a 76.13% share in the OS marketplace, it’s likely that hackers will put a target on them. A successful Windows OS hack allows cybercriminals access to the information of a huge chunk of the population. It’s a treasure trove, to say the least.

Meanwhile, for Linux, the threat comes in the guise of repository injections. Linux repository refers to the storage location with all applications and OS updates. Hackers could mount injection attacks on these archives.

To spare yourself from this threat, be wary of system updates. Be on the lookout for tech news that warns you about a compromised OS.

Bruteforce Attacks

This has been one of the go-to modus of hackers for ransomware delivery, and we’ll see more of it in the coming years. A brute force attack is a low-cost and high-reward approach for cybercriminals, hence its popularity.

Here, the groundwork is akin to a guessing game. Hackers speculate on usernames and passwords associated with targeted devices. Once they have those figured out, they circumvent authentication processes via cryptographic functions. Those, in turn, may include a variety of tools such as APIs, SSH, bots, and scripted apps.

To combat this threat, the implementation of MFA is of the essence. Privileged access management solutions come in handy, too.

Geo-Targeted Phishing Threats

Phishing is one of the old-school tactics employed by hackers. Although they’ve been around for a while now and information drives seeking to educate users on how they work increased in recent years, people still fall prey to phishing scams. Hackers are quick to maximize the opportunity by tweaking old means with seemingly simple modus updates. Case in point: geo-targeting.

In 2023 and beyond, we can expect more geo-targeted phishing scams. These cyberthreats are localized and personalized. That means that they may come off as authentic to the undiscerning eyes, therefore effective. Again, the first line of defense against this risk is by staying in the know. Learn the phishing patterns observed in your area via credible news sources.

Space Travel Scams

Blame the recent space race for the cropping up of phishing scams promising unknowing recipients an experience of the space gold rush in exchange for modest fees. While it’s true that the opportunity to travel to the great unknown as a civilian is no longer just sci-fi and now within the bounds of reality, the service is only accessible to wealthy folks like, well, Elon Musk and Jeff Bezos

If you received an email promising to send your DNA or your loved one’s ashes to the moon or Mars, call it out. In all likelihood—a phishing scam masquerading as a legit business.

Cyber Insurance Termination

These days, you could throw a stone and hit an organization that has fallen victim to a cyberattack at least once. That’s how prevalent the problem is. And that’s what has set off the demand for cyber insurance.

However, in 2023 and the years that will follow, it’s perfectly possible for cyber insurance coverages to be terminated left and right. That’s because of the steep increase in rates quoted by insurance providers.

For organizations looking for affordable insurance coverage, proving strict commitment to cyber hygiene is a must. If insurance underwriters see the robust infrastructure a company has put up to protect itself from cyber threats, they’ll be more willing to offer a good deal.

Modern Privacy Laws

This is a long time coming, but the trend’s still worth welcoming. Modern data privacy laws seek to protect individuals from nefarious entities seeking to profit from their personal information. For businesses that archive client and customer data, this means they will have to comply with more stringent protection policies.

Pioneers in this trend include the European Union’s General Data Protection Regulation (GDPR), the State of California’s California Consumer Privacy Act (CCPA), and Brazil’s General Personal Data Protection Law (LGPD). Expect more countries to get into this movement in the coming years.

Infrastructure Consolidation

As of the moment, organizations rely on various service providers to deliver different aspects of data management and protection infrastructure. That will soon change with the move towards consolidation.

Expect the same vendor to provide systems like Secure Web Gateway (SWG), Zero Trust Network Access (ZTNA), Cloud Access Security Brokers (CASB), and Firewall as a Service (FWaaS), among others, to an organization intent to ramp up cybersecurity. Management-wise, this is a welcome change. No need to touch base with multiple service providers. Accountability gets consolidated, too.

Artificial Intelligence (AI) Enabled Security

AI is not entirely new, but with it employed for the sake of cybersecurity, the technology adds a new facet to its value. These days, AI’s machine learning capabilities have paved the way to robust cybersecurity protocols that happen to be cost-efficient and convenient.

Machine learning allows for the identification and classification of different cyberattacks in such a way that those next in line could be accurately predicted and preempted. For organizations, this means cybersecurity becomes a preemptive system as opposed to a troubleshooting protocol. Of course, the former wins any day.

Attacks on the Healthcare Sector

Since the pandemic, cybercriminals have realized there’s huge money moving through the healthcare sector. And they will likely want a piece of that pie. But, of course, the healthcare industry refuses to bow down to cybercriminals. In fact, according to Globe Newswire, in 2019, the healthcare cybersecurity market value reached 9.78 billion. Come 2027, it is projected to grow to $33.65 billion.

This increasing need for a reliable data protection infrastructure among healthcare stakeholders is understandable given the critical information in their possession and the fact that they can be legally liable in case of a data breach. A successful hacking of patient information could fleece huge money from hospitals, insurance providers, and the government.

User Awareness

According to Cyber Observer, 80% of data breaches are preventable via basic cyber hygiene. Accurately and thoroughly assess vulnerability. Come up with robust and precise configurations. And most importantly, know that you are not exempt from cybersecurity risks, regardless of how tech-savvy you deem yourself to be.

Thankfully, as cybercriminals become more and more aggressive with their efforts and more and more intricate with their tactics, users are becoming more and more aware of these hackers’ wrongdoings, too.

Organizations have ramped up policies for how employees deal with critical corporate data. Individuals have increasingly relied on one-time passwords, among other identity authentication methods, for apps linked to sensitive personal information such as banking accounts. And more people are talking about cyber threats, including even those without direct association with the IT industry.

User awareness is a trend we can anticipate to spread like wildfire in the coming years. And that’s quite understandable given the immense cost of identity theft and data breach. Even a simple phone hack that exposes a user’s sensitive photos, videos, and conversations could be life-altering.

Be Well-Equipped for the Digital Future

Technology has become integral to modern living. From shopping via ecommerce to working from home using collaboration apps like Trello and Zoom, technology’s role in our very existence cannot be overstated. There is nothing wrong with that per se; reliance on technology becomes problematic if, and only if, it coincides with negligence.

It’s high time to be a smart technology user. Start by keeping abreast of cybersecurity threats and trends. Know how to protect yourself. That way, you won’t fall prey to malicious cybercriminals hell-bent on profiting off your confidential details.

References:

How AI Has Revolutionized Customer Service

https://blog.avast.com/history-of-cybersecurity-avast https://www.securitymagazine.com/articles/96503-expect-2022-to-be-the-year-of-cybersecurity https://stefanini.com/en/trends/articles/top-9-cybersecurity-trends-to-adapt-in-2022 https://www.gartner.com/en/articles/the-top-8-cybersecurity-predictions-for-2021-2022

https://www.beyondtrust.com/blog/entry/beyondtrust-cybersecurity-trend-predictions

https://financesonline.com/cybersecurity-trends/ https://heimdalsecurity.com/blog/cybersecurity-trends/

Originally posted 2021-12-17 05:58:43. Republished by Blog Post Promoter

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One comment

  1. Thanks for this article! Here in our country, one of the biggest banks recently experienced a cyberattack that affected many of their customers. This only shows that individuals and organization should be more educated on cybersecurity to avoid cyberthreats, especially since our country will be holding its presidential (automated) elections next year.

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