News & Trends

Report Predicts Most Prevalent Cybersecurity Threats for 2024

Cyber attackers are becoming increasingly sophisticated, using advanced techniques such as social engineering, ransomware, and more to breach organizations' defenses. As new threats and tactics emerge, it’s becoming increasingly challenging for organizations to keep up with the latest threats and implement effective defenses. Understanding the specific threats that impact your industry is crucial in today's threat landscape.

Ontinue has released a report specifying emerging cybersecurity threats, where they analyzed around 600,000 endpoints to identify the most prevalent threats and made predictions about future ones. These are the key findings from the report:

• Nearly 50% of analyzed ransomware incidents targeted the construction and information technology (IT) sectors. 
• LockBit was proclaimed one of the most active ransomware groups, while 8Base targeted small and midsized businesses.  
• Ransomware attacks grew in complexity as the frequency of double-extortion techniques intensified.
  Inadequate IoT security was leveraged by malicious actors, who used these devices for denial-of-service (DDoS) attacks, botnet attacks, and unauthorized access gain. 
• AI posed a new challenge since malicious actors were able to use this technology to avoid conventional security measures or to create realistic deepfake content. 
• Social engineering tactics leveraged human vulnerabilities and posed a notable threat to organizations. 

In addition to discussing observed trends, the report also predicted trends that may emerge throughout 2024:

• AI will continue to be exploited for sophisticated attack techniques, including social engineering attempts and biometric security evasion. 
• Mobile devices will become key targets for exploiting access points and credentials. 
• Hacktivism and hacks-for-hire are projected to rise. 
• Ransomware operations will change, including the methods used and the information extorted. 

The report states that the three most common threats across all industries are phishing, social engineering, and vulnerability exploitation. Staff training and awareness remain the best defense against phishing and social engineering, whereas regular patching, vulnerability scanning, and network assessments should be frequent.

New attack vectors have been introduced with the continued rise of IoT devices. It’s essential to know that poorly secured connected devices have increasingly become targets for botnet exploitation, distributed denial-of-service (DDoS) attacks, and unauthorized access. Organizations must prioritize IoT security to prevent potential breaches and protect consumer data.

Additionally, as AI and ML technologies continue advancing, threat actors have begun leveraging them for malicious purposes. From generating convincing deepfake content to evading traditional security measures through adversarial attacks, AI and ML have become a double-edged sword. Protecting these systems from exploitation requires a combination of algorithmic defenses, robust training data, and ongoing security research.

According to the report, the following are cybersecurity best practices to help organizations develop a more robust security posture to reduce the risk of cyber threats and data breaches:

1. Regular Software Updates and Patch Management
2. Strong Access Controls and Authentication
3. Employee Training and Awareness
4. Regular Data Backups and Disaster Recovery Planning
5. Network Segmentation and Monitoring

Are you interested in learning more and seeing the full breakdown? Read the entire report for yourself here!

Understanding emerging trends and incorporating best practices is essential to improving your security efforts in 2024. Elevating user awareness through education and initiatives is crucial in recognizing and avoiding cybersecurity attacks, significantly reducing susceptibility.

In case you missed it, check out this article on recent highlights from the FBI and CISA’s cybersecurity advisory, as well as some safety takeaways from cyberattacks on MGM and Caesars’ casinos. For other similar articles, visit our AV/IT room!