Top 4 Cybersecurity Predictions to Be Aware of for 2024
The Adlumin Threat Research Team has peered into the future and unveiled their top predictions for the upcoming year.
With each passing year, hackers become more sophisticated and the consequences of a breach become more severe. To help organizations prepare for the challenges that lie ahead, we have compiled this list of the top four cybersecurity threats to be aware of.
From the growing threat of Ransomware-as-a-Service (RaaS) to the increasing impact of AI tools, these predictions will arm IT Directors with the knowledge they need to protect their organization from potential risks. So, buckle up and prepare for the top four cybersecurity challenges in the new year.
1. Increase in Ransomware-as-a-Service (RaaS) Attacks
Ransomware attacks have become more sophisticated, causing financial, operational, and reputational damage to businesses and organizations. RaaS refers to the model where cybercriminals offer ransomware tools and infrastructure to other hackers, who then deploy the ransomware on their behalf. This has enabled malicious actors with less sophisticated technical skills to carry out ransomware attacks, and share the profits with the original creators.
The rise in RaaS actors is alarming because it lowers the barrier to entry, making ransomware attacks accessible to a broader range of cybercriminals. This means we can anticipate a surge in ransomware attacks as more individuals and groups access these tools. This trend threatens organizations of all sizes and sectors, as no one is immune to being targeted by ransomware attacks.
2. Shift from Data Encryption to Data Extortion Ransomware
Ransomware has been a long-standing top cybersecurity threat, but in the new year, a shift in its tactics is predicted. Traditionally, ransomware attacks involved encrypting victims’ data and demanding a ransom for release. However, cybercriminals are expected to focus on data extortion increasingly.
This shift means threat actors will also exfiltrate sensitive information from victims’ systems and encrypt data. They will then threaten to release or sell this data if the ransom is not paid. This new approach adds an extra layer of pressure on organizations to comply with the attackers’ demands, as the exposure of sensitive data can lead to severe consequences, including reputational damage, regulatory penalties, and legal liabilities.
3. Increased Focus on Cyberattacks Against Hospitality
This cybersecurity threat prediction for the new year highlights the potential increased focus on attacks targeting the hospitality industry and the expected rise in the sophistication of fraud schemes. As the hospitality sector relies heavily on technology and handles a vast amount of customer data, it has become an attractive target for cybercriminals. This prediction suggests that attackers will continue to exploit vulnerabilities in hotel networks, reservation systems, point of sale (POS) terminals, and other digital platforms to steal confidential information.
For example, the Marriot Hotel has faced multiple cybersecurity breaches over the past couple of years. Their most recent breach resulted in losing 20 gigabytes of sensitive customer and employee data including credit card information in an extortion attempt.
4. Increased Impact from Malicious AI Tools
The increased impact of malicious AI tools on both attackers and defenders is predicted to be a major cybersecurity threat. AI technology has evolved significantly, creating a new era in cyberattacks and defense strategies. Cybercriminals leverage AI tools to amplify the scale and sophistication of their attacks, making them harder to detect and mitigate. AI-powered malware can self-propagate, adapt, and evolve, posing immense challenges to traditional cybersecurity measures.
Organizations also protect themselves by using AI tools to enhance their security capabilities. AI can help identify and analyze threats in real-time, assist in incident response, and automate cybersecurity processes. However, these AI tools can generate false positives or negatives, leading to missed or misinterpreted threats and potentially unlocking vulnerabilities.
The use of AI on both sides creates a dynamic and rapidly evolving cybersecurity landscape. Attackers can leverage AI algorithms for advanced evasion techniques. On the other hand, defenders have the daunting task of keeping up with AI-powered attacks while navigating through potential inaccuracies or blind spots in their AI-enabled defense systems.
Illuminate Threats and Eliminate Risks in 2024
The threat of data breaches and ransomware attacks loom over organizations of all sizes and sectors. It’s no longer a matter of if your organization will get breached or attacked with ransomware but rather when. The harsh reality is that no system is invincible, and cybercriminals are continually finding new ways to exploit vulnerabilities.
While it can be challenging for IT teams to keep pace with evolving threats, innovative technology solutions and security measures are available to alleviate the strain. Organizations can automate threat detection and prevention processes by leveraging advanced security solutions like a Security Operations Platform and pairing them with Managed Detection and Response (MDR) Services, effectively mitigating the risks associated with cyber attacks.
Through the use of AI and machine learning, these solutions analyze vast amounts of data, identify anomalies, and respond to potential threats in real-time, empowering organizations to defend against cyber threats proactively.
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