In the world of cybersecurity, 2024 is going to be a whole new ball game. The speed of technological change, combined with the cunning of cybercriminals, means we need to be on high alert for emerging threats. Here are 7 cyber threats to watch out for in 2024.
1. AI Cyber Attacks
What’s the threat?
Artificial intelligence (AI) has changed the world in many ways, including cybersecurity. But the same technology that helps us defend against cyber threats can also be used by attackers. AI cyber attacks involve using machine learning algorithms to launch more sophisticated and targeted attacks.
Impact
More Sophisticated Phishing: AI can create highly targeted phishing emails that are more convincing and harder to detect.
Automated Exploit Kits: AI-powered tools can find and exploit vulnerabilities in systems faster than ever before.
Adaptive Malware: Malware that can change and adapt to evade traditional security measures.
Mitigation
AI-based Security Solutions: Get AI-driven cybersecurity solutions that can detect and respond in real-time.
Continuous Training: Train employees to recognize AI-enhanced phishing attempts and other tactics.
Solid Incident Response Plans: Have incident response plans in place that can handle AI attacks.
2. Quantum Computing Threats
What’s the threat?
Quantum computing can solve complex problems way faster than classical computers. But that same capability is a major threat to current encryption methods which are the foundation of digital security.
Impact
Breaking Encryption: Quantum computers could break widely used encryption algorithms and expose sensitive data.
Faster Cyber Attacks: Quantum computing can make cyber attacks faster and more powerful.
Mitigation
Quantum-Resistant Encryption: Get and migrate to quantum-resistant encryption.
Stay Up to Date on Quantum: Keep current on quantum computing and its impact on cybersecurity.
Work with Experts: Work with cybersecurity experts and researchers to figure out how to mitigate quantum threats.
3. IoT Vulnerabilities
What’s the threat?
The Internet of Things (IoT) is growing, with billions of devices connected worldwide. But many IoT devices are not secure at all and are a target for cybercriminals.
Impact
Botnets: Compromised IoT devices can be used to create botnets for DDoS attacks.
Data Breaches: Weak security in IoT devices means unauthorized access to sensitive data.
Physical Security Risks: IoT vulnerabilities can also pose physical security risks, like smart home systems or connected medical devices.
Mitigation
Secure Development: Encourage and practice secure development for IoT devices.
Regular Updates: Make sure IoT devices get regular firmware updates and patches.
Network Segmentation: Segment your network to isolate IoT devices from critical systems and data.
4. Deepfakes
What’s the threat?
Deepfakes, which use AI to create realistic but fake audio and video, are a growing threat in cybersecurity. These fake media can be used for fraud, misinformation and manipulation.
Impact
Social Engineering: Deepfakes can be used to impersonate trusted people and lead to social engineering attacks.
Reputation Damage: Fake videos and audio can damage individual and organizational reputation.
Financial Fraud: Deepfakes can be used to trick financial institutions into authorizing fraudulent transactions.
Mitigation
Detection Tools: Use advanced AI tools to detect deepfakes and verify media.
Public Awareness: Educate the public on the dangers of deepfakes and how to spot them.
Legal and Policy: Advocate for and support laws to combat deepfake abuse.
5. Supply Chain Attacks
What’s the threat?
Supply chain attacks target the interconnectedness of today’s business ecosystems. Cybercriminals exploit vulnerabilities in third-party vendors and suppliers to get to the primary target.
Impact
Widespread Disruption: Compromising one supplier can impact multiple organizations.
Data Theft: Sensitive data can be stolen from less secure vendors and used to attack primary targets.
Operational Downtime: Supply chain disruptions can cause significant downtime.
Mitigation
Deep Vetting: Vet all third-party vendors and suppliers thoroughly.
Continuous Monitoring: Monitor the supply chain for threats continuously.
Collaborative Security: Work with suppliers to make sure they follow secure practices.
6. Ransomware-as-a-Service (RaaS)
What’s the threat?
Ransomware-as-a-Service (RaaS) has made it easier for cybercriminals to get into the ransomware business, even for those with limited technical skills. RaaS is the leasing of ransomware tools and infrastructure to would-be attackers.
Impact
More Attacks: RaaS will lead to more ransomware incidents.
Higher Ransom: More criminals will mean higher average ransom.
Operational Downtime: Successful ransomware attacks can cause significant downtime and service disruption.
Mitigation
Regular Backups: Keep regular, offline backups of critical data to recover from ransomware attacks.
Endpoint Protection: Use advanced endpoint protection to detect and block ransomware.
Incident Response: Develop and update ransomware incident response plans.
7. Cyber-Physical Attacks
What’s the threat?
Cyber-physical attacks target the convergence of cyber systems with physical infrastructure. These can be catastrophic in critical sectors like energy, transportation and healthcare.
Impact
Physical Harm: Cyber-physical attacks can cause physical harm, e.g. tampering with medical devices or industrial machinery.
Economic Loss: Disruption to critical infrastructure can cause significant economic damage.
National Security: Attacks on critical infrastructure can be a national security threat.
Mitigation
Strong Security: Implement strong security for both cyber and physical parts of critical infrastructure.
Cross-Sector: Collaborate with other sectors to share threat intel and best practices.
Regular Drills: Run regular drills.
The cybersecurity landscape is getting more complicated with new threats that outsmart traditional security. As we go into 2024, we need to be proactive, use advanced tech, continuous education and collaboration between individuals, organizations and governments. By understanding and preparing for these emerging cyber threats we can protect our digital and physical world from cybercrime.
