As we are striving to take the world towards automation, one in every ten people in every corner of the world is facing cyber threats.
To show the depth of these cyber threats, look at these numbers.
- Global cyber threats have evolved as expected in 2024, reaching an average of 1308 per week per organization, as per the reports from Secureframe.
- 44.7% of data breaches resulted from the abuse of valid credentials.
- IoT malware attacks have surged by 400% across a variety of businesses, with the industrial sector being the most frequently targeted globally.
In today’s increasingly digital world, cybersecurity is a serious concern for individuals and corporations. Technology is evolving, as are fraudsters’ techniques. It is critical to stay up-to-date on the latest cybersecurity threats to protect sensitive data and keep systems secure.
It can be challenging to understand the depth of cyber threats and deploy advanced solutions against them. However, by training your employees on handling cybersecurity threats, you can significantly reduce the risk of falling victim to them.
EducationNest offers customizable corporate training programs designed to raise cybersecurity awareness and educate employees and organizations on defending themselves against what is becoming one of humanity’s most pressing dangers.
We recommend you explore EducationNest’s tailored corporate training programs that prioritize the critical issue of cybersecurity.
Let’s get to know the most critical cybersecurity threats in 2024.
Phishing Attacks: What They Are, Their Types, and the Process
Phishing attacks are still one of the most frequent cybersecurity concerns.
In brief, phishing is a type of cyber threat that contains scam links to malicious websites sent by attackers via email. Its malware can sabotage an organization’s systems.
More sophisticated cybercriminals utilize social engineering techniques to trick users into providing personal information. Because phishing emails and messages might appear to be legitimate, distinguishing between damaging efforts and genuine conversations can be challenging, making the process easy for attackers to create an organization or an individual to fall for it.
To name a few, these are the four types of phishing attacks:
Deceptive Phishing
A fake email, pretending to be from a source, asks for sensitive information such as a password, credit card number, etc. by sending you a clickable link.
Spear Phishing
Targeting individuals: this type of phishing involves researching their targets on social media and other digital platforms. Based on their weak points, attackers target individuals to fall for a scam.
Whaling
When attackers target high-profile individuals such as CEOs and MDs, it is known as whaling. In this cyber threat, the attacker spends quality time locating the target to steal sensitive information with a strong backup story to anchor them.
Evil Twin Phishing
This cyber threat uses false Wi-Fi as a weapon to steal the individual’s information. As the victim clicks and logs in to the Wi-Fi network, the attacker captures the information.
In 2024, we expect to see a surge in spear phishing assaults and other targeted phishing attempts.
How one should tackle phishing attacks
- Adding an extra layer of protection by implementing multi-factor authentication (MFA)
- Teaching staff and users how to spot phishing efforts
- Advanced email filtering and security software can also assist in identifying and thwarting phishing emails before they reach their intended recipients.
Ransomware
Ransomware attacks are the worst version of cyber threats, as they target major sensitive information, keeping one’s digital existence at stake. It is advisable to plan for your security in parallel with building your career.
Cybercriminals are adopting increasingly complex tactics to encrypt victims’ data and demand ransom payments, resulting in a surge in ransomware attacks. These assaults have the potential to entirely ruin businesses, severely damaging their reputations and budgets.
We should expect ransomware gangs to continue to refine their techniques in 2024 and target critical infrastructure and larger companies.
Some of the tactics to prevent ransomware attacks are:
- Creating an offline backup in addition to doing regular data backups.
- Implementing the most recent security updates for systems and apps.
- Using dependable endpoint security tools.
- Regularly doing security assessments. It can help identify and resolve vulnerabilities before they are exploited.
Supply Chain Attacks
In a simpler word, supply chain attacks are a chain of threats without any specific effort for the attacker, as they focus only on one supplier but take all the customers connected with them.
There are certain security threats in the supply chain, such as third-party vendors, digital risks, supplier fraud, data protection, and many more.
The best practices to defend against supply chain attacks
- Keeping up with third-party providers and conducting thorough due diligence.
- Frequent supplier assessments and security audits can help discover potential threats.
- Develop detailed security rules and processes for providers.
- Include suppliers in written contracts.
Internet of Things IoT Attacks
The growing number of Internet of Things (IoT) devices has provided attackers with a broader target to hack. Because many IoT devices lack adequate security safeguards, they are susceptible to hacking. Threats to IoT vulnerabilities will likely increase as the number of connected devices grows.
With the connection that has been built by IoT devices, from household devices to industrial usage, there is a rapid growth in security challenges.
Gartner predicts 25 billion IoT devices worldwide by 2024, with cyberattacks on these devices increasing. Juniper Research predicts IoT-related cybercrime will cost enterprises over $5 trillion by 2024, emphasizing the need for robust IoT security measures.
Some of the solutions listed below to prevent IoT attacks include:
- Strong authentication methods and ensuring that devices are updated with the most recent firmware are critical security considerations for Internet of Things devices.
- By segregating IoT devices from critical systems, network segmentation can help contain such compromises.
- Using security IoT solutions that incorporate threat detection and real-time monitoring can help improve overall security.
Zero-Day Exploits
Zero-day exploits seek to exploit unpatched vulnerabilities in systems and software, allowing hackers to begin attacks before the release of security fixes. These weaknesses, which are routinely used to propagate malware, steal data, or gain unauthorized access to systems, can have severe consequences.
Preventive Defense
- Organizations should adopt a proactive approach to security to avoid zero-day attacks. For example, implementing intrusion detection and prevention systems (IDPS) and frequently assessing vulnerabilities.
- Keeping up with newly found dangers. Organizations may also stay ahead of potential zero-day vulnerabilities by collaborating with cybersecurity professionals and sharing threat data.
Conclusion
Cybersecurity must be maintained by being vigilant and cautious as long as cyber dangers exist. Individuals and businesses may make proactive efforts to protect their digital assets by being aware of this year’s major hazards, which include ransomware, supply chain attacks, phishing attacks, IoT vulnerabilities, and zero-day exploits.
However, purchasing cutting-edge security technologies, hosting frequent security training sessions, and staying up-to-date on the latest cybersecurity advances are critical steps in protecting against these persistent threats.
In addition to the emphasis on generating knowledge-based skill sets and a data-driven decision-making culture in cyberattacks, EducationNest offers a corporate training program to enhance defensive skills.
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