Cybersecurity Experts Share The Biggest Risks And Trends To Watch In 2024

Cybersecurity Experts Share The Biggest Risks And Trends To Watch In 2024

The cybersecurity landscape is dynamic, such that new threats are emerging daily, followed by new technologies exploited by threat actors to cause mayhem. Security threats and trends towards 2024 look critical as AI grows popular and codeless app building becomes accessible to everybody.

The following is a discussion we held with industry professionals to gain insights into the future of cybersecurity.

The Top Security Risks Of 2024 Will Require New Mitigation Approaches

1. InfoStealer malware

The current trend in Ransomware will only get worse. Initial Access Brokers (IABs) specialize in breaching systems and selling this access to other threat actors. With the growing threat of infostealer malware, the technical bar to gain initial access to large corporate networks has never been lower.
Infostealers and IABs are often used by ransomware threat actors to gain an initial foothold within their target of choice, pivot within the network and then exfiltrate sensitive data (for double extortion attacks) before encrypting their victims' computers. 2024 will be the year that organizations of all sizes integrate Cyber Threat Intelligence (CTI) into their defence strategy.

Josh Amishav, CEO,  Breachsense

2. AI-driven security controls

In 2024, I am anticipating more use of AI in threat detection through which cyber threats can be identified in advance. Similarly, there will be an increased focus on quantum-resistant cryptography because quantum computers can break traditional encryption systems. Decentralized identity management is likely to feature highly in cybersecurity professional strategies. However, with edge computing comes new problems requiring new security measures designed specifically for networked structures. Collaborative efforts among cyber security groups will boost cooperation and teamwork in fighting against advanced cyber threats.

Ayman Nazish, Social Sharings

3. Phishing on job sites

These scams are increasingly found on job boards, where fraudsters collect sensitive information from applicants' resumes. This is especially problematic with the growth in remote work and freelance job opportunities. High unemployment rates contribute to the problem. Scammers disguise phishing schemes as job applications, asking for Social Security numbers and other personal details, not for background checks, but for identity theft. To avoid falling victim, it's crucial to research employers and verify their legitimacy through resources like the Chamber of Commerce.
Further, as user identities are prime targets for cyber adversaries, inundating users with constant warnings and mandatory awareness training can lead to exhaustion and mistakes. A better approach is a zero-trust model based on least privilege. Customizing awareness training to suit the specific needs of different employee groups is also beneficial, making it more digestible and less overwhelming.

Fawaz Naser, CEO, Softlist

4. Card not present frauds (CNP)

Consumers will continue to see a surge in card-not-present (CNP) fraud. Research found that card-not-present fraud would make up 73% of all card payment fraud this year. Expect this trend to continue into 2024 as the dominant way of scamming consumers, especially with online shopping.
This kind of fraud occurs without a scammer needing your physical card to steal your money. Instead, all they need to get their hands on is your credit card number, personal identifying information (PII), your name or address, or the three-digit security code on the back.
As e-commerce continues to develop into a multi-trillion-dollar industry, consumers need to be increasingly worried of not just protecting their physical cards, but their entire digital trail. Masking as a security feature will continue to see more mass adoption. Headed into 2024, consumers will continue to wise up to the fact that shopping online is similar to playing roulette – you never actually know if your information is safe.

Guy Bauman, CMO & Co-Founder of IronVest

Certainly, 2024 will be a challenging but exciting year for all players in cybersecurity.

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