2024 Top 5 Cybersecurity Predictions

2024 promises to be a year marked by unprecedented challenges and innovations. Picture this: a bustling metropolis where the heartbeat of daily life synchronizes with the hum of digital connectivity. Now, imagine the sudden jolt when schools, utilities, critical infrastructure, entertainment giants, financial institutions, and your vacation destination all find themselves under siege by malicious hackers, disrupting the rhythm of normalcy. Teachers cannot take attendance and record grades, students cannot access homework, schools are shut down, tourists are locked out of their hotel rooms, transportation stops working – this isn’t something out of an H.G Wells novel. This was the reality of the last few years. The colossal attacks on LAUSD, MGM Resorts, Boeing, Mr. Cooper, and more sent shockwaves through our daily lives, thrusting the importance of digital resilience into the spotlight. We can no longer focus solely on the prevention of cyberattacks; we must fortify our ability to endure them and rebound quickly.

Unplugging everything is not a solution. We saw how poorly that worked in the attacks on MGM and LAUSD. The interconnected nature of our modern world demands a strategic shift. As we delve into cyber resilience, ransomware threats, AI-based scams, and the looming shadow of quantum computing, it becomes clear that the digital realm is no longer just a virtual space—it’s the infrastructure of our reality, and its protection is a shared responsibility. This article explores the 2024 cybersecurity terrain – where the challenges are real, the threats are dynamic, and our commitment to not only safeguarding the integrity, availability, and confidentiality of information but also the recovery from an attack (our resilience) must be paramount.

    1. Cyber Resilience

The massive 2023 attacks catapulted the importance of digital resilience to new levels. Everyone is now paying attention. With the escalating sophistication of cyber threats and the persistent ingenuity of threat actors, organizations must shift their focus from preventing attacks to fortifying their ability to withstand and quickly recover from them. Modern technology’s interconnected nature means no company is immune to breaches. “Unplugging everything” is not a realistic strategy. Resilience must be a primary concern.

Introducing Digital Resilience. If you haven’t heard of this term – you will. Think of digital resilience as giving your computer, devices, and company the ability to keep working after a problem. It’s a bit like having a superhero for your digital world – but at the global infrastructure level! So, imagine if your computer faces a problem, like a sudden glitch or the operating system crashes. Digital resilience is the superpower that quickly figures out what went wrong, stops the problem from becoming worse, and finds a way to fix itself so you can get back to playing games, doing homework, or whatever you were doing without interruption. It’s all about making sure your devices bounce back from hiccups and stay strong. Now, we have to apply this concept to quickly recover from ransomware.

The increasing interdependence on global digital infrastructure and the proliferation of emerging technologies like AI and modern payments underscores the urgency for a robust cyber resilience strategy. Beyond the traditional firewalls and antivirus software, embracing a holistic approach that encompasses best practices, reducing the attack surface, proactive threat detection, rapid incident response, and comprehensive recovery plans is a must. The ability to adapt and recover swiftly from cyber incidents will minimize the impact of breaches AND ensure the continuity of operations. In 2024, cyber resilience is not just a goal; it’s a strategic imperative for safeguarding the integrity, availability, and confidentiality of sensitive information of our companies and our customers.

    1. Ransomware 2.0

Ransomware will continue to loom as a large, formidable, and persistent threat – because we make it too easy!

As technology advances, so do ransomware attacks, with cybercriminals adopting more insidious tactics and leveraging technologies to maximize their impact. Meanwhile, the tactics used to infiltrate companies are still elementary. Phishing, fake phone calls, and credential stuffing are all still very lucrative methods to deploy ransomware, It’s the damage done afterwards that keeps increasing.  The evolution of ransomware from mere data encryption to sophisticated strategies, such as double extortion and the targeting of critical infrastructure, signals a dark turn. 2024 is poised for an alarming surge in ransomware incidents, fueled by the increasing connectivity of devices, Ransomware as a service, the proliferation of cryptocurrencies facilitating anonymous transactions, the lack of qualified cybersecurity professionals, and a shocking continuing failure to follow best practices.

Organizations across all industries must brace themselves for  READ MORE HERE

Author

  • Steve Tcherchian

    Steve Tcherchian, CISSP, PCI-ISA, PCI-P is the Chief Product Officer and Chief Information Security Officer for XYPRO Technology. Steve is a member of the Forbes Technology Council, the NonStop Under 40 executive board and part of the ANSI X9 Security Standards Committee. With over 20 years in the cybersecurity field, Steve is responsible for global strategy and innovation of XYPRO’s security product line as well as overseeing XYPRO’s risk, compliance and security to ensure the best experience for customers in the Mission-Critical computing marketplace.   Steve is a security leader with a record of superior results in a variety of challenging and multicultural environments, as well as an engaging and dynamic speaker who regularly presents on cybersecurity topics at conferences around the world.

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