Cybersecurity Trends 2024

“Identity fraud is not a joke, Jim!”

We bet you’ve heard this line from Dwight Schrute, the quirky assistant regional manager of Dunder Mifflin, from the TV show The Office.

How about this one: “Computers rule the world today. And the fellow that can fool the computers, can rule the world himself.”

Well, that one was from the Superman villain Gus Gorman, a computer programmer-turned-hacker.

We’re not playing a Guess The Movie quiz; rather we’re highlighting the fact that cybersecurity has expanded to several fronts – identity fraud, ransomware, hacking, social engineering and whatnot. There’s no one-size-fits-all approach to securing your business systems; you must protect against every potential cybersecurity vector. Sounds challenging, right?

Well, evolving your cybersecurity perspectives to align with the latest cybersecurity threats is imperative. Businesses need to change as the cybersecurity landscape changes, by integrating the latest emerging technological advancements. That may sound challenging but it is quite simple; all you must do is stay up-to-date on the latest cybersecurity standards, threats, policies and strategies.

Last year, we outlined the threats to the cloud and mobile ecosystems, ransomware threats, IoT risks and automated cybersecurity. This year, businesses must keep their eyes peeled for more advanced threats and even more sophisticated solutions to combat them.

Read on and discover the top 5 Cybersecurity Trends of 2024!
 

Trend 1: Securing Enterprise Storage Against Ransomware Threats Will Be Critical

 
Raise your hand if you come across the term “ransomware” in 2023. Unfortunately, businesses will be dealing with this pesky cybersecurity threat in 2024 too. Given how well ransomware attacks work, bad actors will leverage this vector in 2024 to lock enterprise systems and block access to business data.

This year, businesses will focus on securing the weakest, most susceptible aspect of enterprise systems against ransomware attacks – namely, storage. In fact, several leading storage solutions providers, including Rubrik, Nutanix, VMware and others have promised to strengthen their defenses against ransomware by offering features such as immutable backups and snapshots, ransomware file protection, time management, NTP, etc.

In its latest report, security firm Splunk predicted that ransomware will proliferate as more cybercriminals will adopt the practice to exploit businesses. The numbers highlight how well it works in their favor: ransomware attacks cost businesses $1.85 million on average but of the 32% that pay the ransom only 65% get their data back, according to Cloudwards. Hence, ransomware will remain a key lookout area for cybersecurity teams for businesses of all sizes in the coming years.

TechDogs’ Takeaway: As we mentioned last year - businesses have only dealt with the tip of the iceberg when it comes to ransomware threats and the worst is yet to come. This year, cybersecurity professionals must focus on maintaining automated backups of critical data to prevent it being locked out. Moreover, businesses should invest in robust anti-ransomware solutions that automate regular updating and patching of IT systems. Lastly, employee training should be a priority as most ransomware attacks stem from human error (55%), such as phishing attempts.
 

Trend 2: Businesses Will Enhance Protection Against Advanced Persistent Threats (APTs)

 
If you haven’t heard of APTs that’s because it’s a new entrant in the cybersecurity scene. They refer to highly sophisticated, targeted attacks with the intention to gain unauthorized access to business systems. APTs are expected to proliferate and become stealthier in 2024, posing serious difficulties for organizations.

Bad actors will use sophisticated evasion strategies, such as living-off-the-land (LotL) attacks, where hackers leverage legitimate tools and functions available within a system to perform malicious actions and get around security measures. For example, an APT breach on SolarWinds was conducted to infiltrate the company's infrastructure and distribute a malicious update for Orion, its infrastructure monitoring and management platform. An APT attack provided the attackers with unauthorized access to sensitive databases, highlighting the potential impact this threat can have on businesses.

While smaller businesses are not completely safe, APTs will likely target high-value organizations such as government agencies, financial institutions, corporations, etc. Individual APT attacks might not demand technical expertise but the persistent and unrelenting nature of the attack, along with the attacker's capacity to alter strategy to avoid detection, make APTs an incredibly potent threat in 2024.

TechDogs’ Takeaway: While it sounds impossible to prevent Advanced Persistent Threats, businesses can take certain precautions. For instance, they should regularly employ robust intrusion detection systems to identify any unauthorized access. Further, by leveraging threat intelligence feeds, behavior-based endpoint protection and isolated sandboxes for suspicious files can enhance security against APTs. Lastly, form an actionable incident response plan that includes tools for continuous network monitoring to minimize the potential risk and damage of an APT attack.
 

Trend 3: Artificial Intelligence In Cyber Attacks And Defense

 
Last year, we talked about automating certain aspects of cybersecurity strategies. In 2024, the most significant contributor to cybersecurity automation will be, you guessed it, Artificial Intelligence. In 2024, cyber-attackers and defenders (businesses and individuals alike) will leverage artificial intelligence.

For instance, BAE Systems, a British multinational defense, security and aerospace business, has used artificial intelligence to boost its cybersecurity efforts by analyzing network activity and identifying unusual patterns that could indicate a threat. This approach is validated by cybersecurity professionals, as 61% believe that soon they won’t be able to detect breaches without AI technologies in their security tools, according to a Gitnux survey.

The drawback is that cybercriminals will also leverage AI for malicious purposes, such as imitating the voice of company executives to authorize fictitious transactions, automating the distribution of spyware and phishing emails as well and conducting distributed denial-of-service (DDoS) attacks. Businesses will use AI to automate cyber-attacks for penetration testing and to assess the impact of social engineering tactics. On the defensive front, organizations will use AI-powered threat intelligence, anomaly detection, and incident response solutions to quickly identify and address threats.

The trend is validated by IBM reporting, “Breaches at organizations with fully deployed cybersecurity AI and automation cost $3.05 million less than breaches at organizations with no cybersecurity AI and automation deployed.”

TechDogs’ Takeaway: AI solutions can scan, detect, isolate and analyze potential security threats much quicker than human security teams. To adopt an AI-driven cybersecurity strategy, businesses must focus on integrating AI tools within existing security infrastructure and tools, instead of investing in a brand-new AI-based infrastructure that entails installation and training costs. Speaking of training, the biggest challenge for businesses is the lack of talent that’s adept with new-age technologies, such as AI-driven cybersecurity platforms. Invest in suitable upskilling and training! Finally, despite the promise of AI, security teams must foster teamwork between AI tools and human experts for effective threat analysis and decision-making.
 

Trend 4: SecDevOps Will Ensure Security Is No Longer An Afterthought

 
We’re sure you’ve heard of DevSecOps – the practice of integrating cybersecurity principles into the DevOps process. It involves the collaboration between security and development teams to ensure that every stage of the software development lifecycle (SDLC) ensures a standard of security. However, in 2024, there’s a major transformation taking place as “DevSecOps” is transitioning to “SecDevOps.”

DevSecOps aims to enable a culture in software development teams to focus on building and delivering secure software. Yet, the security aspect is often an afterthought that tends to secure an already-built product. IDC’s Simon Piff has questioned the DevSecOps hype, saying “The term itself implies security is added following development. It’s a ‘bolt-on’ approach.”

The global cybersecurity industry has taken notice and is now adopting a SecDevOps approach where security comes before development. A SecDevOps approach achieves security at the outset rather than integrating security principles in products and services as a precautionary afterthought. Even Andrew Milroy, cybersecurity expert at Veqtor8, a cybersecurity advisory and research firm, agrees by calling for a SecDevOps approach where security is “baked into software development upfront.”

Hence, the adoption of “‘shifting left” to address security concerns earlier in the development process will be among the most significant trends in cybersecurity this year. While DevSecOps will not become obsolete, enterprises are showing interest in adopting the latest SecDevOps approach.

TechDogs’ Takeaway: SMEs are often targeted by hackers as their IT infrastructure is more susceptible to security threats due to poor DevSecOps practices. To limit the damage, they must emulate the larger enterprises in adopting more digital tools and technologies that help identify security loopholes in their software products/ services. Moreover, for such a strategy it is critical to prioritize collaboration between security and software development teams. Lastly, to protect themselves against expensive cyber threats and risks later on, organizations can adopt automated security checks into the DevOps pipeline that enable transitioning towards a SecDevOps strategy.
 

Trend 5: Convergence Of Network And Security Infrastructures

 
Did you know that last year, an estimated 76% of organizations used more than one cloud provider? This statistic certainly highlights the rising adoption of hybrid cloud networks. Yet, this means businesses are building their security layers on top of these networks which may lead to complicated deployments, poor user experiences and increased cybersecurity risk. Hence, in 2024, we will see more cybersecurity teams focus on converging their networking and security infrastructures. As the threat landscape evolves, organizations require a modern approach that gives them end-to-end visibility for both security and networking infrastructures, enabling them to respond quickly to potential threats.

Fortinet, a leading cybersecurity organization at the forefront of network-security convergence, stated that networks are “evolving at an unprecedented rate with the convergence of networks and security.” In fact, John Maddison, CMO of Fortinet, citing Gartner statistics said that the market for secure networking will become bigger than traditional networking by 2030. He validated this by giving an example, “A lot of people are now talking about platform and consolidation. The key in the future is to automate where, for example, if I do find something in my email, like a phishing email, they then talk to the endpoint, talk to the network to maybe stop it from coming in."

Converging networking and security infrastructure will be the most effective way to secure entire networking infrastructures. By consolidating networking infrastructure with security elements, businesses will ensure that all information that is transferred across networks, including location data, devices, content, enterprise assets and applications, is secure.

TechDogs’ Takeaway: If data is the lifeblood of businesses, securing networks that carry the data is paramount. Businesses should start implementing layers of defense around the network components to strengthen the security of their networks. Moreover, cybersecurity teams should move towards a zero-trust approach that ensures unauthorized access to networks is prevented, raising its security. Finally, businesses should seek to consolidate technology vendors that synchronize their network and security deployments to achieve a well-integrated security network infrastructure.
 

Conclusion

As we look ahead to 2024 and beyond, cybersecurity will remain a top priority for businesses of all sizes, as evidenced by the increasing number and variety of cyber-attacks and data breaches. Due to this, various trends have emerged that aim to outdo bad actors and cybercriminals and propel the cybersecurity market's growth significantly in the upcoming years. Trends such as securing enterprise storage against ransomware, protecting against APTs, using AI-driven strategies, transitioning to SecDevOps and converging network security are set to influence the cybersecurity industry in 2024. That’s all for this year folks!