Technology continues to evolve, and so do the tactics employed by cybercriminals. Their efforts will become more advanced next year – creating a wave of new threats for businesses. While the underlying premise of many cyberattacks has largely remained constant, cybercriminals are finding increasingly sophisticated ways of carrying out their attacks. What should you be aware of to make your business safe and resistant to various attacks? Let’s take a look at what we can learn as we move into 2024.

The Tactical Changes of Cybercrime

Adversaries study the changing threat landscape just as closely as cybersecurity leaders, and some of the most effective groups are changing how they do business to stay ahead of cybersecurity measures. In 2024, we can expect a notable shift towards more sophisticated techniques. Attackers will increasingly employ tactics like advanced social engineering, AI-driven attacks, and supply chain compromises.

Social Engineering: Attackers will continue to exploit human psychology to gain access to sensitive data. Phishing attacks will become even more convincing, using highly personalized and deceptive content to deceive users.

AI-Driven Attacks: The use of artificial intelligence in cyberattacks will rise. Attackers will leverage AI for tasks like automating reconnaissance, optimizing malware delivery, and evading detection by learning from defensive strategies.

Supply Chain Compromises: Cybercriminals will target software and hardware supply chains to infiltrate organizations indirectly. This approach allows attackers to compromise multiple entities through a single breach, making it a highly effective method.

Rise in Ransomware Threats

Ransomware attacks have been on the rise in recent years, and this trend is expected to continue in 2024. Cybercriminals will refine their ransomware tactics, making it even more challenging for organizations to defend against and recover from such attacks.

Double Extortion: Attackers will continue to employ double extortion tactics, which involve not only encrypting data but also stealing sensitive information and threatening to release it unless a ransom is paid.

Targeted Sectors: Critical infrastructure, healthcare, and government institutions will remain prime targets for ransomware attacks due to their potential for widespread disruption and data access.

Exploitation of New Technologies

As organizations adopt emerging technologies, they inadvertently create new attack surfaces for cybercriminals. In 2024, the exploitation of these technologies will pose significant threats.

5G and IoT Vulnerabilities: The proliferation of 5G networks and the growing number of Internet of Things (IoT) devices will create opportunities for attackers to exploit weak security in these technologies.

AI-Generated Deepfakes: The use of AI-generated deepfake videos and audio will make impersonation attacks more convincing, potentially leading to fraudulent activities or misinformation campaigns.

Quantum Computing Risks: While still in its early stages, quantum computing poses a long-term threat to encryption methods. Cybercriminals may exploit quantum technology to break current encryption standards.

Regulatory Compliance and Legal Considerations

Regulatory compliance and legal considerations will play a crucial role in cybersecurity in 2024. As governments and industries enhance their cybersecurity standards, organizations must navigate a complex legal landscape.

Stricter Data Protection Laws: Data protection regulations will continue to evolve, with an emphasis on stricter requirements for data handling, breach reporting, and privacy rights.

Liability and Accountability: Legal frameworks will place a higher degree of liability on organizations for cybersecurity breaches, potentially leading to more significant financial and reputational consequences for non-compliance.

International Cooperation: Cybercrime is often transnational, and international collaboration will become more critical in prosecuting cybercriminals and addressing cybersecurity threats effectively.

Get a Higher Level of Protection

Businesses need to proactively implement robust cybersecurity measures to safeguard their data and networks. Is your company prepared for the threats that cybercriminals are planning in 2024? Elevate your security posture with the help of PointSolve’s managed cybersecurity solutions. We deliver 24×7 protection to keep your business ahead of evolving threats. Our innovative platform and concierge delivery model enable us to provide better, more cost-effective protection.

Have questions? Want to talk specifics? That’s what we’re here for. Reach out today to speak with one of our friendly experts.