Industry executives and experts share their predictions for 2024.  Read them in this 16th annual VMblog.com series exclusive.

Top 10 security predictions for 2024

By Sameer Malhotra, CEO of TrueFort

In 2023, several trends have informed my thinking on the top security challenges we can expect next year. These include the expanding footprint of IoT devices combined with vulnerabilities in third-party software libraries, the growing sophistication of phishing attacks aided by AI, and a continuous stream of API and web application vulnerabilities. Here are my predictions for top 10 security threats in 2024 and some recommendations for recalibrating our security defenses.

1. Phishing as the Primary Entry Point

• Implications: Organizations will continue to face threats from deceptive emails and websites designed to trick employees into revealing sensitive information. The human element remains the weakest link.
• Protective Measures: Companies should focus on employee training and raising awareness about phishing tactics. Implementing email filters and adopting multi-factor authentication can also significantly reduce the risks.

2. Web Application Vulnerabilities

• Implications: Data centers and cloud environments are attractive targets due to the vast amount of data stored, and the high likelihood that it includes critical data. Unprotected web applications become the doorway for attackers.
• Protective Measures: Ensure web application firewalls (WAFs) are in place. Regularly perform penetration testing and vulnerability assessments on applications, especially those exposed to the internet.

3. Attackers' Advantage

• Implications: The sheer number of attack vectors means security teams have a massive area to defend, whereas attackers need only one successful method.
• Protective Measures: Adopt a proactive, rather than reactive, security posture. This includes threat hunting, real-time monitoring, and establishing robust incident response protocols.
  

4. Zero-Day Exploits

• Implications: The unpredictable nature of zero-day exploits means organizations must always be prepared for unforeseen vulnerabilities.
• Protective Measures: Implement a positive security model that prevents unexpected and unapproved behaviors and maintain backups in isolated environments.

6. Software Supply Chain Attacks

• Implications: Third-party libraries and tools used in software development can introduce vulnerabilities.
• Protective Measures: Since third party software applications are inherently trusted and often have administrator or elevated privileges, implement microsegmentation to contain the spread and blast radius of attacks.
  

7. PCI DSS 4.0 Challenges

• Implications: Organizations not adequately prepared will find themselves undergoing broader and more intensive assessments, which can be both time-consuming and costly.
• Protective Measures: Prioritize compliance efforts, start preparations for PCI DSS 4.0 immediately, and invest in tools that demonstrate effective segmentation.

8. Legacy Systems Vulnerabilities

• Implications: Older systems that are no longer supported are rife with vulnerabilities, making them prime targets.
• Protective Measures: Plan for phased upgrades of legacy systems. Where this is not possible, employ additional protective layers that can isolate these legacy systems from the much larger portion of the environment.

9. Ransomware Evolution

• Implications: The sophistication and resulting cost associated with ransomware attacks will continue to rise.
• Protective Measures: Maintain offline backups, conduct regular drills on ransomware response, and employ microsegmentation to contain and stop the spread of ransomware within the organization.

10. IoT Device Attacks

• Implications: As IoT devices proliferate, they become both conduits and targets for cyber-attacks.
• Protective Measures: Ensure strong default credentials on all IoT devices and regularly update their firmware. Segment IoT devices from primary networks when possible.

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ABOUT THE AUTHOR

Sameer Malhotra is CEO and co-founder of TrueFort, an innovator in application-centric enterprise security. Prior to founding TrueFort, Malhotra spent more than 20 years in senior IT executive roles in the world's top financial institutions, including JPMorgan Chase, Bank of America Merrill Lynch and Goldman Sachs. Sameer is widely recognized for his extensive and in-depth knowledge of infrastructure and security, he owns multiple patents in the field and obtained his Master of Science degree in Technology Management from the Stevens Institute of Technology.