Industry executives and experts share their predictions for 2024. Read them in this 16th annual VMblog.com series exclusive.
Navigating the Tightrope Between Progress and Peril in 2024 Cybersecurity
By
John Pirc, VP and Head of Product at Netenrich
As the curtain closes on 2023, cyber policy
initiatives signal maturing governance while next-generation AI applications
show immense promise in augmenting cyber defense. However, threat innovation
continues rapidly outpacing mitigation efforts across critical domains.
Sophisticated ransomware schemes extort victim
organizations with expensive - even deadly - consequences. Phishing endures
through relentless social engineering and credential theft has been aided by
leaps in the AI leveraged by attackers. Meanwhile, state-sponsored groups
increasingly co-opt cyber domains for ideological subversion and societal
disruption.
The raw capacity for technological progress
equally empowers ethical hackers and criminals alike. This ever-evolving
landscape demands security leaders emphasize resilience and continuity planning
to navigate tightening margins between progress and peril. As attack tactics
sharpen in 2024, resilience and adaptation will prove vital. Here are four
trends that will define the coming year.
1.
The Evolution of Ransomware
Extortion
Ransomware has rapidly evolved from basic
encryption schemes into sophisticated extortion rackets with mounting societal
impact. This trend will intensify in 2024 as threat actors refine multifaceted
schemes combining data encryption, theft, and public release. Victim
organizations worldwide face immense pressure to pay complex ransoms or risk
data leakage.
As ransoms and data leakage consequences
escalate, organizations must prioritize understanding their ransomware
preparedness. Bolstering backup protocols, incident response, infrastructure
resilience and employee education on recognizing lures becomes paramount to
counter this threat.
2.
The Persistent Peril of
Phishing
Compromised credentials have long plagued
cybersecurity and will persist as a top attack vector despite security
awareness advancements. The gateway vulnerability of usernames and passwords
coupled with socially-engineered credential theft will be in the headlines
again, so it's important to ensure it's not your company's name on the chyron.
Mitigating this requires an amplified focus on
Zero Trust and multifactor authentication to verify identities. Additionally,
security awareness training is vital to recognizing phishing attempts aimed at
stealing credentials. As networks expand and threats grow more sophisticated,
the peril of compromised credentials will lead cyber priorities in 2024.
3.
Technological Change Yields
Uncertainty
AI will progress significantly in 2024,
presenting a dichotomy within cybersecurity. Attackers will employ AI to
analyze defenses, custom-tailor payloads, automate campaigns, and enhance
social engineering. Meanwhile, AI and machine learning will further augment
malware, intrusion and anomaly detection, alongside other defensive
applications.
As AI accessibility expands for criminals and
defenders alike, it will present both profound opportunities and challenges for
cybersecurity. Cognitive computing emerges as a top domain necessitating
security focus next year. The outcome will be decided by which side leverages
the technology to greater effect.
4.
Geopolitical Motivations
Expand
Threat actors demonstrate an increasing
willingness to utilize cyberattacks for subversion and ideology promotion tied
to global events, such as the 2024 U.S. presidential election. Nation-state
adversaries, hacktivists, and cyber terrorists may target healthcare
organizations, public utilities, government entities, and the general public to
incite disorder, coerce policy shifts, or promote their agendas.
With threats transcending theft and
disruption, organizations of all types must implement controls, training, and
response strategies accounting for this expanding attack landscape where
everyone becomes a potential target. Geopolitical cyber events will reshape
assumptions.
A Quiet
Year is a Good Year
The scale of change ahead challenges
optimistic assumptions. But all is not lost; enhanced governance, access
control and AI security applications keep maturing safeguards on pace alongside
escalating threats. Prioritizing robust authentication, layered data protection
and cyber threat intelligence paves the path forward to counter liabilities
introduced by amplified connectivity and criminal innovation. With vigilance
and proactive adaptation, the most damaging repercussions of persistent
exposure can still be overcome.
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ABOUT THE AUTHOR
John is cybersecurity product leader with global security and business experience spanning over 25 years. He's worked with Cisco and IBM, as well as hyper-growth venture-backed SaaS startups including Alert Logic and Secureworks. He has consulted to Fortune 500 companies, world governments, and businesses. He began his career at the CIA and has written three books on cybersecurity. He holds a BBA degree from the University of Texas.