Although the new year is already a few days old, annual kick-off events are still in full swing everywhere. So we too have been thinking about what to expect in terms of information and IT security in 2024.
Based on current trends and developments in the cyber security landscape, we anticipate the following challenges:
- Increase in ransomware attacks: Ransomware remains a major threat to organisations of all sizes. Attackers will use even more advanced tactics, including targeted attacks that specifically target critical data or systems to demand higher ransoms.
- Increase in supply chain attacks: Cyber attacks on the supply chain, where third parties are compromised to gain access to larger networks, are likely to increase. Such attacks are difficult to detect and combat as they often target trusted relationships.
- Increasing threat from AI-based attacks: As Artificial Intelligence evolves, cybercriminals will begin to use AI technologies to automate and personalise attacks. This is likely to lead to far more efficient and even harder to detect attacks.
- Data breaches and theft of sensitive data: Data breaches where personal data is compromised remain a critical risk. Companies must prepare for increased attacks on their system landscapes – whether traditionally operated on premise or in the cloud.
- Reduced relevance of traditional viruses and malware: While traditional viruses and malware still pose a threat, they are likely to become less relevant compared to targeted, advanced attack methods.
- Increased danger from insider threats: The threat from insiders, such as disgruntled current or former employees or those who unknowingly violate information or IT security guidelines, continues to grow. This type of threat is particularly difficult to recognise because companies are limited in their choice of detection methods by data protection regulations.
- Increasing complexity of cloud security risks: As services continue to move to the cloud, the associated security risks are also becoming more complex. Securing multi-cloud environments and ensuring data integrity is becoming an increasing challenge for companies. Last but not least, security vulnerabilities due to incorrect cloud configurations continue to increase.
- More IT security vulnerabilities in web applications and mobile apps: We have been observing increasing negligence on the part of application operators to adequately secure their web applications and mobile apps for some time now. Depending on the attractiveness of the attack target – which mainly results from the processed data – companies are threatened with massive monetary losses and reputational risks.
Organisations should prepare to continuously adapt their security strategies and invest in advanced security technologies, training and best security practices to adequately address these and other evolving threats. At TEN Information Management, we can help with our comprehensive cyber security prevention expertise and services.