Data breaches and cyberattacks are on the rise. As technology continues to advance, so do the tactics of cybercriminals. In 2024, organizations must stay vigilant against emerging data security threats. Here are the top 10 data security threats I believe will be prevalent in 2024:
H1: Ransomware attacks
Ransomware will continue to be one of the biggest cybersecurity threats. As seen in recent years, ransomware attacks have increased in frequency, sophistication and impact. In 2024, I expect ransomware gangs to target critical infrastructure like healthcare, finance and energy sectors. Ransomware operators will leverage advanced tactics like double extortion and custom-made malware to maximize profits.
To defend against ransomware, organizations need to focus on cyber resilience – having effective backup systems, incident response plans and employee security training. Multi-factor authentication (MFA) and least privilege access are other key strategies.
H2: Supply chain cyber attacks
The supply chain will be a major attack vector. By compromising one vendor in the chain, adversaries can target multiple downstream companies. The SolarWinds and Kaseya attacks provided a glimpse of how devastating supply chain attacks can be.
To reduce supply chain risks, I recommend supplier due diligence, code audits of third party software and multilayered vendor risk management. The goal is to identify vulnerabilities early and minimize the blast radius of attacks.
H3: Cloud data breaches
As cloud adoption grows, cloud misconfigurations and insider threats will lead to more cloud data breaches. According to research, over 90% of cloud breaches are caused by customer misconfiguration or errors.
To secure the cloud, focus on these areas:
– Cloud configuration audits to detect misconfigured systems or storage buckets.
– Data encryption and access controls to protect sensitive data.
– Cloud security posture management to get visibility into assets, configurations and activities.
H4: Credential stuffing
Credential stuffing uses breached username/password pairs to gain unauthorized access to user accounts. With billions of credentials available on the dark web, credential stuffing will continue to threaten organizations in 2024.
Multifactor authentication (MFA) is critical in preventing credential stuffing. Other mitigations include password rotation policies, Web application firewalls (WAF) and bot detection solutions.
H5: Cryptojacking
Cryptojacking is the unauthorized use of someone else’s computing resources to mine cryptocurrency. The prevalence of crypto coins will drive more cryptojacking attempts in 2024 using malware or compromised websites.
To detect cryptojacking, monitor for unusual CPU usage and network traffic. Browser extensions that block cryptomining scripts can also help. File integrity monitoring and endpoint detection systems are useful as well.
H6: Insider threats
Organizations often focus on external threats but overlook malicious insiders. Whether due to negligence or malice, insiders can abuse access rights to compromise data.
- Implement the principle of least privilege to limit access.
- Monitor user activity for signs of misconduct.
- Have an incident response plan tailored to insider threats.
- Conduct rigorous background checks during hiring.
H7: API vulnerabilities
APIs allow apps to interface with code, data and services. But insecure APIs can expose backend systems to attackers. I anticipate API attacks to grow in scale and impact in 2024.
Here are tips for API security:
– Perform penetration testing to uncover API flaws.
– Enable API gateway solutions to enforce security policies.
– Encrypt sensitive data transmitted via APIs.
– Monitor API traffic for anomalous activity.
H8: IoT botnets
Smart home devices, wearables and industrial internet-of-things (IoT) lack built-in security. IoT botnets take advantage by infecting thousands of devices to launch DDoS attacks.
- Enforce two-factor authentication on IoT devices.
- Isolate IoT systems from other parts of the network.
- Regularly patch and update IoT firmware.
- Network monitoring to detect botnet activity.
H9: Third-party code vulnerabilities
The extensive use of third-party libraries introduces massive risk. If popular open-source components contain bugs, thousands of applications are impacted. Software composition analysis (SCA) tools are essential to identify and remediate vulnerable components. Prioritizing patches based on exploitability can help reduce risk exposure.
H10: Password spraying
Password spraying takes commonly used passwords and tries them against many user accounts. With people reusing passwords across sites, password spraying campaigns will remain a simple and effective hacking technique.
To strengthen authentication, use multi-factor authentication ubiquitously across your organization. Password managers can help users have unique complex passwords for every account. With good access controls and logging, password spray attacks can be detected early.
In summary, as technology and threats continue advancing, organizations must remain vigilant and regularly evaluate their cybersecurity posture. Building cyber resilience and following security best practices are key to tackling emerging threats. By investing in the right people, processes and technology, companies can manage cyber risks and protect their critical assets.
