Tech Trends in Cyber Security 2024

Governments, organizations, and IT security specialists must constantly look for new methods to control or counter the danger of cyber security attacks in 2023. As the frequency and damages from cyber-attacks increase, organizations must stay vigilant. It is critical for businesses to take preemptive measures when creating and planning their security programs. The following are examples of cyber security trends that cyber security companies around the world report:

Ransomware

Every year, ransomware assaults reach unprecedented heights. According to its annual Internet Crime Report in 2020, the FBI received over 2,500 ransomware reports. This was a 20% increase over the previous year’s figures. If incidents that garnered media attention are any indication, 2021 will continue on this path – from blocking a crucial pipeline to impeding operations at a major insurer. The average cost of a ransomware assault on a firm is $133,000 dollars. The assaults are exacerbated by ever-increasing ransom demands, which corporations are willing to pay in order to avoid long-term interruption. The payments have infuriated policymakers and politicians, while also emboldening ransomware demands in the future.

IoT Security

The internet of things, sometimes known as IoT, is a network of internet-connected items that collect and share data. The number of IoT devices being put into networks is rapidly increasing, with up to 1 million devices being linked every day. In 2021, there will be more than 10 billion active IoT devices, with the total number estimated to reach 25.4 billion by 2030. IoT devices have a number of security issues, and as their popularity rises, so does the possibility of cyber-attacks and cybercriminal assaults. As a result, IoT security is more crucial than ever before. While IoT solutions enable new and exciting methods to increase efficiency, flexibility, and productivity, they also introduce a new network risk. IoT devices, which are frequently constructed without security measures in place, have become a new vector for bad actors to utilize in their assaults.

Remote Work Cybersecurity

Remote work and hybrid work are now commonplace in today’s world. Millions of employees began working remotely after the Covid-19 pandemic and now continue to work either from home or in a hybrid setting. Most of these individuals worked in an office before the pandemic and relied on either an in-house IT Security team or worked with an outside managed security provider. This meant that video meetings, emails, document management, and instant messaging were all routed via a single point of security within the workplace. Because of the disbursed structure of the internet and the ability to attack targets outside of their jurisdiction, cybercrime is a valuable industry that continues to develop, making it challenging to fight. According to the study, more than half of remote workers use personal devices to access corporate data, and 71% of security directors lack insight into remote employee home networks, resulting in a substantial percentage of cyber assaults targeting remote workers.

Data Breaches

In the first half of 2019, 3,813 data breaches were recorded, impacting over 4.1 billion records. Statistics on data breaches reveal that hackers are smart and driven by financial and personal data incentives. According to recent research by IBM and the Ponemon Institute, data breaches cost an average of over $4 million worldwide. While the first thing that comes to mind when you hear the words “data breach” is a scenario involving cybercriminals and sophisticated cyber assaults. Other typical causes include irresponsible disposal of computer equipment, human mistake, or poorly configured backend controls if your organization works with such as PHI, protected health information, credit card data, and other sensitive information.

Organizations must use a number of security measures to secure dispersed devices now that teams are working from all over the world. As remote work grew more widespread, the average cost of a data breach soared by $137,000. You might be surprised to discover that Google had to filter nearly 18 million phishing emails and malware every single day during the Covid-19 outbreak. In the United States, 81% of cyber security specialists say that their day-to-day job has changed drastically. Companies that are currently using digital channels due to the pandemic are likely to continue doing so in the future.