The Most Dangerous Cyber Attacks to Look Out for in 2024
The global cost of a data breach last year was USD $4.45 million. This is an increase of 15% over three years. As we step into 2024, it’s crucial to be aware of emerging technology threats. Ones that could potentially disrupt and harm your business.
Technology is evolving at a rapid pace. It’s bringing new opportunities and challenges for businesses and individuals alike. Not all technology is benign. Some innovations can pose serious threats to our digital security, privacy, and safety.
Take a look at we highlight what dangerous cyber attacks we think will arise in 2024.
5G Network Vulnerabilities
This is a cyber attack we expected to see a lot in 2023. The widespread adoption of 5G technology introduces new attack surfaces. With an increased number of connected devices, the attack vector broadens. IoT devices, reliant on 5G networks, might become targets for cyberattacks. Securing these devices and implementing strong network protocols is imperative. Especially to prevent large-scale attacks.
Ensure your business has a robust mobile device management strategy. Mobile is taking over much of the workload Organisations should properly track and manage how these devices access business data.
Ransomware Evolves
Ransomware attacks have evolved beyond simple data encryption. Threat actors now use double extortion tactics. They steal sensitive data before encrypting files. If victims refuse to pay, hackers leak or sell this data, causing reputational damage.
Some defences against this evolved ransomware threat include:
• Robust backup solutions
• Regular cybersecurity training
• Proactive threat hunting
The Rise of Artificial Intelligence (AI)
2023 saw the incredible rise of AI technology. The importance of artificial intelligence has grew significantly and it’s becoming a huge part of most peoples’ everyday lives.
However, as with any powerful tool, there is a darker side to its potential use. We’ve already seen multiple ways hackers are using AI technology to their advantage.
Hackers have traditionally relied on manual processes to identify system vulnerabilities and exploit them. However, AI-powered tools now enable cybercriminals to automate this process, scanning vast networks for weaknesses and potential entry points.
By leveraging machine learning algorithms, attackers can quickly and efficiently identify vulnerabilities, drastically reducing the time and effort required to initiate an attack.
Phishing attacks have long been a popular method for hackers to deceive unsuspecting users and gain unauthorised access to sensitive information.
AI algorithms can significantly enhance the effectiveness of these attacks by analysing vast amounts of personal data from various sources, such as social media platforms. This enables hackers to craft highly personalised and convincing phishing emails, making them extremely difficult to detect even by vigilant users.
AI-powered intrusion detection systems are designed to identify and block malicious activities.
However, hackers can use AI to generate attack patterns that mimic legitimate user behaviour, effectively evading detection by IDS and making it harder for security systems to differentiate between legitimate and malicious activities.
Password cracking is a common technique used by hackers to gain unauthorised access to user accounts. By leveraging machine learning algorithms, hackers can train models to analyse patterns and predict passwords more effectively, increasing the success rate of brute force or dictionary attacks.
This will also significantly decrease the time it takes to crack someone’s password, meaning less time to catch the hackers out before it’s too late.
Smishing and Mobile Device Attacks
Smishing is an attack that you’ll most likely come across this year.
SMS Phishing has actually been a threat for a long time and the only way you can avoid it is to be educated about this scam.
Smishing (SMS Phishing) is when a hacker sends out fake text messages to unsuspecting people, with the target of making them click a fake link and input their personal information or even payment/bank details.
Session Hijacking
Whenever you log into an account that has MFA enabled, usually you’ll be sent a “session token” which is like a secret code which you must input in order to complete your sign in.
Hackers are starting to try and intercept that key as it travels to your device and once they have that key, they can access your account and do whatever they like with it, such as steal your personal information.
it’s important to log into websites that use HTTPS to encrypt data transmitted between the user’s browser and the server in order to help reduce the risk of having your session hijacked.
Browser Password Theft
If you’re saving passwords and other personal information in your browser, whether it’s Chrome or Edge, you need to stop.
Hackers are able to steal your data that’s saved in your browser within seconds using a little device called a Rubber Ducky USB.
Take a look at another one of our blogs where we talk about how dangerous it is to store passwords in your browser, and to see exactly how hackers can steal them.
How Can You Defend Against These Attacks?
As technology evolves, so do the threats that we face. Thus, it’s important to be vigilant and proactive. Here are some tips that can help:
- Educate yourself and others about the latest technology threats.
- Use strong passwords and multi-factor authentication for all online accounts.
- Store all your passwords in a secure password manager
- Update your software and devices regularly to fix any security vulnerabilities.
- Avoid clicking on suspicious links or attachments in emails or messages.
- Verify the identity and legitimacy of any callers or senders. Do this before providing any information or taking any actions.
- Back up your data regularly to prevent data loss in case of a cyberattack.
- Invest in a reliable cyber insurance policy. One that covers your specific needs and risks.
- Report any suspicious or malicious activity to the relevant authorities.
