2024’s Emerging Threats You Must Watch Out For

Technology is evolving rapidly, bringing new opportunities and challenges for businesses and individuals alike. Not all technology is benign. Some innovations can threaten our digital security, privacy, and safety. 

According to IBM, last year's global data breach cost was USD 4.45 million. This is an increase of 15% over three years. As we enter 2024, we must be aware of emerging technology threats, particularly ones that could disrupt and harm your business. So, what’s threatening our sweet start to 2024?
These for a start 👇👇👇

Data Poisoning Attacks

Data poisoning involves corrupting datasets that train AI models by injecting malicious data; attackers can skew algorithms' outcomes. This could lead to incorrect decisions in critical sectors like healthcare, finance or design-based industries. Some actions are vital in countering this insidious threat, including protecting training data integrity and implementing robust validation mechanisms.

Businesses should use AI-generated data cautiously and heavily augmented by human intelligence and data from other sources.

5G Network Vulnerabilities

The widespread adoption of 5G technology introduces new attack surfaces. With an increased number of connected devices, the attack vector broadens. Reliant on 5G networks, Internet of Things (IoT) devices might become cyberattack targets; think Google Home Voice Controller, Amazon Echo Plus, etc. Securing these devices and implementing robust network protocols is imperative to prevent large-scale attacks.

Ensure your business has a robust mobile device management strategy. Mobile is taking over much of the workload; tracking and managing how these devices access business data is imperative. 

Artificial Intelligence (AI) Manipulation

AI, while transformative, can be manipulated. Cybercriminals might exploit AI algorithms to spread misinformation. They are already creating convincing deepfakes and automating phishing attacks, so vigilance is essential as AI-driven threats become more sophisticated. It demands robust detection mechanisms to discern genuine from malicious AI-generated content.

Augmented Reality (AR) and Virtual Reality (VR) Exploits

AR and VR technologies offer immersive experiences. But they also present new vulnerabilities. Cybercriminals might exploit these platforms to deceive users, leading to real-world consequences. 

Ensuring the security of AR and VR applications you use in your Practice to demonstrate your designs is crucial to prevent user manipulation and privacy breaches. 

Ransomware Evolves

Ransomware attacks have evolved beyond simple data encryption. Threat actors now use double extortion tactics. They steal sensitive data before encrypting files, and hackers leak or sell this data if victims refuse to pay, causing reputational damage.  Think of Client information or your intellectual property like your Practice's detailed designs; this is like a catnip to a hacker!

Some defences against this evolved ransomware threat include:

• Robust backup solutions

• Regular cybersecurity training

• Proactive threat hunting 

Supply Chain Attacks Persist

Supply chain attacks remain a persistent threat. Cybercriminals infiltrate third-party vendors or software providers to compromise larger targets. Strengthening supply chain cybersecurity is critical in preventing cascading cyber incidents. Practices can do this through rigorous vendor assessments, multi-factor authentication, and continuous monitoring.

Biometric Data Vulnerability

Biometric authentication methods, such as fingerprints or facial recognition, are commonplace. But users can't change biometric data once compromised like they can passwords. Protect biometric data through secure encryption. Ensure that service providers follow strict privacy regulations. These are paramount to preventing identity theft and fraud.

Advanced Phishing Attacks

Phishing attacks are one of the oldest and most common forms of cyberattacks. These attacks are becoming more sophisticated and targeted thanks to AI. For example, hackers customise spear phishing attacks to a specific individual or organisation. They do this based on online personal or professional information.

Another example is vishing attacks. These use voice calls or voice assistants to impersonate legitimate entities, perhaps even clients! They convincingly persuade victims to take specific actions.

Ongoing employee phishing training is vital. As well as automated solutions to detect and defend against phishing threats.

Tips for Defending Against These Threats

As technology evolves, so do the threats that we face. Thus, it's essential 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.

• 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 a cyberattack.

• Invest in a reliable cyber insurance policy covering your specific needs and risks.

• Report any suspicious or malicious activity to the relevant authorities.

A one-off check not carefully monitored for effectiveness and relevance is no good; you may need to go further than last year's solutions to protect against this year's threats. We can help you with a thorough cybersecurity assessment plan to remain safe. Let’s talk!

Article used with permission from The Technology Press.