Cyber security is an ever-evolving landscape. It’s crucial to remain on top of developments and trends in order to stay ahead within what is an increasingly challenging situation.
For businesses to truly stay on top of cybersecurity advances, it’s important to both reflect on trends and changes that have occurred, as well as looking ahead to the future, and what fresh challenges might emerge. So, let’s take a look back at the cyber security trends that dominated 2023, as well as what’s in store for 2024.
Cyber security trends: what happened in 2023?
Phishing remained the most common type of cyber attack in 2023. In fact, research has shown that nine out of 10 breach attempts started with phishing, and both the volume and strength of phishing attacks grew in 2023.
2. AI-enabled attacks
The growth of artificial intelligence (AI) technology has had a significant impact within the realm of cyber crime over the past year, with criminals using AI to conduct ever more complex and sophisticated attacks. Social engineering using well written English language fooled unsuspecting victims now that threat actors have free tools to generate well formatted and professional sounding emails in seconds.
3. DNS Hijacking
DNS Hijacking involves a threat actor redirecting a victims website traffic through rogue and malicious servers, which host identical looking but dangerous copies of known websites to collect credentials or bank details, that are then later used or sold on the Dark Web.
Cyber security trends: what’s in store for 2024?
1. Privacy-first priorities
Companies with the ability to protect consumer privacy and data will gain an advantage within the business landscape of 2024.
Stricter data privacy rules will favour those using defence measures such as encryption and pseudonymisation, as well as those who are open and proactive in the way they handle data.
2. Cyber risk quantification
The ability to quantify cyber risk and use that data to inform and direct decision-making will grow in importance over the coming year.
Being able to accurately measure and assess the risk of a cyber attack and put this information to strategic use will help provide valuable insights into security investment and direction.
3. Better threat detection
While AI will help cyber threats to become more complex and targeted, it will also help improve threat detection, investigation and response in 2024.
New technologies will be used to identify threats more quickly, and respond more effectively. It means cyber defences and response plans will grow in sophistication, just as the threats themselves become more refined.
4. People-first security strategy
The role and power of people in preventing and mitigating cyber attacks is growing. And over the next year, humans will become more critical than ever, with organisations focusing as much on user education as they do on technology to contribute to security defence strategy.
This approach positions humans as a key line of defence, and also aims to make security solutions more user-friendly, with less space for human error.
5. Greater engagement from business leaders
The world of cyber security will no longer remain solely the concern of specialist professionals. The growing importance of cyber security programmes is being recognised more widely, and the success of these measures will demand more and more involvement from board members and directors, as organisations strive to stay ahead of the game.
To help your business develop a cyber security strategy suitable for 2024 and beyond, contact Hive Communications today.