A breach of data last year cost $4.45 million USD on a global scale. This represents a 15% rise in just three years. It is critical to be aware of new technological threats as we enter 2024. Ones that might disturb and damage your company. 

Technology is developing quickly and both individuals and businesses are facing new opportunities and challenges because of it. Certain innovations have the potential to seriously jeopardise our online safety, privacy, and security.  

We will discuss some new technological risks in this post that you should be on the lookout for in 2024 and beyond. 

Attacks that Poison Data 

Datasets used to train AI models can be tainted, a practice known as data poisoning. Attackers can manipulate the results of algorithms by inserting malicious data. This could result in poor decisions being made in important industries like finance or healthcare. Taking certain steps is essential to fending off this sneaky threat. These include putting strong validation procedures in place and safeguarding the integrity of training data. 

AI-generated data should be used carefully by businesses. It needs to be significantly enhanced by data from other sources and human intelligence. 

5G Network Weaknesses 

The extensive use of 5G technology creates additional ways to be attacked.  

The field of attack expands as the number of connected devices rises. IoT devices that depend on 5G networks may find themselves the focus of cyberattacks. It is essential to secure these devices and put robust network protocols in place. Especially to prevent large-scale attacks. 

Make sure your company has a solid plan in place for managing mobile devices. A substantial portion of the workload is shifting to mobile. Businesses need to monitor and control how these devices access company information. 

Quantum Computational Risks 

The promise of previously unheard-of computational power, quantum computing, is not without risk. Given its enormous processing power, even the most secure encryption techniques could be broken. Hackers could use this ability to obtain confidential information. This highlights the requirement for encryption methods that are resistant to quantum errors to protect digital data. 

AI Manipulation 

Even though AI is transformative, it is manipulable. Cybercriminals may disseminate false information by using AI algorithms. They are already creating convincing deepfakes and automating phishing attacks. With the increasing sophistication of AI-driven threats, vigilance is crucial. Robust detection mechanisms are necessary to separate malicious AI-generated content from legitimate content. 

Virtual reality (VR) and augmented reality (AR) exploits 

AR and VR technologies offer immersive experiences. However, they also introduce fresh vulnerabilities. Cybercriminals may use these platforms as a means of tricking users, with potentially disastrous real-world outcomes.  

It is essential to ensure the security of AR and VR applications. Especially to prevent user manipulation and privacy breaches. This is especially true for industries like gaming, healthcare, and education. 

The Evolution of Ransomware 

Attacks using ransomware have progressed beyond basic data encryption. These days, threat actors employ double extortion. They smuggle confidential information before encrypting files. Hackers may sell or leak this data to victims if they are unwilling to pay, harming their reputation.  

Some countermeasures against this sophisticated ransomware threat consist of:  

  • Sturdy backup options 
  • Frequent cybersecurity education 
  • Proactive threat detection 

Attacks on the Supply Chain Proceed  

Attacks on the supply chain are still a constant danger. To breach more significant targets, cybercriminals compromise software providers or third-party vendors. To prevent cascading cyber incidents, supply chain cybersecurity must be strengthened. Multi-factor authentication, ongoing monitoring, and thorough vendor assessments are some ways that businesses can achieve this. 

Biometric Data Exposure 

Biometric techniques for authentication, like facial recognition and fingerprints, are becoming widely used. However, unlike passwords, users cannot alter biometric data once it has been compromised. By using secure encryption, biometric data can be protected. Verify that service providers adhere to stringent privacy laws. These are essential for stopping fraud and identity theft. 

Advanced Attacks via Phishing 

One of the most popular and established types of cyberattacks is phishing. AI is making these attacks more targeted and sophisticated. For instance, hackers tailor spear phishing assaults to a particular person or company. They base their actions on private or business information found online. 

Vishing attacks are an additional instance. These pretend to be reputable organisations by using voice calls or voice assistants. They persuade victims to do certain things in a convincing manner. 

Employee phishing training must be ongoing. in addition to automated methods for identifying and thwarting phishing attacks. 

Advice for Protecting Against These Dangers 

The threats we face change along with technology. As such, it is critical to exercise caution and initiative. The following advice may be helpful: 

  • Inform people, including yourself, about the most recent technological threats. 
  • For all online accounts, use multi-factor authentication and strong passwords. 
  • Update your devices’ software and hardware frequently to address security flaws. 
  • Refrain from opening dubious attachments or links in emails or messages. 
  • Confirm the legitimacy and identity of any caller or sender. Prior to sharing any information or acting, do this. 
  • Make frequent backups of your data to guard against data loss in the event of a cyberattack. 
  • Purchase a trustworthy cyber insurance plan. One that addresses the risks and demands unique to you. 

Do You Need Assistance Getting Your Cybersecurity Ready for 2024? 

The threats of this year may be too great for the fixes from last year. Do not jeopardise the online safety of your business. To help you understand where you stand, we can assist you with a comprehensive cybersecurity assessment.  

Contact us today to schedule a chat.