13 Top Strategic Cyber Security Trends to Watch Out For in 2024

As we're going into 2024, the cyber security landscape continues to evolve rapidly, bringing along many new challenges and threats.

Cybercriminals are becoming increasingly sophisticated in their tactics, leveraging advanced technologies and exploiting vulnerabilities in digital systems.

Some of the trending cyber security threats of 2024 are QR code phishing, AI powered attacks, ransomware, multi-vector cyber attacks, supply chain threats, 5G and IoT security challenges, cloud jacking, deepfakes & disinformation and insider threats. 

What are cybersecurity trends?

In simple terms, cybersecurity trends in 2024 are the process of protecting data from unethical means like hackers with the help of the latest technology advancements like Ransomware-as-a-Service (RaaS), AI & Automation, Cloud Security, Cyber Threat Intelligence, Internet of Things (IoT) etc.

Moreover, the rise of technology has given us access to more data than ever before.

But with greater convenience comes an increased risk of cyberattacks and other security threats. It's important to stay informed about the latest cybersecurity trends to keep up with this growing threat.

What are the cybersecurity trends of 2024?

In this article, we have added a list of cyber security technologies which are a must to watch out for 2024.

Let's explore the top strategic cybersecurity trends and cyber offender tactics.

1. Ransomware-as-a-Service (RaaS)

Ransomware attacks have increased in recent years, where cyber criminals encrypt a victim's data and demand a ransom for its release.

In 2024, we can expect the emergence of Ransomware-as-a-Service (RaaS) platforms to become more prevalent.

Moreover, to protect yourself against RaaS threats, it is essential to practice good cyber hygiene and create a robust security strategy.

As we move into the next few years, these practices will become even more critical as RaaS is predicted to become one of the top cybersecurity trends in 2024.

2. AI-Powered Attacks

Artificial Intelligence (AI) has become an essential tool for businesses and individuals alike as the powerful cybersecurity trends in 2024.

However, cybercriminals are also looking to harness the power of AI to develop more sophisticated attacks.

In 2024, we expect to see a rise in AI-powered attacks that bypass traditional security measures.

For example, AI can generate realistic phishing emails that can easily deceive users or create malware that can adapt its behaviour to avoid detection by security software.

3. Supply Chain Attacks

Supply chain attacks target third-party vendors and service providers to gain access to their customer’s systems and data. As businesses increasingly rely on a network of suppliers and partners, the risk of a supply chain attack grows.

In 2024, we can expect to see more supply chain attacks as cyber criminals seek to exploit the weakest link in an organisation’s security chain.

In addition, businesses must assess the security posture of their partners and implement strong access controls to minimise the risk of a supply chain attack.

4. Deepfakes and Disinformation

Deepfakes, or AI-generated synthetic media, have already made headlines for their potential to spread disinformation and deceive the public.

In 2024, in terms of cyber security trends, we can expect cyber criminals to use deepfakes for malicious purposes, such as creating fake video or audio content to manipulate stock prices or influence public opinion.

Additionally, deepfakes can be used in spear-phishing campaigns to impersonate executives or other high-profile individuals to deceive employees into revealing sensitive information or transferring funds.

5. Cloud Jacking

As organisations continue to shift their data and infrastructure to the cloud, it becomes an even more attractive target for cyber criminals.

Cloud jacking involves gaining unauthorised access to a company's cloud infrastructure and exploiting it for financial gain or to launch further attacks.

6. Insider Threats

Insider threats are not a new phenomenon, but they continue to be a significant concern for organisations.

As remote work becomes more prevalent, it may be more challenging to detect and prevent insider threats, particularly as employees have access to sensitive information and systems from home.

In 2024, organisations must prioritise monitoring and securing their internal networks and training their employees to recognise and report suspicious activities and cyber threats.

7. 5G and IoT Security Challenges

The widespread adoption of 5G technology will lead to a massive increase in the number of connected devices, making the Internet of Things (IoT) an even more significant part of our daily lives.

While the convenience and efficiency of IoT devices are undeniable, they also present a new frontier for cybercriminals.

As 5G networks roll out, expect to see an uptick in attacks targeting the vulnerabilities of IoT devices and the potential for large-scale, coordinated attacks on critical infrastructure.

8. Cyber Threat Intelligence

Cyber threat intelligence is an essential concept for businesses to consider when it comes to cybersecurity. It is the process of analysing existing threats and identifying potential risks in the future.

In addition, cyber-terrorists continuously devise new ways to exploit vulnerabilities in business systems, which means that regular threat analysis is necessary.

Threat intelligence is a valuable tool to aid in this process – identifying common attacks and providing options to prevent them from happening.

9. Cloud Security

Today, cloud computing has gained a significant foothold in the business world, providing an array of benefits. However, it also poses its unique cyber security risks.

Moreover, cloud security service is becoming more important because of increasing mobility trends, remote work, and outsourcing.

Furthermore, as businesses migrate more data to the cloud, it's increasingly important to have a comprehensive cyber security strategy in place to protect the data from breaches.

10. Cyber-insurance

Cyber insurance is a new step in the world of cyber threat landscape, a type of insurance that businesses can purchase that provides coverage for losses incurred due to cyber-attacks.

Furthermore, cyber-insurance provisions often include protection from data breaches, cyber extortion, and employee error, among other things.

With the growing number of attacks on businesses, cyber insurance is becoming essential for any business with an online presence.

11. AI and Automation

The growth of Artificial Intelligence (AI) and the automation of tasks is making cyber security more manageable and easier.

However, with the newfound ease of AI-powered security mechanisms, hackers are also using AI to infiltrate vulnerable networks.

The use of AI and machine learning is an essential trend that businesses must keep in mind when it comes to cyber risks.

12. The Internet of Things (IoT)

The next cybersecurity trends of 2024 are the Internet of Things (IoT). It is a term that refers to the connection of physical devices and objects within the digital world.

It's a rapidly growing trend, encompassing wearable tech, medical devices, fridges, and thermostats – among others. It is most vulnerable to cyber-attacks as it typically lacks the traditional security infrastructure of firewalls and antivirus software.

With its continued growth, understanding vulnerabilities and secure programming practices become increasingly important for businesses.

13. Multi-Factor Authentication (MFA)

Multi-factor authentication (MFA) is an essential cybersecurity in 2024 that can help protect your accounts from being hacked.

Moreover, MFA takes the standard username and password login process one step further by requiring two or more pieces of evidence—called factors—to authenticate a user’s identity, commonly observed in email security.

In addition, not only can it help prevent hacking and other malicious activities, but it also offers peace of mind that your data remains safe and secure.

Also, MFA ensures the safety of your valuable information and you can also combine MFA with Single Sign On to secure identity and boost production.

Source: IBM Technology

What are the types of Cyber Security trends?

Cyber Security trends fall into three different categories:

1.     Technical trends

Technical cybersecurity refer to the latest technological advancements that are used to strengthen IT systems and networks.

2.     Process-oriented trends

Process-oriented cybersecurity focus on the development of processes and policies that ensure data is properly managed and secured.

3.     User-based trends

User-based cybersecurity involve educating users about the importance of cyber security and what they can do to keep their data safe.

What will the future cyber security trends be for 2024?

The future of cybersecurity looks bright, with several exciting trends on the horizon. Here are just a few predictions for 2024:

• Increased Automation & Artificial Intelligence
• Improved Collaboration & Cyber Security Analytics
• The Rise of Machine Learning
• Cloud Security Gets a Boost
• Greater Focus on User Education & Awareness

What are the predictions for cyber security in 2024?

As cyber criminals continue to adapt and refine their tactics, businesses and individuals must remain vigilant in protecting their digital assets.

By staying informed about the newest cyber trends of 2024 and implementing robust security measures, we can minimise the risk of falling victim to these emerging threats.

Finally, it’s important to remember that cyber attackers are continuously coming up with new ways to exploit vulnerabilities, emphasising the importance of constant vigilance in the face of cybersecurity threats.

How to keep your business safe in 2024?

Organisations must stay informed about the latest cyber threats in order to protect themselves.

Here are some tips for keeping your business safe in 2024:

1. Use Multi-Factor authentication (MFA)

MFA requires users to enter two or more pieces of information when logging into an account, such as a combination of passwords and biometric identification. Implementing this will ensure the highest level of security for your business.

2. Update your software

Outdated software can be a major security risk, as malicious hackers may use vulnerabilities in older versions to gain access. Make sure all your systems are running the latest version of their respective software.

3. Invest in cybersecurity solutions

Consider investing in several different cybersecurity solutions, such as malware scanners and firewalls, which can help protect against various threats.

4. Educate yourself and your employees on cyber safety

Encourage everyone at your business to stay updated with current best practices in cybersecurity and data protection. This includes protecting passwords, avoiding clicking on suspicious links and emails, using secure Wi-Fi, and more.

5. Monitor your systems

Keep an eye on all your business's networks and systems for any suspicious activity or unusual network traffic. If you notice anything, investigate further to ensure that it is not a cyber-attack.

By following these tips, you can ensure that your business is safe from data breaches and other security risks in 2024.