Insight into 2024: 5 Noteworthy Cybersecurity Trends to Follow

In the realm of cybersecurity in 2024, we are witnessing a shift towards an era marked by the influence of sophisticated AI tools and sophisticated social engineering tactics, particularly heightened during election years. 

To mitigate potential cyber threats, it is imperative for businesses, governments, and individuals to comprehend and adapt to these evolving trends.

Top 5 Cybersecurity Trends

Disinformation in Elections

During election years, the landscape becomes conducive to social engineering and disinformation campaigns, with 2024 anticipated to be no different. 

The escalation of political tensions corresponds to increased endeavors to manipulate public opinion and subvert democratic processes.

Cybercriminals adeptly exploit societal rifts, employing sophisticated social engineering tactics to disseminate false information. 

The FBI has previously cautioned against cybercrimes targeting election officials during prior election cycles.

The significant financial losses of $10.3 billion incurred by Americans in 2022 due to online scams underscore the necessity for ongoing training in employee security awareness..

Cybersecurity AI

In 2024, the role of AI in cybersecurity is poised to broaden, encompassing automated responses and predictive analytics. 

The emphasis is on proactively taking preventive measures, utilizing AI to anticipate forthcoming cyber threats through the analysis of historical data and current trends.

The integration of AI into cybersecurity applications holds the potential to enhance threat detection and incident response. 

For example, AI can discern anomalies or deviations indicative of potential security threats, even those that are previously unseen.

Given the increasing sophistication of cyberattacks, AI’s capacity to analyze vast datasets and recognize patterns becomes crucial. 

Ransomware Attacks

In 2024, ransomware continues to pose a significant threat, characterized by escalating complexity in tactics and heightened aggressiveness in negotiations. 

Cybersecurity Ventures forecasts global damages from cybercrime to surpass $10.5 trillion by 2025, underscoring the urgency of proactive measures.

To counteract this alarming trend, organizations must implement robust backup strategies, provide comprehensive employee training, invest in cyber insurance, develop negotiation expertise, and establish well-defined incident response plans. 

Adopting practices akin to those employed by external threat hunters, such as penetration testing, validating network integrity, detecting unauthorized activity, and monitoring for suspicious behavior, can enhance an organization’s cybersecurity posture.

Data Privacy Act

The evolution of data privacy regulations, initiated by the General Data Protection Regulation (GDPR) in the European Union and followed by the California Consumer Privacy Act (CCPA), has set the stage for the introduction of a comprehensive national data privacy law in the United States, known as the American Data Privacy and Protection Act.

As five states implement their privacy acts in 2024 and the financial consequences of data breaches average around $4.45 million for companies, the need for enacting a unified national data privacy standard has become increasingly critical.

Cannabis Retail Cybersecurity Threats

The expanding cannabis industry, particularly in the retail sector, faces an increasing risk of cyberattacks during its digital transformation. 

Pending legislation in Congress, allowing banks and credit card services to accept electronic payments from cannabis businesses, significantly reduces the vulnerability of point-of-sale (PoS) systems to potential data breaches.

Given the industry’s early adoption of digital technologies and the inherent risks of human error and complacency, it becomes an attractive target for cybercriminals. 

In response to the industry’s rapid growth, referred to as the “green rush,” retail dispensaries must prioritize cybersecurity to protect both client data and financial transactions, acknowledging the heightened attention from threat actors in the sector.