The historical lessons we have learned suggest that the threat landscape in 2024 will closely resemble that of 2023, with the key difference being that cyber attacks will become even more efficient and increasingly opportunistic. Criminals, motivated by financial gain, will continue to exploit data encryption and threaten data disclosures in order to extort ransom payments. This highlights the need for robust cybersecurity measures to safeguard against evolving threats and protect valuable data assets.
Table of Contents: What awaits you in this article
The Changing Tactics of Cybercriminals: Zero-Day Exploits vs. Stolen Credentials
One of the key observations in the cybersecurity landscape is the constant evolution of criminal activities and the adaptability of cybercriminals. Year after year, we witness a continuous shift between the exploitation of zero-day vulnerabilities and the use of stolen credentials to infiltrate victims’ networks. This dynamic environment highlights the importance of staying vigilant and implementing robust security measures to defend against these ever-changing threats.
When a new vulnerability is discovered, cybercriminals are quick to exploit it, as seen recently with the Citrix Bleed vulnerability. However, once a majority of potential victim systems have been patched or compromised, attackers resort to the less efficient method of stealing login credentials. This shift in tactics highlights the adaptability of cybercriminals and their ability to exploit any available weakness in order to gain unauthorized access to systems. It is crucial for organizations to remain vigilant and prioritize regular patching and strong authentication measures to prevent unauthorized access.
With the increasing adoption of multifactor authentication by companies, cybercriminals are adapting their tactics to bypass these security measures. One such method is the theft of cookies and session cookies, which allows them to gain unauthorized access to user accounts. This is further compounded by the use of malicious proxy servers like Evilginx, social engineering attacks, and MFA fatigue attacks. The combination of these techniques creates a highly effective and sophisticated attack mix, posing a significant threat to user security.
The cybercriminal groups LAPSU$ and Scattered Spider have gained significant attention with their successful attacks on major brands in 2022 and 2023. These attacks have not only highlighted their capabilities but also served as blueprints for other criminals looking to infiltrate networks. As a result, it is likely that more criminals will be inspired to adopt similar playbooks and engage in similar activities, posing a growing threat to organizations and individuals alike.
In recent years, cyber attacks have shifted their focus towards targeting supply chains and “As-a-Service” offerings. Instead of directly attacking the intended target, attackers are exploiting vulnerabilities in business or service partners. This can be achieved through compromising Managed Service Providers (MSPs), exploiting weaknesses in file-sharing appliances, or targeting authentication providers. As organizations strengthen their own networks and adopt more “As-a-Service” models, we can expect a rise in these indirect attacks in 2024.
Limited impact of AI on cyberattacks, but discussions intensify on potential for Social Engineering
The influence of Artificial Intelligence (AI) on cyberattacks is currently limited, as the concrete implementation of AI by cybercriminals is still in its early stages. However, threat actors are actively discussing the potential of AI in social engineering. An example of this is the recent “Pig Buchtering” wave, which involves romance scams. Despite the limited impact of AI in cyberattacks, it is important to monitor its development and potential future applications in order to effectively counter emerging threats.
Currently, technology is primarily noticeable in defense through more efficient execution of existing security team tasks. AI enables better detection of anomalies in large datasets, as the machine can “see” all information at once and help direct human attention to deviations from the norm.
Governments take substantial measures to combat ransomware groups worldwide
Governments worldwide are expected to take more substantial measures to combat ransomware groups due to the increasing impact on people’s daily lives. With hospitals, schools, law firms, and banks being unable to operate during cyberattacks, the need for stronger action becomes evident. These measures aim to safeguard critical infrastructure and ensure the smooth functioning of essential services, protecting citizens from the disruptive consequences of ransomware attacks.
With the increasing impact of cyber attacks on daily life, people are demanding more effective measures to combat cybercrime. The effectiveness of these measures remains uncertain, but it would not be surprising if some countries attempt to ban ransom payments due to the high economic costs and the financial gains they provide to cybercriminals. As we reach a tipping point, it is crucial for governments and individuals to take proactive steps towards strengthening cybersecurity and preventing further damage caused by cyber attacks.
The Growing Impact of Cyberattacks: Protecting the Average Person
The increasing impact of cyber attacks on our daily lives highlights the need for systems to protect the average person without requiring them to undergo training or think about security measures. Failing to achieve this would be considered a failure. Therefore, the most pressing action required is to eliminate passwords and transition to a phishing-resistant authentication method such as passwordless keys. This would provide a more seamless and secure experience for users, minimizing the risks posed by cyber criminals.
Passkeys are a convenient and secure way for users to authenticate themselves across various digital platforms. By utilizing the biometric sensor on their mobile devices, users can easily access their email, social media accounts, and preferred online stores. This eliminates the need for complex passwords and allows for automated software updates, ensuring a seamless and worry-free online experience for the general public.
The Challenge of Security in the Digital World: IoT Devices and Low Quality
The proliferation of connected devices and the lack of security measures pose a significant challenge in the digital world. While smartphones and web browsers have made great strides in terms of protection, the same cannot be said for the Internet of Things, operational security tools, and a significant portion of enterprise software. The insufficient investment in securing the open-source software ecosystem, which serves as the foundation for our cloud services and the devices we own, exacerbates the problem.
The overall problem lies in the fact that our progress is not fast enough, and cybercriminals are outsmarting our governments and security policies. Companies worldwide underestimate their security risks and fail to invest adequately in improving their cybersecurity posture. This creates a significant gap between the agility of criminals and our ability to defend against their attacks.
The Growing Agility of Cyber Criminals: Challenges and Opportunities
The increasing agility of cyber criminals poses a major challenge, but there are also opportunities to counteract this. By improving anomaly detection and increasing the use of artificial intelligence in defense, security teams can work more efficiently. Additionally, governments are expected to take more substantial measures to combat ransomware groups. These efforts will help mitigate the threat of cyber attacks and protect individuals and organizations from potential harm. It is crucial for businesses and individuals to stay vigilant and invest in robust cybersecurity measures to stay ahead of evolving cyber threats.
The implementation of phishing-resistant authentication and securing the Internet of Things are crucial steps in ensuring the protection of everyday citizens. However, it is imperative that businesses take their security risks seriously and invest in improving their cybersecurity posture. Only by doing so can we effectively combat the increasing agility of cybercriminals and make our digital world safer.
