Introduction
As the curtains close for year 2023, the financial impact of cyberattacks on the global economy is predicted to reach $10.5 trillion. It is imperative for IT managers to be aware of the evolving landscape. Let’s see what will shape the cybersecurity arena in the coming year. From a data-centric perspective, we have identified 7 trends that will be important for data security.
- Zero Trust Cybersecurity – The Zero Trust model has gained significant attention in recent years. The Zero Trust principle assumes that there is no perimeter or enclave within which network activity can be completely safe. In 2024, the Zero Trust paradigm will become more adaptive and holistic, facilitated by AI-powered continuous authentication and activity monitoring.
- Multi-Factor Authentication (MFA) – Multi-Factor authentication is now a standard for securing data. MFA adds an extra layer of security by requiring users to provide multiple forms of identification. By 2024, MFA is set to become a non-negotiable security practice for businesses. There will be a rise in MFA adoption as businesses prioritize safeguarding their sensitive information.
- Ransomware on the rise -Another growing risk that one cannot ignore is Ransomware. While in the past Ransomware has employed disruptive network attacks, in 2024 we expect to see a shift in the attack purpose to that of capturing as well as blocking valuable information. Extortionists will threaten to sell exploitable data. such as enterprise vulnerabilities, identities, and authentications. Business data, including financials, product data and sales records could also be ransomed.
- Automation and Integration -With business data multiplying so rapidly there already is a shift towards AI and automation. Efficiencies will be gained with automation, but security should not be neglected in haste. Sophisticated automation drives the necessity for rigorous and designed-in security.
- Cybersecurity Regulation -Governments and organizations are increasingly aware of the risks posed by cyber threats to national security and economic growth. The US Department of Defence's Cybersecurity Maturity Model Certification (CMMC) review concluded on November 21, 2023, and the regulations are now under public review. CMMC certification is mandatory for all businesses contracting with the Department of Defence. Similarly, as of October 17, 2024, the EU’s mandatory cybersecurity, NIS2 will be implemented and mandate EU member states to adopt and rigorously enforce stricter cybersecurity regulations.
- Cyber Resilience - The terms Cyber Security and Cyber Resilience are used interchangeably. However, while cyber security aims at preventing attacks, cyber resilience measures are designed to ensure continuity of operations even in the wake of a successful breach. In 2024, we will see more organizations moving towards cyber resilience.
- Insider Threats and Deep Fakes -While external threats most often hit the headlines it is the insider threats that are a growing concern for businesses. In 2024, organizations will shift their focus on enhancing their monitoring and detection capabilities to identify insider threats. Deep Fakes are one of the fastest-growing cybersecurity trends where social engineering tactics are used to impersonate privileged personnel. Businesses need to invest in deep fake detection tools to protect their data integrity.
Conclusion
Cybercriminals are constantly changing their tactics and techniques to exploit more vulnerabilities. Businesses need to be vigilant protecting their systems and data. Gearing up to protect your precious data is the call of the hour. We at SECUDE have been in the data protection industry for more than two decades.
Please contact us to learn more about how we can help secure your CAD/SAP data. contact@secude.com
References
The 10 Biggest Cyber Security Trends In 2024 Everyone Must Be Ready For Now
Top 20 Cybersecurity Trends to Watch Out for in 2024
