We all are probably busy with the planning of New Year’s celebrations. Likewise, cybercriminals are also busy; planning to launch a new stream of attacks. Predictions, although hard to make, are paramount for all cybersecurity professionals. Knowing which threats are on the horizon makes you forewarned and forearmed to defend them.
Here is the list of cyber threats that may shake cyberspace in 2024.
Storm of Artificial Intelligence (AI)
Given the popularity of AI, it will most likely be used for wicked purposes in 2024. Artificial intelligence can help hackers in many ways. For instance, it can seamlessly help threat actors write scripts for Windows, Linux or macOS at a larger scale and a lightning speed.
In order to streamline operations, businesses will adopt different AI tools. Some of these tools may easily be maneuvered by scammers to steal business data and make a profit by selling it.
“Our reliance on AI for cybersecurity is undeniable, but as AI evolves so will the strategies of our adversaries. In the coming year, we must innovate faster than the threats we face to stay one step ahead” – Sergey Shykevich, Threat Intelligence Group Manager at Check Point Software Technologies.
It costs an arm and a leg to run the massive generative AI models. Hence, many Artificial Intelligence firms host their AI models on the cloud which presents a lucrative opportunity to the hackers. In 2024, hackers will focus on establishing GPU farms in the cloud to capitalize on AI activities. GPU farming is set to be the latest target (just like crypto mining was a few years ago) in the realm of cloud-based cyberattacks in the next year.
We have already seen some major instances of deepfake videos that created massive controversy in 2023. In 2024, deepfakes will be weaponized to create content that can alter stock prices, influence ideas or defame influencers or celebrities. Hackers will also make use of deepfake videos to launch social engineering attacks and gain access to sensitive data or permissions.
Vulnerability of Biometric Authentication
Over the last few years, biometrics has had a successful run in the cybersecurity infrastructure. However, hackers are quickly learning new ways to bypass the biometric authentication process. A recent instance has surfaced on the dark web where instructions are being provided on how to bypass selfie verification. In 2024, this will definitely be one of the prime targets of cybercriminals.
Phishing and Ransomware will continue to plague businesses
Phishing attacks will be harder to detect with personalized emails and improved spelling & grammar. Targets will be more easily convinced to click on a malicious link or attachment. In 2024, phishing attacks will intensify originating from credential theft rather than vulnerability exploitation.
Ransomware is also likely to surge despite the enhanced defense mechanism by organizations. Heavy reliance on SaaS platforms acts as a catalyst for such ransomware attacks posing sensitive data at risk.
“The use of artificial intelligence by ransomware attackers will become more advanced, requiring organizations to not only focus on preventing attacks but also enhancing their incident response and recovery plans to mitigate the potential impact. As attacks become more sophisticated, organizations need to evolve their approach to security to stay ahead of the game.” – said Daniel Wiley, Head of Threat Management and Chief Security Advisor, Infinity Global Services at Check Point Software Technologies.