As the number of high-profile cyber security incidents continues to rise, businesses want to understand what to expect in the coming year.
With widespread data breaches and ransomware attacks causing disruption and loss, businesses want to understand how the threat landscape will evolve and what protections they should have in place.
Some of the key security trends found by iFreshBriefs that will shape the coming 12 months include:
1. The cyber skills gap will remain:
The persistent shortage of cybersecurity talent will continue to be a concern throughout 2024. Addressing this gap will require a multi-pronged approach with an emphasis on deploying modern technologies that prioritize usability, training, education, and fostering global partnerships to develop the next generation of cyber professionals.
2. AM attacks will continue:
High-profile attacks against platforms like Okta underscore the complexity of identity and access management (IAM) in cloud-dominated environments. Companies must prioritize understanding the complexities of IAM to ensure a robust security posture. It’s a reminder that even with advances in cloud security, fundamental principles like IAM can’t be overlooked.
3. Expect an increase in repeatedly stolen access tokens
Following the Okta incident, a worrying new trend is likely to emerge – repeated attacks aimed at stealing access tokens. These incidents underscore the value attackers place on such tokens and raise questions about how companies protect these key access points.
A double reaction is likely to occur during 2024. First, businesses are likely to invest more in securing these tokens, making them less vulnerable to hacking. Second, there will be a shift towards innovative solutions beyond the traditional token-based approach, possibly introducing newer, more secure authentication methods.
4. Attackers will adapt as more enterprises pursue cloud-first strategies:
Businesses will continue to migrate en masse to cloud platforms and cybercriminals will follow suit. The next 12 months will see an increase in sophisticated cyber attacks targeting cloud infrastructure.
Data will continue to be recognized as an invaluable asset of the highest importance, so attackers will change tactics to adapt as businesses move to a cloud-based approach – especially as they migrate their data to cloud platforms. Their primary motivation is the amount of sensitive data they can gain from successful breaches.
5. The widespread lack of cloud logging Security Protocol will remain a hot topic:
Over the coming year, further controversy is likely to arise over the lack of detection and investigation available to respond to high-profile state-sponsored cyberattacks. These logs, critical to security analysis, can lead organizations to pay significant sums for access. The importance of such protocols has been demonstrated in past incidents, and cyber adversaries are expected to exploit similar vulnerabilities, forcing organizations to invest more in their cyber defenses.
6. Increased focus on incident reporting and forensics
There is a clear need for deeper forensic analysis, especially as the number and scope of reported incidents increase worldwide. Indeed, the complexity of modern cyberattacks targeting cloud technologies increases the need for forensic capabilities that can help security appropriately manage risks across next-generation services, including containers and serverless resources. There is also the speed factor. When it comes to the incident reporting mandate, security teams need tools that enable rapid investigation.
7. Expect stricter legislation and regulation:
Regulators are likely to introduce stricter cyber regulations as incidents increasingly affect stock markets and investor sentiment. These forthcoming regulations address the increasing cyber challenges that have financial and societal implications. Tighter supervision and guidelines are expected to emerge to protect investors’ interests and ensure market stability.
8. Regulated industries will increase cloud adoption:
Throughout 2024, mature industries that operate under strict regulatory standards will make significant strides in cloud adoption. These industries—historically known for being wary of the high stakes associated with breaches and data security—recognize the benefits of cloud infrastructure.
From healthcare to finance, regulated industries are looking for the agility, scalability, and efficiency that cloud solutions offer. However, with this transition comes an urgent need for specialized cloud security measures. Since sensitive and proprietary data is stored in these sectors, ensuring its security while taking advantage of the benefits of the cloud will be paramount.
This development not only underscores the confidence that is placed in advanced cloud security solutions but also highlights the need for continuous innovation in this area to meet the specific requirements of highly regulated industries.
9. Expect more intelligence sharing:
The Five Eyes Alliance united the international message of the domestic geopolitical future and education. They are coming out publicly that they have common enemies of nation states for industry and other governments to help solve this problem. The unified message of the Five Eyes intelligence alliance underscores the importance of international cooperation.
As cyber threats become more complex, states are likely to make more public statements, join forces to mitigate risks, and share intelligence. The number of these joint global initiatives will only grow, expanding from security intelligence alliances to highly focused security intelligence agencies working together to bring down more bad actors.
When it comes to achieving effective cyber security, it’s clear that the coming year will be challenging for organizations of all sizes. New threats need to be understood and measures put in place to protect against them. Organizations will realize that responding in the cloud is not so straightforward, and others will seek answers on how to triage and investigate detection and its potential risk to the business.
By taking the time to understand the evolving threat landscape and the portfolio of protections available, organizations can best withstand attacks and avoid disruptions and losses.