The global economy is at risk of cyber attacks surpassing $10.5 trillion by the end of next year. This staggering amount serves as a wake-up call for individuals, organizations, and governments to prioritize cyber security strategically. Technological progress can bring both benefit and harm, everything depends only on the hands in which certain tools are located.

To improve business security, it is important to understand the risks and threats faced by the majority in the market. We will look at cybersecurity threats and how they can be countered in 2024.

1. AI

With an alarmingly rapid increase in AI sophistication, the occurrence of smart and sophisticated AI-driven attacks is on the rise. These attacks will encompass various forms, ranging from deep fake social engineering schemes to intelligently adaptive automated malware aimed at avoiding detection. Simultaneously, AI will aid in the identification, evasion, or neutralization of threats through real-time anomaly detection, intelligent authentication, and automated incident response. As we envision the cybersecurity landscape in 2024 as a game of chess, AI operates as the queen, offering the potential to create significant strategic advantages for those who can harness its power most effectively.

2. Zero-Day Threats

Software is not flawless from the start. Each program installation possesses security vulnerabilities, which are opportunities for hackers and cybercriminals to exploit. When they discover and abuse a vulnerability before software developers can provide a solution, it becomes a zero-day threat. Once hackers capitalize on a program's vulnerability, they employ a zero-day exploit to unleash ransomware or inject malicious code. Picture employees opening a Word document file only to have it trigger the launch of ransomware onto the system.

This is a high-tech and quite sophisticated hacker attack that is difficult to combat. The only available protection tool is antivirus software. You can also significantly reduce your risks with a dual VPN connection, which also has a basic antivirus system. A renowned VPN provider, VeePN offers protection against viruses, exploits, phishing, fake links, and many other vulnerabilities. It even fights online fraud, which is difficult to identify using software methods.

3. Ransomware

Ransomware has rapidly emerged as a prominent threat among malicious applications. What makes this ransomware particularly alarming is its capacity to seize control of a computer and release it only upon receiving a ransom. This hijacking feature renders ransomware highly disruptive. Notably, the Cryptolocker strain orchestrated the largest ransomware attack, infecting approximately 250,000 computers and generating $3 million in ransom fees for its authors. It is evident that such large-scale attacks can severely impair critical infrastructure and systems.

4. IoT Cyber Attacks

Cyber attackers have an increased number of opportunities to exploit as more devices connect and access the internet. The work-from-home revolution further magnifies the risks, with improperly secured devices posing a continuous threat when workers connect or share data. These devices prioritize convenience over security, leaving home consumer IoT devices vulnerable due to weak passwords and security protocols. The industry's delayed response to implementing IoT security standards, despite the apparent vulnerabilities for years, has made it a lingering weak spot in cyber security. However, this is gradually changing (more details below).

5. Phishing Email

Human error is often the cause of data breaches, particularly when employees unwittingly click on phishing emails. These deceptive emails may contain dangerous payloads, such as ransomware or trojan horse viruses, which can wreak havoc on computer systems once opened.

According to a survey conducted by McAfee, a staggering 97 percent of individuals are unable to distinguish phishing emails from legitimate ones. One of the protection options is Chrome VPN free, which can recognize fake sites and fake links. Employee training should also be an important priority to protect against phishing.

6. Crypto-Malware

Cybercriminals have taken notice of the surge in cryptocurrencies and the explosive growth of Bitcoin in 2017. As a result, they have developed malware that can mine cryptocurrency when the infected computer's browser connects to the internet. Although not directly harmful, this crypto-malware disrupts the infected computer by stealing its processing power for mining purposes. Consequently, the computer's performance slows down significantly, making it difficult to access files and run programs. Over time, this drain caused by the crypto-malware can lead to the computer's breakdown.

7. Stegware

The utilization of steganography expands the attack surface of malware, as hackers conceal malicious files within other files, images, videos, or messages. Crafting stegware was once exclusive to highly skilled cybercriminals, but now even amateurs can easily access stemware kits on the Dark Web. As a consequence, companies are likely to encounter an increasing number of infections caused by these covertly embedded malicious files, masquerading as legitimate ones, in the years to come.

Conclusion

All of these cyber vulnerabilities pose a threat to companies of any level, even if there are only 2-5 people. To protect against them, you need an integrated approach, the introduction of VPN and zero trust technology with strict restrictions on user rights. Not everything is as simple as it might seem at first glance, but the goal is quite achievable.

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