Following a surge in cybercrime in 2023, which saw the highest recorded volume of cyberattacks in two years, cybersecurity solutions provider Check Point Software Technologies has made its predictions on what cyberthreats will look like in 2024.
Check Point Research (CPR), the Threat Intelligence arm of Check Point Software Technologies reported an 8% increase in global weekly cyberattacks in the second quarter of 2023, marking the highest volume in two years.
Familiar threats such as ransomware and hacktivism have evolved, with criminal gangs modifying their methods and tools to infect and affect organisations worldwide. Even legacy technology such as USB storage devices regained popularity as a vehicle to spread malware.
One of the most significant developments this year was the evolution of the ransomware landscape. Data derived from over 120 ransomware “shame-sites” revealed that in the first half of 2023, a total of 48 ransomware groups reported breaching and publicly extorting more than 2,200 victims. There have been several high-profile cases this year including the attack against MGM Resorts, which shutdown major Las Vegas sites for several days and is likely to cost millions in remediation.
Check Point’s cybersecurity predictions for 2024 broadly fall into seven categories: Artificial Intelligence and Machine Learning; Supply chain and critical infrastructure attacks; cyber insurance; nation state; weaponised deepfake technology, phishing attacks and ransomware.
“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. Let’s harness the full potential of AI for cybersecurity, with a keen eye on responsible and ethical use, ” said Sergey Shykevich, Threat Intelligence Group Manager at Check Point Software Technologies.
“The use of artificial intelligence by ransomware attackers will become more advanced, requiring organisations 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, organisations 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.
As cybercriminals continue to evolve their methods and tools, organisations need to adapt their cybersecurity measures. In 2023 we have witnessed several large-scale attacks. In today’s threat landscape, companies not only have to prioritise their own security protocols, but also scrutinise the security practices of their third-party suppliers.
“With the rise of AI-enhanced cyberattacks, zero trust models, and deepfake technology, it is more important than ever to invest in collaborative, comprehensive and consolidated cybersecurity solutions. We must stay vigilant and agile in the face of the expanding attack vector and work together to create an effective defence against cyber threats,” said Check Point Software Technologies.
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