Hacking and Cybersecurity – Cyber Defense Magazine

Trends to Look Out for in 2024

By Yashin Manraj, CEO, Pvotal Technologies

For cybersecurity professionals, remaining effective requires staying on top of a constantly evolving arsenal of attack strategies deployed by hackers. As soon as one area is secured, another can come under siege. In some cases, the hackers keep their focus on the same sector, simply changing the attack vector to account for new security controls. As we approach 2024, the following are some of the hacking and cybersecurity trends that technology and security professionals should be on the lookout for.

Ransomware attacks

A recent report shows ransomware attacks are on the rise. During the third quarter of 2023, organizations reported nearly twice the frequency of attacks they endured during the same quarter in 2022.

The same report showed a shift in ransomware attacks from weaponizing Managed File Transfer apps to exploiting vulnerabilities. Recent media reports have shown that while new vulnerabilities continue to be discovered, recent attack trends focus on weaponizing old vulnerabilities.

Reports in 2021 suggested cyber attackers were targeting companies with cybersecurity insurance, explaining that companies with insurance were thought to be more likely to pay ransoms than those without since the policy covered their losses. While it is difficult to prove the logic, it has led some insurance companies to exclude ransomware attacks from cyber insurance policies, forcing organizations to rethink their strategies for responding to such attacks.

In terms of ransomware targets, healthcare organizations were reportedly the most frequently attacked during 2022, with critical manufacturing attacks ranking second on the list and government facilities ranking third. In 2023, healthcare remained a top target, though some experts predict a shift in 2024, marking the education sector as a new priority target.

IoT security

A report issued in 2023 on IoT security revealed that the average home in the US has 46 devices connected to the internet. Every 24 hours, those devices were targeted by an average of eight attacks, including DDoS attacks and IoT malware. Experts expect IoT attacks to continue to rise in 2024 due…