Cybersecurity Predictions for 2024

Cybersecurity predictions for 2024 need to account for not just trends, but also new regulations and standards. Looking ahead to the coming years, it’s clear that the cybersecurity industry will be more complex and challenging than ever before. Here are our top cybersecurity predictions for 2024.

Internet of Things (IoT) New Regulations

The continued upsurge of IoT devices brings more convenience, flexibility, and usability, but adds to the organization’s overall attack surface. Next year will mark a noteworthy change in the history of IoT security, with the global application of standardized protocols and embedded security measures as regulations and standard practice. The Cybersecurity Act and the Cyber Resilience Act in the European Union and the United States’s Internet of Things Cybersecurity Improvement Act are of specific note. By August 2024 in the EU, IoT devices must comply with requirements for adequate security features to prevent or defend against cyberattacks. These features include encryption, authentication, and access control, as well as mandatory CE marking for IoT devices. In the US, manufacturers must disclose what software and firmware is installed on IoT devices along with the length of support life consumer can expect from the product.

Encryption Upgrades

Enhanced encryption will be instrumental in securing data transmission across networks. The National Institute of Standards and Technology (NIST) is expected to release three new standardized algorithms developed to defy attacks by quantum computers. NIST accepted feedback from the public on the FIPS 203, 204 and 205 draft standards until last month. Once completed, the new encryption standards will replace three NIST cryptographic standards and guidelines that are the most vulnerable: FIPS 186-5, NIST SP 800-56A and NIST SP 800-56B

Organizations will need to develop plans to integrate these methods into their encryption infrastructure globally. Full technical specification and notes for effective implementation of the algorithms FIPS 203, 204, and 205 are available from NIST:

• FIPS 203, Module-Lattice-Based Key-Encapsulation Mechanism Standard

• FIPS 204, Module-Lattice-Based Digital Signature Standard

• FIPS 205, Stateless Hash-Based Digital Signature Standard

Artificial Intelligence (AI): The good, the bad, and the ugly

With the increasing use of AI by both hackers and defenders, we can expect cyber-attacks to become more sophisticated and more complex to detect. AI analysis capabilities will attempt to keep pace with these evolving threats to stay ahead of the curve. However, it is likely that the proliferation of AI will create just as many cybersecurity issues to address as advancements to cybersecurity. Common AI attack methods include:

• Neutralizing off the shelf security tools

• Creating deepfake data

• Building advanced malware

• Poisoning data sets

• AI-support password guessing

• Weaponizing AI frameworks

• Machine learning enabled penetration testing tools.

• Mimicking trusted systems

Geopolitical Cybercrime and State-Sponsored Attacks

Another major trend we’re likely to see is nation-states’ continued use of cyber espionage and cybercrime operations to achieve their geopolitical objectives. Businesses and governments will need to be more vigilant than ever when protecting their sensitive data and networks. Threat actors will increasingly exploit zero-day vulnerabilities and target edge devices and virtualization software to evade detection.

Cloud Security Exploits

Cybercriminals will continue to rely on cloud service exploits. Solid cloud security practices are essential to prevent attackers from exploiting misconfigurations and weaknesses that allow threat actors to move laterally across cloud environments. Your organization’s cloud security should evolve with the threats that permeate the cloud landscape, with focuses on plans to do the following:

• Control access to data and applications with multi-factor authentication and by managing user accounts and permissions.

• Secure cloud storage and networks with security controls like firewalls, monitoring, and intrusion detection.

• Secure data with encryption, access controls, and recovery plans.

• Use tools to identify anomalous activity and plan for remediation.

Cybersecurity in 2024 and Beyond

With the right tools and strategies, your organization can stay ahead of the curve and keep your networks and data safe. Need help to prepare for the cybersecurity or compliance challenges that lie ahead? Do you want to do everything you can to protect your businesses from cyber threats? Let’s talk. Contact Securance Consulting for a free consultation.