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It is the beginning of a new year, and everything around you seems cheery and hopeful. It is like the new year brings a fresh wave of motivation. Technology is boosted with recent developments and updates. Everyone wants to be on top of trends and predictions. In the spirit of staying updated and ready for what’s to come, GoAllSecure presents to you a list of the most treacherous cyber attacks to be aware of in 2024. These cyber attacks are minacious and can cause irreversible damage to organisations as well as individuals. Do not worry. We won’t just be sharing a list of cyber attacks but also tactics to keep defending yourself. So, gear up to be cyber secure!

Top 5 Cyber Attacks to Watch Out for in 2024

Why do you need to be aware of the latest cyber attacks? Well, it is predicted that by 2025, cyber crime will cost businesses globally $10.5 trillion yearly. It all started with the COVID-19 pandemic, which caused a 600% increase in cyber crime. Today, cyber crime encompasses anything from theft or embezzlement to data hacking and destruction. New threats are growing so fast that organisations and individuals must be preemptive and adapt to the changing scenarios to be safe. In this section of the blog, we break down the most significant cyber attacks that will rock 2024.

1. IoT Attacks on the Rise

How we interact with our surroundings is revolutionised by Internet of Things technologies, which range from connected cars to smart houses. But the attack surface for cyber criminals also increases with the number of linked devices. DDoS attacks powered by IoT increased by 300% in just the first half of last year, resulting in an estimated $2.5 billion in global financial losses. Botnets were the foundation for 90% of sophisticated, multi-vector DDoS attacks in the previous year, and this trend is likely to escalate in 2024. One major issue is that IoT devices are inherently vulnerable. Robust security features are absent from many IoT devices. These range from unpatched firmware to weak passwords, resulting in an easy entry point for cyber criminals. That is why businesses are focusing on awareness about how to prevent botnet attacks among their employees.

2. Surge in Charity Frauds

The year 2023 saw the most significant number of violent international wars since World War II. The ongoing climate calamities, combined with the pandemic’s aftereffects and the escalated level of violence, have made the perfect atmosphere for charity scams. Cyber security specialists’ claims predict a significant surge in these types of scams in 2024, taking advantage of the prolonged effects of major international events. Scammers will prey on your most vulnerable feelings, such as fear, grief, and empathy. Charity fraud is expected to become more common in 2024, especially in cases involving widely publicised conflicts and humanitarian emergencies.

3. AI-Powered Ransomware & Malware

Experts predict that in the upcoming year, cyber criminals will be more intent on creating and executing AI-driven cyber attacks, more focused ransomware campaigns, and identity theft, among other things. AI and machine learning are being used by cyber criminals to automate attacks and get beyond conventional security shields. Organisations must implement cutting-edge threat detection and response systems because AI-powered attacks are growing increasingly common. Cyber criminals are deploying social engineering techniques to craft compelling phishing emails that fool recipients into installing malware or disclosing personal information. Newer risks are materialising as a result of boosts in technology, changes in the workings of attackers, and geological activities.

4. Advanced Phishing Attacks

In the world of cyber space, phishing has long been an effective attack technique. You should anticipate more sophisticated phishing attacks in 2024 than in the past. Cyber criminals are more skilled now at getting around established security protocols. Better authentication procedures are required to safeguard your business’s data. Cyber criminals can now pose as trustworthy employees of your firm with unprecedented skill. Hackers are tricking victims into thinking dangerous messages originated from coworkers, superiors, or even clients by employing deepfake technology and strategies.

5. Multifaceted Cyberbullying

Words may be pretty harmful, even when they are posted online. Today, people of various ages, genders, races, and sexual orientations are impacted by cyberbullying. Cyberbullies have targeted 40% of adults and over 60% of youngsters. Furthermore, based on trends, such figures will probably continue rising in the future.

In 2024, the prevalence of multifaceted cyberbullying is predicted to rise due to the use of deepfake technology. Cyberbullying will not be limited to just spreading gossip; it will also involve altering photographs that are in the public domain and reposting edited, explicit versions of those images. Film stars, sports personalities, political leaders, and everyone else are targets. Children will especially face this wrath due to their fragile emotions and use of social media.

How to Stay Ahead of the Latest Hacks and Attacks?

Cyber attacks can have a wide range of effects on an organisation, from minuscule operational delays to significant financial losses. Whatever the nature of the cyber attack, there will always be costs involved, whether economic or not. Some cyber attacks can leave your company in limbo for weeks or months after the event. The threat of cyber attacks is growing in frequency; it’s better to be prepared before it happens to you. Here are:

• Keep up with the most recent scams and risks that can be found online. Being informed is a great way to protect yourself from cyber attacks.
• Watch out for dubious emails, messages, or websites that offer special discounts or freebies. Ensure the source is legitimate before divulging personal information or completing online transactions.
• For accessing content and buying stuff, make sure you rely on reliable sources, authorised stores, and legitimate websites.
• Make sure that networks that have devices connected to them remotely are safeguarded by specialised endpoint protection. Corporate networks connected to laptops, tablets, and mobile devices provide easy entry points to cyber criminals.
• To ensure your company is entirely secure, review your cyber security policy and perform routine checks on servers, software, and other systems. Check for any possible weaknesses or vulnerabilities and come up with solutions.
• Using a firewall to protect your network is one of the best defences against online threats. Setting up a firewall system will stop brute-force attacks on your network and systems before they have a chance to cause damage.
• Take extra care when disclosing sensitive information such as your address, phone number, or bank account information. Share this information only on platforms that are reliable and safe.

The most responsible course of action is to implement procedures to prevent data security breaches due to the growing concerns of hackers abusing your data. Data breach regulations vary from industry to industry. There are several things to consider based on where your company is located. GoAllSecure can help you navigate all the details and protect you and your organisation from cyber attacks. We can support you in implementing the best practices and shield you from the most invasive attacks. If you want to defend networks from hackers, kindly contact us at +91 85 2723 7851 or +44 20 3287 4253.