Cybersecurity Awareness: Cyber Threats & Challenges (Forecast 2024)

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Navigating Cybersecurity: Key Threats and Challenges

Cyber threats are one of the menaces that global businesses are encountering. The impact of these issues does not stop with business interruption or data compromise.

The potential of such cyber security issues is as high as impacting the complete economic development of the nation, disrupting geopolitical scenarios, and can lead to devastating socio-economic conditions.

To prevent such situation of cyber threats, there is a need to focus on security awareness and working practices on cybersecurity issues.

Imminent that the cyber security issues are to remain as a threat to growth and sustainable development, the fact is how the cyber security threats are evolving.

From the elementary stages of data snooping to the modern-day conditions of how the AI (artificial intelligence) based solutions are being used for cybercrimes, refer to the dynamics of cyber security threats prevailing in the domain, and the need for sustainable ways of cyber security practices in the domain.

Eying at the emerging security practices, and evolving scape of cyber threats, in this article, some of the key cybersecurity challenges in 2023 are discussed.

Across nations, there is a complete ministerial department working on cyber security issues, and this signifies the persistent threat happening due to cyber threats.

Key Cybersecurity Challenges in 2024

1. The Impact of AI Support

Many businesses are now starting to use artificial intelligence in a number of ways, not just what you might expect.

One way is that they can help complete tasks like machine learning and data analysis more quickly than humans could.

It is important to know that AI can be used not only for good but also by attackers. In cyber security, the use of automated solutions powered by AI is a necessity at this point to save resources and improve reliability with respect to vulnerability detection and more.

It is estimated that more aspects of cybersecurity will become available with AI systems over the years.

In order to disrupt human-operated ransomware attacks, Microsoft have enhanced the AI-based security in Microsoft Defender for Endpoint protection with specialized machine learning techniques.

2. Ransomware Attacks

ransomware cyber threats

One of the significant kinds of cyber threats facing the public is ransomware attacks.

In this kind of attack, the hackers target the vulnerable system’s network and breach the sensitive data from the information systems.

Once there is a successful breach, the hackers either encrypt the systems or seek extortion from companies for decrypting the information systems as cyber threats.

On the other way, ransomware attackers target extortion by mentioning that if the businesses do not pay the ransom, the sensitive data from the information systems shall be uploaded into the public domain.

This kind of cyber security issues is more prevalent. This is also a one prime reason why cyber security awareness is essential for businesses, wherein businesses decide for securing from cyber threats.

3. IoT Attacks

The other range of cyber security issues increasingly high is the IoT attacks. Alongside the increasing demand for smart-home or smart-office solutions, the cyber threats around it to are on an exponential rise.

On the Internet of Things (IoT), the devices are interconnected, and accordingly, device communication takes place over the internet.

If the internet is not secured, and there is any kind of lapse in the security practices, it could hurt the systems networks leading to more cyber security issues.

4. Cloud Attacks

In the current scenario, globally many businesses are reliant on SaaS cloud-based applications such as Google Workspace and Dropbox for ease of use and for saving costs on IT infrastructure costs.

While cloud-based solutions are known for reliability and quality of access from anytime anywhere, the cyber security issues prevalent in cloud solutions are high.

The threat to the cloud-based information systems is phenomenal in terms of intrusions, user credential-based unauthorized logins, and network security issues.

In this kind of cyber threat over cloud solutions, the scope of cyber security challenges is high, and businesses need to ensure there is a systematic process followed for preventing any kind of cyber threat.

5. Phishing Attacks

One of the other significant threats being highlighted in any cyber security awareness program is the issue of phishing attacks.

More often targeted for fraudulent financial transactions, the phishing attacks are a kind of cyber security issue, wherein the hackers create look-alike webpages for banks or eCommerce stores, trap the users to provide sensitive data like credit card information, net banking password credentials, etc. and use them for scamming and siphoning funds from the user accounts.

phishing website steal your sensitive data

This kind of cyber threat is reported daily wherein people lose sensitive data to hackers or the banks reporting fraudulent transactions wherein the users lose the money from their respective accounts resulting from cyber security issues.

6. Insider Attacks 

Though this cyber security issue is not because, by external sources, this kind of unauthorized access to the organizational information systems is another popular challenge prevailing in the markets.

There are many case scenarios of businesses losing the data or data getting corrupted or cyber threats due to the data stolen by insiders from the information systems.

The users must be aware of some significant security practices essential as part of the cyber security awareness among the public.

It is never recommended to share the employee email passwords or system respective passcodes among the internal groups or ignore the internal practices essential for preventing any kind of cyber threats.

7. BYOD Attacks

Changing work culture and user preferences towards specific devices has led to certain implications for cyber security threats.

Some companies encourage employees to “bring your own device” model, wherein the employees are free to use their devices for accessing business systems.

In such solutions, the cyber threats are much higher, and the risk of cyber security issues is high.

Without proper cyber security awareness and control tools in place, encouraging this kind of security issues can lead to a challenge for businesses.

8. Systems Not being Updated

One of the other intrinsic reasons leading to cyber security issues is the lack of a systematic approach to systems audit and upgrade.

Periodically the systems need to be assessed for cyber security issues, evaluate any updates to the operating systems, application, and network level security essentials, and work on the updates.

If this regular practice can be followed for managing the information systems security, it can help in preventing cyber threats.

Many new-age cyber security solutions are emerging in the market, and one must choose the reliable and holistic kind of cybersecurity solution like Acronis Cyber-Protect solutions which can offer 360-degree monitoring and controls, preventing any kind of cyber threats.

To know more about cyber security solutions, and to avail assistance in deploying good cyber security solutions to prevent cyber threats issues, reach out to Exabytes Malaysia customer support for more assistance, this Cyber Security Awareness month.

Cyber Protect Solution

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