Cybersecurity Attacks Expanding
4 Reasons Cybersecurity Attack Surfaces Are Expanding
4 Reasons Cybersecurity Attacks Expanding
In today’s digital age, cybersecurity threats are evolving rapidly. As businesses increasingly rely on technology, their exposure to cyber risks expands. Several key trends contribute to the growing attack surface:
1. Increased Use of Internet of Things (IoT)
- Over 75 federal agencies in the U.S. reported using Internet of Things (IoT) technologies.
- Experts predict the number of connected devices will reach 14.4 billion in 2024.
The increased use of IoT devices, from smart thermostats in homes to complex industrial sensors, has created new vulnerabilities. Each connected device can potentially serve as an entry point for cybercriminals.
2. Rapid Adoption of the Cloud
- Global public cloud end-user expenditure is expected to grow by over 20% in 2024.
The migration to cloud services continues to surge, driven by the need for scalable resources and remote work capabilities. However, this shift has also expanded the attack surface. Misconfigured cloud settings and inadequate access controls have led to several high-profile data breaches, including the notable case of a misconfigured cloud storage bucket exposing sensitive data of millions of users in a major retail chain.
3. Digital Transformation
- IT spending is projected to hit $4.3 trillion in 2024.
- Spending on digital transformation technologies has increased from $1 trillion in 2018 to $3.1 trillion in 2024.
Organizations are investing heavily in digital transformation to stay competitive. This includes adopting AI, machine learning, and advanced analytics. However, these advancements also require robust cybersecurity measures. The recent breach of a multinational tech giant, where hackers exploited AI systems to bypass security, highlights the need for continuous monitoring and updating of cybersecurity protocols.
4. Work-From-Home Model
- Over 75% of all departments and teams are expected to have remote workers by 2028.
The shift to remote work has permanently altered the workplace landscape. This change has introduced new cybersecurity challenges, as employees access corporate networks from various locations using potentially insecure personal devices. The recent ransomware attack on a global financial institution, which was traced back to a compromised home network of a remote employee, underscores the importance of securing remote work environments.
With an expanding attack surface comes cybercrime. According to the FBI, cyberattacks have surged by over 600% recently. Identifying and deflating cyber threats is essential for your business’s health and future.
Growing Cybersecurity Risks
Cybersecurity Attacks Expanding
1. Targeted Ransomware Attacks
Ransomware attacks have long troubled businesses. Experts estimate that about 20% of breaches reported in 2024 involved ransomware. The success of these attacks is due to their simplicity. Alarmingly, ransomware kits are cheaply available on the dark web. Without precautionary measures, SMBs are at significant risk. The recent high-profile ransomware attack on a major U.S. pipeline, which led to widespread fuel shortages, highlights the devastating potential of such threats.
2. Phishing Attacks
Phishing attacks use social engineering to target email and cloud services. These attacks can lead to account takeover, credential theft, and more. According to a recent report, phishing attacks increased by 15% in 2024. Malicious actors use phishing scams by leveraging global events to their advantage, such as sending emails that appear to be from legitimate organizations. For instance, the 2024 Olympic Games saw a surge in phishing emails impersonating official Olympic committees, targeting individuals and businesses involved in the event.
3. Insider Threats
Nearly 25% of breaches involve internal actors. Insider threats are often the toughest to detect. Common causes include negligent employees or contractors (64%), criminal or malicious insiders (21%), and credential theft (15%). A recent insider breach at a leading social media company, where an employee was found to have sold user data to third parties, illustrates the severe impact of insider threats.
4. Fileless Attacks
Fileless attacks exploit a victim’s environment features and tools. They don’t rely on file-dependent payloads, leaving no footprint, which makes detection difficult. A fileless attack is reported to be 12 times more successful than a file-based attack. These attacks often originate through emails that direct victims to malicious websites, where system tools are used to distribute payloads and execute commands. The notorious attack on a global healthcare provider, which involved a fileless malware that went undetected for months, showcases the sophistication of such threats.
How to Stay Protected
Cybersecurity Attacks Expanding
Enhance your IT security and protect your business by following these steps:
- Automate Patch and Vulnerability Management: Keep systems updated to safeguard against attacks exploiting software vulnerabilities.
- Regular Backups: Ensure quick recovery from cyber disruptions by backing up your systems and SaaS applications.
- Deploy Advanced Security Solutions: Use antivirus and antimalware solutions that provide endpoint detection and response (EDR).
- Equip New Devices with Security Tools: Include local firewalls, DNS filtering, malware protection, multifactor authentication (MFA), and disk encryption.
- Incident Response Plan: Always be ready with a robust action plan, including communication strategies with stakeholders.
- Regular Security Training: Continuously train employees and vendors on cybersecurity best practices.
Feeling overwhelmed about assessing your current cybersecurity posture? Don’t worry. We can handle the assessment and suggest the right solutions for your business. Partner with us for a seamless and successful cybersecurity journey. Contact us today for your cybersecurity assessment.
