Cybercrime is a big problem for the UK. It’s estimated to cost the economy £27 billion a year. And that number is only going to grow for the foreseeable future. As we step into 2024, it’s crucial to be aware of emerging technology threats. Ones that could potentially disrupt and harm your business.
Technology is evolving at a rapid pace. It’s bringing new opportunities and challenges for businesses and individuals alike. Not all technology is benign. Some innovations can pose serious threats to our digital security, privacy, and safety.
Here we highlight some emerging technology threats to be aware of in 2024 and beyond.
5G Network Vulnerabilities
5G is already transforming and enhancing mobile connectivity. With its high speeds and low latency, almost all businesses and industries are now in the position to digitize applications and services they couldn’t dream of not long ago. However, the widespread adoption of 5G technology introduces new security challenges. With an increased number of connected devices, the attack vector broadens. IoT devices, reliant on 5G networks, might become targets for cyberattacks. Securing these devices and implementing strong network protocols is imperative. Especially to prevent large-scale attacks.
Ensure your business has a robust mobile device management strategy. Mobile is taking over much of the workload Organizations should properly track and manage how these devices access business data.
Data Poisoning Attacks
Data poisoning involves corrupting datasets used to train AI models. By injecting malicious data, attackers can skew algorithms’ outcomes. This could lead to incorrect decisions in critical sectors like healthcare or finance. Some actions are vital in countering this insidious threat. These include protecting training data integrity and implementing robust validation mechanisms. Businesses should use AI-generated data cautiously. It should be heavily monitored and assessed by human intelligence and data from other sources.
Quantum Computing Vulnerabilities
Quantum computers can solve highly complex problems faster than any of its predecessors. Quantum computers live in research universities, government offices, and leading scientific companies. We are currently in a period of a quantum revolution. Many organizations are currently investing in the quantum computer industry, and it is predicted that the quantum computing market may increase by 500% by 2028. Quantum computers are scaling rapidly. Soon, they will be powerful enough to solve previously unsolvable problems. This opportunity comes with a global challenge: quantum computers will be able to break some of the most widely-used security protocols in the world.
Its immense processing capabilities could crack currently secure encryption methods. Hackers might exploit this power to access sensitive data. This emphasizes the need for quantum-resistant encryption techniques to safeguard digital information.
Artificial Intelligence (AI) Manipulation
AI, while transformative, can be manipulated. Cybercriminals might exploit AI algorithms to spread misinformation. They are already creating convincing deepfakes and automating phishing attacks. Vigilance is essential as AI-driven threats become more sophisticated. It demands robust detection mechanisms to discern genuine from malicious AI-generated content.
How Hackers Are Abusing AI
Password hacking: Cybercriminals exploit AI to improve the algorithms they use for deciphering passwords. The enhanced algorithms provide quicker and more accurate password guessing, which allows hackers to become more efficient and profitable. This may lead to an even greater emphasis on password hacking by cybercriminals.
Deepfakes: This type of deception leverages AI’s ability to easily manipulate visual or audio content and make it seem legitimate. This includes using fake audio and video to impersonate another individual. The doctored content can then be broadly distributed online in seconds—including on influential social media platforms—to create stress, fear or confusion among those who consume it. Cybercriminals can use deepfakes in conjunction with social engineering, extortion and other types of schemes.
Data poisoning: Hackers alter the training data used by an AI algorithm to influence the decisions it ultimately makes. In short, the algorithm is being fed with deceptive information, and bad input leads to bad output.
Social engineering schemes: These schemes rely on psychological manipulation to trick individuals into revealing sensitive information or making other security mistakes. They include a broad range of fraudulent activity categories, including phishing, vishing and business email compromise scams. AI allows cybercriminals to automate many of the processes used in social-engineering attacks, as well as create more personalized and effective messaging to fool unsuspecting victims.
Augmented Reality (AR) and Virtual Reality (VR) Exploits
AR and VR technologies offer immersive experiences. But they also present new vulnerabilities. Cybercriminals might exploit these platforms to deceive users, leading to real-world consequences.
Ensuring the security of AR and VR applications is crucial. Especially to prevent user manipulation and privacy breaches. This is very true in sectors like gaming, education, and healthcare.
Ransomware Evolves
Ransomware attacks have evolved beyond simple data encryption. Threat actors now use double extortion tactics. They steal sensitive data before encrypting files. If victims refuse to pay, hackers leak or sell this data, causing reputational damage.
Some defences against this evolved ransomware threat include:
• Robust backup solutions
• Regular cybersecurity training
• Proactive threat hunting
Supply Chain Attacks Persist
Supply chain attacks remain a persistent threat. Cybercriminals infiltrate third-party vendors or software providers to compromise larger targets. Strengthening supply chain cybersecurity is critical in preventing cascading cyber incidents. Businesses can do this through rigorous vendor assessments, multi-factor authentication, and continuous monitoring.
Biometric Data Vulnerability
Use of biometrics on mobile devices is becoming increasingly common, as most recent smartphone models have at least one built-in mechanism for biometric authentication, most commonly face or fingerprint recognition. These can offer a secure and convenient alternative to passwords or PINs. However, vulnerabilities do still exist in biometric systems, including spoofing of biometrics, or attacks against the systems and devices themselves.. Examples include facial recognition not testing for alertness, making it possible for a device to be unlocked whilst a user is asleep, or has their eyes shut. You should research these weaknesses when choosing to use biometrics, or when choosing which devices to use in your organisation.
Advanced Phishing Attacks
Phishing attacks are one of the oldest and most common forms of cyberattacks. These attacks are becoming more sophisticated and targeted thanks to AI. For example, hackers customize spear phishing attacks to a specific individual or organization. They do this based on online personal or professional information.
Another example is vishing attacks. These use voice calls or voice assistants to impersonate legitimate entities. They convincingly persuade victims to take certain actions.
Ongoing employee phishing training is vital. As well as automated solutions to detect and defend against phishing threats.
TIPS FOR DEFENDING AGAINST THESE THREATS
As technology evolves, so do the threats that we face. Thus, it’s important to be vigilant and proactive. Here are some tips that can help:
- Educate yourself and others about the latest technology threats.
- Use strong passwords and multi-factor authentication for all online accounts.
- Update your software and devices regularly to fix any security vulnerabilities.
- Avoid clicking on suspicious links or attachments in emails or messages.
- Verify the identity and legitimacy of any callers or senders. Do this before providing any information or taking any actions.
- Back up your data regularly to prevent data loss in case of a cyberattack.
- Invest in a reliable cyber insurance policy. One that covers your specific needs and risks.
- Report any suspicious or malicious activity to the relevant authorities.
Need Help Ensuring Your Cybersecurity is Ready for 2024?
Last year’s solutions might not be enough to protect against this year’s threats. Don’t leave your security at risk. We can help you with a thorough cybersecurity assessment, so you know where you stand.
Contact us today on 01772 369247 to schedule a chat.
