3 Trends Shaping Cybersecurity in 2024
The cybersecurity world never slows down, constantly evolving to serve up new risks and novel cyberattacks every day. Keeping track of all of these developments can be a challenge, which is why we’re here to help. The Midyear Cyber-Risk Report 2024 is your essential guide to understanding this year’s pivotal cyber-risk trends. In this edition, we delve into the elements shaping cybersecurity in 2024. Plus, we’ll explore three notable risks that information technology professionals must grapple with to secure business systems and data.
Where did we start?
It’s important to understand where we started at the turn of the year to gain a clear picture of the issues IT professionals face in 2024. In the Kaseya Security Survey Report 2023, we asked IT professionals about their cybersecurity experiences and challenges, and here’s what they had to say.
Source: Mid-Year Cyber Risk Report 2024
Data compromises are at an all-time high
We’ve seen a concerning rise in the number of publicly reported data breaches. The U.S. hit a record high of 3,205 data breaches in 2023 — a 78% increase from the previous year — and it doesn’t seem to be slowing down. In the first quarter of 2024 alone, there were 841 reported breaches, up 90% from the same period in 2023. These figures highlight the critical importance for businesses to keep their cybersecurity strong to protect against data theft.
Source: Mid-Year Cyber Risk Report 2024
1. Most IT pros expect their organization to be hit by ransomware
Ransomware remains a significant and ongoing danger to businesses everywhere. Every day, cybercriminals find new ways to use cutting-edge technology, including generative AI, to create new and more sophisticated ransomware and malware. Alarmingly, the majority of the people we surveyed anticipate their organization will face a ransomware attack this year. And they’re probably right — 1,048 ransomware attacks were recorded in Q1 2024, up 73% over the same period in 2023.
Source: Mid-Year Cyber Risk Report 2024
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2. Zero-day exploits soar
A zero-day attack, which is a cyberattack that exploits previously undiscovered vulnerabilities, is a term that we’re hearing more frequently. In 2023, Google observed 97 zero-day vulnerabilities exploited in the wild. That’s over 50% more than in 2022, when 60 were reported. Several factors have contributed to this surge, including:
- An increasingly interconnected business world as traffic increases between organizations and specialized service providers.
- Cybercriminals searching for new avenues of attack as businesses harden their security.
- Slipshod maintenance and patching by overworked IT teams.
- Modern software development practices that tend to result in common vulnerabilities.
- Patch development focused on temporary mitigations rather than underlying causes.
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3. Supply chain danger is growing
Supply chain cyberattacks hit the headlines in 2023. In the U.S., these attacks affected 2,769 entities — the highest since 2017. Sadly, 61% of the people we surveyed shared that their organization faced a cyberattack via their supply chain or a third-party service provider last year. This trend is on the rise, emphasizing the need for businesses to beef up their defenses in 2024. Experts estimate that 45% of global organizations will experience a supply-chain-related cyberattack by 2025.
Source: Mid-Year Cyber Risk Report 2024
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Kaseya’s Security Suite has the tools that MSPs and IT professionals need to mitigate cyber-risk effectively and affordably with automations and AI-driven features that make IT professionals’ lives easier.
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Graphus: Graphus is a cutting-edge, automated phishing defense solution that puts three layers of AI-powered protection between employees and phishing messages. It works equally well as a standalone solution or supercharges your Microsoft 365 and Google Workspace email security.
RocketCyber Managed SOC: Our managed detection and response (MDR) solution is backed by a world-class security operations center that detects malicious and suspicious activity across three critical attack vectors: endpoint, network and cloud.
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