Vulnerability Exploitation Skyrockets Up 180%
The only constant in cybersecurity is change, and savvy security professionals know they must stay informed about cybercrime and data breach trends or risk disaster. The Verizon Data Breach Investigations Report (DBIR) 2024 reveals critical insights into the evolving landscape of cybersecurity threats and defensive measures. This year’s version was packed with useful information about cybercrime and data breach trends. While some things remain constant, like the fact that the majority of data breaches are caused by human error, there are a few surprises. That’s not unexpected in such a tumultuous cyber threat landscape. By taking a look at the trends Verizon noted for 2023, we can get a better idea of some of the cybersecurity and data security challenges that we’re facing now.
Curious about what has happened in cybersecurity in 2024 including the rise of AI? READ OUR REPORT>>
7 key conclusions about data breach trends
This report is a must-read deep dive into cyber and data security threats. However, it is not a light read. Here are seven of the key points from this year’s findings:
Increase in vulnerability exploitation: The report’s top headline is a significant increase in cybercriminals looking to vulnerabilities as their avenue of attack. This year’s report highlights a 180% rise in attacks that exploit vulnerabilities, nearly tripling over the previous year. These are primarily driven by zero-day vulnerabilities used in ransomware attacks, with the MOVEit software breach cited as a notable example.
Shift in ransomware tactics: While ransomware remains a dominant threat, there’s been a noticeable shift towards pure extortion attacks. These attacks involve stealing data without encryption and threatening to leak it unless a ransom is paid. This year, pure extortion made up 9% of breaches, indicating a strategic shift among cybercriminals.
Human element still a major factor: Human error continues to be a major component in breaches, involved in 68% of cases. This includes errors like misdelivery of information, misconfiguration and falling for phishing scams. The DBIR also notes an improvement in phishing awareness, with more users recognizing and reporting phishing attempts.
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Supply chain vulnerabilities: There’s a growing concern over supply chain security, with 15% of breaches involving third-party partners or third-party software. This represents a 68% increase from the previous year, underscoring the need for organizations to carefully assess the security posture of their partners and vendors.
Financial motivations predominate: The majority of breaches are financially motivated, with a significant number involving either ransomware or extortion. This aligns with the broader trend of cybercriminals pursuing methods that offer the highest returns on investment.
Impact of generative artificial intelligence (AI): The DBIR discusses the role of generative AI in cyber threats, noting that while it has been a topic of interest, its actual use in cyberattacks has been more theoretical and limited to experimental applications. This suggests that, for now, traditional cybersecurity threats remain the primary concern.
Diverse impact across industries: No sector is immune to cyber threats. This year’s report emphasizes the diverse impact of cyber threats across different sectors, with healthcare, finance and education among the most affected. Each industry faces unique challenges and threat actors, highlighting the need for tailored security strategies.
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10 Tips for preventing a data breach
These findings from the 2024 DBIR underscore the dynamic nature of cybersecurity threats and the continuous need for adaptive security measures. Organizations must remain vigilant and proactive in their cybersecurity efforts to address these evolving threats. Protecting an organization from data security trouble requires a multifaceted approach, integrating strong security practices with comprehensive monitoring and rapid response strategies. These tips can help IT professionals prevent data breaches and strengthen an organization’s cybersecurity posture.
1. Conduct regular vulnerability assessments and penetration testing
Regular vulnerability assessments help identify and address security weaknesses before they can be exploited. Penetration testing, which simulates cyberattacks on your systems, further helps to understand how these weaknesses might be exploited in the real world. This ongoing process ensures that your defenses keep pace with the evolving threat landscape.
2. Implement strict access controls
Access controls are critical for minimizing the risk of unauthorized access to sensitive data. Implementing the principle of least privilege (PoLP), where users are given the minimum level of access necessary for their job functions, reduces the potential damage of a breach. Additionally, employing multi-factor authentication (MFA) across all systems adds an extra layer of security.
3. Educate employees on cybersecurity best practices
Human error remains one of the largest security vulnerabilities. Regular training sessions can significantly mitigate this risk by educating employees on the importance of strong passwords, recognizing phishing attempts and safe internet practices. Encouraging employees to report suspicious activities can also help in early detection of potential threats.
4. Deploy advanced threat detection solutions
Utilize advanced cybersecurity technologies that employ machine learning and artificial intelligence to detect unusual activities and potential threats in real time. These systems can analyze patterns of normal behavior and flag anomalies that might indicate a breach, providing an early warning system to help prevent data leaks.
5. Encrypt sensitive data
Encrypting data both at rest and in transit ensures that even if data is intercepted, it cannot be accessed without the encryption key. This is especially crucial for sensitive information such as personal data, financial records and intellectual property.
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6. Regularly update and patch systems
Keeping software and systems up to date is crucial for protecting against known vulnerabilities. Cyber attackers frequently exploit outdated software with known vulnerabilities. Regular patch management policies should be established to ensure updates are applied as soon as they are available.
7. Develop and test an incident response plan
Having a well-developed incident response plan allows your organization to respond quickly and effectively to a data breach. This should include the process for containing the breach, assessing the damage, notifying affected parties and recovering compromised data. Regularly testing this plan through drills can ensure that your team is prepared to act swiftly in the event of an actual breach.
8. Secure third-party services
Since third parties can also be a source of data breaches, it’s important to manage and monitor the security practices of all external partners and service providers. Ensure that they comply with your security requirements and consider conducting independent security assessments.
9. Backup data regularly
Regular backups are essential for recovery after a data breach. Ensure that backups are stored in a secure location, separate from your primary data and that they are also subject to strict access controls.
10. Monitor and control remote access
With the rise of remote work, controlling and monitoring remote access to your network is more important than ever. Use secure VPNs, endpoint security and consistent monitoring to ensure that remote access does not become a vulnerability.
This year’s DBIR gives us a look at how the trends we’re seeing in 2024 got their start, illuminating potential data breach vectors. Information technology (IT) professionals can put that intelligence to work immediately. By making smart moves now, IT professionals can significantly reduce an organization’s risk of experiencing a data breach and ensure they are prepared to handle security threats. Proactivity is key — waiting until a breach occurs is too late.
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