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In 2024, a prominent technology company Dell suffered two large cybersecurity incidents that affected nearly 50 million customers. The hacker was interviewed by TechCrunch reporting that he registered several accounts for Dell resellers and brute-forced customer service tags. The attack went completely unnoticed by the organization while the hacker managed to send almost 50 million requests. The solicited sensitive records were later published on dark web forums in an attempt to sell the data.
After having collected enough data, the cybercriminal contacted Dell to notify them about the vulnerability. However, despite all this, Dell was hacked by the same person again exposing an additional 30,000 customer accounts.
The company faced severe monetary repercussions for the data breach, including the costs of investigation, legal expenses, as well as remediation. Additionally, Dell’s stock prices went down as a consequence of the reputational hit remaining lower than previously to this day. Massive security incidents usually cause substantial damage to the organization’s image and serious payouts averaging $4.88 million in 2024.
This case is just one in a sea of cybersecurity breaches that occur almost daily. In fact, the risks of cyber threats are higher than ever and continue to increase as we speak. Cyberattacks have doubled since the pandemic while the losses have quadrupled since 2017. Although cyber attacks have always been present, the likelihood of breaches has only risen in the last few years. That begs the question, why are data breaches more prominent than ever?
As mentioned before, the number of security challenges has increased since the pandemic, and it’s not a coincidence. During the pandemic, millions of people shifted from traditional work to remote in a very short period of time. Since home network security is usually lower than in the business environment, remote workers have become an easy target for cybercriminals.
Another important contributor to the evolving threats is the recent development of AI. Cyber attackers leverage AI tools to personalize phishing attacks, automate data collection, and stay undetected by traditional security measures. In addition to AI, criminals utilize deepfakes and other technologies to make their attacks more sophisticated.
Aside from developing new types of cyber threats, hackers are expanding the old ones like ransomware attacks. Nowadays, criminals actually franchise their malware allowing even non-technical people to execute an attack. Furthermore, instead of locking the systems and hurting mainly the company, attackers also steal user data, which affects everyone who has any ties with the organization.
Finally, businesses nowadays are mostly not autonomous and rely on third-party vendors to improve their services and cut costs. Even if you make sure your company assets are secure, you cannot guarantee that your vendors, suppliers, partners, and other associates are as protected.
From social engineering scams and insider threats to DDoS and ransomware attacks, businesses have to defend themselves from a wide array of online crimes. But how can you combat the growing cyber threat and strengthen your security posture? In this section, we’ll discuss the most critical cybersecurity trends for businesses and highlight how they may aid you in protecting your digital assets.
Let’s begin by going over trends in cybersecurity associated with advanced security tools and solutions.
One of the most prominent cybersecurity industry trends is zero trust, which is a set of practices and concepts aimed at enforcing strict access protocols that adhere to the principles of least privilege. This approach helps businesses identify compromised networks and prevent unauthorized access to safeguard sensitive data.
While initially zero trust was limited to access attempts, encouraging businesses to verify each login, it has recently expanded to a more comprehensive strategy. The updated technique shifts the focus from analyzing location only to encompassing an array of data and continuously monitoring security controls among systems, users, and assets.
As a result, you significantly minimize the risks of data breaches, mitigate the impact of successful incidents, reduce the costs associated with cybercrime, and improve compliance.
Extended detection and response (XDR) is a cybersecurity approach to unifying security operations. Since some security solutions don’t seamlessly work together, XDR systems help corporations make their IT environment more holistic. Using this method, you can increase interoperability and utilize various tools to detect, investigate, and eliminate threats. By breaking down the silos and removing visibility gaps, your security team can identify and resolve risks more effectively as well as improve threat prevention mechanisms.
Security information and event management (SIEM) is also one of the most vital IT security trends and goes hand in hand with XDR systems, further strengthening the company’s assets. A cybersecurity solution accumulating security event data from multiple sources across the organization, SIEM offers continuous monitoring, real-time threat detection, and incident management. Besides collecting log data, SIEM tools analyze it to extract patterns and anomalies that indicate a potential threat.
Security mesh architecture (CSMA) is among cybersecurity trends that strives to foundationally redefine the way companies view cybersecurity. A transformative approach to security, CSMA highlights the importance of collaboration, interoperability, and context awareness to resolve modern-day cyber threats. Instead of creating or finding one solution to solve all security issues, CSMA suggests focusing on individual endpoints and adopting an integrated approach.
Security orchestration, automation, and response systems (SOAR) are aimed at integrating automated responses to various events thus removing the extra burden off IT teams. This way, SOAR tools can trigger incident response protocols and set wheels in motion without human intervention. Security professionals are still required to ensure the safety of data, but such systems can supplement human labor and strengthen the overall cybersecurity posture.
Cyber threat intelligence (CTI) is the practice of collecting information pertaining to security incidents and events in an attempt to increase predictability. The main objective of CTI is to continuously monitor current cybersecurity threats to stay prepared for an attack. This approach allows businesses to be proactive about potential security risks and tackle them before an attack occurs. While in the past cybersecurity professionals were tasked with gathering and assessing this data, AI and ML systems can now autonomously handle the bulk of these routine processes.
More and more companies rely on cloud services which highlights the importance of robust cloud security infrastructure. Cloud-native security focuses on unique cloud security challenges associated with dynamic and scalable environments. This approach suggests building cyber security directly into cloud systems ensuring high levels of protection across multiple cloud environments.
For instance, cloud security posture management (CSPM) is the practice of continuous monitoring of cloud infrastructure for issues related to compliance, configuration, and other potential vulnerabilities. Another security solution is known as cloud workload protection platforms (CWPP) and monitors cyber threats for cloud workloads.
As one of the top cybersecurity trends, DevSecOps suggests a cultural shift that highlights the importance of security throughout the entire development life cycle, ensuring that applications are secure from inception to production. By automating security testing and integrating it into the development pipeline, organizations can identify and address vulnerabilities early in the process, considerably reducing the financial implications as costs increase in the post-production phase. Ultimately, DevSecOps helps organizations build secure software more efficiently and respond effectively to evolving threats.
Furthermore, DevSecOps promotes the concept of shared responsibility among the developers, operations department, and security specialists. It’s about changing the way companies handle cybersecurity as a whole. DevSecOps encourages businesses to consider data protection a shared goal that everyone should strive to achieve.
Passwords are among the biggest vulnerabilities for any business or individual. While cybercrime continues to ramp up, users are forced to create longer, more complex passcodes with frequent updates and resets. Not only is it a big point of contention for users, but also a significant driver of IT support costs.
Passwordless authentication is a subset of multi-factor authentication (MFA) substituting the need for passcodes with several verification systems tethered to the device itself. From fingerprint and facial recognition to cryptographic keys and authenticator apps, the core idea is to ensure that the sensitive data does not leave the device.
Cyber insurance is rapidly becoming one of the most critical current cyber security trends as a response to the increasing volume and severity of cyber attacks. Insurance companies are developing tailored coverages for different businesses with case-specific policies. At the same time, they are expecting more robust cybersecurity measures from the policyholders to offer them reasonable pricing models. Moreover, they also provide them with materials and resources to deal with incidents and mitigate threats.
Dealing with outside vendors and partners can also jeopardize your security. The more third-party connections you depend on, the higher the external threats. To minimize cyber incidents associated with your partners and suppliers, it’s crucial to continuously evaluate their security posture and monitor potential vulnerabilities in their software components. Additionally, take time to vet your suppliers and vendors to ensure their standards are up to code.
No matter how robust your cybersecurity measures are, there is always a human element that may put you at risk. In this part, we will explore security approaches that will aid you in minimizing the threat of a human factor.
Phishing attacks remain among the most popular and successful cyber threats, especially in the workplace. Just with one email, an attacker can entice a user to follow a link and share sensitive information that aids criminals in accessing business systems. Regular employee training can help companies minimize the success rates of phishing scams and strengthen the company’s security.
Security champions are company-appointed individuals tasked with promoting awareness about security measures within the organization. Depending on the size of the business, this could be one or several developers, IT experts, or other employees who advocate for cybersecurity. They usually get additional training programs to become more knowledgeable about cyber threats to then later communicate this information to their colleagues.
Security champions help bridge the gap between the IT department and the rest of the company and generally enhance security across the organization. Their main duties include discovering vulnerabilities within the company and beyond, implementing and updating security measures, and monitoring compliance with regulations and policies.
First and foremost, businesses need to change their attitude toward the evolving cyber threats and undergo a cultural shift. By developing security policies and encouraging open communication about security concerns, companies can increase awareness and create a security-first workplace. For instance, integrate security into business processes and decisions, organize regular training, thus, making following security measures as self-evident routine.
One of the biggest issues with cybersecurity threats is the lack of reporting and accountability. Security amnesty program is an efficient tool to boost this cultural shift. More often than not, employees do not feel safe admitting their mistakes for fear of repercussions. Security amnesty programs are intended to remove this fear and encourage employees to report their security errors and mishaps. To achieve this, simplify the reporting process and make it confidential, create a no-blame culture, and establish clear policies regarding the scope of amnesty. When employees at all levels understand the importance of safeguarding data, they become more vigilant, reporting suspicious activities and following security protocols. This collective awareness creates a proactive defense mechanism, reducing the risk of breaches and enhancing overall organizational resilience.
Gamification has become a prominent trend across industries making information more digestible and engaging. Security training can also be gamified to increase motivation and improve knowledge retention. For instance, companies can integrate achievement badges for completing training or utilizing their newly acquired skills on the job. Gamified training modules can also include real-life scenarios making the content easier to comprehend and memorize.
Social engineering attacks are designed to trick individuals into revealing critical data through psychological manipulation. Most frequently, criminals try to evoke fear and a sense of urgency when asking to share information that they shouldn’t share, downloading software that they shouldn’t download, visiting websites they shouldn’t visit, sending money to criminals or making other mistakes that compromise their personal or organizational security. For instance, an employee may get an email or a call that the organization is under criminal investigation due to tax fraud. Especially during stressful pre-deadline times, people are a lot more susceptible to such attacks and reveal data they would never disclose otherwise.
Educating your employees about the methods of social engineering can significantly bolster your security measures. From offering real-life scenarios and demonstrating warning signs of social engineering attempts to discussing emerging threats and the latest cybersecurity trends, businesses can turn employees into a strong line of defense.
Insider threats are not limited to malicious actors who are trying to intentionally harm the company’s bottom line. On the contrary, the majority of insider threats occur unintentionally and due to negligence or ignorance. Such training programs mostly focus on at-risk employees who have access to confidential data. They are meant to offer additional support to them and safeguard sensitive data.
While employee training is important for cybersecurity awareness, it’s insufficient on its own. Today’s complex threat landscape demands a proactive approach. Cyberattacks pose a constant threat, with the potential to cause significant financial loss, reputational damage, and operational disruption. Integrating cybersecurity into operations, workflows, and technology is essential to create a proactive defense. By embedding security measures into the fabric of the business, organizations can effectively mitigate risks and protect sensitive information.
At NIX, with over three decades of experience, we’ve honed our ability to navigate this complex landscape. Our comprehensive cybersecurity services encompass consulting, engineering, testing, and compliance, ensuring robust protection for your business. We offer tailored solutions to address your specific needs, from fortifying existing systems to building new software with security at its core. By leveraging our deep industry knowledge, we empower you to build long-term security strategies that withstand the test of time. Let’s discuss your security needs and provide you with the confidence to withstand cyberattacks, as a result!
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