Are You Aware of These New Threats?

Every time you turn around, there’s a new type of cyber-threat, and they’re more expensive to recover from. Last year, the global average cost of a data breach was $4.45 million - an increase of 15% over the previous three years. As we get to the end of Q4 2024, it's critical to be aware of emerging technology threats that could potentially disrupt and harm your business.

Technology evolves at an increasingly rapid pace, bringing new opportunities and challenges for businesses and individuals alike. Although much seems innocent enough, not all technology is benign. Some innovations can pose serious threats to our digital security, privacy, and safety. Nobody can afford to be blind to potentially dangerous possibilities.

Consider some emerging technology threats that we’ve been dealing with in 2024 and will undoubtedly be updating our defenses against in 2025.

What is an emerging threat?

There are quite a few emerging cyber-threats and each should be discussed with your IT services provider:

Data Poisoning

Never make the mistake of thinking that cybercriminals are stupid: “Au Contrare, mes amis!” Every time we get a new technology, crooks quickly figure out how to compromise it. Data poisoning involves corrupting datasets used to train AI models. By injecting malicious data, attackers can skew algorithms' outcomes, potentially leading to incorrect decisions in critical sectors like healthcare or finance. It is crucial to take actions to counter this insidious threat. These include protecting training data integrity and implementing robust validation mechanisms.

Exercise caution whenever using AI-generated data. It should be heavily augmented by human intelligence and data from other sources. Don’t trust it without examination.

 Vulnerabilities in 5G Networks

After a long wait, 5G technology is finally here - and growing rapidly. This introduces a range of new attack surfaces. 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.

Make sure that your business has a robust mobile device management strategy. Mobile is taking over much of the workload these days, and organizations should properly track and manage how these devices access business data.

Quantum Computing Vulnerabilities

Quantum computing is not yet as widespread as it’s expected to be. It poses a threat even though it promises unprecedented computational power. In criminal hands, its immense processing capabilities could crack currently secure encryption methods. It’s a safe bet that hackers will exploit this power to access sensitive data. This emphasizes the need for quantum-resistant encryption techniques to safeguard digital information.

AI Manipulation

Yes, AI can be manipulated, just like any transformative technology. 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.

Virtual Reality (VR) and Augmented Reality (AR) Exploits

VR and AR technologies present new vulnerabilities. Cybercriminals can exploit these platforms to deceive users, leading to real-world consequences.

Comprehensive security measures for AR and VR applications are crucial to prevent user manipulation and privacy breaches. This is especially true in sectors like gaming, education, and healthcare.

The Continuing Evolution of Ransomware

This is a big moneymaker in the cybercrime world, and crooks keep improving it. Ransomware attacks have evolved far beyond simple data encryption. Threat actors now use double extortion tactics. Once the Ransomware enters the system, it first steals sensitive data before encrypting files. If victims refuse to pay, hackers leak or sell this data, causing reputational damage.

There are good defenses against this evolved ransomware threat:

Robust backup solutions

Regular Security Awareness Training

Proactive threat hunting

Attacks on Your Supply Chain

These are somewhat complex attacks using multi-layered strategies. Cybercriminals infiltrate your third-party vendors or software providers to compromise larger targets who are actually the intended victims. 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.

Address the Vulnerabilities in Biometric Data

Biometric authentication methods like fingerprints, facial, and retinal recognition, are becoming more commonplace, but once compromised, users can't change biometric data like they can passwords. Protect biometric data through secure encryption. Ensure that service providers follow strict privacy regulations. These are paramount to preventing identity theft and fraud.

The Continuing Evolution of Phishing Attacks

This is really the grandaddy of cyber-attacks. Phishing is one of the oldest and THE most common forms of cyberattacks, and just like Ransomware, they 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. If you have a slew of photos of your cat, Admiral Fluffynuzzle on Facebook, they will use that to seem safe and familiar to you.

Another fairly new form of phishing is Vishing, which uses voice calls or voice assistants to impersonate legitimate entities. They convincingly persuade victims to take certain actions. It sounds like your boss asking for your passwords, but… is it? Call your boss and ask about it.

Take the time and expense to educate your employees on current phishing attacks. This is vital and should be included as part of your ongoing Security Awareness Training. You should also have automated solutions to detect and defend against phishing threats in place.

What is the best defense against cyber attacks?

Not to be flippant, but the answer is ‘ALL of them.’ The threats that we face evolve in tandem with the technology we use, so it’s important to be vigilant and proactive, and there’s no ‘one pill cures all.’ Here are some tips that can help:

Continuously educate yourself and others about the latest technology threats.

Use strong passwords and multi-factor authentication for all online accounts.

Regularly update software and devices to ward off any security vulnerabilities.

Train yourself NOT to click on suspicious links or attachments in emails or messages. Investigate.

Verify the identity and legitimacy of any callers or senders. Do this before providing any information or taking any actions.

Regular data backups prevent data loss in case of a cyberattack.

Spend the money to establish a reliable cyber insurance policy that covers your specific needs and risks.

Report any suspicious or malicious activity to the relevant authorities.