Navigating the 2024 Cybersecurity Threat Landscape: Strategies for Today and Tomorrow

Cyber threats have come a long way since I started my first IT job — a help desk support position — over 25 years ago. The internet had just arrived and computers dialed into the internet. My job was to help users configure the “dial-up networking” settings on their computer so they could get connected and “surf” the web. This was a time when security wasn’t a concern, but connection was. Times certainly have changed.  

Over two decades into my career, I’ve seen digital advancements become the cornerstone of global connectivity and innovation, but the cyber threat landscape has evolved just as quickly. The velocity of change presents intricate challenges and vulnerabilities for individuals, organizations, and nations. The landscape we find ourselves in today demands an understanding and proactive approach toward cybersecurity, emphasizing the need for adaptability and vigilance in safeguarding digital assets. 

This first in my series of articles breaks down five popular and emerging threat trends from social engineering and third-party exploitation to AI-driven attacks. In the coming months I’ll be doing deeper dives into topics like these and other priorities for the modern CISO.

5 Cybersecurity Threat Trends to Have on Your Radar

There have been many trends of attack vectors in the past few years, but five of them really stick out. Although there were certainly more than five types, these are some of the most popular and emerging threats:

• Social Engineering Attacks
• Cloud Attacks
• Third-Party Exploitation
• Unmanaged and Outdated Systems
• AI-Driven Threats

1. The Perpetual Challenge of Social Engineering Attacks

At the heart of cybersecurity threats lies the persistent and evolving danger of social engineering attacks. These deceptive maneuvers target the most unpredictable element of security systems: the human factor. Phishing, spear-phishing, vishing (voice phishing), and even physical deception strategies have grown in sophistication, aiming to manipulate individuals into voluntarily surrendering sensitive information or access credentials.

Social engineering tactics often exploit psychological vulnerabilities, leveraging trust, authority, urgency, or fear to prompt action. The success of such attacks underscores the necessity for continuous education and training on recognizing and responding to these threats. Organizations must foster a culture of security awareness, where skepticism and verification processes become second nature to every individual.

I often tell the story of a social engineering assessment I participated in years back. Carrying four boxes of Krispy Kreme donuts, I was able to tailgate my way into the corporate headquarters of a large retail organization. After entering the building (obviously, anyone would hold a door open for the donut guy), I was able to make my way to an empty cubicle, set up my laptop, and connect to the network through a network jack at the desk. Hours later, I walked out with a full vulnerability scan of the network. Fortunately, I was hired to do this — but only a few people knew. By leveraging people’s kindness and making them believe I was bringing donuts for the staff, they let me in the door — and that’s all the opportunity I needed.

2. The Rising Significance of Cloud Security

Over the past ten years, we’ve seen a huge migration to the cloud. During the pandemic, this migration happened even faster. Businesses had to make the choice to migrate quickly or go out of business because employees and clients were not able to access data easily.

The migration of businesses and critical infrastructures to cloud-based solutions has highlighted the importance of cloud security. This transition has not only offered scalability, flexibility, and efficiency, but has also introduced a new dimension of vulnerabilities and attack vectors. The cloud environment presents unique challenges — including data breaches, compromised credentials, and account hijacking — alongside the potential for increased attack surfaces due to misconfigurations and inadequate access controls.

Addressing these challenges requires a cloud-centric security posture that integrates robust encryption, multi-factor authentication, and end-to-end visibility across cloud environments. Organizations must adopt a shared responsibility model, understanding that while cloud service providers maintain the security of the cloud infrastructure, clients are responsible for securing their data within the cloud.

3. Third-Party Relationship Exploitation: A Hidden Frontline

One commonly overlooked attack vector is trusted third parties. Supply chains, vendors, and service providers can become vectors for cyberattacks, offering attackers a backdoor into otherwise secure environments. The exploitation of third-party relationships underscores the need for a comprehensive security strategy that extends beyond an organization’s immediate perimeter. Think about it for a second: What do your third-party vendors have access to? Do they have access 24/7? Who are they sharing access with? Are you doing your due diligence in making sure they themselves have a strong cyber security practice?

Implementing stringent security assessments, continuous monitoring, and contractual obligations around cybersecurity practices can mitigate the risks posed by third-party associations. Organizations must also cultivate a collaborative approach to cybersecurity, encouraging partners and suppliers to adopt and maintain high security standards.

4. The Stealthy Menace of Unmanaged and Outdated Systems

Unmanaged devices and systems that have reached their end-of-life represent significant security liabilities. These systems often lack the latest security patches and are no longer supported by vendors, making them prime targets for attackers seeking to exploit known vulnerabilities. The challenge is further compounded in environments where devices are not regularly inventoried or managed, allowing these weaknesses to persist unnoticed.

Mitigating risks related to unmanaged devices and systems requires a proactive asset management strategy, ensuring that all devices are accounted for, monitored, and updated or replaced as necessary. Organizations should also consider the implementation of network segmentation to isolate legacy systems, minimizing the potential impact of a breach.

I can’t tell you how often I’m still finding end-of-life systems on security assessments.  Many times, the client doesn’t even know these systems exist! This in turn, goes back to having a strong inventory list of your digital assets. You can never protect what you don’t know exists.

5: The Future Landscape of AI-Driven Threats and Human-Centric Attacks

Looking towards the future, the cybersecurity landscape is poised to become increasingly complex with the advent of AI and machine learning technologies. While these advancements promise significant benefits in threat detection and response, they also open the door to more sophisticated attacks. AI-driven phishing campaigns, for example, could leverage natural language processing to create highly convincing and personalized messages at scale.

The increasing reliance on AI highlights the importance of developing adaptive, intelligent security measures capable of anticipating and countering evolving threats. Additionally, the human element of cybersecurity remains a critical focus, with social engineering expected to leverage technological advancements to exploit human vulnerabilities further.

Cybersecurity as a Foundational Business Concern — Cultivate a Culture That Acts Accordingly

Simply put, Cybersecurity is a business concern, not just a technical concern. The implications of a breach extend beyond immediate financial losses to reputational damage, legal liabilities, and long-term business viability. 

Creating a resilient cybersecurity posture involves a strong strategy, incorporating advanced technological defenses, comprehensive policy frameworks, and a culture of security awareness. It also requires a recognition of the interconnectedness of the digital ecosystem, where the security of one is intertwined with the security of all. Here are two ways to move the needle:

• Fostering Leadership and a Culture of Security. It is the role of leadership to build a strong security culture. Leaders must leverage cybersecurity initiatives, demonstrating a commitment to security that flows throughout the organization. This involves leveraging resources effectively, prioritizing talent retention, and continuously growing new leaders who are good at balancing technical security measures with strategic business objectives. Encouraging an environment where security is everyone’s responsibility and fostering continuous learning and mentorship can build a strong security culture.
• Talent Development and Retention: Building the Human Firewall. Most compliance frameworks call for security training once a year for staff. If we look back, most breaches are caused by us, humans, through social engineering. Even so, we continue to spend our time and resources into hardening our digital assets by investing in more technology. Although this is good, we are overlooking our most vulnerable asset, humans. It is extremely important to ensure that by building a strong culture, we continue to do security training more than once a year. By keeping ourselves current with the cyber security landscape, we keep the firmware updated on our human firewall.

Toward a Unified Approach to Cybersecurity

As we navigate the complexities of the cybersecurity landscape in 2024, it becomes clear that a siloed approach to cybersecurity is no longer viable. The interdependencies of modern digital ecosystems require a unified, collaborative approach to cybersecurity, involving all stakeholders, from employees and leadership to partners and vendors. 

Embracing a culture of continuous learning, proactive risk management, and shared responsibility is essential in forging a resilient cybersecurity posture. By integrating cybersecurity into the core fabric of organizational strategy and operations, businesses can navigate the digital future with confidence, safeguarding their assets, reputation, and trust in an ever-evolving threat landscape.