Top 5 Data Security Incidents of 2023 and Predictions for 2024

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Top 5 Data Security Incidents of 2023 and
Predictions for 2024
https//cybernewslive.com/
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Summary Notable trends and threats emerged in
the cyber landscape of 2023, shaping cyber
securitys direction. The growth of generative
AI, as exemplified by applications such as
ChatGPT, represented a watershed moment for
artificial intelligence, demonstrating its
potential while also introducing new concerns.
The Zscaler ThreatLabz teams investigation
revealed an increase in AI/ML traffic and usage
across companies, but this widespread adoption
also presented issues. Ransomware attacks
increased by 37 in 2023, indicating a shift
towards encryption-less approaches, as
demonstrated by the Clop ransomwares enormous
data theft using the MOVEit tool. Social
engineering tactics became trickier with the
integration of AI, emphasizing the need for
heightened vigilance. The emergence of a new
security paradigm, zero trust architecture,
became imperative in response to outdated
protective measures.
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As we transition to 2024, predictions foresee
increased AI-powered attacks, smarter ransomware
leveraging RaaS, rising MiTM threats, and
adaptive responses to evolving regulations.
Organisations are urged to fortify their
defences, adopt advanced security measures, and
embrace the dynamic landscape of cyber
security. Taking a backward look at the data
security landscape of 2023 reveals a year filled
with important incidents that have profoundly
impacted the cyber security narrative. As we
investigate the top five data security incidents
that occurred, we obtain vital insights into the
developing strategies of cyber attackers.
Furthermore, we look ahead to 2024, anticipating
the trends and problems that will shape the
forthcoming year in the field of data security.
Join us on this journey as we examine the past
and predict the possible situations that will
define the cyber security landscape in 2024.
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Rewind to 2023 Cyber Trends and Threats
1. The Evolution of Generative AI in 2023 Looking
back, 2023 was a crucial year for artificial
intelligence (AI), marking its significant rise
in our awareness. This period introduced both
exciting possibilities and risks through
generative AI technologies. Notably, applications
like ChatGPT showcased the transformative power
of AI and machine learning, changing how
organisations operate. In September, the Zscaler
ThreatLabz team analyzed AI/ML and ChatGPT trends
within enterprises throughout the year. They
found clear increases in both AI/ML traffic and
usage.
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However, the widespread adoption of AI has a
downside. Bad actors are now using AI to make
phishing attacks more sophisticated, create
hard-to-detect malware, and speed up the
development of threats in various areas. This
puts security leaders and organisations at a
crossroads, needing to find the right balance
between benefiting from AIs progress and dealing
with the challenges posed by AI-powered threats.
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2. Resurgence of Ransomware in 2023 In 2023,
ransomware had a big impact, becoming a worrisome
trend. ThreatLabz research showed a significant
37 increase in ransomware attacks. These attacks
demanded, on average, 5.3 million from
businesses, and payments went over
100,000. Ransomware groups became more advanced
in 2023. ThreatLabz noticed an increase in
attacks without encryption, making the process
smoother for attackers. Without encryption, they
could take data quietly before asking for a
ransom.
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A significant event in 2023 was the Clop
ransomware attacking the MOVEit file transfer
tool. This became the biggest data theft of the
year, affecting 83 million people and almost
3,000 organisations. It shows that the supply
chain is still a big vulnerability in business
security, highlighting the ongoing challenges
posed by evolving ransomware tactics.
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3. Trickier Tricks with Social Engineering Before,
tricks that exploit peoples vulnerabilities
were a problem, but now, with AI in the mix,
these tricks are even more dangerous. AI made
common tricks like phishing and smishing (SMS
phishing) more advanced and effective. In 2023,
there was a noticeable change more scams
involved voice messages, known as vishing (voice
phishing). ScatteredSpider, linked to the
BlackCat group, used this tactic and caused a lot
of harm, especially to the gaming industry. Last
year, we saw social engineering attacks changing
quickly, and this makes it harder to find and
stop them.
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4. The Rise of a New Security Approach The cyber
security challenges in 2023 highlight a clear
message for organisations they need to update
how they keep their information safe and adopt a
new way of thinking called zero trust
architecture. Old methods of securing
information, such as classic virtual private
networks (VPNs) and firewalls, cause more
difficulties than they solve. These methods not
only make it easier for cyber threats to attack
but also make it harder for organisations to deal
with advanced threats and the demands of cloud
technology.
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In 2023, there was a noticeable increase in
problems with VPNs, and almost half of the
organisations reported being attacked through
their VPNs. The good news is that 92 of these
organisations are looking into or already using
the zero-trust approach. This shows that more
organisations are recognizing the importance of
zero trust as a top priority in 2023.
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5. Trouble with Business Tools In 2023, bad
actors started targeting the companies that
provide essential tools for businesses. This
shows that the wider digital network that
supports businesses is becoming more vulnerable.
Many tools that businesses rely on every day are
connected, making them easier targets. The
reasons behind these attacks vary, from wanting
money to stealing important login information,
and sometimes even for political reasons in the
case of attacks by nations. This shift in focus
on these tools highlights the importance for
companies to go beyond just protecting their
systems. The solution? Having a more advanced
plan to manage risks from outside parties.
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2024 Predictions AI, RaaS, MiTM (and More)
1. AI-Powered Attacks on the Rise In 2024, we
expect more attacks using advanced AI technology.
AI-driven tools will be widely used by cyber
attackers to automate tasks like finding weak
points in systems, crafting fake emails, and
identifying vulnerabilities. This makes it easier
for them to carry out attacks on a larger
scale. The use of AI in cyber attacks is
concerning. There are reports of malicious
versions of AI tools circulating on the dark web,
indicating a potential rise in unethical AI use
in cyber threats. In the U.S., where its an
election year, its crucial to safeguard critical
systems against AI-powered misinformation and
other elusive attacks.
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To stay safe, organisations need to be extra
careful. This includes training employees to
recognize social engineering and AI-specific
threats, and holding vendors responsible for
providing secure AI-powered cyber security. Its
a matter of using advanced AI and other
techniques to protect our data, devices, and
networks against these evolving cyber threats.
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2. Ransomware Gets Smarter In 2024, we expect
ransomware attacks to become more advanced,
thanks to something called Ransomware-as-a-Service
(RaaS). This means even less skilled cyber
criminals can use sophisticated tools to carry
out successful attacks. Theres also a new trend
where brokers help criminals get unauthorized
access to networks, making it easier for them to
launch attacks. Instead of encrypting data,
attackers are using different tactics to avoid
detection, making it harder for organisations to
protect themselves. To stay safe from these
evolving threats, organisations need to focus on
a zero-trust protection plan that covers every
step of an attack, from the initial compromise to
the actual attack. Its all about being extra
cautious at every stage to prevent these smarter
ransomware attacks.
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3. Watch Out for Middle-of-the-Road Attacks In
2024, companies need to be careful about
middle-of-the-road attacks, also known as
Man-in-the-Middle (MiTM) attacks. These attacks
could become more common if organisations dont
have a strong security system, like zero trust
architecture. This is a concern because tools
for these attacks are now more accessible to
cyber criminals. To stay safe from MiTM risks,
such as unauthorized access and data theft,
companies must use advanced security measures.
This includes having a robust security system,
thoroughly checking data communication, and using
a special type of authentication called FIDO2
multifactor authentication (MFA). Without these
safeguards, organisations might have
vulnerabilities in how they communicate and
verify user identities. Therefore, in 2024,
companies must prioritize these security measures.
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4. Guarding Against Attacks on AI Systems In
2024, theres a danger of attacks targeting
vulnerable parts of AI systems. As different
components of AI systems become more connected,
both the starting and ending points could be at
risk. Attackers are figuring out new ways to
exploit weak points beyond the usual methods.
With companies increasingly using AI, especially
large language models (LLMs), concerns about the
security of the entire system are growing. If not
adequately protected, AI systems can become
targets for attackers looking to tamper with
training data, manipulate updates, or insert
harmful algorithms. This could provide a gateway
for attackers to access a companys data or
systems.
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To avoid these risks, companies must recognize
the importance of having a robust and secure
system, often referred to as a resilient supply
chain. Its vital to invest in protection against
the serious consequences of an attack on the
supply chain. This includes securing the parts of
the system connected to the internet and
implementing security controls to restrict
attackers movements. In summary, companies need
to approach this cautiously to protect not only
their own AI systems but also those of the
companies they collaborate with.
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5. Changing Attacks Because of New Rules When the
U.S. Securities and Exchange Commission (SEC)
introduces new rules, attackers might change
their tactics. The SEC now requires companies to
disclose important security breaches. In
response, attackers may become even sneakier.
They might use advanced methods to stay hidden,
like tricky evasion techniques and encryption, to
keep their access undetected for longer. Also,
they might target less important systems more
often to stay under the radar, gather
information, and quietly get more control. Trying
to avoid disclosing breaches right away,
attackers could focus more on exploiting
vulnerabilities in third-party and supply chain
systems. In short, the future might see attackers
adapting to these new rules with smarter and more
strategic approaches.
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Conclusion
Finally, the retrospective study of the top five
data security incidents in 2023 provides a
critical basis for understanding the complex
nature of cyber threats and their impact on
organisations. These instances demonstrate the
ongoing necessity for strong cyber security
measures in an ever-changing digital ecosystem.
Looking ahead to 2024, the forecasts offer a
proactive look at anticipated obstacles and
developing trends, directing stakeholders toward
strategic and adaptable security approaches. As
we approach the start of a new year, the insights
garnered from the past and the foresight
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