As the digital landscape continues to evolve with the introduction of new apps and technologies, so does its accessibility to the public, especially with the upcoming Web 3.0. However, this increased accessibility also opens the door for threats in Cybersecurity caused by malicious entities. Considering this, businesses need to be proactive in recognizing Cybersecurity threats in 2024 to protect themselves from falling into the traps of cybercriminals. In this article, we break down a range of Cybersecurity threats to look out for and what can you do to be able to secure your business from them:
AI-Generated Scams
With proper human intervention, AI has done wonders for many growing industries, continually advancing with each iteration over the years. This includes elevated machine learning for content moderation, and improved generative features for texts and images. These advancements are so vast that they even help with Cybersecurity.
Artificial Intelligence today can be compared to a double-edged sword. While they can be used to aid in Cybersecurity, cybercriminals are also capable of using AI for their dirty work. AI Cybersecurity threats are becoming a trend with scammers using generative AI to impersonate important people in your business. They create compelling internet profiles that can be disguised as genuine individuals. They can then be used to befriend or connect with potential targets on social media, establishing their trust before asking for personal or financial information.
Scammers can also exploit AI through “Deepfakes,” where they generate convincing videos of individuals saying or doing things they never actually did. By employing advanced facial recognition technology, scammers can produce videos to disseminate false information. In recent news, a finance worker in China was tricked into giving 200 million Hong Kong dollars by a group of scammers who impersonated his superiors through a video call. The unsuspecting worker was invited to a call, with their supposed foreign partners, the man had let his guard as he genuinely thought he was talking to the right people. This news raises levels of concern now as authorities warn the people about such scams going around.
How to Spot Harmful AI-Generated Content?
While cybercriminals may be intensifying their efforts, the lack of proper expertise will inevitably exhibit inconsistencies, and the result will be noticeably different from authentic interactions. Here are some telltale signs to look out for when you suspect you are being targeted by AI-generated frauds:
- Inconsistent Writing. AI texts often lack distinction and “human” comprehension, while they may sound grammatically correct, they often lack a tone that coincides with human-written text.
- Distorted Features. AI-generated art often contains distorted features, from varying texture backgrounds to misshapen human features like the hands and fingers, always keep an eye out for these little things.
- Lacks a Creative Aspect. Current AI generation algorithms struggle with true creativity. They excel at producing variations based on existing data, but they may not be able to create entirely new concepts.
- Out of Sync Words. When inspecting video content, look closely at the actor’s lips or the hand movement usually, AI-generated content is often not coordinated. Keep a close eye on them when someone tries to impersonate your colleagues.
- Unnatural movements. Deepfakes would often have features that look unnatural, such as eye movement, hair placement, and mouth movements. Don’t be fooled by a seamless appearance. Inconsistencies, however minor, can expose a forgery just as effectively as major mistakes.
Device Vulnerability
The convenience of having mobile devices makes certain tasks like online banking and online shopping a breeze, but it also exposes our personal information to the naked eye. Cybersecurity threat levels arise with outside factors being involved such as devices connecting to public Wi-Fi, this puts you at risk, especially if you are running a business and unaware of these external threats.
How to Secure Your Devices?
To be able to secure your devices from external threats you must be able to secure your personal and business information from prying eyes. Taking simple precautions will make a stark difference to secure everything.
- Secure Connections. Although the accessibility of public Wi-Fi offers great ease, stop the bleeding at its source. Avoid connecting to unprotected connections as scammers often use unsecured Wi-Fi as bait to fish out your information.
- Use Strong Passwords. It is the simplest way to secure your personal information from potential threats. A strong password not only helps in securing your mobile devices, but it also secures your online accounts.
- Updated Software. Hackers often exploit outdated software to be able to access your information. Having updated software upgrades your digital security and blocks hackers from accessing your devices.
- Use a VPN. Investing in a VPN is a good solution to connect to other networks securely and it also shields your browsing activity from potential hackers.
Ransomware’s Presence Prevails
Ransomware remains a big concern in 2024, it has been one of the heinous activities that makes up the cybersecurity threat definition. Attackers are creating increasingly innovative extortion methods to target essential infrastructure in supply chains, corporate enterprises, and even small businesses. According to the World Economic Forum, “Ransomware activity alone was up 50% year-on-year during the first half of 2023 with so-called Ransomware-as-a-Service (RaaS) kits, where prices start from as little as $40, a key driver in the frequency of attacks.”
This pattern follows a troubling increase in activity throughout 2023, which shows no signs of stopping in 2024. This is why businesses need to keep an eye out for potential threats in their online vicinity.
How to Avoid Ransomware in 2024?
You should always be mindful of the data you hold. From your own passwords to your important business processes, following a few of these tips will help you secure and protect your data.
- Always have Backup Data. Storing your backup monthly helps you secure vital information at the time of need. Ideally storing them in a secure cloud and can be accessed offline.
- Enable 2-Factor Authentication. 2FA or 2-factor authentication can be a good security measure when accessing essential information and details from your personal accounts.
- Inspect Suspicious Links. Always keep an eye out for random messages and emails that promote promising rewards before you click on their links. Check for any unusual characters on the website links.
Investing in Cybersecurity
Many attacks can come in many forms, especially now that businesses are expanding to mobile applications for support. Be knowledgeable about all the new Cybersecurity threats to make your online business safe and secure. Knowing the possible threats keeps you alert in keeping your businesses away from cyber attacks. Investing in a good IT Team can not only secure your business, but it also helps in making cybersecurity threat analysis, this boosts customer confidence because your clients are aware of your system’s upgraded security.
Citations
Chen, Heather, and Kathleen Magramo. “Finance Worker Pays out $25 Million after Video Call with Deepfake ‘Chief Financial Officer.’” CNN, Cable News Network, 4 Feb. 2024, edition.cnn.com/2024/02/04/asia/deepfake-cfo-scam-hong-kong-intl-hnk/index.html.
HGS Offshore Staffing Solutions. “How Will Web 3.0 Change Your Business?” HGS OSS, 13 Mar. 2024, hgsoss.com/newsroom/how-will-web-3-0-change-your-business/
HGS Offshore Staffing Solutions. “The Top IT Roles To Consider.” HGS OSS, 15 May 2023, hgsoss.com/newsroom/the-top-it-roles-to-consider/
Ideta. “How Artificial Intelligence Has Evolved over the Years.” Ideta, 12 Jan. 2024, www.ideta.io/blog-posts-english/how-artificial-intelligence-has-evolved-over-the-years
Michael Page. “Why Companies Need to Invest in Cybersecurity.” Michael Page, www.michaelpage.com/our-expertise/information-technology-recruitment/why-companies-need-invest-cybersecurity
Null, Christopher. “What Is Device Vulnerability Management?” Tanium, 3 Feb. 2022, www.tanium.com/blog/what-is-device-vulnerability-management/
Owen, Quinn. “How AI Can Fuel Financial Scams Online, According to Industry Experts.” ABC News, ABC News Network, 12 Oct. 2023, abcnews.go.com/Technology/ai-fuel-financial-scams-online-industry-experts/story?id=103732051
Sayce, Scott. “3 Trends Set to Drive Cyberattacks and Ransomware in 2024.” World Economic Forum, 22 Feb. 2024, www.weforum.org/agenda/2024/02/3-trends-ransomware-2024/
Shank, Stefanie. “How to Secure Your Mobile Device: 8 Tips for 2023.” Tripwire, 28 Mar. 2023, www.tripwire.com/state-of-security/secure-mobile-device-six-steps
Stouffer, Clare. “What Are Deepfakes? How They Work and How to Spot Them.” Norton United States, 1 Nov. 2023, us.norton.com/blog/emerging-threats/what-are-deepfakes
Webwise.Ie. “Explained: What Are Deepfakes?” Webwise.Ie, 15 July 2022, www.webwise.ie/news/explained-what-are-deepfakes/
