As we mark the end of cybersecurity awareness month, let's take a look at some of the cybersecurity trends we will see on the rise in 2024:

1. AI and Machine Learning in Security: The use of AI and machine learning for both defensive and offensive cybersecurity measures is likely to continue to evolve. AI-driven attacks and defenses will likely become more sophisticated.

2. Zero Trust Architecture: The adoption of a zero-trust security model is expected to increase, where no entity, internal or external, is trusted by default. This concept of continuously authenticating adds a thicker layer of security.

We know there are a myriad of different types of cyber attacks that have evolved over the years. From ransomware to phishing, the list grows as hackers become more sophisticated.

Las Vegas' MGM Grand was hit with a major cyber attack in September that lasted several days affecting IT systems, hotel keys, casinos and other digitally-driven resouces, which, to say the least, threw a wrench into the experience of many of the visitors there during that period. 

One might wonder how an organization as large and prominent as the MGM grand could be hit with such a massive attack (which resulted in the loss of around $100 Million) and it almost always comes down to the attack vector. In the case of the MGM Grand, it was reported to have been an attack that originated through social engineering where an unassuming employees were duped into disclosed sensitve information that ultimately resulted in the onslaught of this widespread breach.

As cybersecurity prevention tactics continue to evolve and adapt to current trends, we've seen new terms thrown into the mix in conversation such as Endpoint Detection and Response (EDR) and Extended Detection and Response (XDR). In IBM's 2022 Cost of a Data Breach Report, analysis on XDR trends were covered for the first time, highlighting the trend towards modernized cyber security solutions. It noted that out of all the organizations that were interviewed as part of the developmental phase of the report, 44% said they were actively using XDR technology and that they were able to contain a breach almost an entire month quicker than if they had not implemented XDR.

So, while we know that EDR and XDR are both methodologies that help combat cyber threats at an organizational level, there are some key differences between the two:

The cyber threats landscape in the past few years has redefined how organizations secure and protect critical systems, assets, proprietary assets, and business and customer data. As a result, cyber resilience is not only an exclusive role of the IT and security professionals. Rather it is a company’s shared responsibility to identify and mitigate cybersecurity risks to achieve operational sustainability and strategic viability. In the current volatile IT and digital environment, cyber resilience should comprise measures of how enterprises anticipate, identify, understand, and recover from the impacts of a cyberattack.

It's hard to believe that we are already just a few months shy of 2023. In this mid-year review, we take a quick look at the current state and continued evolution of cybersecurity. The corporate landscape is awash with news of organizations that have fallen victim to costly ransomware attacks, social engineering scams, data breaches and leakages, and malware attacks that have caused costly consequences, such as damaged reputation, huge fines, and disrupted business operations. Therefore, if your company does not want to make headlines tomorrow, it is essential to remain abreast of the mid-year cybersecurity trends and statistics in 2022.

Penetration testing and vulnerability scanning are vital for enhancing an organization’s cybersecurity postures. However, most businesses are confused about differentiating the two services. For example, a vulnerability scanning process looks for existing security weaknesses and vulnerabilities, such as unpatched systems, lacking authentication schemes, misconfigurations, and weak password security, and reports them as potential exposures. On the other hand, a penetration test looks to exploit identified security weaknesses in the organization’s systems and IT network architectures to determine the extent to which an attacker would compromise your assets. Also, a vulnerability scan often utilizes automated software programs and tools, whereas a penetration test is a manual process carried out by a security expert.

Cybersecurity threats have increased twice in the global supply chain, impacting consumers and enterprises. Supply chain attacks have evolved tremendously in recent years, reaching new levels of frequency and sophistication. Nation-state attackers and cybercrime groups target supply chains to carry out extensive espionage and large-scale extortion cyberattacks. According to Gartner, 45% of companies will likely experience software supply chain attacks by 2025, three times more than in 2020. Therefore, it is critical to understand the top supply chain cybersecurity threats and how you can mitigate them.

The COVID-19 pandemic caused many companies to adopt remote working strategies in line with social distancing and isolation regulations implemented to combat its spread. As of March 2021, approximately five million Canadian workers, or 20% of Canadian employees, were working from home. In contrast, only 4% of employees worked remotely in 2016. Now, most COVID restrictions have been lifted, but many companies have allowed their workforce to continue working remotely. A 2021 study found that only 9% of Canadian workers expressed interest in working from the office fully, 15% wanted to work from home all the time, while 40.8% of workers suggested a hybrid working model.  

The Canadian Government has joined other countries in toughening sanctions against Russia amid the ongoing Russia-Ukraine conflict. However, Russia has insisted it will retaliate against countries that meddle in the conflict, placing the Canadian Government as a potential target of Russian-sponsored attacks.

Other than Russian cyber threats, the Canadian Government is a prime source of attacks from other state-nations and cybercrime groups. In addition, the Government is responsible for securing critical infrastructure and spearheading efforts to enhance national cybersecurity preparedness. Therefore, cybersecurity for Government is essential to thwarting cyber espionage and attacks targeting critical infrastructure.

Countries use cyberattacks as a tool for modern warfare, and the concept has been used extensively in the Russia-Ukraine conflict to spread disinformation and demoralize opponents. On the day Russia started the invasion, some critical Kyiv websites, including the government, parliament, and Foreign Ministry sites, were offline and inaccessible. Certainly, Russian hackers launched large DDoS attacks to overwhelm the infrastructure and crash the websites. In addition, Ukraine blamed the Kremlin for a data-wiper malware found on Ukrainian computers, which echoed the NotPetya malware attack in 2017 that severely impacted the Ukrainian economy. With heavy fighting raging in Ukraine, cyberspace has turned into a secondary battlefront.