Third-party data breaches have gained widespread attention due to the extensive supply chain involved in data collection and storage. The increasing trend of outsourcing data and technology solutions creates vulnerabilities several degrees away from the source, making systems susceptible to attacks.
Digital transformation has expanded threat surfaces, with SaaS platforms and public cloud infrastructures extending the perimeter into the internet. This shift exposes users to greater risks.
In pursuit of goals, hackers are embracing incremental strategies for impactful results. Rather than opting for high-profile ransomware attacks, cybercriminals manipulate small data elements to avoid detection, such as altering currency rates or transportation coordinates, demonstrating the potential for significant impact.
Globally recognized sponsors of cyberattacks may face new competition from a South Asian country with a large population of engineers and programmers. Despite initially focusing on regional cyberattacks due to political tensions, this country may broaden its scope on the international stage.
Rare earth materials like plutonium, terbium, and silicon wafers, crucial for modern hardware, are becoming highly sought-after resources. Disruptions in the strained supply chain could lead to widespread industry and economic consequences, providing an opportunity for threat actors seeking mass disruption or nations aiming to control markets.
“Cybercriminals are continually working smarter, not harder,” emphasizes Michael Bruemmer, VP of Global Data Breach Resolution at Experian. Leveraging technologies like artificial intelligence, hackers strategically stay ahead, prompting organizations to remain vigilant against even minor security abnormalities.
Similar to drug cartels, cybercriminal organizations are evolving into sophisticated entities, forming alliances globally. Countries may collaborate to advance common goals, leading to an increase in cyberwarfare alliances and hackers for trade.
In 2024, threat actors may target publicly traded companies to gain insights for stock market manipulation or strategic planning. Instead of operating underground with stolen data, cybercriminals might leverage data extraction openly, posing as everyday investors.
Jim Steven, Head of Crisis and Data Response Services at Experian Global Data Breach Resolution in the United Kingdom, emphasizes the need for companies to invest in sophisticated prevention and response methods to counter the diverse threats posed by global crime syndicates and nation-backed operations.