Predictions for 2024: Which Cyber Scams Will Be on the Rise?

Cybersecurity is a fast-paced industry with new threats emerging every day.

Moreover, the meteoric rise in artificial intelligence and the increasing number of people working remotely online pose additional challenges in keeping pace with all the latest scams.

But by looking at the latest research, experts have made some predictions on what cyber scams will likely be the key players.

In this article, you will discover the most common cyber scams for 2024.

You’ll learn how each one operates and vital statistics on how big a risk they pose. You’ll also learn effective safety measures you need to put in place to protect yourself online.

The Most Common Cyber Scams Predicted For 2024

Cyberattacks are more likely to be phishing, deepfakes, malware, or supply chain attacks. Let’s look at these types of cyberattacks in more detail.

1. Advanced phishing

Phishing attacks are when criminals impersonate legitimate people or services to hack you.

It is already one of the most common cyberattacks worldwide, starting in the mid-1990s.

Today, millions of people become victims of phishing. For example, one study in 2022 detected over 255 million phishing scams over just six months.

To phish, hackers will research aspects of your life to build trust with you in a conversation. After some time, the hacker will ask you to do something out of character. For example, they might ask to share personal information or send money.

The rise in AI technologies has meant that hackers can craft more convincing scams in less time. For example, messages can be tailored to different demographics and translated into other languages in seconds.

2. Deepfakes and misinformation

Deepfakes are a form of AI that creates images, videos, and audio of fake events but presents them as legitimate. They have become a major rising threat worldwide because of their ability to deceive, impersonate, and spread fake news. You will find them mostly on social media platforms.

Criminals can use deepfake technology to create various fraudulent things. This includes fake shopping scams, fake news articles, and pretending to be just about anyone they want to be.

Perhaps the reason why deepfakes are set to become a bigger problem in 2024 is because of politics.

In 2024, over 40 national elections will occur worldwide, from Taiwan in January to the USA in November, and opportunist criminals are likely to use technology to tap into political campaigns to defraud or influence voters.

3. New malware attacks

Did you know that over 5.5 billion malware attacks occur every year? It is one of the most common cyberattacks we know of – and it’s set to become even more deadly.

The main reason, again, is AI technology’s ability to teach new topics and gather information. Now, using AI learning models, inexperienced hackers can develop exploits that can go undetected – without having to learn any line of code.

Moreover, hackers can also use AI to predict people’s behavior during a cyberattack, meaning that attacks can often bypass traditional cybersecurity tools and training.

Every malware attack brings valuable lessons that are learned by developers. They continuously update their tools with new measures to stay ahead. However, the hackers always have the upper hand, forcing the software to play catch up.

4. Supply chain attacks

Whether you’re an individual or a company, you are only as strong as your weakest link. Supply chain attacks are when a hacker targets software or services you use. This is usually an entry point for a much more significant cyberattack.

Supply chain attacks are becoming increasingly common because modern-day software we use daily is often reused and recycled from old, open-source coding.

We’re talking about coding available to hackers to develop exploits around.

In their 2023 Cybersecurity Breaches Survey, the UK government found that just over 10% of businesses review risks from immediate suppliers and 8% from a broader supply chain, highlighting the need for more awareness around this growing threat.

How To Stay Safe Online In 2024

Despite cyberattacks becoming more sophisticated, you can improve your online security with security tools that are regularly updated. From using a virtual private network to antivirus software, you can ensure your devices and systems use the basics in cybersecurity best practices.

1. Strengthen your connections through a VPN

One of the best ways of protecting yourself online is by safeguarding your connection.

Avoid using unsecured public WiFi networks. Opt for a VPN.

A virtual private network (VPN) encrypts your connection, ensuring no one can snoop on your online activity. But to stay safe whenever you log on, you need one thing in particular – a VPN auto-connect feature. This ensures that a VPN connection is automatically established when you connect to any network.

2. Create stronger passwords across all accounts

The years might change, but one thing remains the same – the importance of a good password. This is because the more complex you can make your password, the more challenging accounts are to hack.

So, how exactly do you create a strong password? Firstly, aim to use at least 12 characters, combining upper and lower case letters to complexity, symbols, and numbers.

You should also avoid classic security pitfalls. For example, never repeat passwords between different accounts or use personal information like date of birth or pet name.

Use a strong password generator to make your passwords unique, and change them regularly.

Consider applying an additional layer of protection to significantly strengthen your defenses against unauthorized access and ensure the safety of your sensitive information. For example, use MFA with the popular Google Authenticator app.

3. Keep your antivirus protection in the conversation

As hackers develop new ways to attack us, developers and software engineers respond in kind.

Antivirus software is still one of the best ways of defending yourself against online threats – so long as you keep them updated.

Always ensure that you download and install updates as soon as possible. This will equip your device with all the security information it needs to patch exploits and remain vigilant against cyberattacks.

Many antivirus software options exist, including AVG, Avast, McAfee, Norton, etc.

Conclusion

Cybersecurity is changing all the time. But one thing that remains consistent is the need to protect yourself online with the latest software and best practices.

This article has shown some key indicators of what cyberattacks you will most likely face in 2024.  See our Telco Innovations article for more insight into future cybersecurity challenges.

From elaborate phishing to supply chain attacks, deepfakes, and malware, knowing what you’re up against is the first step in staying safe.

Then, by implementing simple but effective cybersecurity measures and providing regular user training, you’re setting your business up for the best defense in 2024.