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Cyber security threats that will target networks in 2024

Nowadays, the need for network security solutions has increased exponentially. The new reality of Australian business is this – the number of data breaches within Australia has grown, and as a result, all organisations must be proactive when it comes to their cyber security. 

This article will look at the network security threats that companies are expected to come across in 2024, along with the importance of cyber security. With this knowledge, businesses and their employees will be able to better defend their critical IT infrastructure for safer processes and stronger information security. 

Why businesses need cyber security measures

With the rise of advanced technologies (such as artificial intelligence or AI) providing cybercriminals with new ways of operating, businesses are required to implement robust network security solutions to protect themselves from computer viruses, hackers, and other threats. A single data breach or cyber-attack can jeopardise an organisation’s standing, leading to less business and a damaged relationship with customers

Furthermore, with the new normal of remote work, employees are accessing company data from multiple locations/devices, widening the size of the business’s attack surface and increasing the risk of experiencing network security threats. Therefore, businesses need to be proactive when deploying and utilising network security solutions – the integrity of data and the safety of employees and customers is at stake. 

Network security threats to be wary of

Below are three cyber security threats organisations need to be wary of in 2024 and in the future:

Data breaches

A significant threat, data breaches occur when threat actors invade networks and gain access to confidential data, such as personal information. Data breaches can be caused by various risks, including weak passwords and insider threats. If left unchecked, a data breach can have serious ramifications for an organisation, including legal consequences and even closure.  

There are numerous network security solutions you can use to help minimise and prevent system breaches. For example, you can make it mandatory for your staff to use strong passwords that are routinely changed to lower the risk of unauthorised system access. Consistent network updates and robust access control measures (such as multi-factor authentication) will also contribute to a safer network.

Phishing attacks

A type of social engineering, phishing attacks are when malicious entities use fake messages to trick individuals into revealing sensitive data like login credentials. Phishing attacks are typically carried out through emails and text/instant messages. With the use of AI, the quality of phishing messages has improved, making them appear legitimate to bypass security measures.

An effective way to protect against phishing is to make security awareness training mandatory for all employees. These sessions teach participants about cyber security threats and how network security solutions can help safeguard organisations from them. More specifically, these programs give employees the skills and knowledge they need to identify the signs of phishing, what actions to take when phishing has been identified, and how to develop a security culture that values risk mitigation.

Cyber security vulnerabilities from third-party vendors

Third-party vendors serve as cyber security risks to your business when their network security solutions and procedures do not meet your standards. This is because third-party companies often integrate with their clients’ organisations at a network level, creating a possible avenue for exploitation. As such, in order to protect their sensitive information from potential vulnerabilities present within their third parties, businesses need to stay up to date on the type of data being shared with their vendors, along with the vendors’ cyber security postures.  

Monitor third-party access to stay informed of how accessible your organisation’s network and information is. Also, before starting a partnership with any third-party vendor, conduct due diligence to learn about their network security solutions. Make sure they have the types of network security tools that satisfy your compliance needs while proactively safeguarding their technology from cyber security threats. Implement security into the contract that you and the vendor will sign to solidify peoples’ expectations in writing.   

Bolster your cyber security and avoid network security threats in 2024 and for the future

As society continues forward, cyber security threats are going to become more sophisticated. To protect their employees and technology from these risks, organisations must deploy robust network security solutions that support real time monitoring and responsive actions. 

The cyber security professionals at Platform 24 can assess your business’s security posture and strengthen it with advanced, cost-effective security solutions. No matter if you need tools that bar malicious software, or you need a team that can maintain preventative measures for man-in-the-middle attacks, the Platform 24 team will ensure your network is updated and well-equipped to securely handle your company’s workflows.

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