Anticipating Surges in Cyber Attacks and Bolstering Your InfoSec Defenses in 2024

In the ever-evolving landscape of the digital world, the threat of cyber attacks looms larger than ever. As we step into 2024, the cybersecurity landscape is expected to witness a significant surge in attacks, bringing with it increased financial repercussions and potential disruptions. This concern is underscored by recent reports from JPMorgan Chase, revealing a notable uptick in attempts by hackers to infiltrate its systems over the past year. This alarming development highlights the urgency for individuals and businesses to fortify their defenses against cyber threats.

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Escalation of Cyber Threats

‍As technology advances, so do the tactics of cybercriminals. JPMorgan Chase's acknowledgment of a substantial increase in cyber attacks reflects a broader trend, with attacks becoming more sophisticated and pervasive. From targeted phishing attempts to ransomware attacks, the potential risks in 2024 are diverse and ever-evolving. The need for vigilance and robust cybersecurity measures has never been more critical.

Threat Areas for 2024

In 2024, preventing Ransomware and Malware is paramount, especially for our smaller clients. Phishing, particularly with the threat that AI poses as a new tool for scammers, is another significant concern. Lunavi recommends implementing firewalls or other unrecognized email sender protections to combat this threat. Attacks across all industries will only continue to rise because they are more scalable.

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‍The Rising Cost of Cyber Attacks

Not only is the frequency of cyber attacks growing, but the financial repercussions are also skyrocketing. Recent reports indicate that the average ransom payment in 2023 was $1.54 million, nearly double the figure from 2022 and almost ten times the average in 2020. This alarming trend emphasizes the significant financial impact that cyber attacks can have on organizations.

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Preventive Measures to Safeguard Against Cyber Threats

1. Educate and Train Personnel: Security starts with people. Even with the latest technology, if your employees are not prepared for cyber attacks, your defenses won't be as effective. Investing in cybersecurity training for employees is crucial. Lunavi emphasizes the importance of enhancing awareness about potential threats, promoting the importance of strong passwords, and providing guidance on identifying phishing attempts.
2. Implement Multi-Factor Authentication (MFA): If you're not using MFA today, your organization is vulnerable. It's like leaving a key under your mat– somewhat secure, but not that secure. Lunavi strongly recommends the implementation of MFA as an extra layer of security, significantly enhancing protection against unauthorized access.
3. Lunavi's Managed Services: Lunavi's ITOM, IaaS, and managed security services ensure that your systems are up to date. Keeping up with updates and patches is crucial to prevent discovered exploits from being used against you. With Lunavi, you can keep your business safe without the effort of being a security SME.
4. Backup Data Regularly: Lunavi leverages Veeam to back up any servers, whether cloud-based or on-premises. Backup is as common sense as wearing your seatbelt – every company needs a backup policy in place. "The cloud" is not a replacement for backup. Microsoft itself states it's not responsible for lost data within the cloud, even for non-malicious attacks. Having a backup should be part of any security plan, as you need a plan for when everything else goes wrong.
5. Protect Endpoints: With the future bringing more endpoints and access, it's crucial to have the proper solutions in place to prevent bad actors. Lunavi emphasizes the importance of protecting endpoints to keep your business running smoothly and your customers happy.
6. Maintain Security Vigilance: Security is a 24/7 endeavor. Just because you made efforts last year to "secure" your business doesn't mean you can take this year off. The constant evolution of technology means you need to review your security plan regularly. If you're not auditing at least twice a year, you're taking serious risks or at least not aware of what risks you could be facing. Companies that don't feel capable of making these efforts should partner with Lunavi. Our team can focus on the constant changes in the security world and ensure that our partners are protected.
7. Seek Expert Assistance: If there's anything that you feel out of your depth on, it's crucial to find a partner to work with you. Lunavi's process focuses on implementation and education. We aim to set you up for success and enable you to run your program independently, with or without us.

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As we prepare for the anticipated surge in cyber attacks in 2024, the responsibility falls on individuals and organizations to proactively address cybersecurity challenges. The evolving threat landscape underscores the need for informed decision-making and the implementation of preventive measures.

Understanding the unique nature of your organization's cybersecurity needs is paramount. Lunavi stands ready to partner with you in fortifying your defenses against cyber threats. Our team of experts, backed by years of experience, can tailor a comprehensive cybersecurity strategy aligned with your specific requirements.

Don't navigate the storm alone; reach out to Lunavi today to embark on a journey towards a more secure digital future. Build resilience, stay informed, and let Lunavi be your trusted ally in safeguarding against the ever-evolving landscape of cyber threats. Together, we can establish a robust cybersecurity posture that stands resilient against the challenges of tomorrow.

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Further Reading:

• Forbes article by a cybersecurity CEO about the same:     The Cyber Threats Every C-Level Exec Should Care About in 2024
• Techopedia article on cybersecurity trends:     Cybersecurity Trends
• CNN article on JPMorgan Chase's cyber attack     challenges: JPMorgan Fights Off 45 Billion Hacking Attempts Each Day
• Backblaze article on the true cost of ransomware

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