Just a decade ago, it would have been unthinkable that ransomware would affect over 70% of businesses worldwide, but here we are. Put simply, no company—not even a small business—can afford to keep thinking, “It won’t happen to us.” Being aware of trending network security threats and solutions is vital to protecting your business and your customers.
Top Network Security Threats for 2024
In 2024, technology has grown at a lightning pace. Cybercriminals have taken advantage of this, and many businesses need help keeping up.
1. Social Engineering
Of all the attack surfaces for cybercriminals, personnel are often the weakest link. Passwords aren’t effective if attackers employ social engineering tactics to trick employees into providing access. Phishing attempts take many forms:
- Emails that seem to come from an official source, such as the IRS, but belong to criminals
- Links that take users to false sign-in pages to capture login credentials and MFA cookies
- Spoofed IP addresses to make it seem like password reset requests come from inside an organization’s network
- Text messages that seem to come from a manager or coworker, with instructions to authorize funds
According to the FBI, phishing attacks were by far the leading type of cyberattack in 2023.
2. State-Sponsored Cyberattacks
Network threats don’t only come from isolated teams of hackers anymore. Government-backed attacks increase the risk of data breaches and sabotage for critical industries. Nation-state cyberattacks are hazardous because the teams behind them have virtually endless resources, including cutting-edge tech.
3. Internet of Things Vulnerabilities
Manufacturing industries are the target of one-quarter of all cyberattacks. One reason is legacy IoT devices — such as programmable logic controllers — that require effort and money to bring up to date with modern cybersecurity standards.
4. Supply Chain Attacks
Modern businesses of all sizes use third-party platforms, from CRM software to cloud-based apps. The SolarWinds breach showed that these platforms can create gaping holes in your network defenses if vendors don’t follow good computer and network security practices.
5. DNS Tunneling
Internet functionality relies on DNS, so many anti-malware systems are less aggressive with DNS packets. Hackers take advantage of this to embed malicious data in DNS traffic and open a “tunnel” between infected websites and network systems. Defending against tunneling requires establishing secure protocols, such as limiting string lengths and blocking suspicious IPs.
6. Man-in-the-Middle Attacks
MitM attacks involve hackers intercepting communications between users and online portals or applications. The goal is stealing credentials, credit card info, or private communications. Malicious email links, fake websites, and compromised public wifi or Bluetooth hotspots are all potential triggers.
7. Network and Cloud Configuration Errors
Human error is responsible for 8 out of 10 data breaches. Some organizational IT mistakes seem glaringly obvious after the fact, such as:
- Forgetting to change default passwords
- Misconfiguring administrator settings
- Incorrectly setting up firewalls
- Configuring private networks or sensitive folders as public
To avoid this problem, all software and network configurations should be verified by experienced IT personnel.
8. AI-Powered Cyber Threats
Roughly 80% of industry professionals say AI-powered cyberattacks are the top threat to businesses. AI has increased the volume and complexity of cyberattacks. Hackers can automate attacks. Generative AI can make phishing messages sound more convincing with deepfake audio and video that seem real.
9. Mobile Device Vulnerabilities
Allowing remote workers to use mobile devices to access company systems is a network security nightmare. Device theft, poor user security settings, shady apps, and outdated OS are just a few reasons why mobile device management is essential to maintaining network security and protecting company data.
Computer and Network Security Best Practices for 2024
Cyber threats are serious, but it’s important not to ignore the tremendous strides global organizations have made in computer and network security. Following cybersecurity best practices has helped countless businesses avoid, defend against, and adapt to evolving threats.
Use an OSI Model To Identify Vulnerabilities and Implement Solutions
One of the most effective defenses is simply being aware of your vulnerabilities. The first step is to conduct an open systems interconnection audit. The OSI model analyzes seven system layers for “cracks”:
- Physical: Network cables, routers, etc.
- Data link: Data transfer within a network
- Network: Packet transfer between different networks
- Transport: Data flow and error control
- Session: Start and end of communication
- Presentation: Syntax, encryption, decryption, compression, etc.
- Application: User interactions
Similar to the way pickpockets are less likely to target tourists who are alert, taking steps to strengthen your weaknesses reduces your chances of a data breach significantly.
Invest in Cybersecurity Monitoring Services
The larger your organization is, the greater the chances of employees somewhere making a mistake that opens a security vulnerability. With cybersecurity monitoring services, IT professionals can detect suspicious activity, flag warning signs, and take action in real-time. Acting quickly can prevent a data breach entirely or mitigate the damage significantly.
Create Detailed Post-Attack Mitigation Strategies
Modern cybersecurity frameworks don’t just recommend building strong defenses. They also require companies to plan for “what if” scenarios. In the event of a data breach, less data is lost. With good cyber resilience, company operations can keep going while IT eradicates the threat.
Follow a Zero-Trust Architecture for Vendors
Zero trust principles mean verifying all network traffic, endpoints, and employees. This includes vendors, remote workers, mobile devices, office computers, and even executives. Firm authentication measures are a powerful defense against malware, phishing, ransomware, and hacking.
Store Critical Data in Encrypted Backups
Unless data needs to be stored in searchable text for regulatory compliance, your company’s default security posture should be to encrypt all sensitive data. Be especially vigilant in encrypting data backups, client information, business financial data, and payment card information.
Get Help From Experts in Network Security Threats and Solutions
If you struggle to keep up with cybersecurity demands, we understand. It is challenging to simultaneously find trustworthy personnel, manage employees, and ensure network security. That said, investing in cybersecurity isn’t optional anymore. It’s just as important as business insurance.
At CIO Tech, we have decades of experience helping businesses prepare for cyber threats, shore up vulnerabilities, and implement state-of-the-art solutions. From OSI strategy to 24/7 network monitoring, our IT team enables you to manage network security threats and solutions effectively. Contact us right away to plan your next steps.
