Imagine your company becomes a target for cybercriminals: production data is stolen, logistics systems are paralyzed, payment systems are blocked, and clients and partners lose time and precious trust in you. According to forecasts, by 2025, more than 67% of small and medium-sized businesses could find themselves in this unenviable position, with total financial losses from cyberattacks potentially reaching $10.5 trillion; moreover, 95% of these incidents are related to human errors. These figures clearly demonstrate how real and significant the threat is for businesses of any level.
The facts are that with each passing year, cybercrime becomes more dangerous and sophisticated, and with the advancement of technology, cyberattacks are no longer a complex task only for prodigies. Technologies are already available as services for such dubious tasks, but that’s not our focus now. Let’s concentrate on the fact that companies need not only to respond to attacks but also to anticipate them using advanced tools. For such cases, smart solutions like a cyber security threat intelligence platform exist, which can help protect the business and prevent potential threats.
Emerging Threats in 2024
Businesses are finding it increasingly challenging to meet the cybersecurity requirements set by industry standards. According to all forecasts, this trend will continue in the foreseeable future, and companies should expect several new challenges. For example:
- Increase in Supply Chain Attacks
Hackers are expected to increase their attacks on suppliers and partners to infiltrate the systems of larger organizations. For instance, the SolarWinds attack in 2020 affected thousands of companies and even government agencies.
- Artificial Intelligence as a Threat
Cybercrime will increase the number of attacks using AI and significantly enhance their methods. AI is already being used to craft realistic phishing emails, execute automated attacks, and deceive security systems; next in line are attacks using deepfakes for blackmail, fake voice commands to hack voice assistants, and adaptive attacks that “learn” from countermeasures.
- Increase in Cloud System Attacks
With the rapid growth of data migration to the cloud, hackers have increased the number of attacks on these platforms to gain access to sensitive information—particularly from smaller partners of large companies. This trend is likely to continue.
Many businesses do not monitor their supply chains, do not invest enough in cloud systems, and underestimate the risks associated with AI. Mostly, these are small and medium-sized enterprises, 57% of which consider themselves “too small to be a target.” However, they are actually the most attractive in terms of gaining easy access to your larger partners. According to a Verizon report, 43% of all attacks target small businesses, and this number continues to grow.
Three essential cybersecurity rules for protecting your business
Below are three basic rules that will save your nerves and protect your business:
- Supply Chain Monitoring: Every supplier should be thoroughly checked for security using appropriate tools, such as ImmuniWeb.
- System Security with AI: Use AI to prevent and detect attacks in real time, for example, Darktrace or IBM Watson for Cyber Security.
- Cloud System Security: Regularly conduct audits, data encryption, and multi-factor authentication sessions—this helps reduce risk levels.
Some companies believe that outsourcing cybersecurity will be a panacea for all evils. However, outsourcing providers have one peculiarity—they cannot focus on the unique features of their clients’ businesses, and their solutions do not cover the full spectrum of risks. Clearly, success in combating cyber threats will depend on the level of foresight companies have in anticipating hackers’ moves as targets for cyberattacks.
Why Traditional Security Measures Are No Longer Enough
The exponential development of technology leaves no room for doubt: cyber threats are becoming increasingly dangerous, and traditional security measures are becoming obsolete before they can even counter the threats.
For example, antivirus programs in their classic form are already ineffective against modern threats. For today’s polymorphic viruses and targeted attacks that change their form to bypass security measures, classic systems are useless. Similar problems exist with perimeter security systems. Nowadays, with remote work and cloud technologies becoming the norm, the boundaries of corporate networks have become more blurred, making perimeter security even weaker.
Relying on old protection methods is akin to leaving the door open for a burglar. Hackers easily bypass traditional security measures such as basic authentication methods or simple firewalls.
More than 60% of companies close within six months after a successful hacker attack. To avoid becoming part of this statistic, here are two main rules to meet modern requirements:
- Implementing a Threat Analysis Platform. For organizations that have integrated such cyber threat analysis systems as ImmuniWeb, it becomes possible to identify and eliminate threats before they occur. These platforms study the behavioral patterns of attackers, identify new vulnerabilities, and immediately provide recommendations for their elimination.
- Employee Training. As already mentioned, the human factor remains the weakest link as the cause of effective cyberattacks. Therefore, it is important for organizations to constantly inform their employees about security practices and procedures.
Why trust this new approach? A Statista study showed that in 2024, threat analysis and data classification became a priority for IT security departments of most large companies. They set trends to organize the protection of information systems in accordance with industry requirements.
Practical Steps to Fortify Your Cyber Defenses
The modern concept of cybersecurity encompasses not only the implementation of technologies but also requires many other actions such as threat detection automation, authentication strengthening, and proactive identification of cyberattacks. Here are a few additional steps that should help enhance security:
- Regular Vulnerability Assessments: Periodic system checks allow you to identify vulnerable areas in advance and address them to minimize the risk of malicious exploitation.
- Incident Response Plans: Having a clear set of instructions helps understand what to do in each specific attack scenario. For example, creating isolation systems for affected systems and notifying clients and other partners.
- Regular Threat Analysis: Using tools for cyber threat analysis allows you to anticipate attacks and take preventive measures before they cause damage.
According to Sophos research, the average time an intruder stays in a corporate network before being detected is 11 days, with a maximum of 439 days. At the same time, companies that use automated solutions detect threats three times faster, as malicious behavior patterns reveal the intruder. This significantly reduces financial risks, and the intuitive interface of threat analysis platforms makes them attractive to companies without extensive technical expertise.
Conclusion
To summarize: cyber threats continue to evolve and become more dangerous. Small and medium-sized businesses are becoming increasingly attractive targets for attacks, and traditional protection methods are no longer sufficient. Therefore, the use of threat analytics and modern solutions is becoming a key tool in the fight against cyberattacks. The intuitive interface of modern security solutions can be adapted to any budget. Stay one step ahead of threats—find out how our Cyber Threat Intelligence Platform can help protect your business today.
