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Technological progress has made cyberattacks invulnerable to security measures.
According to the latest data from the Computer Crime Research Center (CCRC), the amount of damage caused by cybercrime will reach $12 trillion by 2025. This figure exceeds Cybersecurity Ventures previous estimate of $10.5 trillion. CCRC cites research from CheckPoint and Orange Cyderdefense, highlighting the steady increase in cyberattacks and ransomware over the past year.
Researchers pay special attention to the growth of attacks caused by the use of artificial intelligence (AI). According to the Palo Alto research group, the misuse of AI has led to an increase in the number of malicious domain registrations. AI helps cybercriminals create sophisticated and targeted attacks through advanced linguistic techniques, including increasing text volume, punctuation, and sentence length.
CCRC warns that in the next 2 years, cybercriminals will actively use AI to expand their attack tools. It is expected that AI will be used to develop new variants of malware and ransomware more efficiently and quickly. In connection with the election campaigns in 2024, deepfake technologies will increase phishing and identity imitation attacks.
In addition, the CCRC expresses concerns that the benefits of AI for businesses may be offset by its use by cybercriminals. Older cybersecurity models may not be effective against dynamic AI-based attacks.
GlobalData's research shows that cyber-extortion and hacktivism will continue to gain momentum in 2024. The number of cases of cyber extortion is projected to increase by 30-50%, with corporations, small and medium-sized businesses, and government agencies being the most vulnerable. The regions of South Asia, Oceania, and Africa will be most vulnerable to attacks. Industry segments, including manufacturing, retail, professional services, finance and utilities, will also be at risk.
Despite the fact that CEOs have become more serious about the threat of cyber attacks, the CCRC emphasizes the need for more active involvement at the executive level to minimize risks. In 2023, many significant incidents were recorded, which requires increased attention to cybersecurity risk management.
According to the latest data from the Computer Crime Research Center (CCRC), the amount of damage caused by cybercrime will reach $12 trillion by 2025. This figure exceeds Cybersecurity Ventures previous estimate of $10.5 trillion. CCRC cites research from CheckPoint and Orange Cyderdefense, highlighting the steady increase in cyberattacks and ransomware over the past year.
Researchers pay special attention to the growth of attacks caused by the use of artificial intelligence (AI). According to the Palo Alto research group, the misuse of AI has led to an increase in the number of malicious domain registrations. AI helps cybercriminals create sophisticated and targeted attacks through advanced linguistic techniques, including increasing text volume, punctuation, and sentence length.
CCRC warns that in the next 2 years, cybercriminals will actively use AI to expand their attack tools. It is expected that AI will be used to develop new variants of malware and ransomware more efficiently and quickly. In connection with the election campaigns in 2024, deepfake technologies will increase phishing and identity imitation attacks.
In addition, the CCRC expresses concerns that the benefits of AI for businesses may be offset by its use by cybercriminals. Older cybersecurity models may not be effective against dynamic AI-based attacks.
GlobalData's research shows that cyber-extortion and hacktivism will continue to gain momentum in 2024. The number of cases of cyber extortion is projected to increase by 30-50%, with corporations, small and medium-sized businesses, and government agencies being the most vulnerable. The regions of South Asia, Oceania, and Africa will be most vulnerable to attacks. Industry segments, including manufacturing, retail, professional services, finance and utilities, will also be at risk.
Despite the fact that CEOs have become more serious about the threat of cyber attacks, the CCRC emphasizes the need for more active involvement at the executive level to minimize risks. In 2023, many significant incidents were recorded, which requires increased attention to cybersecurity risk management.
