The Rising Tide: Cyber Attacks Surged from 2023 to 2024
As we navigate through 2024, the cybersecurity landscape continues to evolve at just as an alarming a rate as the return of Y2K fashion. The period from 2023 to 2024 has seen a significant uptick in attacks, leaving small businesses and influencers scrambling to fortify their digital defenses. By 2025, worldwide cybercrime costs are estimated to hit a whopping $10.5 trillion annually (Cybersecurity Ventures). It’s therefore unsurprising that in a recent Gartner survey, 80% of organisations said they plan to increase their spending on information security in 2024. (Gartner).
Today, we’ll delve into the reasons behind this surge and what it means for small businesses, content creators and non-profits.
The Numbers Don't Lie
Recent statistics paint a concerning picture of the current cybersecurity situation:
Global cybercrime costs are projected to grow by 15% per year over the next five years (Cybersecurity Ventures)
Ransomware attacks are occurring every 11 seconds as of 2021, up from every 40 seconds in 2016. (Cybersecurity Ventures)
The average cost of a data breach increased 2.6% from $4.24 million in 2021 to $4.35 million in 2022. (IBM Cost of a Data Breach Report 2022)
85% of cybersecurity professionals attribute the increase in cyberattacks to the use of generative AI by bad actors (CFO).
Factors Contributing to the Increase
Several factors have contributed to the rise in cyber attacks from 2023 to 2024:
Increased Digital Dependence: The ongoing digital transformation across nearly every industries has expanded the attack surface for cybercriminals. The ‘attack surface’ essentially refers to the total entry points that could be exploited by cybercriminals.
Remote Work Vulnerabilities: The continued prevalence of remote and hybrid work models has created new security challenges for businesses.
Sophisticated Attack Methods: Cybercriminals are employing more advanced techniques, including AI-powered attacks and deepfakes.
Geopolitical Tensions: Rising global conflicts have led to an increase in state-sponsored cyber attacks.
Types of Attacks on the Rise
While various forms of cyber attacks have seen an uptick, some have become particularly prevalent:
**Ransomware:** These attacks have become more targeted and sophisticated, with attackers often threatening to leak sensitive data.
Phishing: Social engineering tactics have evolved, making phishing attempts harder to detect.
Supply Chain Attacks: Cybercriminals are increasingly targeting vulnerabilities in supply chains to compromise multiple organisations at once.
IoT Attacks: As the Internet of Things expands, so do the opportunities for cybercriminals to exploit connected devices.
Start Securing your Business Today
STEP 1 - Get the basics sorted It’s the little things that often make the biggest difference. This includes strong passwords, multi factor authentication and regular updates. The starter guide, available in the footer covers this and other free and simple tips to massively enhance your security.
STEP 2 - Know what to watch out for
Give yourself an education on the cyber threats. This includes ransomware, phishing, common scams and the risk of poor data disposal
STEP 3 - Increase your digital wellness A tidy home = a tidy mind can be true for your devices too. Keeping your digital world organised and managed properly can not only enhances your overall well-being, but massively improve your security too. Start with this post on digital wellness and these tips on staying organised.
STEP 4 - Develop security consciousness Subscribe to our email newsletter in the footer below. We’ll send you regular news and advice on securing your digital world. You can also follow us on Instagram.
What does 2025 hold?
The surge in cyber attacks from 2023 to 2024 serves as a stark reminder of the ever-present and evolving nature of cyber threats. As we continue to rely more heavily on digital technologies, the importance of cybersecurity cannot be overstated. By staying informed, implementing robust security measures, and fostering a culture of cybersecurity awareness, we can work towards a safer digital future.