![Cyber Risk
Management
Lifecycle
Zero day attacks
by ATPs &
Ransomware
Groups
Ransomware
& Digital
Extortion
Exploiting
Vulnerable
Supply Chains
Event based
Attacks
Elections,
Olympics, etc.
Phising/Vishing
attacks & Dating
App Scams
MFA
Fatigue
Attacks
LOLbins -
A nightmare
of Threat
Researchers
AI Powered
Malware
Deepfake for
Deceptive Social
Engineering
Hactivism
Continues
in 2024
Auction of Corporate
Access and Sale of
Breached Datasets
CYBER
SECURITY
2024
2024
OUTLOOK
OUTLOOK
Momentum Towards Passwordless/Passkeys
Current State Challenges:
• Susceptibility to brute-force attacks.
• Phishing scams, credential reuse, and password
fatigue.
• High costs of managing passwords, rising
instances of data breaches.
Passwordless authentication revolutionizes security
and user experience, leveraging biometrics, security
tokens, hardware keys, magic links, and FIDO Alliance
standards.
This shift is driven by enhanced security, streamlined
user experience, cost reduction, compliance, smoother
logins, and increased adoption of multi-factor
authentication.
Environmental, Social, and Governance (ESG) discussions are set to see a significant shift in the
coming year, with cybersecurity emerging as a critical public good. This recognition will bring
increased liability and accountability for companies, making robust cybersecurity practices
will no longer be just an option, but a business imperative.
Paradigm Shift in Identity
and Access Management
1.
Cyber Risk Quantification (CRQ)
Reshaping Risk Management
3.
• In response to the dynamic evolution of cyber threats, regulatory frameworks are
adapting with increased rigor.
• Beginning 2024, enterprises are facing elevated pressure and obligations regarding the
reporting of security and privacy breaches. This adjustment is particularly salient in the
context of India, where regulatory bodies such as the Reserve Bank of India (RBI), the
Securities and Exchange Board of India (SEBI) and the Data Protection and Privacy Act
(DPDP Act) are mandating comprehensive reporting protocols.
• The regulatory landscape in India is witnessing a paradigm shift, necessitating
organizations to recalibrate their compliance strategies to align with stringent global
privacy regulations and cybersecurity standards.
• The imperative for organizations lies not only in evading penalties but also in fostering
trust with clients and partners.
Reporting Obligations for
Security and Privacy Breaches
5.
• The development of quantum-resistant algorithms marks a critical step in defending
against potential threats that could compromise traditional encryption methods.
• Crypto agility allows organizations to quickly adapt to emerging threats, ensuring a
smooth transition to more secure algorithms as they become available, without the need
for a complete overhaul of their digital infrastructure.
• With quantum technology becoming increasingly accessible, there is a growing urgency to
deploy quantum encryption solutions. This race to implement quantum encryption is
essential to ensure the resilience of data against the computational capabilities of future
quantum systems.
• As organizations navigate this transition, it is imperative to stay ahead of the curve and
adapt cybersecurity strategies accordingly.
▪ This includes investing in research and development efforts to create robust
quantum-resistant algorithms capable of withstanding the power of quantum
computing.
▪ Organizations must prioritize the deployment of quantum encryption solutions to
safeguard sensitive data.
Trends in Quantum Computing
7.
AI Security
2.
Cybersecurity's Evolving
Role in ESG Discourse
• Cloud security has undergone significant evolution, particularly due to the escalating
reliance of businesses on cloud infrastructures.
• The critical dependency of AI on GPUs has propelled the necessity of migrating
workloads to the cloud, consequently intensifying the demand for robust cloud security
measures.
• Standardized security protocols, such as zero-trust architectures and multi-factor
authentication, have emerged as fundamental components in strengthening cloud
environments against potential threats.
• CSPs are leveraging sophisticated machine learning algorithms to proactively monitor and
swiftly respond to anomalous activities.
6.
Advancements in Cloud Security
• Data privacy has become a critical focal point for organizations.
• It's vital that data privacy seamlessly integrates into an organization's objectives,
design processes, and operations.
• Achieving this requires embedding privacy into every standard, protocol, and process
involving personal data.
• Implementing Privacy by Design (PbD) methodologies streamlines this integration,
empowering organizations to structure, organize, and adopt ethical data privacy practices.
• Integral to the DPDP Act in India, it advocates for embedding privacy into systems from
inception, ensuring data minimization, strong security measures, and transparency in
data processing.
8.
Data Privacy Integration:
A Strategic Imperative
The integration of emerging technologies like semiconductor advancements, network
innovations, IoT quantum developments, AI, and robotics are reshaping industries.
4.
Emerging Technologies
Security Challenges
• In QI, 2024, 20%3
of internet users in India experienced cyberattacks.
• This, coupled with the ever-expanding digital footprint of businesses (cloud, mobile, IoT),
creates a vast attack surface for cybercriminals.
• Threat Exposure Management (TEM) is a proactive approach to cybersecurity.
It continuously identifies and analyzes potential threats, like ransomware and phishing
attacks.
• Investments in TEM will significantly reduce breaches in year 2024-25.
9.
The Rising Tide of Threat
Exposure Management (TEM)
2022
Passwordless Authentication
Market Revenue1
2024
USD $15.6
Billion
USD $53
Billion
INSIGHTS INTO
CYBERSECURITY
TRENDS 2024
• Cyber Risk Quantification (CRQ): Transition from
qualitative evaluations to quantitative approaches.
• By adopting ratio scales and objective evaluation
criteria, cybersecurity assessment transforms from a
technical concern to a strategic imperative for
businesses.
• Utilizing real-time data analysis and assessment of
business impact, organizations can efficiently
prioritize their efforts in mitigating cyber risks.
2023
CRQ Market Size2
2030
USD $2,503
Million
USD $11,283
Million
Environment
Governance
Social
• Minimizing environmental impact.
• Implementing efficient security measures
helps reduce energy consumption and
carbon footprint associated with digital
operations.
• Securing critical infrastructure is crucial
to prevent environmental hazards caused
by cyberattacks.
• Organizations need to prioritize risk
mitigation strategies to ensure they
meet regulatory requirements and
protect their operations and finances.
• Strengthening corporate behavior,
oversight, and resilience are key
components of effective governance.
• Effective security management builds trust
within society.
• Transparency, accountability, and respect
for personal rights are paramount in fostering
a culture of trust in digital interactions.
Faster processing speeds introduce
vulnerabilities exploitable by cyber attackers.
The expansion of attack surfaces necessitates
the implementation of robust security measures.
Quantum computing integration raises concerns
about quantum hacking and data security.
Physical safety concerns and unauthorized
access to robotic systems.
Network Innovations
Semiconductors
IoT Quantum Developments
Robotics
References
1. Statista - Passwordless-Authentication Global Market Size
2. Market Report World - Global Cyber Risk Quantification Market
3. The Hindu - 20% Indian Users fell Victim to Cyber Threats
4. Microsoft Threat Intelligence - Staying Ahead of Threat Actors in the Age of AI
5. Slash Next - The State of Phishing 2024
Data Security Council of India
4th
Floor, Nasscom Campus, Plot No. 7-10, Sector 126, Noida, UP-201303
+91-120-4990253 | info@dsci.in | www. dsci.in
All Rights Reserved © DSCI 2024
data-security-council-of-india/ DSCI_Connect dsci.connect
dscivideo
dsci.connect security chips
Evasion attacks
Zero Day Vulnerabilities
DDoS attacks
Passive Injection: Exploit patterns
for future manipulation.
Active Injection: Insertion of
malicious code during interaction
with LLMs
AI-enabled malware can spread autonomously, exploiting
vulnerabilities while evading traditional security measures
through techniques such as obfuscation, code
polymorphism, and anti-analysis routines.
• Automates the discovery of vulnerabilities in code,
configurations, and network infrastructure, facilitating
configuration attacks.
• AI-powered threat analysis of past attacks and successful
exploits can help identify patterns and enhance attack strategies.
• AI automatically generates exploit code for newly discovered
• AI helps threat actors defeat identity and authentication
systems. Hyper-realistic deepfakes, 3D masks, and AI-enabled
voice cloning tools bypass facial recognition and voice
authentication systems.
• Credential phishing campaigns- 217% since October 2023
[Fraud GPT, Worm GPT]. 5
• Malicious email campaigns - 4,151% since November 2022.5
LLMs automate data mining of large datasets to prioritize
potential targets, leveraging vulnerability intelligence and
analyzing user behavior to craft personalized phishing
campaigns for targeted attacks.
APT groups, such as Forest Blizzard, Salmon Typhoon,
Crimson Sandstorm were using LLMs to gain detailed
knowledge of satellite capabilities, global intelligence
agencies, etc.4
Automated & Self-Learned,
Detection Evading Payload
[Malware]
Manipulating Data
[Poisoning]
Data Disclosure
[Loss]
AI App Disruption
[Attack]
Fooling/Overriding
[Prompt Injection]
Gathering Footprint, Scaling
Recon, & Crafting Modus
Operandi [Crime]
Lowering Barriers in Finding
Vulnerabilities & Code/
Configuring Attack [Threat]
Defeating Identity &
Authentication System
[Biometrics, & other]
[Deepfake]
AI System
Security
Security
Challenges
due to AI
Vulnerabilities in
software libraries, cloud
platforms & APIs
• Surge in Generative AI/LLMs Usage by Attackers:
Expect heightened utilization of Generative AI/LLMs by cyber attackers, driving the need
for increased security investments by 2025-2036.
• Deepfakes are set to mature, fueling a surge in AI-driven phishing incidents, challenging
conventional detection methods.
• Focus needs to shift towards developing robust security mechanisms to counter the rising
sophistication of deepfakes.
• Growing concerns over AI hallucinations highlight the necessity for advanced techniques
like Retrieval Augmented Generation and Model Fine-Tuning.
• Symbiotic Relationship Between Cybersecurity and AI:
AI's role in enhancing threat detection capabilities and automating incident response
processes is crucial. However, ensuring AI trustworthiness requires cybersecurity expertise
to validate and establish reliability, especially as AI increasingly permeates cybersecurity
roles.
10.
The AI Evolution in Cybersecurity:
Trends Reshaping Strategies
CYBER THREAT
2024
PREDICTIONS
Source: Data Security Council of India (DSCI)
Source: Data Security Council of India (DSCI)
Source: Data Security Council of India (DSCI)
Source: Data Security Council of India (DSCI)
Source: Data Security Council of India (DSCI)](https://image.slidesharecdn.com/2024-cybersecurity-outlook-241222065617-db49a895/85/2024-Cybersecurity-Outlook-for-all-engineering-students-1-320.jpg)
2024-Cybersecurity-Outlook for all engineering students
- 1. Cyber Risk Management Lifecycle Zero day attacks by ATPs & Ransomware Groups Ransomware & Digital Extortion Exploiting Vulnerable Supply Chains Event based Attacks Elections, Olympics, etc. Phising/Vishing attacks & Dating App Scams MFA Fatigue Attacks LOLbins - A nightmare of Threat Researchers AI Powered Malware Deepfake for Deceptive Social Engineering Hactivism Continues in 2024 Auction of Corporate Access and Sale of Breached Datasets CYBER SECURITY 2024 2024 OUTLOOK OUTLOOK Momentum Towards Passwordless/Passkeys Current State Challenges: • Susceptibility to brute-force attacks. • Phishing scams, credential reuse, and password fatigue. • High costs of managing passwords, rising instances of data breaches. Passwordless authentication revolutionizes security and user experience, leveraging biometrics, security tokens, hardware keys, magic links, and FIDO Alliance standards. This shift is driven by enhanced security, streamlined user experience, cost reduction, compliance, smoother logins, and increased adoption of multi-factor authentication. Environmental, Social, and Governance (ESG) discussions are set to see a significant shift in the coming year, with cybersecurity emerging as a critical public good. This recognition will bring increased liability and accountability for companies, making robust cybersecurity practices will no longer be just an option, but a business imperative. Paradigm Shift in Identity and Access Management 1. Cyber Risk Quantification (CRQ) Reshaping Risk Management 3. • In response to the dynamic evolution of cyber threats, regulatory frameworks are adapting with increased rigor. • Beginning 2024, enterprises are facing elevated pressure and obligations regarding the reporting of security and privacy breaches. This adjustment is particularly salient in the context of India, where regulatory bodies such as the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI) and the Data Protection and Privacy Act (DPDP Act) are mandating comprehensive reporting protocols. • The regulatory landscape in India is witnessing a paradigm shift, necessitating organizations to recalibrate their compliance strategies to align with stringent global privacy regulations and cybersecurity standards. • The imperative for organizations lies not only in evading penalties but also in fostering trust with clients and partners. Reporting Obligations for Security and Privacy Breaches 5. • The development of quantum-resistant algorithms marks a critical step in defending against potential threats that could compromise traditional encryption methods. • Crypto agility allows organizations to quickly adapt to emerging threats, ensuring a smooth transition to more secure algorithms as they become available, without the need for a complete overhaul of their digital infrastructure. • With quantum technology becoming increasingly accessible, there is a growing urgency to deploy quantum encryption solutions. This race to implement quantum encryption is essential to ensure the resilience of data against the computational capabilities of future quantum systems. • As organizations navigate this transition, it is imperative to stay ahead of the curve and adapt cybersecurity strategies accordingly. ▪ This includes investing in research and development efforts to create robust quantum-resistant algorithms capable of withstanding the power of quantum computing. ▪ Organizations must prioritize the deployment of quantum encryption solutions to safeguard sensitive data. Trends in Quantum Computing 7. AI Security 2. Cybersecurity's Evolving Role in ESG Discourse • Cloud security has undergone significant evolution, particularly due to the escalating reliance of businesses on cloud infrastructures. • The critical dependency of AI on GPUs has propelled the necessity of migrating workloads to the cloud, consequently intensifying the demand for robust cloud security measures. • Standardized security protocols, such as zero-trust architectures and multi-factor authentication, have emerged as fundamental components in strengthening cloud environments against potential threats. • CSPs are leveraging sophisticated machine learning algorithms to proactively monitor and swiftly respond to anomalous activities. 6. Advancements in Cloud Security • Data privacy has become a critical focal point for organizations. • It's vital that data privacy seamlessly integrates into an organization's objectives, design processes, and operations. • Achieving this requires embedding privacy into every standard, protocol, and process involving personal data. • Implementing Privacy by Design (PbD) methodologies streamlines this integration, empowering organizations to structure, organize, and adopt ethical data privacy practices. • Integral to the DPDP Act in India, it advocates for embedding privacy into systems from inception, ensuring data minimization, strong security measures, and transparency in data processing. 8. Data Privacy Integration: A Strategic Imperative The integration of emerging technologies like semiconductor advancements, network innovations, IoT quantum developments, AI, and robotics are reshaping industries. 4. Emerging Technologies Security Challenges • In QI, 2024, 20%3 of internet users in India experienced cyberattacks. • This, coupled with the ever-expanding digital footprint of businesses (cloud, mobile, IoT), creates a vast attack surface for cybercriminals. • Threat Exposure Management (TEM) is a proactive approach to cybersecurity. It continuously identifies and analyzes potential threats, like ransomware and phishing attacks. • Investments in TEM will significantly reduce breaches in year 2024-25. 9. The Rising Tide of Threat Exposure Management (TEM) 2022 Passwordless Authentication Market Revenue1 2024 USD $15.6 Billion USD $53 Billion INSIGHTS INTO CYBERSECURITY TRENDS 2024 • Cyber Risk Quantification (CRQ): Transition from qualitative evaluations to quantitative approaches. • By adopting ratio scales and objective evaluation criteria, cybersecurity assessment transforms from a technical concern to a strategic imperative for businesses. • Utilizing real-time data analysis and assessment of business impact, organizations can efficiently prioritize their efforts in mitigating cyber risks. 2023 CRQ Market Size2 2030 USD $2,503 Million USD $11,283 Million Environment Governance Social • Minimizing environmental impact. • Implementing efficient security measures helps reduce energy consumption and carbon footprint associated with digital operations. • Securing critical infrastructure is crucial to prevent environmental hazards caused by cyberattacks. • Organizations need to prioritize risk mitigation strategies to ensure they meet regulatory requirements and protect their operations and finances. • Strengthening corporate behavior, oversight, and resilience are key components of effective governance. • Effective security management builds trust within society. • Transparency, accountability, and respect for personal rights are paramount in fostering a culture of trust in digital interactions. Faster processing speeds introduce vulnerabilities exploitable by cyber attackers. The expansion of attack surfaces necessitates the implementation of robust security measures. Quantum computing integration raises concerns about quantum hacking and data security. Physical safety concerns and unauthorized access to robotic systems. Network Innovations Semiconductors IoT Quantum Developments Robotics References 1. Statista - Passwordless-Authentication Global Market Size 2. Market Report World - Global Cyber Risk Quantification Market 3. The Hindu - 20% Indian Users fell Victim to Cyber Threats 4. Microsoft Threat Intelligence - Staying Ahead of Threat Actors in the Age of AI 5. Slash Next - The State of Phishing 2024 Data Security Council of India 4th Floor, Nasscom Campus, Plot No. 7-10, Sector 126, Noida, UP-201303 +91-120-4990253 | info@dsci.in | www. dsci.in All Rights Reserved © DSCI 2024 data-security-council-of-india/ DSCI_Connect dsci.connect dscivideo dsci.connect security chips Evasion attacks Zero Day Vulnerabilities DDoS attacks Passive Injection: Exploit patterns for future manipulation. Active Injection: Insertion of malicious code during interaction with LLMs AI-enabled malware can spread autonomously, exploiting vulnerabilities while evading traditional security measures through techniques such as obfuscation, code polymorphism, and anti-analysis routines. • Automates the discovery of vulnerabilities in code, configurations, and network infrastructure, facilitating configuration attacks. • AI-powered threat analysis of past attacks and successful exploits can help identify patterns and enhance attack strategies. • AI automatically generates exploit code for newly discovered • AI helps threat actors defeat identity and authentication systems. Hyper-realistic deepfakes, 3D masks, and AI-enabled voice cloning tools bypass facial recognition and voice authentication systems. • Credential phishing campaigns- 217% since October 2023 [Fraud GPT, Worm GPT]. 5 • Malicious email campaigns - 4,151% since November 2022.5 LLMs automate data mining of large datasets to prioritize potential targets, leveraging vulnerability intelligence and analyzing user behavior to craft personalized phishing campaigns for targeted attacks. APT groups, such as Forest Blizzard, Salmon Typhoon, Crimson Sandstorm were using LLMs to gain detailed knowledge of satellite capabilities, global intelligence agencies, etc.4 Automated & Self-Learned, Detection Evading Payload [Malware] Manipulating Data [Poisoning] Data Disclosure [Loss] AI App Disruption [Attack] Fooling/Overriding [Prompt Injection] Gathering Footprint, Scaling Recon, & Crafting Modus Operandi [Crime] Lowering Barriers in Finding Vulnerabilities & Code/ Configuring Attack [Threat] Defeating Identity & Authentication System [Biometrics, & other] [Deepfake] AI System Security Security Challenges due to AI Vulnerabilities in software libraries, cloud platforms & APIs • Surge in Generative AI/LLMs Usage by Attackers: Expect heightened utilization of Generative AI/LLMs by cyber attackers, driving the need for increased security investments by 2025-2036. • Deepfakes are set to mature, fueling a surge in AI-driven phishing incidents, challenging conventional detection methods. • Focus needs to shift towards developing robust security mechanisms to counter the rising sophistication of deepfakes. • Growing concerns over AI hallucinations highlight the necessity for advanced techniques like Retrieval Augmented Generation and Model Fine-Tuning. • Symbiotic Relationship Between Cybersecurity and AI: AI's role in enhancing threat detection capabilities and automating incident response processes is crucial. However, ensuring AI trustworthiness requires cybersecurity expertise to validate and establish reliability, especially as AI increasingly permeates cybersecurity roles. 10. The AI Evolution in Cybersecurity: Trends Reshaping Strategies CYBER THREAT 2024 PREDICTIONS Source: Data Security Council of India (DSCI) Source: Data Security Council of India (DSCI) Source: Data Security Council of India (DSCI) Source: Data Security Council of India (DSCI) Source: Data Security Council of India (DSCI)