The good news? You can keep your business safe by staying informed about the latest threats. Let’s dive into the top cyber threats you need to watch out for in 2024—and, most importantly, what you can do about them.
Here are the top cyber threats to watch out for in 2024.
You’ve probably heard of phishing—those annoying emails pretending to be from your bank, boss, or a service you use. But phishing has gotten smarter. In 2024, cybercriminals are upping their game, using advanced tactics to trick even the most tech-savvy among us.
What’s really dangerous now is spear-phishing. This isn’t your average blanket spam campaign. Spear-phishing is highly targeted. Hackers do their homework, learning about you, your company, and your employees. Then, they craft emails that seem legitimate—like they’re coming from a trusted colleague or client. One wrong click, and you’ve given away sensitive information.
Why should SMBs care?
Small businesses might think, "We’re too small to be targeted," but 85% of data breaches at SMBs start with a phishing attack. It’s not about how big you are—it’s about how well-prepared you are.
How to stay safe:
Train your team with cyber security awareness training. Make sure everyone knows how to spot suspicious emails. And invest in some good email filtering tools—they can be lifesavers, blocking phishing attempts before they hit inboxes.
If you haven’t heard of ransomware, it’s time to pay attention. This is one of the most destructive cyber threats out there, and it’s only getting worse. Imagine waking up to find all your company’s data locked up, with hackers demanding a hefty ransom to get it back. That’s ransomware.
What’s even scarier is Ransomware-as-a-Service (RaaS). Yes, you read that right. In 2024, cybercriminals are offering ransomware kits for sale on the dark web, making it easier for less experienced hackers to launch attacks. It’s a business model—just like yours, but far less ethical.
Why should SMBs care?
SMBs are often hit hard because they don’t have the resources to recover from a ransomware attack. If you don’t have backups or a disaster recovery plan, paying the ransom might seem like your only option—and that’s a dangerous position to be in.
How to stay safe:
Back up your data regularly. And I mean regularly. If you have recent backups, you won’t have to worry about losing everything if you get hit with ransomware. Also, make sure you have a strong recovery plan in place so you can get back up and running quickly.
Here’s one that’s flying under the radar for many businesses, but it’s becoming a huge issue in 2024: supply chain attacks. Instead of going after your business directly, hackers target your vendors or suppliers. Why? Because they know smaller companies often have weaker security. If a vendor gets compromised, hackers can use their access to gain access to your systems.
Remember the SolarWinds attack? That’s a classic example of a supply chain attack that hit businesses of all sizes. And the thing is, it’s much harder to detect because the attack isn’t coming directly at you—it’s sneaking in through a backdoor.
Why should SMBs care?
Even if your business has robust cybersecurity, you’re only as strong as your weakest link. If one of your vendors gets breached, that could lead to a security threat to your systems being compromised.
How to stay safe:
Vet your vendors. Make sure they have strong cybersecurity measures in place, and don’t be afraid to ask for proof. Also, review contracts to ensure they’re responsible for keeping their systems secure.
The cloud is impressive—it’s flexible, scalable, and cost-effective, especially for SMBs. But just because you’re in the cloud doesn’t mean you’re automatically secure. One of the most significant issues in 2024 is cloud misconfigurations. That means someone sets up your cloud environment with loose security settings, and suddenly, your data is exposed to the world.
And here’s the kicker: many businesses assume that cloud providers are taking care of everything. Spoiler alert—they’re not. You’re responsible for securing your data in the cloud, not just the provider.
Why should SMBs care?
Cloud services are convenient, but if they’re not properly configured, they can be a major vulnerability. SMBs that rely on cloud storage or services could unknowingly expose sensitive information.
How to stay safe:
Take control of your cloud security. Use strong passwords, enable multi-factor authentication (MFA), and regularly check your security settings. And don’t forget to encrypt sensitive data before storing it in the cloud.
Artificial intelligence (AI) isn’t just for automating tasks and analyzing data—it’s also being used by threat actors to supercharge their attacks. In 2024, we’re seeing AI-powered cyberattacks that can adapt, learn, and outsmart traditional security measures.
AI can help hackers create more convincing phishing emails, break passwords faster, and find vulnerabilities in your system. It’s like having a hacker working 24/7, but without human limitations.
Why should SMBs care?
AI-driven attacks are faster, more efficient, and harder to defend against. SMBs, with fewer resources and often less sophisticated defenses, are especially vulnerable to these high-tech attacks.
How to stay safe:
Stay proactive. Use behavior-based security systems that can detect abnormal or malicious activity, and always keep your software and security tools up to date. Also, MFA is a must—it adds an extra layer of protection that can slow down even the smartest AI-driven attack.
Cyber threats are constantly evolving, but that doesn’t mean your business has to be left behind. By staying informed and taking action, you can protect your SMB from the top threats of 2024. From phishing scams to AI-powered attacks, the key is preparation. And remember, you don’t have to do it alone.
Need help protecting your business?
At Watchkeep, we specialize in safeguarding SMBs from cyber threats—big and small. Let’s work together to keep your business secure in 2024 and beyond. Schedule a free consultation or request a cybersecurity audit today.