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Quorum Cyber predicts major cyber threats for 2024
Fri, 9th Feb 2024

United Kingdom-based cybersecurity firm Quorum Cyber has released its "Threat Intelligence Outlook 2024" report, which provides a strategic analysis of the emerging cyber threats for 2024. Quorum Cyber is known for its significant presence in the global cybersecurity landscape and its collaborations with Microsoft as a Solutions Partner for Security and a member of the Microsoft Intelligent Security Association (MISA).

The report specifically focuses on the so-called "Big Four" nation-state groups - Russia, China, Iran, and North Korea. It details malware trends, cybercriminal capabilities, and industry-specific risks associated with these countries, along with their geopolitical objectives. The aim is to provide a comprehensive perspective of the intensifying cyber threats linked to these nations, according to Quorum Cyber.

A significant trend to watch out for, according to the report, is the weaponisation of artificial intelligence (AI). This involves automated phishing and social engineering operations as well as the use of deepfake technologies to manipulate public opinion and exploit organisations. The report indicates the probability of these technologies being offered for purchase to threat actors on dark web forums and other covert platforms.

Attacks on the U.S. Presidential Election are also anticipated, with state-level cyberespionage, impersonation attempts, and information operations targeted at both voting systems and civilian voters, the report finds. Specifically, the report highlights the possibility of Moscow attempting to buoy candidates aligning with Russian foreign policy goals, particularly with regard to destabilising U.S. support for Ukraine's current President, Volodymyr Zelensky.

The analysis also reveals that the technology and construction sectors bore the brunt of ransomware attacks in 2023, accounting for 28% and 24% of all actions correspondingly. It forecasts that Advanced Persistent Threat (APT) units will devise stealth techniques to attack mobile and smart devices, similar to the "Operation Triangulation" espionage campaign against Apple devices in the third quarter of 2023.

Moreover, the report additionally predicts an upsurge in cyber aggression from Moscow to obstruct cooperation between entities providing support to Ukraine. It also expects a surge in the Chinese information operations coinciding with their accelerated artificial intelligence capabilities and the high number of democratic elections scheduled worldwide in 2024-2025.

“The Quorum Cyber Threat Intelligence Outlook 2024 provides a clear picture of the threat landscape for the months ahead”, Federico Charoksy, Chief Executive Officer & Founder of Quorum Cyber, stated.

The top industries attacked from January 2023 through to November 2023 included Government, Transport, IT, Education, and Banking, in that order.