Cybersecurity’s Top Trio: SME Business Leaders’ Guide for 2024

December 14, 2023
1 min read
  • As per Cynet’s COO, the top three cybersecurity trends for SME business leaders in 2024 are: Recognizable Risks at Unprecedented Scale, Evolving Malware to Maximize Financial Damage, and Geopolitical Chaos Spreading Cyber Threats to New Sectors.
  • Small-to-medium enterprises (SMEs) will face heightened cybersecurity threats due to limited resources, forcing executives to bolster security awareness without increasing headcount.
  • Malware is expected to evolve in order to bypass detections and cause greater financial damage, particularly through customizable infostealers such as Stealc.
  • Cyber threats are projected to spread to new sectors due to increasing geopolitical tensions and ideologically motivated cyberattacks.

Small-to-medium enterprises (SMEs) are expected to face significant cybersecurity challenges in 2024, particularly due to limited resources at their disposal. According to Cynet’s COO, a top trend includes Recognizable Risks at Unprecedented Scale, meaning SMEs would need to increase security awareness and capabilities without adding extra costs. This includes the potential use and misuse of artificial intelligence (AI) in security measures.

The second major trend highlights the evolution of malware to cause increased financial damage. Cybercriminals are expected to use customizable infostealers such as Stealc to choose the data they want to extract from the victim’s machine. Executives can mitigate the risks by prioritizing preventative capabilities and meeting certain cybersecurity requirements for optimal insurance coverage.

The third trend points to the spread of cyber threats to new sectors due to increasing geopolitical tensions, which pave the way for ideologically motivated cyberattacks. As ‘hacktivism’ rises, even businesses considered ‘safe’ from such crimes must recognize they could be targeted by these ideologically motivated actors. This necessitates executives across industries to integrate security as an integral part of their operations, rather than a niche for technical specialists.

In conclusion, protecting against cybersecurity threats is integral to every aspect of decision-making for SMEs. Understanding these trends and managing risk holistically will help business leaders enhance their resilience in 2024.

Latest from Blog

Top VPN’s privacy claims confirmed by independent auditors

TLDR: Independent auditors from Deloitte Romania confirmed CyberGhost VPN’s privacy claims through a detailed audit of their systems. Auditors found that CyberGhost’s no-logs infrastructure works as expected, ensuring user data privacy. Independent