This year we have seen cyber threats continue to evolve and increase in their frequency and complexity. With the targets not only being large enterprises but small and medium-sized businesses (SMBs) have also been prime targets for cybercriminals.

Here are the Top 5 Cyber Threats that businesses are facing in 2024:

1. Ransomware Attacks:

Ransomware continues to be a major threat, with attackers using increasingly sophisticated methods to encrypt data and demand ransoms. Double extortion, where data is stolen before encryption, has become more common, pressuring victims to pay to avoid public data leaks.

Impact: Disruption of operations, financial loss, and potential reputational damage.

2. Supply Chain Attacks:

A supply chain attack is when cybercriminals target third-party vendors and suppliers in order to compromise the company’s systems or data. These attacks are indirect as they compromise trusted software or services used by multiple companies, leading to widespread breaches. For example, if an attacker infects a cybersecurity vendor’s software with malware, that malware can spread to all the vendor’s clients when they update their software, granting the attacker access to the clients’ systems. The SolarWinds attack in 2020 is a notable example of this type of attack.

Impact: Widespread data breaches, loss of customer trust and costly mitigation efforts.

3. Phishing and Social Engineering:

Despite growing awareness, phishing remains one of the most effective methods for cybercriminals to gain unauthorised access. Social engineering tactics are becoming more personalised and harder to detect, making it easier for attackers to deceive individuals.

Impact: Credential theft, unauthorised access and potential for more severe attacks.

4. Advanced Persistent Threats (APTs):

APTs involve prolonged and targeted cyberattacks where intruders gain and maintain access to a network over time, typically to steal sensitive data. These threats are often state-sponsored or carried out by highly organised cybercriminal groups and they will sit and wait in your systems until the perfect moment to pounce for the payoff.

Impact: Long-term data theft, espionage, and significant financial and reputational damage.

5. Zero-Day Exploits:

Zero-Day exploits are attacks that exploit previously unknown vulnerabilities in software, leaving no time for organisations to patch or defend against them. The rise of bug bounty programs and underground markets has led to an increase in the discovery and use of zero-day exploits.

Impact: Immediate and often devastating consequences, as there are no existing defences against these vulnerabilities at the time of the attack.

Why Acronis stands out as a Solution

In contrast to typical anti-virus software, Acronis uses artificial intelligence and machine learning to detect threats in real time. In the past, cybersecurity methods relied on traditional security measures like firewalls, antivirus software, and password rules. However, since cyber dangers evolve at rapid speed, traditional strategies are no longer able to keep up with the pace. 

In a previous blog, we looked at Endpoint Detection and Response (EDR) and how it plays an important role in monitoring and analysing endpoint activities. EDR provides unparalleled visibility into endpoint activities, enabling faster threat detection. This gives businesses a proactive defence approach by detecting threats early and responding swiftly to minimise damage.

With the addition of Acronis Advanced Security and XDR (Extended Detection and Response) to an organisations cybersecurity platform, businesses are provided with deeper insights and faster responses.

Key Features of Acronis Advanced Security and XDR

Here are a few of the key features that make Acronis Advanced Security and XDR a comprehensive solution that not only defends against cyber threats, but also ensures business continuity through integrated backup and recovery, all while being easy to manage.

• AI-Driven Threat Detection: Acronis utilises cutting-edge artificial intelligence and machine learning to deliver real-time threat detection and response. This advanced system is capable of identifying and neutralising even the most sophisticated cyber threats before they can cause harm, ensuring your business remains secure and resilient.
• Integrated Backup and Disaster Recovery: Acronis stands out by seamlessly integrating robust backup and disaster recovery capabilities within its XDR solution. This holistic approach not only identifies and mitigates threats but also ensures that your critical data is securely backed up and easily recoverable in the event of an incident, minimising downtime and ensuring business continuity.
• Automated Incident Response: Acronis XDR offers automated incident response mechanisms that streamline the containment, eradication, and recovery processes. This reduces the manual workload on IT teams and speeds up the response to threats, ensuring minimal disruption to your operations.
• Unified Management Console: Managing cybersecurity and data protection is simplified with Acronis’s intuitive and user-friendly management console. The platform is designed to be accessible to both seasoned IT professionals and business owners, offering centralised control over security, backup, and recovery operations through a single pane of glass.
• Advanced Threat Intelligence: Acronis incorporates global threat intelligence to enhance its detection and response capabilities. By leveraging data from a vast network of sensors, Acronis XDR stays ahead of emerging threats, providing up-to-date protection against the latest cyber risks.
• Comprehensive Visibility and Reporting: With Acronis XDR, you gain complete visibility into your security posture. Detailed analytics and reporting tools provide insights into security incidents, helping you understand the nature of threats and the effectiveness of your defences, all while supporting compliance with regulatory requirements.

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Acronis offers a comprehensive solution that not only protects your endpoints but also provides peace of mind in a volatile cybersecurity environment. For more insights and to learn how our cybersecurity solutions can work for you, reach out to Radical Cloud Solutions today.