Cybersecurity Trends for Small Businesses in 2024

In 2024, your business must stay ahead of all the cybersecurity trends, especially if your business is online. With small businesses already having vulnerabilities, keeping your online security safe is no easy feat. Here are five cybersecurity trends for small businesses in 2024.  

More Focus on Cloud Security

Many businesses have decided to move their data, internet, infrastructure, software, and key information to Cloud systems. There are many benefits to this move from increased productivity, cost reduction, robust security, and improved flexibility. However, the cloud can still have hidden vulnerabilities. Cloud-based threats could include reduced visibility and control, misconfigured cloud storage and settings, vulnerable cloud applications, incomplete data deletion, compliance issues, and migration concerns.  

To combat these issues, businesses will need to evaluate which cloud services will provide the best security while continuing to monitor the system. 

Multi-factor Authentication Becomes the Norm

It is unwise to only rely on passwords for authentication for any data or private information in your business. With multi-factor authentication (MFA), users need to provide two or more ways of verification to gain access to resources. It will ask for a password, a pin from a phone registered to unlock data, or a verified fingerprint.

Passwords are easily breached, so installing an MFA will help protect your business from any cybersecurity threat. In 2024, The New York Times reported that the best MFAs are Duo Mobile, Authy, and Google Authenticator.     

IoT Security Goes 5G

The rapid growth of 5G networks is bridging many connections between the Internet and businesses. Consequently, this brings more risk for external threats and software bugs. However, 5G technology offers security features for different networks like advanced encryption methods, improved identity management, and privacy tactics. 

It’s important to update firmware and software as often as necessary, separating your network into small subnetworks, and consistently monitoring network activity. 

Attention to Deepfake Technology

With Generative AI, there is an increased risk of deepfake technology that manipulates audio and video to create realistic images or videos. Your business could be targeted by deepfake attacks by impersonating individuals within your company or spreading disinformation through audio, video, and image formats. Use deepfake detection tools like Sentinel, Intel’s Real-Time Deepfake Detector, WeVerify, or Microsoft’s Video Authenticator Tool. 

 More Awareness of Growing Ransomware

Ransomware is malware that holds the victim’s data or device hostage unless the victim pays a ransom. In 2022, ransomware attacks made up 17% of all cyberattacks. Cybercriminals can attack your business with refined and sophisticated tactics. This can specifically impact industries that rely on software systems.

To prevent ransomware attacks on your business, you need to always backup all data on a physical hard drive. It’s vital to keep systems updated with the latest security trends and always use antivirus software. 

If you come face to face with ransomware, you need to isolate the device(s) infected, deploy ransomware decryption tools, and investigate and scan the device(s). 

While cyber attackers are becoming smarter and more advanced, following these cybersecurity trends closely will save your small business from online threats.

Categorised in: Business Strategy