What’s Next for Cloud Security in 2024?

Sean Wilkins · Feb 6, 2024 · 8 minute read

In 2024, the cloud has become the lifeblood of most businesses, offering unlimited storage, unparalleled scalability, and better cost efficiencies. But as we increasingly depend on cloud technology, as well as IoT and mobile devices, threat actors are using this increased surface area to launch more and more sophisticated attacks. 

This year is shaping up to be a pivotal juncture in cloud security. In this analysis, we’ll dissect the advancing cyber threat landscape as well as the technological developments that can protect us.

The Evolving Threat Landscape of the Cloud

The transition to cloud-based solutions has elevated cybersecurity efforts from a side task of the IT staff to a standalone, critical domain demanding specialized focus and solutions. Stricter regulatory requirements, the increasing complexity of cloud environments, and the growing number and sophistication of cyber threats have combined to push this issue to the forefront. Cybercrime is predicted to cost the world $9.5 trillion in 2024, according to Cybersecurity Ventures. Here are a selected few of the nefarious ways that bad actors carry out their evil plans. 

Ransomware

Experts predict that digital blackmail, also known as ransomware, already an incredibly damaging tactic, will evolve and become more targeted in 2024. It will also become more complex and harmful. Diverse methods of cyberattack will include more instances of exploiting VPN and cloud infrastructure. 

Anydesk Breach

Just days before this blog was published, a large-scale cyberattack on Anydesk allowed hackers to gain access to the company’s production systems. AnyDesk is a popular enterprise solution with 170,000 users that allows remote access to computers over a network or the internet. The threat actors are said to have stolen source code and code signing certificates.

Cryptocurrency Crime

The popularity of cryptocurrency has led to a sharp rise in cryptocrime. The decentralized nature of cryptocurrency platforms offers users the anonymity they prize but opens the industry to fraudulent activities, as it lacks the safeguards of traditional banks and financial institutions. 

Session Hijacking

Session hijacking is the malicious act of taking control of a user’s web session to follow them around the internet. Session hijacking will account for 40% of all cyberattacks by 2024, according to Cyberark. This may be the inspiration for Google’s plans to phase out cookies for 100% of Chrome users by Q3 2024. Knowing the nature of cyber attackers, this probably won’t phase them for long. 

AI and ML-Powered Attacks

Cybercriminals increasingly harness advanced technologies like AI and ML to attack and evade traditional security mechanisms. As AI and ML also power early detection systems for identifying threats, this trend indicates a continuous arms race between cyber attackers and defenders. 

How Companies are Fighting Back in 2024

New cyberthreats pop up like a whack-a-mole game. But today’s IT and security wizards are constantly cooking up new and innovative technologies. These advancements are pivotal in reshaping how organizations lock up their cloud castles, building stronger and more secure walls to keep bad actors out. Here are a few of the best strategies.

Using AI and ML Tools

AI and ML are the main players in many of the recent advancements in cloud security. These technologies enable predictive analytics for threat detection and automated security incident response. By analyzing patterns to predict threats before they even show up, AI and ML allow organizations to stay ahead of potential vulnerabilities. This proactive approach is increasingly becoming essential in a landscape where reactive measures are no longer sufficient.

Zero Trust Security Model

The zero trust model is gaining prominence as a foundational shift in security philosophy. Moving away from traditional perimeter-based security models, zero trust operates under the assumption that threats can exist both outside and inside the network. This model necessitates strict identity verification for every person and device trying to access network resources, irrespective of location.

Blockchain in Cloud Security

Blockchain technology, known for its decentralized and immutable characteristics, is emerging as a promising tool for enhancing cloud security. Its application in securing cloud-based transactions and data storage offers a new paradigm in ensuring data integrity and confidentiality. The adoption of blockchain in cloud security is a testament to the industry’s continuous search for innovative solutions to complex challenges.

Challenges and Considerations for the Future

Managing the complexities of cloud security presents a formidable challenge. But the defenses available to IT departments in 2024 are definitely up to the task. Today’s cybersecurity tools and platforms can operate in real time as they seamlessly integrate into workflows, streamlining the collaborative efforts of stakeholders in the ongoing pursuit of securing the cloud. Your cloud services provider can also offer valuable tools to keep your data safe, including cloud firewalls and disaster recovery procedures. Here are a few of the things that may make your life more complicated in the coming months: 

Managing Complex Cloud Environments

The diversity of cloud environments presents a significant challenge. Organizations often use a combination of public, private, and hybrid clouds, each requiring specific security considerations. Ensuring adequate security management across these environments requires integrating various tools, policies, and best practices.

Rapid Technological Changes

The fast pace of technological advancement in cloud computing presents another challenge. New technologies and services are constantly introduced, and staying updated with security threats and practices is crucial. Organizations must be agile in adapting their security strategies to address new types of threats that emerge with each technological innovation. 

Compliance and Data Governance

In the face of stringent regulatory requirements, compliance, and data governance have become more critical than ever. Navigating the complex landscape of laws like GDPR and CCPA requires understanding legal obligations and a robust strategy for data governance. Organizations must ensure their cloud operations are secure and compliant with these evolving regulations. This involves implementing and enforcing policies that control data storage, access, and sharing in the cloud and conducting regular audits to ensure ongoing compliance.

Importance of Effective Governance

Effective governance in cloud security involves more than just adhering to regulations; it’s about creating a structured approach to managing and protecting data. This requires clear policies, regular risk assessments, and a commitment to maintaining high standards of security and privacy. Governance also ensures that all stakeholders, from top management to individual employees, understand their roles and responsibilities in maintaining security.

Navigating Regulatory Compliance

Compliance with regulations like GDPR, CCPA, and others across the globe is a complex but necessary aspect of cloud security. It’s not just about avoiding penalties but also about building trust with customers and stakeholders. Organizations must proactively understand and implement the necessary controls to ensure compliance. This includes staying informed of changes in the regulatory landscape and adapting their policies and practices accordingly.

Humans: The Weakest Link

Social engineering attacks, particularly phishing and its variants, are becoming more sophisticated and targeted, often exploiting common human vulnerabilities. These attacks highlight the importance of comprehensive security training programs within organizations. Ongoing education on the latest cyber threats and best practices is vital in minimizing risk. A human-centric approach to security, emphasizing regular training and awareness, is crucial in building a robust defense against cyber threats.

Cultivating a culture of security awareness is essential for organizations to reinforce their defense mechanisms. Employees should be encouraged to adopt the best security practices daily and be vigilant against potential threats. Regular updates, simulations, and awareness campaigns can significantly enhance an organization’s security posture.

Strategic Best Practices for 2024 and Beyond

Looking towards the future, cloud security requires a forward-thinking approach. Organizations must balance adopting advanced technologies with robust governance and a strong focus on compliance and the human element.

Hope for the Best but Prepare for the Worst

A critical strategic imperative for organizations is to build resilience into their cloud operations. This involves preparing for incidents before they happen. A resilient organization can minimize the impact of security incidents. Collaboration is another important value in boosting data resilience. Sharing insights and best practices via participation in industry forums, partnerships, and collaborative projects can provide valuable perspectives and foster a more secure cloud ecosystem.

Disaster Recovery as a Service

A cloud computing service model called Disaster Recovery as a Service (DRaaS) is gaining traction among security-minded companies. Its market share was estimated at $11.5 billion in 2023, and is forecasted to grow by 22%, according to Global Market Insights. These solutions include continual monitoring of the health of your servers, as well as real-time data replication, which ensures that a current version of your database is always accessible for immediate restoration. This ensures that even if the worst happens, businesses can swiftly recover and maintain continuous operations. 

Conclusion

In summary, the landscape of cloud security in 2024 is a complex interplay of technological advancements, evolving regulatory landscapes, and the continuous need for robust security practices. As organizations increasingly rely on cloud services, adaptive, comprehensive, and proactive security measures become paramount. The future of cloud security will be shaped by the ability of organizations to integrate advanced technology solutions with solid governance, compliance, and a culture of security awareness. The journey towards a more secure and resilient digital ecosystem continues as we move forward, with cloud security at its heart.