Our recently released predictions report includes a number of important considerations about the likely trajectory of cybercrime in the coming years, and the strategies and tactics that will evolve in response. Every year, the story is “Attackers are getting more sophisticated, and defenders have to keep up.” As we enter a new era of advanced AI technology, we identify some surprising wrinkles to that perennial trend.

Data security will remain one of the biggest concerns for businesses this year. According to IBM, the average data breach in 2023 cost 4.45 million - and 82% of that involved data stored in the cloud. Damages from cybercrime, including the cost of data recovery, could total $10.5 trillion annually by 2025, causing more business owners to review their data security protocols. Which specific changes should you implement in the next 12 months?

2023 was a rough year for data security. A quick look at the biggest hacks of this year reveals some very disturbing information and trends. There were many specific hacks and data breaches that malicious actors were able to accomplish. Cybercrime skyrocketed in 2023. The rise in cybercrime was fueled largely by the continued COVID-19 pandemic and the work-from-home measures taken by countless businesses. According to one report, cybercrime increased 600%.

In 2022, Marriott, the renowned global hotel and resort company, fell victim to a cunning social engineering attack. During this security breach, cyber attackers successfully exfiltrated a staggering 20 gigabytes of highly sensitive customer data, including personal information and credit card numbers. In that very year, InterContinental Hotels Group (IHG) found itself in the crosshairs of a cyberattack that effectively crippled its booking systems and rendered its mobile apps inoperative.