CISOs’ Key Takeaways from the ANZ (Australia and New Zealand) Threat Landscape Report 2024

Overview

Australia and New Zealand’s cyber threat landscape has become increasingly complex, with challenges affecting critical infrastructure, healthcare, finance, and more. The Threat Landscape Report 2024 by Cyble stresses the growing dangers posed by cybercriminals and state-sponsored threat actors alike while highlighting the proactive measures that businesses, especially CISOs (Chief Information Security Officers), can take to strengthen their defenses.

Cyble has found a notable soar in cyberattacks targeting Australia and New Zealand (ANZ). The Threat Landscape Report 2024 has identified these trends as a high priority. Among these, the rise in Ransomware-as-a-Service (RaaS) models and increasing cyberattacks targeting critical sectors such as healthcare, government, and finance stand out. Geopolitical tensions have also intensified the threat, with state-sponsored cyber actors from countries like China and Russia targeting Australian networks for espionage, financial gain, and geopolitical influence.

In FY2023-24, the Australian Signals Directorate (ASD) responded to over 1,100 cyber incidents, with 11% of these attacks focused on critical infrastructure. Furthermore, there was a 12% increase in calls to the Australian Cyber Security Hotline, with more than 36,700 inquiries related to cyber threats.

This surge reflects the growing concern about cybersecurity vulnerabilities across sectors. Data breaches, ransomware attacks, and politically motivated Distributed Denial of Service (DDoS) attacks have been prevalent, underlining the urgent need for more robust security measures across organizations in Australia and New Zealand.

For CISOs, these developments are not just concerning; they accentuate the importance of proactively identifying threats, implementing security protocols in place, and continuously updating cybersecurity strategies to protect against cyber threats.

Key Findings and Threats Identified in the ANZ Threat Landscape Report 2024

Several key findings stand out in the ANZ Threat Landscape Report 2024, providing critical insights into the nature of cybersecurity threats facing organizations in the region:

• Ransomware and RaaS: The rise of RaaS models, particularly with groups like SpiderX, has made it easier for even less experienced cybercriminals to launch ransomware attacks. These services offer low-cost, turnkey solutions that lower the barriers to entry for launching ransomware campaigns. As a result, CISOs must be especially vigilant in defending against these attacks, which often involve data exfiltration and encryption for financial gain.
• Exploitation of Software Vulnerabilities: Exploiting vulnerabilities such as CVE-2024-21887, which affects Industrial Control Systems (ICS) and IoT devices, continues to be a notable attack vector. These vulnerabilities allow attackers to gain unauthorized access and disrupt critical services, making timely patching and vulnerability management crucial for organizations to mitigate risk.
• Geopolitically Motivated Attacks: Tensions in the geopolitical domain have led to a rise in ideologically driven cyberattacks, particularly those targeting government websites, infrastructure, and financial institutions. DDoS attacks, often carried out by groups such as the People’s Cyber Army and Mysterious Team Bangladesh, have been used to send political messages and disrupt operations, making it critical for organizations to strengthen defenses against such campaigns.
• Supply Chain and Phishing Attacks: The Threat Landscape Report 2024 highlights the risk of targeted supply chain attacks, with threat actors leveraging trojanized software packages or compromising third-party vendors to gain access to larger networks. Alongside these threats, phishing remains a pervasive attack technique, making employee training and awareness more important than ever.
• IoT and ICS Systems Vulnerabilities: Cyble also reported a rise in threat to IoT and ICS systems, especially in sectors like manufacturing, energy, and critical infrastructure. Exploits targeting these systems can cause widespread disruption, underscoring the need for specialized security measures tailored to these environments.

Strategic Insights for CISOs

CISOs across Australia and New Zealand must prioritize cybersecurity strategies that address both immediate and long-term risks. Here are several strategic takeaways for CISOs based on the Threat Landscape Report 2024:

• Given the rise in sophisticated attacks like RaaS and supply chain breaches, CISOs should prioritize proactive security measures such as vulnerability management, continuous monitoring, and threat intelligence sharing. Investing in comprehensive threat detection tools, like Cyble Vision, can help organizations stay alert to cyber threats in the modern world.
• With incidents like ransomware and data breaches on the rise, it is essential for organizations to have a robust incident response plan in place. Engaging with Cyble’s incident response and digital forensics services can help organizations swiftly identify, contain, and mitigate cyberattacks.
• As critical infrastructure remains a primary target, with 11% of cyber incidents in the report related to this sector, CISOs should invest in specialized security solutions to safeguard critical systems. For example, Cyble’s IoT and ICS security tools can help identify vulnerabilities in these environments, reducing the risk of significant disruption.
• The complex nature of cyber threats necessitates using advanced Cyber Threat Intelligence (CTI). Using platforms like Cyble Vision, Hawk, and ODIN, CISOs can access real-time threat data and better understand attack trends, improving decision-making and response times.

Cyble’s Role in Mitigating Cyber Threats

The ANZ Threat Landscape Report 2024 highlights the escalating sophistication of cyber threats targeting organizations in Australia and New Zealand, ranging from RaaS attacks to IoT and ICS systems vulnerabilities. To fight against these threats, CISOs need a comprehensive, proactive approach to cybersecurity. Cyble, a leading threat intelligence provider, offers several cybersecurity solutions to help organizations understand and fight against these challenges.

1. Attack Surface Management (ASM)

Cyble’s Attack Surface Management (ASM) solution helps organizations gain visibility into their digital footprint, identifying potential vulnerabilities before they can be exploited. Cyble’s ASM tools can detect exposed assets, including software vulnerabilities like those detailed in the Threat Landscape Report 2024, such as CVE-2024-21887, by continuously monitoring and analyzing an organization’s attack surface. With real-time alerts and actionable insights, ASM allows CISOs to stay ahead of threats and ensure timely remediation.

• Cyber Threat Intelligence (CTI)

One of the most significant takeaways from the report is the increasing complexity and scale of cyber threats. To stay ahead of attackers, organizations need actionable threat intelligence. Cyble’s Cyber Threat Intelligence (CTI) solutions provide real-time insights into emerging threats, from RaaS to politically motivated attacks. By aggregating data from various sources, including the dark web and hacker forums, Cyble’s CTI platform helps organizations understand threat actors employ tactics, techniques, and procedures (TTPs), enabling a faster, more targeted response to potential attacks.

• Dark Web Monitoring

As data breaches and ransomware attacks become more common, compromised information is often sold or traded on the dark web. Cyble’s Dark Web Monitoring solution helps organizations continuously scan for leaked data, stolen credentials, and other sensitive information that may be used in attacks. For CISOs, this means enhanced visibility into the risk of data exfiltration and the ability to take swift action to mitigate the potential impact of a breach.

• Incident Response and Digital Forensics

The ANZ Threat Landscape Report 2024 highlights that supply chain threats and data breaches raise business concerns. In a cyberattack, quick and efficient incident response is crucial. Cyble’s Digital Forensics & Incident Response (DFIR) services help organizations investigate and recover from cyber incidents. By identifying the root cause of an attack and mitigating its impact, Cyble’s expert team ensures that businesses can resume operations with minimal downtime.

• Vulnerability Management

Cyble’s Vulnerability Management solution provides advanced scanning and remediation strategies that give organizations a comprehensive view of exploitable vulnerabilities. According to the Threat Landscape Report 2024, flaws like CVE-2024-56789, which affects cloud platforms and virtual machines, are increasingly exploited. With Cyble’s solution, businesses can proactively identify and address vulnerabilities, reducing the likelihood of successful cyberattacks and minimizing the risk of exploitation.

• Brand Intelligence

Another key area highlighted in the Threat Landscape Report 2024 is the rise in brand impersonation, phishing attacks, and fraudulent domains targeting businesses. Cyble’s Brand Intelligence services help protect organizations from these threats by identifying fraudulent activities that could damage a company’s reputation or lead to financial losses. By monitoring fake websites, social media impersonation, and phishing attempts, Cyble helps companies safeguard their digital presence.

• Executive Monitoring

Cyble’s Executive Monitoring Solution offers comprehensive protection for executives by actively monitoring and tracking impersonations, deepfake content, and leaks of personally identifiable information (PII) across social media, dark web platforms, and cybercrime forums. Utilizing advanced AI technology, the solution can quickly identify and remove manipulated media, including deepfakes, in real time. This helps protect the reputation and integrity of key personnel by preventing identity theft, reputation damage, and the exploitation of sensitive information.

• Physical Security Intelligence

Cyble cybersecurity solutions offer comprehensive threat management that provides real-time updates to identify and address potential physical security risks proactively. Designed to protect assets and personnel, the solution ensures that security measures are always up-to-date and effective. With a centralized oversight platform, organizations can easily manage security across multiple locations, including offices and warehouses, from one unified interface. This streamlined approach by Cyble’s physical security intelligence helps improve operational efficiency while ensuring security remains a top priority across diverse environments.

• Takedown Services

Cyble offers powerful tools to combat online fraud and cybercrime by identifying and removing malicious content. These takedown services ensure that fraudulent activities and harmful online threats are promptly addressed, helping to protect organizations from reputational damage and financial loss. Cyble’s solution provides a critical layer of defense by disrupting cybercrime operations and protecting digital environments from online threats.

1. Bot Shield

Cyble offers advanced intelligence on compromised hosts within your network, providing detailed insights into infected devices communicating with known command-and-control infrastructures. This bot shield solution helps detect and mitigate botnet activities by identifying and isolating compromised devices, preventing further exploitation. By monitoring and addressing threats in real-time, Cyble enhances network security and protects your organization from potential cyberattacks driven by botnet infections.

1. Third Party Risk Management (TPRM)

Cyble’s Third-Party Risk Management (TPRM) solution helps identify and mitigate risks associated with third-party collaborations, ensuring secure business operations. By assessing the security posture of vendors and partners, Cyble enables organizations to proactively manage potential vulnerabilities in their supply chain and external relationships.

1. Cloud Security Posture Management (CSPM)

Cyble’s Cloud Security Posture Management (CSPM) solution continuously monitors cloud environments to identify misconfigurations and ensure compliance with security policies. Consistent evaluation of cloud infrastructure helps businesses secure their cloud platforms, mitigate potential security gaps, and enhance the overall security posture, providing real-time protection against cloud threats.

Conclusion

The ANZ Threat Landscape Report 2024 vividly describes the growing cybersecurity threats facing organizations across Australia and New Zealand. With ransomware attacks, politically motivated cybercrimes, and critical infrastructure vulnerabilities on the rise, CISOs must be more vigilant than ever in strengthening their organizations’ defenses.

Cyble offers a suite of cybersecurity solutions for organizations in Australia and New Zealand, including Cyble Vision for real-time threat intelligence and vulnerability management, Cyble Hawk for national security insights, Odin for internet scanning and vulnerability detection, AmIBreached for dark web risk mitigation, and The Cyber Express for expert cybersecurity news. These tools help organizations proactively address threats and enhance security in a complex cyberspace.

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