A report was issued by Kaspersky on cybercrime programs and its forecasts related to the financial sector for the year 2024, emphasizing the necessity for strong defense capabilities of companies and financial institutions in that year in anticipation of the expected increase in cyber threats that rely on artificial intelligence capabilities and advanced technological developments.
Experts at Kaspersky predict an increase in internet attacks in 2024, exploitation of vulnerabilities in direct payment systems, resurgence of Brazilian Trojan horse software targeting the banking sector, and an increase in malicious programs using backdoors to penetrate open-source software.
The Kaspersky report also includes a comprehensive review of the accuracy of its predictions for the previous year, focusing on trends such as the rise of threats in Web 3 and increased demand for malware download tools. Overall, adapting to the advanced security landscape in 2024 requires the adoption of proactive security strategies, collaboration between sectors, and the implementation of innovative defenses.
Over the past year, Kaspersky experts correctly predicted an increase in web threats by 3%, the pursuit of malicious software download tools by intruders, and ransomware groups shifting to destructive activities in the current year. While their predictions have not yet materialized regarding the “Red” team structures and the shift of cybercriminals away from using Bitcoin currency.
Kaspersky expects an increase in advanced cyber attacks in 2024 using artificial intelligence technology, which will masquerade as legitimate communication channels, leading to the rapid proliferation of low-quality campaigns.
In addition, experts anticipate that cybercriminals will exploit the popularity of direct payment systems, resulting in the emergence of malicious software aiming to capture and copy information stored in clipboards, as well as targeting mobile phone-based banking operations. Families of malicious software, such as Grandoreiro, have expanded beyond Brazil where they originated, targeting over 900 banks in 40 countries.
In 2024, an increase in malicious programs using vulnerabilities in open-source software to penetrate it is expected. This negative use of common open-source software vulnerabilities may pose a threat to many individuals, potentially exposing personal data and causing financial losses.
For this reason, Kaspersky experts anticipate that cybercrime groups will be more flexible in the coming year, with members frequently switching between collaborating groups or working for multiple groups simultaneously, making it difficult for law enforcement to track these groups and effectively combat cybercrime.
In addition, important predictions by Kaspersky include:
1- Global adoption of Automated Transfer Systems (ATS).
The deployment of Automated Transfer Systems on mobile phones outside Brazil is expected to expand, allowing cybercriminals worldwide to exploit these systems for financial gain.
2- Increase in exploiting Zero-Day vulnerabilities:
To increase access opportunities, sources of crime software attacks will shift to using Zero-Day vulnerabilities due to their high reliability and scarcity of Zero-Day vulnerabilities.
3- Improper use of available devices and services:
The improper exploitation of available devices and services will increase, enabling cybercriminals to gain unauthorized access for launching attacks.
In this context, the Chief Security Researcher at Kaspersky’s Global Research and Analysis Team (GReAT), Mark Rivero, stated: “With the continued evolution in cybersecurity in the financial sector, we expect heightened threats and increased automation levels, with cybercriminals persisting until 2024. Therefore, companies and financial institutions must adapt their security strategies early and strengthen their defenses to protect their assets and sensitive data. Success lies in enhancing cooperation between the public and private sectors, forming a unified front to address the escalating risks in financial sector cybersecurity to be ready for the coming year.”
