• Nearly 50% of analyzed ransomware incidents targeted the construction and information technology sectors. 
• LockBit was declared the most active ransomware group, while 8Base targeted small and midsized businesses.  
• Ransomware attacks grew in complexity, as the frequency of double-extortion techniques increased.
• Inadequate IoT security was leveraged by malicious actors, who utilized these devices for DDoS attacks, botnet attacks and unauthorized access gain. 
• AI presented a new challenge, as malicious actors were able to use this technology to avoid conventional security measures or to create realistic deepfake content. 
• Social engineering tactics leveraged human vulnerabilities and posed a notable threat to organizations. 

In addition to discussing observed trends, the report also predicted trends that may emerge throughout 2024.  

• AI will continue to be exploited for sophisticated attack techniques, including social engineering attempts and biometric security evasion. 
• Mobile devices will become key targets for the exploitation of access points and credentials. 
• As global conflicts continue, hacktivism and hacks-for-hire are predicted to rise. 
• Ransomware operations will change, including the methods used and the information extorted. 

Considering these emerging and predicted trends is essential to improving security efforts in 2024.