Top Fraud Cyber Threats Organizations Faced in 2024 and What to Expect in 2025

2024: A Surge in Cyber Threats and Proactive Defense

Phishing and compromised credentials remained the most common attack vectors, with an average containment time of 292 days, significantly amplifying financial and reputational damage. At Appgate, our Security Operations Center (SOC) responded to more than 100,000 threat takedowns globally—a 52% increase compared to 2023—illustrating not only the evolving creativity of attackers, but also the challenges organizations face in mitigating these risks in real time.

Amid these challenges, advances in AI and automation have emerged as game changers. Organizations leveraging these technologies reported an average reduction in breach costs of $2.2 million and shortened containment times by nearly 100 days. However, persistent cybersecurity skills shortages continued to exacerbate vulnerabilities, with more than half of affected organizations citing severe resource gaps.

As we reflect on the shifting trends of 2024, this blog will delve into the key cyber threats that defined the year and explore what organizations can expect (and prepare for) in 2025.

Trends Observed in 2024

1. Attack Diversity and Complexity:
   • Phishing remained the most common attack, accounting for 85% of cases globally.
   • Fake social networks and information disclosure saw a significant rise, especially in LATAM, where they constituted a growing share of incidents​.
2. Regional Impact:
   • Globally: Japan, Argentina and the US experienced the highest volume of attacks in 2024, with phishing accounting for 86% of all reported incidents, highlighting the pervasive nature of this threat.
   • In LATAM: Argentina, Brazil and El Salvador were the most affected countries, where fake social networks dominated the threat landscape and were responsible for 56% of attacks. This emphasizes the growing challenge of social media exploitation in the region.
3. Growing Attack Volumes:
   • The sharp rise in ticket volumes reflects the increasing digital activity and evolving creativity of attackers in exploiting security vulnerabilities.
4. Proactivity Growth:
   • Despite the rise in attack volume, our proactivity rate consistently averaged above 80%, a testament to the advances in real-time threat detection and mitigation​.

What to Expect in 2025?

Based on observed trends and emerging technologies, we can anticipate the following:

• Sophistication of Phishing Attacks:
  Attackers will likely continue to leverage AI to craft increasingly sophisticated phishing campaigns that are harder to detect, targeting individuals and organizations with greater precision.
• Emergence of New Threat Vectors:
  The growing use of fake social networks and information disclosure attacks suggests a shift toward exploiting personal and professional digital profiles.
• Increased Attack Volumes in Key Regions:
  LATAM, particularly Argentina, Brazil and El Salvador, is expected to remain a hotbed of activity due to its rapid digitalization and economic dynamics.
• Operational Strain from Attack Growth:
  Organizations will face the challenge of managing escalating ticket volumes while ensuring rapid response times to minimize impact.

2025 Outlook: Preparing for the Future

As cyber threats continue to evolve, organizations must adopt proactive and multi-layered cybersecurity strategies to navigate the challenges of 2025 effectively. The following practical steps can help mitigate risks and strengthen resilience:

1. Leveraging AI and Automation for Advanced Threat Detection
   • Invest in AI-Driven Threat Analysis: AI can significantly enhance real-time threat detection and accelerate response times. Organizations should deploy machine learning models to identify anomalous behavior and emerging threats.
   • Automate Routine Security Tasks: Automation can alleviate operational strain by managing repetitive tasks such as log analysis and patch management, allowing teams to focus on critical security incidents.
   • Enhance Phishing Detection: AI-powered email filters and endpoint protection solutions can help combat increasingly sophisticated phishing attacks.
2. Strengthening Data Security and Access Controls
   • Control User Access: Enforce strict identity and access management (IAM) policies, ensuring  users and devices are continuously authenticated and monitored.
   • Encrypt Critical Data: Protect sensitive information with robust encryption standards, both in transit and at rest, to minimize the impact of breaches.
   • Monitor Shadow IT: Implement tools to discover and secure unauthorized applications and devices connected to the network.
3. Building a Resilient Workforce
   • Upskilling for Security Teams: Regular training programs are essential to address cybersecurity skills gaps and equip teams with the knowledge required to tackle evolving threats.
   • Employee Awareness Programs: Educating employees about identifying phishing attempts, social engineering tactics and other common attack vectors can reduce vulnerabilities.
   • Cross-Department Collaboration: Encourage collaboration between IT, security and business units to align cybersecurity measures with organizational objectives.
4. Enhancing Incident Response Capabilities
   • Develop and Test Response Plans: Regularly update and test incident response plans to ensure readiness for potential breaches.
   • Invest in Threat Intelligence: Leverage global threat intelligence platforms to anticipate and prepare for new attack vectors.
   • Collaborate with External Partners: Partner with law enforcement and threat advisory services to address sophisticated attacks like ransomware and data extortion effectively.
5. Preparing for Regional Threat Variations
   • Address LATAM-Specific Risks: In regions like LATAM, prioritize protection against social media exploitation and fake network threats, which are also expected to rise.
   • Global Adaptation: Adapt security strategies to regional differences in attack patterns and compliance requirements. We understand that the US and APAC frameworks are completely different.

By focusing on these actionable strategies, organizations can mitigate the risks of 2025 and build a robust cybersecurity framework. As the digital landscape continues to evolve, preparation, collaboration and adaptability will be the key pillars of a successful defense strategy.

360 Fraud: Partner with Appgate to Navigate the Threat Landscape

As cyber threats grow in volume and complexity, organizations need robust solutions to safeguard their operations and protect sensitive assets. Appgate’s 360 Fraud Protection Suite is designed to empower businesses with the tools they need to address the evolving challenges of fraud and cyberattacks.

Our suite offers:

• Real-Time Fraud Detection: Utilizing advanced analytics and machine learning, 360 Fraud identifies and mitigates fraudulent activities as they occur, minimizing potential damages.
• Comprehensive Threat Mitigation: From phishing attempts to social engineering attacks, Appgate’s 360 Fraud solutions provide end-to-end protection tailored to unique organizational needs.
• Scalable Solutions: 360 Fraud adapts to the infrastructure needs of both global enterprises and growing businesses, ensuring consistent and reliable security.

At Appgate, we understand that the digital threat landscape is constantly shifting. That’s why we don’t just offer solutions—we partner with organizations to develop tailored strategies that align with their unique vulnerabilities and goals. Together, we can navigate the risks of 2025 and beyond, building resilience against emerging threats and safeguarding critical assets.

Learn more about how 360 Fraud Protection can protect your organization by visiting our Demo Hub, or reaching out to our team. Let’s face the challenges of the future together.