2024 Cybersecurity Developments Summary:
Cybersecurity remained a top concern in 2024, marked by major data breaches, regulatory scrutiny, and evolving laws. High-profile breaches included the unprecedented medical data theft affecting 190 million individuals and significant ransom payments, highlighting vulnerabilities across sectors. Regulatory enforcement intensified with the SEC, DOJ, and FTC pursuing actions against companies for inadequate cybersecurity practices and deceptive disclosures. Legislative updates saw states enacting stricter data protection laws and privacy statutes, while federal agencies implemented new rules to enhance breach reporting and incident responses. Litigation continued, with courts increasingly evaluating standing in data breach cases, revealing disparities in judicial approaches across circuits. Overall, the year emphasized the need for proactive cybersecurity measures amidst rising threats and regulatory pressures.