The fact is that the cybercrime business has never been bigger – it’s estimated that the global cybercrime industry will cause up to $6 trillion in damages in just a few years.
Corporate Account Takeover has reportedly caused more than $5 billion in damage in just one year alone. All a hacker has to do is get someone’s login info, impersonate them, and then transfer funds that they’re given control over.
Cybercriminals acquire the log-in credentials through social engineering:
Identity Theft complaints rank among the highest logged every to year by the FTC. After gaining your personal information the cybercriminal can then use that info for financial gain:
Instead of trying to access your funds, cybercriminals may also opt just to steal your data and sell it directly.
Recently, cyber thieves released a huge list of compromised emails and passwords that contained 773 million records. If your information has ever been breached, it’s most likely on this new list – and that list is for sale on the Dark Web.
Ransomware infects the target system with malware that encrypts the data and holds it for ransom. Ransomware penetrates systems either through phishing or through vulnerabilities in many web browsers. Hackers spam users with pop-ups informing them of an “infection” or “security alert” prompting them to click a link, which infects them with the ransomware.
Be sure to follow these tips, which are applicable to organizations, employees and individual computer users:
Every organization should set a security policy, including things such as:
User education plays a big part in minimizing the danger, so start here:
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