July 21, 2017
Cyber crime is rising at such an alarming rate that no one – not businesses or individuals – can afford to take it for granted.
According to a recent post, the cost of cyber crime jumped from $100 billion (Euro 86.7 billion) in 2014 to $400 billion (Euro 346.9 billion) in 2015 to an estimated $2.1 trillion (Euro 1.82 trillion) globally by 2019.
One of the most important ways to fight back is to stay on top of cyber security trends and to put as many safeguards in place as possible.
1. Internet of Things (IoT)
More and more systems and products in the workplace and at home have become automated. Devices ranging from coffee makers and televisions to security cameras and wearable devices now have built-in interconnectivity and Wi-Fi capabilities. But many of these devices have little or no security.
This virulent form of malware locks files and computers until the ‘victim’ pays a ransom. It is forecast to spread to IoT devices, PoS (Point of Sale) systems, and ATMs (cash machines).
Already common in workplace and personal computers, phishing scams will show up more on mobile devices too. Hackers send personalized messages via fake emails, calls or SMS. The goal is to get the victim to provide sensitive information or click on a link containing malware.
4. Social Media
Many people habitually share confidential information on social media. But hackers research these channels for information to use in phishing scams.
5. Public Wi-Fi
Unsecure Wi-Fi is easy picking for cyber criminals.
6. ‘Support’ Scammers
Scammers contact victims by phone or email (or internet pop-up ads) claiming to be a tech support company representative that has identified a problem on a computer and can fix it.
7. Fraudulent emails
According to the 2017 Internet Security Threat Report by Symantec, one in 131 emails contained malware. Business email compromise (BEC) scams target over 400 businesses every day by using social engineering and computer intrusion techniques to compromise business email accounts – and steal money.
8. Bad Apps
Many apps for mobile devices have little security and may contain malware.
Poor password hygiene has been blamed for many major breaches (for example, using the same password for different accounts and not changing passwords).
10. Old hard drives
Research has shown that legacy equipment (mobile and desktop) contains residual digital information that can be recovered and misused by information thieves. Many companies still stockpile old hard drives, increasing the risk of a data breach.