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What are 4 major cyber security threats today?

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Companies are losing up to $ 2.9 million every minute worldwide due to cybercrime, according to an industry estimate. Despite many highly publicized cybercrime incidents, organizations are often caught off guard when faced with these crises.

Cyberattack

Research shows that the cybercrime problem will only get worse as time goes on. Fortunately, there are many tools and resources available to help organizations avoid most of their cybercrime vulnerabilities.

We want to help you get your company ready for potential cybercrime, so we’ve outlined some of the biggest threats today.

Ransomware attacks

Crimes of ransomware have been booming lately. For example, it is estimated that ransomware attacks increased by 200% in 2018 alone, reaching $ 10.5 billion in losses. The following year, statistics showed that many companies were better prepared, and the number dropped to $ 9.9 billion.

Ransomware attacks remain a major risk for companies in all industries. With COVID-19 and so many organizations working remotely, there are only greater chances that digital systems can be hijacked and ransom demanded.

Due to the serious nature of these threats, about 25% of victim organizations end up paying the criminals. Unfortunately, 1% of those who paid up did not get their private data and information back.

Social media attacks

The use of popular social media channels to commit cybercrime is not new, but it is not as common as others.

Attacking someone on social media requires more research to encourage the target to start interacting. Also, criminals often set up fake profiles, but it takes a lot of time to make them effective.

Yet, in the future, criminals are expected to use Facebook, Instagram and other social media to commit crimes.

Mobile malware attacks

Like many cybercrime activities, mobile malware is increasing in complexity and efficiency. In 2020, Microsoft discovered new types of malware for Android. It was the latest evolution of mobile ransomware and incredibly sophisticated.

The malware can disable the Android device and force you to cough up money to get your data and service back. Who would want to pay someone to access your own device? And it may not even work!

Unfortunately, the evolving sophistication of mobile malware attacks will not end soon. Technical experts are expecting even more advanced variants soon. Machine learning is mostly responsible for the growing complexity.

Help your team avoid mobile malware threats; tell them to think carefully about every website they visit. Is it a legal and well known website or something fish?

Furthermore, employees should be careful about any file they download and the links they click on. Every time they click on a rogue email link or do not update their mobile software, they and their organizations are at risk.

It is best to have each employee install an advanced cyber security application on their phone to sniff out these threats.

Fortunately, regular training of employees is a great help in avoiding these daily risks. One recent study revealed that quarterly training improves employees’ ability to catch fishing efforts.

Cryptocurrency exchanges

Crypto exchanges saw a 1000% increase in the first part of 2021 compared to the same period the year before. And most cryptocurrency attacks have come on social media.

Experts say they think crypto companies will be more aggressively targeted by cyber thieves this year. After all, crypto exchanges contain a lot of money.

One cybercrime generated $ 612 million worth of stolen digital tokens from Poly Network. Success like this only breeds more effort.

As organizations map out their plans for this year and beyond, the cybercrime minefield needs to be carefully considered. If your company does its job of prioritizing and allocating funds for the fight against cybercrime, it will be more successful and productive in the future.

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