How cybercrime cases increased post pandemic? - Kalkine Media

November 13, 2021 01:30 AM AEDT | By Samta
Follow us on Google News:

Highlights 

  • COVID-19 brought a change in the whole world’s working system.
  • Cybercriminals are adopting new tactics to attack people working from homes.
  • Analysts forecasted global spending on cybersecurity to surge over US$133.7 billion by FY22.

With most organisations being forced to work from home, hackers have been using new tactics to attack people. This is alarming. Many companies are in a constant fear of losing their valuable data with increasing data breaches and cybercrime cases.

Many employees have also been facing a range of technical problems while from working a no-office environment, including inadequate data and cyber security.

 

Inappropriate cyber and data security are hampering the productivity of various employees in work from home that paving the way for hackers.

Pandemic witnessed cybercriminals switching their tactics to exploit COVID-19 related fears among various individuals, where work from home has become a new gateway to new types of cyberattacks.

Additionally, personal data was the most prevalent information exposed in data breaches, accounting for 44% of all violations. Combining these variables could result in a spiral effect, with data breaches providing attackers with leverage for further data breaches.

Image Source: © Olivier26 | Megapixl.com

image description – Hacker committing cyber crime

What does hacking stats reveal?

As per media reports, more than 60% of the organisations experienced social engineering and phishing attacks in 2019, with only 5% adequately protected companies. One-quarter of all employees noticed a surge in malicious emails, phishing attempts, and spam since the pandemic

According to internet security statistics, every 32 seconds, hackers attack someone online, leading to a cybercrime being committed roughly 2,244 times per day. The smaller businesses have suffered the most, with the highest targeted malicious email rate (1/323).

RELATED READ - Hackers siphon off about US$97M from Japanese crypto exchange

The rapid shift to remote work has led to major expensive data breaches where each data breach costs over US$1 million on an average. According to various media sources, in 2021, companies have spent around US$4.24 million per breach, which is the highest in the last 17 years. Furthermore, due to increasing cyber-attacks, analysts are predicting global spending on cybersecurity to surge over US$133.7 billion by FY2022.

What are the new ways of cyber-attacks?

In modern days, hackers attack individuals and organisations through different tactics. Let’s look at few of them.

Man-in-the middle attack –

The hacker tracks the communication between two parties to spy the victims to steal their personal data. However, with data encryption, users have some relief.

AI-Powered attacks

This is the most dangerous tactic used by hackers, as no one knows the capability of such attacks. The most notable AI-powered attack has used slave machines to perform substantial DDoS attacks. 

 

DDoS attack or Distributed Denial-of-service attack is where a hacker floods a target server in load, attempting to disrupt the target. Such a type of attack can leverage multiple compromised devices to attack the target with traffic. Unlike humans, AI-powered attacks can work 24*7, as they are fast, efficient, and affordable and can efficiently learn various approaches to identify software vulnerabilities quickly.

RELATED READ - How is Artificial Intelligence impacting the Australian tech world?

IoT-based attacks – 

 

Devices with IoT or the internet of things are less secure than most modern-day operating systems. It’s also a relatively new concept along with AI or artificial intelligence. As a result, hackers can target security systems, smart thermometers or launch a large-scale DDoS attack.

Bottomline

With game-changing technologies, individuals and various businesses need to be more careful while surfing the internet. Increasing spam or phishing emails require extra attention as hackers are getting more modern with the rise of AI and other advanced technologies.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.



Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK