Advances In Cybercrime & How It Can Impact Your Business

Cybercrime continues to adapt and tackle the many available defences. As cybercriminals make growing use of more advanced and even scalable tools to breach vital user privacy, they are getting real results. This means that businesses need to be more proactive in their cyber defenses, as well as more flexible in their approach to emerging cyberthreat trends. 

When data breaches occur in their billions every year, and with that number only growing, staying safe online has never been so important. 

Here are the big cybercrime trends of 2019 that are expected to remain prevalent in 2020, and the potential impacts that they can have on your business.

Advanced Phishing

Phishing scams have been a consistent issue since the early days of the internet. Traditionally, these types of scams were easy to avoid through more intense staff training and an awareness of the latest tactics. Yet, with up to four malware samples being created every four seconds, phishing is one of the fastest and most successful attack types. 

The dark web’s increasing number of phishing kits has meant that even amateur hackers can have access to the tools they need to create effective attack campaigns. These can lead to:

  • Damage to business reputation
  • Lost revenue
  • Reduction in brand loyalty
  • Decreased stock value
  • Regulatory fines
  • Workflow disruption

Phishing scams are generally seen as an effective cybercrime due to human individuals being the weak point in any cybersecurity setup. 

Attacks Through Remote Access

Remote access hacks are growing increasingly common and are expected to rise as smart technology and the Internet of Things continues to develop. These remote attacks can come from any direction, and cybercriminals are even using smart TVs, CCTV cameras and Bluetooth controlled thermostats to gain access to otherwise well-protected systems. Remote access hacks can affect your company through:

  • Information eavesdropping
  • Unauthorized access to sensitive data
  • Ongoing monitoring or manipulation of stored data

The key to this type of hack goes beyond having a strong security culture. It means having the tools that will identify a data breach as it happens. Having strong endpoint protection solutions cannot only help keep your data more secure, but can also limit the time that cybercriminals have access to your systems.

Smartphone Attacks

Smartphones are the ultimate convenience. Unfortunately, they are also convenient for those with malicious intent. From phishing scams to smartphone malware, mobile security is a very real concern. Two-factor authentication is now a step that all employees should integrate into smartphone management, and this is especially vital for those team members that are managing financial and sensitive data when away from their home networks. 

The key is staff awareness. Having regular security update sessions with a team can ensure that they are as aware of the latest threats as possible. From knowing the newest malware delivery systems, to understanding the need for more effective physical security, the more that your team is aware of the potential risks of smartphone use, the easier it will be to protect yourself against them.