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This is what happened to a timber supplier in 2018 due to a ransomware attack. The sudden shift to remote working caused employees of affected companies to use their personal devices at home to do their work. This trend was already in progress prior to the COVID-19 pandemic, but since then cybercriminals have doubled down on their extortion efforts to get their hands on COVID-19 vaccine research data. In 2020, 96% of social action cyberattacks arrived via phishing email. More application security vulnerabilities especially when code is widely used, such as the. It was already a widely targeted industry for cyber espionage campaigns and intellectual property theft, but the percentage of all attacks detected by NTT has increased from 7% in 2019 to 22% in 2020, and will rise higher still throughout 2021 if the trend continues.15, The Morto worm comprised 34% of all malware detections in manufacturing during 2020, making it the most detected malware in that industry. Global Thought Leader in Cybersecurity and Emerging Tech. If you are interested in learning more about the SafeGuard Cyber solution, you can take a quick 5-minute tour. 6. Cybercrimnals establish their foothold by sending a phishing email to an upper-level executive at a large company, usually someone who is authorized to issue and request large transfers of money. Ransomware is the most common reason behind our incident response engagements from October 2019 through July 2020. IT Governance reports that there were 151 cyber attack incidents in March 2021, with nearly 21 million records breached by cybercriminals. The increased integration of endpoints combined with a rapidly growing and poorly controlled attack surface poses a significant threat to the Internet of Things, Brooks explained. Statistics for H1 2021, Akamai State of the Internet Volume 2, Issue 2: Phishing for FinanceAkamai State of the Internet Volume 2, Issue 2: Phishing for Finance, Varonis 2021 Data Risk Report: Financial Services, BlueVoyant Cybersecurity in Higher Education, National Cyber Security Centre Advisory: APT29 targets COVID-19 vaccine development, ZDNet Windows 7: A year after the end-of-support deadline, millions choose not to upgrade. As concluded by PhishMe research, 91% of the time, phishing emails are behind successful cyber attacks. Today's cyber attacks target people. While crimes committed in person (such as robbing a store) are usually noticed immediately, skilled cybercriminals have the advantage of remaining undetected for months while they take their time to steal their targets valuable information.18. According to Trend Micro's Annual Report, if there is one thing cybercriminals are good at, it's being opportunistic. At the rate cybercrime is moving now, 2021 could turn out to be a record year.24, In 2020, the FBIs Internet Crime Complaint Center (IC3) experienced a 69% increase in the volume of cybercrime complaints received since 2019. Ransomware attacks are a key cybersecurity threat for global organizations, warns Verizon's 2018 Data Breach Investigations Report (DBIR). If your business uses even a single computer or smartphone to conduct its operations, then it is at risk of falling victim to a cybercriminal searching for a big pay day. Phishing, an online threat that emerged in the mid-1990s, today. You may opt-out by. Insider Cyber Attacks. Last December in The Top 21 Security Predictions For 2021, I noted the following summary of expected trends for 2021: Industry expertChuck Brooks also offered these security predictions for the new year on the AT&T website. According to Wombat Security State of the Phish, 76% of businesses reported being a victim of a phishing attack in the last year. Another 3% are carried out through malicious websites and just 1% via phone. Hospitals and other organizations in the healthcare industry were already suffering from a widespread lack of staff and budget to deal with cyber security risks, and the abrupt changes caused by the pandemic only worsened existing IT weaknesses. 83% of small and medium-sized businesses are not financially prepared to recover from a cyber attack.. Turns out your inbox might not be as safe as you think, with a report from Trend Micro revealing that three-quarters of all cyberattacks start with phishing emails. It only takes one successful phishing attack to compromise your network and steal your data, which is why it is always important to Think Before You Click. Spear Phishing Meaning. For more detailed advice on how to keep your business safe online, follow these useful internet safety tips. The research found that malicious actors were quick to exploit workers growing dependence on email throughout 2021, with more than 10 million instances of spam fishing taking place throughout the calendar year. Recovering from cyber attacks can take up a major portion of a companys budget. 4 Companies Were Responsible for Kaspersky's Top 20 Software Vulnerabilities Application-specific and web application attacks together made up 73% of all attacks on finance.15, The rise in application-specific attacks is explained by each organizations increased use of web applications, cloud technologies, mobile applications and client portals as organizations rapidly moved their operations online during the COVID-19 pandemic.15, More than 736 million web attacks against financial institutions were recorded in 2020, out of a total 6.3 billion web attacks recorded that year. Business owners may be underestimating the threat of ransomware, however, MSPs are not. The average sum of a wire transfer from a BEC attack increased throughout 2020, according to a nonprofit organization called the Anti-Phishing Working Group (APWG). DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. They all have unique operational frameworks, access points, and a variety of legacy systems and emerging technologies. 10. Our global network of member firms and related entities in more than 150 countries and territories (collectively, the Deloitte organisation) serves four out of five Fortune Global 500 companies. Attackers do this by earning the recipients trust first. Plus, the World Economic Forum's 2020 Global Risk Report states that the rate of detection (or prosecution) is as low as 0.05 percent in the U.S. While companies struggled to adapt to the chaos and confusion, their guard was let down long enough for cyber criminals to establish a foothold in protected corporate environments. The Top 22 Security Predictions for 2022 The Top 22 Security Predictions for 2022 (govtech.com), Dan Lohrmann is one of the worlds most knowledgeable and prolific cybersecurity experts. For businesses with fewer than 1,000 employees, 44% of all data breaches were caused by malicious employees.2. On top of that, 32% of all successful breaches involve the use of phishing techniques. Since phishing is one of the most popular tactics of hackers, cybersecurity experts keep track of increases in the use of phishing around the world. The preponderance of social engineering methods suggests that cybercriminals take advantage of the emotions or negligence of human beings more often than they target system vulnerabilities.1, Type of Attacks that Resulted in Data Breaches. zeyong@deloitte.com. New phishing campaigns discovered impersonating the WHO and popular conferencing platforms, to steal sensitive information; Check Point has seen 192,000 coronavirus-related cyber-attacks per week over the past three weeks, a 30% increase compared to previous weeks; In the past three weeks, almost 20,000 new coronavirus-related domains were registered: 17% of these are malicious or suspicious They reached 5 million complaints in March 2020, and it only took 14 more months to reach 6 million complaints in May 2021. . Here are two: Road to success concept and sustainable development idea. Every minute $17,700 lost from phishing attacks. Stay up-to-date on the latest social engineering, insider threats, and ransomware vulnerabilities. Brazil, for example, has an awful . This includes the Morto worm scanning for open RDP ports.15, In the first half of 2021, 33.8% of industrial control systems (ICS) were attacked, indicating a 0.4% increase from the second half of 2020. The data goes some way to explaining why certain countries suffer such crippling healthcare cyberattacks. Yes, platforms might vary due to various types of phishing attacks; but, the attack method tends to remain identical in all situations. Phishing attacks have increased by a massive 600% since the end of February, as bad actors seek to exploit the fear and uncertainty of the current moment. This. 2020 saw more than 10 million attacks occur, 1.6 million attacks more than the previous year. This was up 46% from the 182,465 for the second quarter, and almost double the 138,328 seen in the fourth quarter of 2018. Spear phishing is an email targeted at a specific individual or department within an organization that appears to be from a trusted source. And the COVID-19 pandemic has only made things worse. Tons of high-profile IoT hacks, some of which will make headline news. The views and opinions expressed in this article are those of Ho Siew Kei, Executive Director, Risk Advisory Cyber Risk, Deloitte Malaysia. The total cost of all cybercrime damages in 2021 is expected to amount to about. Additionally, 78% of organizations say their security awareness training activities resulted in measurably lower phishing susceptibility, but 31% of employees failed a phishing test.1, Verizon reports that 36% of all data breaches experienced by companies of 1,000 employees or more were caused by malicious employees. ZDNet estimates that 100 million Windows users are running Windows 7 systems as of December 202021, out of an estimated 1.2 billion total Windows users22. Marketing and Communications Roughly 90% of data breaches occur on account of phishing. 70% of data breaches were caused by external actors, with 30% the result of insiders. Find out how vulnerable your users are to today's biggest cyber threats in the 2022 State of the Phish report. Phishing attacks have increased by a massive 600% since the end of February, as bad actors seek to exploit the fear and uncertainty of the current moment. Manufacturing was the second most-targeted industry in 2020. 17. The breach was caused by a phishing attack. This was an increase from 82 recorded breaches in January and 118 in February. Since specializing in Digital Anthropology at University College London (UCL), shes been a regular contributor to Market Finances blog and has also spent time working as a freelance tech researcher. With 878 cyberattacks in 2020, 18% of which were ransomware, according to the Identity Theft Resource Center. AI Ethics And AI Law Just Might Be Prodded And Goaded Into Mandating Safety Warnings On All Existing And Future AI, Picsart Adds AI-Powered Image Generation And Copywriting Tools, What You Should Know About The TikTok National Security Debate, Regenerating The Thymus: Profile Of Greg Fahy, AI Ethics And AI Law Grappling With Overlapping And Conflicting Ethical Factors Within AI, Losing My Direction - Merging Formal And Informal Networks (part 2 - Informal Networks), Study: 57% Of Smartphone Users Dont Click On Google Results, Cyber risks top worldwide business concerns in 2022 - Help Net Security, Cybercriminals can penetrate 93 percent of company networks (betanews.com), Businesses Suffered 50% More Cyberattack Attempts per Week in 2021 (darkreading.com), 2021 Must-Know Cyber Attack Statistics and Trends - Embroker, 10 Small Business Cyber Security Statistics That You Should Know And How To Improve Them - Cybersecurity Magazine (cybersecurity-magazine.com), Healthcare Cybersecurity Report 2021-2022 (herjavecgroup.com), Half of internet-connected devices in hospitals are vulnerable to hacks, report finds - The Verge, List secondary lists page (cybermagazine.com), Cybersecurity Threats: The Daunting Challenge Of Securing The Internet Of Things (forbes.com), Ransomware Statistics, Trends and Facts for 2022 and Beyond (cloudwards.net), Ransomware on a Rampage; a New Wake-Up Call (forbes.com), 2022 Cybersecurity Almanac: 100 Facts, Figures, Predictions And Statistics (cybersecurityventures.com), a new attack on a consumer or business every two seconds by 2031, global spending on cybersecurity products and services to $1.75 trillion cumulatively for the five-year period from 2021 to 2025, $23 billion in venture capital devoted to cybersecurity companies in 2021, Verizon 2021 Data Breach Investigations Report, FinCEN Report on Ransomware Trends in Bank Secrecy Act Data, The Top 22 Security Predictions for 2022 (govtech.com), Chuck Brooks also offered these security predictions for the new year on the AT&T website. Some ransomware operators will restore the encrypted data upon payment, but more often than not, they just run away with the money without decrypting the targeted systems. Note that security industry vendor acquisitions have changed many of the familiar names, such as the activities with FireEye, McAfee Enterprise and Mandiant. Google found 27% more phishing websites in January 2021 than were present in January 2020. The dark web will allow criminals to buy access into more sensitive corporate networks. 29 Nov. Antony Savvas at Computerworld UK had a good write-up about this quite interesting news: "Some 91% of cyberattacks begin with a "spear phishing" email, according to research from security software firm Trend Micro. To minimise risk, it is advisable to use different passwords for different applications and sites (e.g., personal email, corporate network, banking, and social media accounts). Even a year after Microsoft stopped issuing security updates for Windows 7, millions of Windows 7 systems remain in use. Cyber fatigue, or apathy to proactively defending against cyberattacks, affects as much as 42 percent of companies. SMBs have been targeted frequently in ransomware attacks within the last two years, according to 85% of managed service providers (MSPs). The most common form of internet crime was phishing, affecting 114,702 victims. This brings the total number of phishing attacks conducted in 2022 to a whopping 255 million. By training your workforce about the dangers of phishing and reminding them to look out for red flags like suspect subject lines, untrustworthy links, and requests for personal information, you can keep more threats at bay by lowering cases of employee negligence. (Verizon 2021 Data Breach Investigations Report), Cost of Data Breach: 2021 saw the highest average cost of a data breach in 17 years, with the cost rising from US$3.86 million to US$4.24 million on an annual basis. Check Point Research (CPR) today reports that from mid-2020 throughout 2021, there has been an upwards trend in the number of cyber-attacks. Please see, Infrastructure, Transport & Regional Government, Telecommunications, Media & Entertainment. According to the FBI, more than 4,000 ransomware attacks occur daily. Let us know if you liked the post. Statistic Source Share 95% of Business Email Compromise losses were between $250 and $984,855 Verizon Data Breach Report (DBIR) 2021 16. A recent survey[5] revealed that 59% of respondents, due to a fear of forgetting passwords, use the same password for multiple accounts, and for as long as possible. hbspt.cta._relativeUrls=true;hbspt.cta.load(3918364, '37b8f729-15c3-4355-8132-afd202387202', {"useNewLoader":"true","region":"na1"}); Guide: Learn how to mitigatethe risks of ransomware attacks. Also, per the report, "phishers are . Human nature and unaware or preoccupied users are considered contributing factors as they can often be tempted to download a file . Average ransomware payments increased by 82%, reaching a record high of $570,000 in . When using public wireless networks, use a virtual private network solution and avoid performing sensitive activities, such as online banking and online purchases. The financial sector suffered the largest financial losses in 2020. That's up 9 percent over 2014 and a stark contrast to the mere 18 percent of attacks that focused on small businesses in 2011. Research states that phishing accounts for 91 percent of all data breaches occurring currently. The brands most commonly used by attackers in fake phishing messages were Microsoft, DHL, and Apple. You can read the full article fromGovCon Expert Chuck Brookson CISO MAG. DTTL does not provide services to clients. Get more delivered to your inbox just like it. The 2019 Verizon Data Breach Investigations Report confirmed that nearly one-third of all cybersecurity breaches involve phishing. Cross-site scripting attacks made up 9%.17, Type of Attack Against Financial Institutions, As of 2021, Varonis reports that financial services employees have access to about 11 million company files on average, including files with sensitive personal and financial information. Therefore, what can we as individuals, do to better protect both ourselves and by extension, our organisations from these attacks? Of all cybercrimes, email phishing is responsible for 91 percent of malicious attacks. How Hackers Profile Victims for Social Media Engineering Attacks, Threat Actors Impersonate WhatsApp in Latest Voicemail Phishing Attack, Multi-Channel Communication Attacks: How Threat Actors Exploit Your Applications. Fortunately, cybercrime doesn't appear to be growing across all critical areas. Between 2013 and 2015, Facebook and Google were scammed out of more than $100-million by a Lithunian hacker running an elaborate fake invoice scam. Cybercrime comes in many different shapes and sizes, and so do its consequences. The eight recommendations above, while not new, are unfortunately rarely practiced by the common user. Compromised or known-malicious websites is one of the main avenues for propagating malware infections on mobile devices or computers. Over 4,000 ransomware attacks per day have been documented since then, which is a 300% increase from the average 1,000 attacks per day recorded in 2015.9. Please see www.deloitte.com/about to learn more. 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