Between 2008 and 2021, the Federal Bureau of Investigation reported a 217 percent rise in Cybercrime Reporting. Last year, losses were over $7 billion. This is because a highly skilled cyber-threat supply network enables threat actors with less know-how and resources to jeopardize personal, economic, and national security.
Unfortunately, cybercrime has not been eradicated. According to a new analysis from HP Wolf Security, emerging technologies like AI and quantum computing could be leveraged to enrich criminal groups and serve national-state ambitions. Resistance will be based on security expertise, preparation for the worst, and encouraging cross-industry cooperation.
This Is The Story So Far
Criminals have been using the Internet since its inception. In the 1990s, enthusiasts utilized Internet Relay Chat to chat online about topics such as hacking and exploit development. The emergence of commoditized malware tools had lessened the high barrier to entry for hackers. In the late 2000s, financially driven groups began to coalesce around banking fraud. Recent threats have switched to data denial and destructive attacks, leveraging "as-a-service" models and monetizing via ransomware.
The hallmark of today's cybercrime economy is complex supply networks comprised of highly competent individuals. The most crucial aspects are access to networks, control, and persistence, regardless of whether you use credentials or attack flaws. Both have become more economical and accessible, with lower entrance barriers. The report was created after a three-month investigation of underground markets and forums. It discovered that compromised RDP credentials sell for an average of $5 per copy, that almost all exploit-related ads are listed for less than $10, and that nearly all malware adverts are published for less than $10.
Malware vendors provide value-added services that facilitate the launch of assaults. These services give one-on-one mentoring, excellent customer service, and inexpensive malware hosting via bulletproof host providers. According to the report, just 2-3% of vendors code, reducing cybercrime to a series of recurring, procedural activities from which threat agents can continue to profit.
In this new world, trust and reputation are critical. Vendor feedback scores are not uncommon, and many platforms offer dispute resolution and escrow payment. Furthermore, we discovered that 77% of illicit markets demand a vendor bond or license to sell. This can result in threat actors spending hundreds of dollars. Because of the importance of Tor-based sites and their short lifespan, fraudsters have devised methods for transferring their reputation between markets.
Looking Out At The Horizon
We are likely to see the same level of collaboration, specialization, and professionalization as previously. Hackers will continue to exploit corporate attack surfaces, and the number of extortion attacks may increase in order to inflict the most impact. Hackers will use tools and techniques that were previously exclusively available to a few groups. The distinction between cybercrime and nation-state actors will continue to blur as hostile regimes either hide criminal gangs or invest in cybercrime to create cash in order to avoid sanctions.
As in the past, they will continue to be the first to adopt emerging technologies. Quantum computing may be used to speed up decryption. Web3's idea of a decentralized, Blockchain-based internet may create new chances for reputation systems that aid criminals, which may be more difficult to destroy. Using previous conversations, artificial intelligence might be used to automatically identify targets from victims' addresses and build convincing spear-phishing assaults. This would aid in increasing ROI.
Collaboration, Best Practices, And Resilience
To tackle the rising tide of cybercrime, we must all do more. This means that people need to be more alert about cybercrime. Organizations must be more aware of the fundamentals and plan for resilience.
The ability to follow best practices such as multi-factor authentication and IT asset discovery and management is considered basic expertise. It also entails prioritizing self-healing hardware to improve resilience in the case of a breach. Organizations must also block popular attack vectors like email and the internet. Threat containment or isolation measures could be used to neutralize these.
Following that is resilience, which may be achieved by putting in place the people, procedures, and technology to identify, prevent, and recover from any attack before it becomes serious. It entails anticipating the worst-case scenario, developing systems to reduce supply chain and insider risks, and frequently rehearsing incident response.
Even if your resources are low, there are Ways To Protect Your Company From Cybercrime.
1. Employee Training Should Be Conducted
Employees who are not properly taught pose a significant risk. Employee cybersecurity training is critical. One of the most significant security risks is phishing. Employee security threat training should not be done only once. Regular cybersecurity training is required to stay current with new technology and prevent new hires from introducing security issues.
2. Make A Plan For System Security
The system security plan (SSP) is a summary of all the security mechanisms in place to secure your data. The SSP defines system features such hardware, software, and security measures. It also specifies training procedures and incident response plans. This article describes how to limit access to authorized users, ensuring employees develop secure habits, and aid in the event of a security breach. This document also aids in the prevention of things falling through the cracks during hectic schedules. You can save money if your IT staff is capable of doing this duty. Otherwise, you should consider hiring a consultant. An ineffective SSP can cost you even more money.
3. Maintain Software Up-To-Date
SMBs are frequently too busy to ensure that their software is up to date. However, obsolete software can put your company's security at danger. Hackers are known to research the most recent software updates and target companies who have yet to implement them. According to Fortinet's 2017 Global Threat Landscape report, 60% of security breaches were caused by vulnerabilities that were more than ten years old.
4. Enforce secure password policies
Passwords should not be reused and should always be maintained up to date. Simple passwords can potentially be cracked by hackers. A password-cracking expert discovered a tool in 2012 that could circumvent any eight-character password. This is why passwords should be at least eight characters long. The more difficult the password, the better.
5. Security Outsourcing
If you are feeling overwhelmed by the prospect of dealing with cybersecurity challenges, there are numerous options available to you. Many small businesses put cybersecurity on the back burner because they don't fully grasp it. This could be your undoing.
Many IT firms specialize in assisting small businesses in increasing their security. Anti-malware and anti-ransomware technology are sometimes easier solutions. Malware is responsible for 28% of security breaches, according to Verizon study. You can lower your security risk by employing malware-blocking software.
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ways to protect your company from cybercrime, federal bureau of investigation fbi, cybercrime reporting
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