Cybercrimes Rise 5 times in 4 years and Continue to Soar!

 A rapid stride in the tech world over the years has increased cybercrimes immensely. According to a report, cybercriminal activities have clamped up 5 times in 4 years.  Since the usage of the internet is increasing with every passing day this internet connectivity has clamped up the volume and pace of cybercriminal activities. It is a challenging task to keep the pace up with new technologies, security trends, and threat intelligence. 

In order to protect information and other assets, it is necessary to take precautionary steps to avoid falling prey to cyber-attacks which are of many types. For instance, identity theft in order to gain sensitive information that is typically protected, credit card fraud, Ransomware which is demanding a payment to decrypt the locked computer or software, phishing in which fraudulent emails to steal sensitive data. Cybercrime in recent times has taken a curious turn with the character assassination of individuals and multi-crore frauds by lurking its way through popular social media platforms.

Cybercrimes- Calling out a set of Perils:

The use of cybersecurity can help prevent cybercrimes, data breaches, and identity theft and can aid in risk management. The protection of internet-connected systems, including hardware, software, and data from cyber-attacks is referred to as cybersecurity. Cybersecurity is a technique of protecting computers, networks, programs and data from unauthorized access or attacks that are aimed for exploitation. Protection of the usability, reliability, integrity, and safety of the network comes under network security. 

At the global level, the U.S. is taking giant strides forward in terms of implementing cybersecurity. In 2017, two cybercrime major incidents brought down government networks that sent an alarming signal. The need to implement reliable and impenetrable cybersecurity systems received an added push. 

Trends in CyberSecurity:

In the wake of the growing sophistication of cyber adversaries, the unprecedented volume of attacks and increasingly lethal IT security threats, coupled with stricter regulatory mandates, there is a pressing need to cope up with IT security more than ever in this new year. Here are some cybersecurity trends at a glance:

• Tracking Shadow IT Inventory

Software programs and applications which are not approved by enterprise IT but still running on user devices will be more liable to exploit shadow IT resources. As businesses increasingly embrace software as a service (SaaS), norms are becoming somewhat lenient as users enjoy greater freedoms with their own devices. But it should not be happening by putting cybersecurity at the stake. In digital transformation, businesses will need to take steps for security and constantly monitor user access rights and permissions for any possible regulations.

• User Awareness

Businesses need to keep their eyes peeled for any potential risk that can come from their own users. This may include potential harm arising from a sophisticated phishing scam or a user’s lack of awareness in fulfilling a mandate, resulting in data loss, identity theft, etc. Users are always the weakest link in the security chain of business. So it’s crucial to give user awareness training for cybersecurity. 

Just by the employment of next-gen security measures will not help in doing what’s necessary. There are a variety of incidents where users violate the security code of conduct. For example, logging into unsecured public networks, using work devices for personal transactions, downloading unapproved applications, etc. This needs to change.

• Targeted Phishing Attacks:

Unsuspected users continue to fall prey to phishing attacks which are the most pervasive IT security threats. A study conducted toward the end of 2018 suggests that online phishing attacks were up 297% over the last year and 2019 shall see this trend booming. Comprehensive security awareness programs should be adopted by businesses. This may include investing in phishing simulators that explain various emerging patterns. This should help users identify suspicious phishing emails, ensuring they do not end up handing over the keys to the castle.

• Operationalizing GDPR

Businesses should think of GDPR to increase IT security. As GDPR makes it necessary to appoint a dedicated data protection officer (DPO), operationalizing this compliance will require understanding several aspects of the law, such as how information privacy is protected and anchored in. It will help to determine if the up to date intelligence on the data processed is available. 

• Cloud security:

Cybercriminals take aim at the cloud. An increasing number of databases are being hosted in the cloud, which is where software and systems are designed specifically to be deployed over a network. As more and more businesses migrate to the cloud, a new role of cloud migration security specialist will be a key part of large IT teams. Cloud hygiene will only grow in importance over the next 12 months, particularly in avoiding devastating data breaches. Many management and identity verification tools can be used in this regard.

How Can We Fight Cyber Crimes?

Fighting cybercrimes is everyone’s business in one way or the other. Following are some ways to protect yourselves against cyber-attacks:

Use Internet Security System

Use software that can provide real-time protection against existing malware including ransomware and trojan viruses. It will help protect your data when you go online.

Use Strong Passwords

Do not just add easy to guess traditional passwords. Always use a strong password and keep on changing the passwords after some time. Do not repeat the same password for different sites. 

Keep Software Updated

Always keep an updated version of the software. Cybercriminals use known exploits frequently to gain access to your software. Keeping updated software will make it less likely that you’ll become a cybercriminal target.

Guide your Children

Teach children about the use of the internet. Make sure they are comfortable sharing with you if they experience any sort of online harassment, stalking, or cyberbullying.

Take Measure to Protect Identity Theft

You can save your identity from falling into the wrong hands. Know that identity theft can happen anywhere so always be very cautious. It occurs to obtain your personal data in a way that involves deception mostly for economic gain. You might be tricked into giving personal information over the internet or cybercriminal can steal your mail to access account information. So guard your personal information by using VPN over new Wi-Fi connection and keeping your travel plans off social media. Protect your children as identity thieves mostly target children. 

Keep up to Date on Data Breaches

Just over the last decade, there have been over  2,550 data breaches with millions of records being affected and the nature of the stolen information makes them considerably more serious than most. One should always stay up to date by such cases so that he can protect himself against such incidents. This will help you find out which type of data was targeted by criminals so that you can protect them. 

Manage Your Social Media Accounts

Keep your private information well secure and locked down on social media sites. Just a few data points will be enough for social engineer cybercriminals to get your personal information. It the less you share publicly the better it is. 

Always Use a VPN

Whenever you are using any WI-Fi network at a public place it is a good practice to use since most of the time you are using your smartphone you should prioritize VPNs that are optimized for iPhones or other devices.

Become a Victim? Know what to do

If you believe you have fallen prey to cybercrime, you need to inform local police and in some cases FBI even if the crime seems minor. Your report may assist the authorities in their investigation or may help to thwart criminals from taking advantage of people’s personal data in the future. If cybercriminals have stolen your identity following are some steps you can take:

• Report the crime to FTC
• Get your credit reports and place fraud alerts
• Contact financial institutes or companies where the fraud occurred. 

As technology is advancing, it is important for every organization to identify the real problem i.e. lack awareness related to cyber intelligence and crime could potentially inflict a heavy loss. One should be aware of how to protect himself against these crimes and where to report if he gets trapped in. In a nutshell, cybercriminals are becoming more discrete and to identify the breach in security needs to be identified and dealt with high urgency to avoid identity theft and data breaches.