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Fascinating Facts About the World of Cyber Security

Cyber Security

Throughout the history of mankind, many battles have been ones of escalation. So, it is with cyber crime.  New and better ways are being developed to keep computer systems safe, while at the same time, more devious and effective ways of bypassing security are appearing.

The nomenclature of cyber security can be quite evocative. Much like cowboys in the past, modern hackers will wear black hats (those breaking into your system to steal data or inflict harm) and white hats (the local sheriff keeping you and your assets safe).

While the image of cyber cowboys fighting it out over your computer system may seem amusing, cyber security it a serious matter.  Here are some other interesting facts about the world of cyber security.

  • Cyber crime is on the rise

Although white hat hackers are doing their best to improve the defenses of the systems under their protection, cyber attacks are rapidly growing more common, increasing year after year and requiring greater awareness of the dangers they pose.

  • Phishing is on the Rise. Don’t Bite

Phishing is a term given to the act of sending fraudulent emails which seem to be from a legitimate source. Should a recipient of one of these emails click on a link or reveal their password, the phishing attempt is successful.

In 2017, 91% of cyber attacks began with phishing email. In 2018, global info security respondents reported that they had experienced phishing attacks, representing an increase of 76% over the previous year.

The best defense against phishing is to avoid clicking unknown links or divulging sensitive information via email.

  • Ransomware is Being Replaced by Cryptogram

Ransomware is pretty much what the name implies, taking your data hostage until such time that you pay the ransom, allowing the black hat hackers to make their money directly from the victims, rather than trying to sell the information on the black market.

Ransomware itself is in decline, with hackers changing their tactics somewhat. Rather than taking data hostage and demanding bitcoin payment, hackers have begun infecting systems with bitcoin-mining software without being noticed. As of the start of 2018, cryptogramming was associated with 90% of all remote code execution attacks.

  • The Main Targets of Cyber Attacks are Small Businesses 

According to Verizon’s 2018 Data Breach Investigations Report, 58% of victims were categorized as small businesses, more than healthcare organizations, public sector entities, and accommodations and food services combined.

  • Mortgage Companies are Prime Targets

 Why do mortgage companies present such a tempting target? Due to the huge amount of sensitive information obtained from customers. Mortgage companies possess more non-public information than any other financial organization.

  • The High Cost of Cyber Crime

 By 2021, cyber crime damages are expected to cost the world $6 trillion annually. This is an increase of $3 trillion annually since 2017 and represents the greatest transfer of economic wealth ever seen.

  • The Need for Greater Precautions

 Sadly, as frustrating as it may be to witness the amount of cyber crime taking place, it is worse knowing that 93% of breaches could have been avoided. How?

Simple steps such as regularly updating software or making use of modern cloud-based solutions can be taken by any organization and would prevent the vast majority of breaches. By being proactive with your security measures, you will become less attractive to hackers.

New standards in security involve modernizing your IT, including updating password policies and introducing Multi Factor Identification. Advanced, cloud-based email gateways can protect against email threats.

As always, being informed is always the best bet when it comes to cyber security. In this war of escalation, be sure to continually be making the first move, making yourself a more secure, less attractive target.