Subsequent with the increasing dependence on internet technology brought by online transactions, online attacks continue to rise, with cybercriminals waiting for victims to prey on. This report will provide you the latest news and trends on cybersecurity for September 2020, so you know what to watch out for.
Asia-Pacific Cybersecurity Attack Rates
In Asia-Pacific, hackers have carried out cybersecurity attacks more effectively than North America, Europe, the Middle East, and Africa. The problem is especially elevated as so many people are now working from home, according to the biannual report from LexisNexis Risk Solutions. The attack rates are at 3 percent, in comparison to 1.4 percent globally.
Bot activities are also on the rise as some of the prime creators of automated bot attacks originate within APAC, particularly from Japan (ranking 5th by volume globally), India (7th), and Australia (8th). These automated bots can “can execute commands, reply to messages, or perform routine tasks, such as online searches, either automatically or with minimal human intervention.”
Due to the rise in cybersecurity attacks, organizations APAC organizations are trying to find a balance between digitalization and data protection. While it is convenient for people to go digital due to the handiness it provides, the confidential data is stored in the cloud means that companies must stay resilient by adopting effective cybersecurity defense strategies in order to eliminate the risks. This is of special significance considering that almost all of the respondents (99%) claim “at least some of their sensitive data in the cloud is not encrypted.”
Business to Consumer Attacks
Due to the high volume of online payments, cybercriminals have primarily targeted money-making opportunities such as e-commerce and banking. Phishing attacks pose as reputable organizations to steal confidential information such as login details and financial data. Such an example is seen in the attack targeted towards Lloyds Bank customers, with around 100 customers receiving email and text messages telling them that their account has been suspended. This will then redirect to fraudulent sites that request the customer’s log-in details, and eventually using it for financial crimes.
Attacks on Organizations
With remote work systems in place, organizations from all over the globe have been more exposed to security threats on the internet. Malwarebytes, a cybersecurity firm, has revealed that 20% of organizations that experienced phishing is a result of a remote worker. Cyberattacks towards organization not only exposes confidential information but also results in financial and reputational losses.
These attacks prove that cybercriminals prey on everyone - individuals, governments, and all other organizations. In the time of increased cybercrime motivation, it is necessary for you and your organization to be protected. This can be done through investing in strong cyberdefense systems such as encryption, antiviruses, proper employee training, and being aware of the latest frauds and scams in the technological sphere.
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