A Drastic Increase In Cyber Attacks, Hackers Are Everywhere!

The coronavirus has been proved as a threat to technology and online businesses. It has affected many enterprises— many of which have also reached the shutdown point. Start-ups and medium scale businesses have found it hard to survive amidst COVID-19.

As people were working from home, i.e., using personal networks and systems, cybercriminals were ready with their tools. The cybers attacks have tremendously increased during the spread of coronavirus. The evil hackers found great opportunities in companies' constraints since the advent of the pandemic.

Ransomware attacks:

Since the rise of COVID, Ransomware attacks have tremendously increased (up to 47%). As per data, the attacks in the first quarter of 2020 are equal to attacks noticed last year.

Fund transfer and email frauds:

The fund transfer frauds have gradually increased during the epidemic. As per reports, a rise of around 35% of fund transfer frauds has been reported. Similarly, around 67% of email attacks have been observed.

When investigated in detail, some major causes were jolted out, such as:

1. The business models going online and the increase of remote accesses were the sources of these attacks.
2. Companies using Outlook for emails have been exploited thrice more than people using Google mail (Gmail).
3. Email infiltration, domain spoofing and exploit of invoices were the major attack strategies used by the phishers.

Consequently, the hackers have targeted companies of all groups; small, medium, and even large organizations. Also, it is found that large companies have reported claims 5 times more than the claims observed by the SMEs. The hackers have fraudulent thousands and millions from these helpless organizations.

Keep following ISOEH (www.isoeh.com) to know about the cyber attacks activities around the world.

Stay safe from these cybercriminals!