The State of Cyber Crime in 2019 – Are You Ready?

The State of Cyber Crime in 2019

Cybercrime is becoming a major threat to businesses, organizations, and municipalities. Are you prepared to defend your company during a cyber attack?  

Landmark Cybercrime in 2019 (So Far)

How aware are you about the state of cybercrime in 2019? You may hear about a major data breach in the news or online, but are you up-to-date on how cybercrime can affect you or your business? The conversation about cybercrime has become a kind of white noise, because there are so many scams, hacks and data breaches, it’s hard to stay engaged. But, there are some startling statistics that may surprise you such as the fact that the global cybercrime industry is expected to cause up to $6 trillion in damages in the next few years.

How?

Have you considered the rate at which attacks are occurring?

iPhone Vulnerabilities Exposed

In August 2019, Google published research showing that an iPhone-based cyber-attack has been going on for at least the last two years. The largest iPhone attack in history, this long-term attack has been infecting iOS users with malware that steals their private data including:

• Passwords
• Encrypted messages
• Locations
• Contacts

Also during August, another Google Project researcher published an article about how iPhone software can be penetrated, giving hackers remote access, even though none of it operates as conventional “server side” code.

Ransomware on the Rise

In May 2019, the city of Baltimore was attacked with ransomware that caused their servers to become inaccessible. Baltimore refused to pay the ransom which kept their IT network offline for weeks. During this time, the city tried to”rebuild certain systems,” according to Mayor Jack Young.

Baltimore now joins the growing number of municipalities attacked by ransomware this year (2019), all of which, after the attack, invested considerable resources in tracking down the source of the incident. Twenty two different organizations in Texas, several of them who are government agencies, were recently infected with ransomware in August.

Cyber Security Expertise in High Demand

According to Gartner, “The shortage of skilled security professionals has been a perennial problem that consistently results in failed security technology deployments. The number of unfilled cybersecurity roles is expected to grow from 1 million in 2018 to 1.5 million by the end of 2020.”

Recent polling performed on behalf of Tripwire found troubling evidence.

• 93 percent of polled IT security professionals say the skills required to become a great security professional have changed over the past few years, making it harder to find properly skilled cybersecurity hires.
• 85 percent of polled IT security professionals report that their security teams are already understaffed and only one percent believe they can manage all their organization’s cybersecurity needs when facing a shortage of skilled workers.
• 96 percent of polled IT security professionals say they are either currently facing difficulty staffing security teams due to the skills gap or can see it coming.

What Should You Be Watching Out For?

Phishing Targeting Your Business

The average phishing attack costs businesses $1.6 million. Can you afford to pay that price because one of your staff can’t recognize a phishing email?

CEO Fraud

CEO Fraud has rapidly become one of the most popular ways for cybercriminals to make money — not too long ago, a Canadian University paid out more than $11 million due to CEO fraud.

Sale of Your Data Online

Did you know that your social security number could be for sale for as much as $45 on the dark web?

How Can You Protect Yourself?

The first step is to pay attention. Most businesses take up to six months to discover that they’ve experienced a data breach. Next, follow these three key tips to increase your cybersecurity.

• Enlist help from staff — Train your staff to ask themselves these questions before opening every email:
  1. Do I know the sender of this email?
  2. Does it make sense that it was sent to me?
  3. Can I verify that the attached link or PDF is safe?
  4. Does the email threaten to close my accounts or cancel my cards if I don’t respond with information?
  5. Is this email really from someone I trust or does it just look like someone I trust? How can I verify?
  6. Does anything seem off about this email, its contents, or sender?
• Back up your data — If you have a data backup solution, then it doesn’t matter if your data has been encrypted by ransomware. You can replace encrypted data, simple as that.
  1. Invest in a comprehensive backup data recovery system.
  2. Backup data on a regular basis, at minimum daily.
  3. Inspect backups to verify that they maintain integrity.
  4. Secure backups independently from networks and computers they back up.
• Work with an expert.

What Do Cyber Security Professionals Do?

Cybersecurity professionals like Philantech3, manage your cybersecurity. Instead of an internal team keeping your tech and data secure, you hire Philantech3 who has specialized experience and skills to manage your cybersecurity. Philantech3’s job includes performing regular vulnerability testing for your industry, help you plan and achieve a secure environment, and provide ongoing service and support for security-related concerns. Keep hackers out of your critical systems with Philantech’s high-tech anti-malware programs including virtual private network (VPN), email spam protection, state-of-the-art firewalls, intrusion detection systems (IDS), and managed WiFi settings.

Wil Buchanan