By the end of 2021 Cybercrime is estimated to be responsible for the loss of $6 trillion each year. That is estimated to increase to $10.5 annually.*
So how does this happen?
Fraudsters use a whole host of tools to extract money from unsuspecting victims. These include:
Phishing scams: This is where users are tricked into providing personal details under the guide of needing to update details online
Spoof emails: Fraudsters impersonate a company or business to send out emails that look like they’re from a legitimate source and request money.
Malware: This is software that is unknowingly installed on your computer when hit with a virus or by clicking a fake link. This software can scan your compute and can steal stored data, such as credit card numbers and other financial data.
Password attacks: Doing exactly what you’d expect it to, this kind of attack gets hold your stored passwords allowing attackers to access your personal accounts.
Data theft: From the physical loss of machines or USB sticks to the theft of data but stealing passwords of remote accessing your machine to access your financial data or even using your sensitive data to extort money from you.
The Increase in Threats
All of these scams have been amplified by the pandemic, when COVID-19 hit the world was required to change the way it worked overnight and fraudsters knew this – cyber-crime increased by 600% as they took advantage of decreased security and a change on working practices.
How do you stay protected?
Cyber security products can protect against all kinds of attacks.
It’s important to always have a front line of security in anti-virus protection but should you be attacked there is software that works to identify and isolate malicious software you may have unknowingly installed on your computer.
You can also install programmes that scan all links in emails before you click on them and analyse emails to ensure they’re from approved sources. Should you lose a machine or USB there are options to remote wipe machines, and rest easy if you’ve got an encrypted USB – you just need to be prepared.
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Between now and the end of January you can get free software security licenses with any managed service agreement.