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Business Computing: The global pandemic has seen a huge rise in people working from home, shopping online, and generally being more digitally connected than ever. There are plenty of good things that have come from this but there is a lot of bad as well. One of the biggest issues is that cyberattacks have skyrocketed during this period, according to MonsterCloud. Cybercriminals have taken this opportunity to up their attacks, both in frequency and scope. Here is what you need to know about the rise in cyberattacks during the COVID-19 pandemic of 2020.
DarkReading: The key commodities prices of oil, grains, sugar, and cotton don't just affect business sectors as they rise and fall with supply and demand: They also drive global trading activity and form the foundation of the world economy. The same applies to cybercrime.
Cyber Defense Magazine: Data is an organization’s most valuable asset, yet data loss is one of the biggest repercussions of a cyber attack. In 2019, more than 15 billion records were exposed in data breaches, amounting to more than $3.5 billion lost to cybercrime.
Help Net Security: An INTERPOL assessment of the impact of COVID-19 on cybercrime has shown a significant target shift from individuals and small businesses to major corporations, governments and critical infrastructure.
Finance Magnates: When it comes to cryptocurrency-related crime, every year seems to have its own particular ‘flavor’. 2018 was the year of massive exchange hacks (remember Coincheck?); 2019 was seasoned with an air of massive ponzi schemes (PlusToken, OneCoin) with a few scandals thrown in the mix (QuadrigaCX, anyone?)
Financial News: Cybersecurity companies are warning that they’ve seen an exponential rise in attempted “phishing”, banking-email compromises, and illegal cryptocurrency mining. And it’s hedge funds that may be most vulnerable.
Businesswire: The COVID-19 pandemic has presented a once-in-a-lifetime opportunity for hackers and online scammers, and cybersecurity professionals saw a 63 percent increase in cyber-attacks related to the pandemic, according to a survey released by the Information Systems Security Association (ISSA) and independent industry analyst firm Enterprise Strategy Group (ESG). As the global impact of COVID-19 manifested itself in the middle of March, ESG and ISSA conducted an in-depth survey in April 2020 as a point in time assessment of challenges posed by the pandemic.
Kaspersky: Incident analysis by Kaspersky of two cases in Europe and Asia has uncovered that VHD ransomware – first discussed in public in spring 2020 – is owned and operated by Lazarus, a prominent APT group. The move by Lazarus to create and distribute ransomware signifies a change of strategy and indicates a willingness to engage in big game hunting in pursuit of financial gain, which is highly unusual among state-sponsored APT groups.
Tech Crunch: In the heels Hippo’s funding round and our exploration of how the private markets appear to be more conservative than public investors at the moment, we’re asking a new question: are a bunch of insurtech startups undervalued?
McKinsey: Few corporate functions shifted priorities so much and so quickly when the COVID-19 crisis struck as corporate cybersecurity operations and the technology providers that support them did. As legions of employees suddenly found themselves in a work-from-home model, chief information-security officers (CISOs) adjusted, pivoting from working on routine tasks and toward long-term goals to establishing secure connections for newly minted remote workforces.
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