Cybercrime in the first quarter of 2020 – it’s not a question of it, but when…




The average time to identify a data breach is 279 days

More than two-thirds of all DDoS attacks originate from China

Cybercrime will cost the world $6 trillion a year in 2021

Year-over-year ransomware downtime costs are up 200%

With the first quarter of 2020 nearing its end, we take a look at the cybercrime events that made headlines and that are currently impacting businesses worldwide. We consider existing threats as well as new kids on the block:

1. Ransomware attacks

2. Data breaches

3. Malware

4. Phishing

5. Denial of service

With data fast becoming the most valuable asset, cybercrime and everything it encompasses remains a growing concern for information security professionals and businesses alike.

1. Ransomware attacks 

Ransomware attacks are on the rise and, according to Cybersecurity Ventures, will cost organizations globally in the region of $20 billion by 2021. While ransomware attacks against consumer groups have decreased, attacks against organisations such as municipalities, schools as well as SMBs have increased.

2. Data breaches  

Some of the notable data breaches of 2020 so far include Microsoft leaving 280 million customer records unprotected including email and IP addresses; Estee Lauder with 440 million records as a result of an unsecured database; and Walgreens, the second-largest pharmacy chain in the US, exposing personal messages sent via their mobile app including prescription details, store numbers and shipping addresses of customers.

3. Malware  

TrickBot trojan, one of the most advanced malware delivery mechanisms currently in use, set it sights on Windows. It currently leverages a new Windows 10 WSReset UAC bypass to deliver a broad spectrum of malicious code, using different methods. Morphisec Labs found that the delivery method being used has been upgraded and Windows 10 users are now firmly in the crosshairs.

4. Phishing 

With the recent COVID-19 having the world in edge yet another threat has emerged – phishers are exploiting the outbreak to steal information. These cybercriminals pose as WHO representatives asking for login information, directing people to a fake WHO website and sending unsolicited email attachments.

5. Denial of service 

Online crime markets, also known as the dark web, has long benefitted from DDoS attacks under the guise of the anonymous TOR browser. In a surprising turn of events the chickens have come home to roost – three of the biggest dark web criminal marketplaces, Dream Market, Empire Market and Nightmare Street, fell victim to DDoS attacks with the attackers using an exploit in the TOR network itself.

No time like the present to talk to us and get your data protected. We have successfully assisted numerous organizations to recover from ransomware attacks and other forms of cybercrime. Your data is always safe with Stage2Data! Call us today, we’re happy to walk you through what we can offer.

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About the Author
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Robert Kellerman

Enjoy innovation, tech gadgets, good design, music and outdoors. Cant drink average coffee, thus roasts his own.