The increase in cyberattacks is sparking a major discussion around cybercrime — and cybersecurity — from local, national, and global. Cybercrime is a global problem for individuals and organizations.
In Cybercrime the “winner” is the fraudsters who profit, and the “loser” is in the form of organizations and consumers impacted by financial loss mostly. It is important to understand the global cybercrime landscape and the fastest-growing attack factors.
How Effective is Security Today?
In terms of effectiveness, it seems the security industry has a long way to go. An increasing rate of breaches, theft of personal and financial data, and frauds not only results in financial but reputational costs also.
Businesses need to understand what their cyber workforce looks like, where their strengths and weaknesses lie, and how to skill them up to fill in the gaps in their defenses.
Artificial intelligence (AI) and Machine learning are sophisticated tools in cybersecurity to fight against cybercrime, but advances in the cybercriminal world are not far behind.
Threat Industry Keeps Innovating and Lowering Barriers
Now hackers list is long and sophisticated. Such as AI-generated fake images and videos—to launch phishing campaigns. Crypto-jacking is popular to break in code to access and take digital currencies and target public cloud providers to access customers’ data. And moreover, hackers are running threat-as-a-service making threat campaigns and distribution a point-and-click affair, resulting in increasing in many folds of cyber criminals.
Not only are there more hackers, but criminal organizations across the globe are joining forces, mostly working together via the dark web quite often geopolitically, making the threat impact stronger. Hackers can access a computer or network forcing organizations to deliver malicious outcomes.
The war between Cybersecurity and Cybercrime is already here –
It will be fought by organizations using cyber methodologies, practices, and tools like artificial intelligence. And the Government by laying a framework and running a campaign at the country level. Here, I would like to highlight what steps are taken by UK NCSC to combat current coronavirus cybercrime and how innovation is helping to fight at the corporate level.
To reduce this threat impact at a country level UK Cyber Experts have launched measures to protect the UK from cyberattacks by urging the public to raise flags.
Steps were taken by UK NCSC (National Cyber Security Center)
The UK NCSC declares war against coronavirus cybercrime. NCS launched the campaign as a “Suspicious Email Reporting Service” and a “Cyber Aware Campaign” to protect against phishing, cyber attacks, and scams. “Suspicious Email Reporting Services” have already removed 2,000 online scams, including;
- 471 fake online shops selling coronavirus-related items;
- 200 phishing sites seeking personal information such as password & credit card details;
- 555 malware distribution sites;
- 832 advance-free frauds where a large sum of money is promised in return for a set-up payment.
This sets an example of cyber security is more important than ever.
Innovation in Cybercrime or Cybersecurity will Continue –
The technological capabilities on either side of cyber warfare are moving up with major advances in artificial intelligence. AI bots have the ability to deliver cyberattacks with an intensity that would be very difficult for today’s human cybersecurity experts to contain. AI tools can scan data and machine learning algorithms look for patterns to understand how Cyberattacks begin and guide human decision-makers to respond.
To stay ahead, Only AI-powered machines of matching expertise will be able to defend our systems from these attacks. And organizations need a combination of AI, communications with Government agencies, inventive thinking about cybersecurity methodologies and practices, and cyber awareness training on Human Error to counter a threat industry that is innovating both technical and business models at a rapid pace.
Are You Doing Enough to Stay Ahead of Cybercriminals?
Bitsys Technologies can start helping by conducting 1 free remote working IT review to assess the security posture of your organization. Bitsys Technologies is a leading MSP, that uses well-tried and tested, leading-edge technologies to stay ahead of cybersecurity threats. Bitsys Technologies identifies vulnerabilities and secures your business environment. As a well-established MSP, we can set up security on your infrastructure or can oversee your organization’s security systems, ensure regulatory compliance, and 24×7 support or be flexible in hours to monitor, manage, report, and mitigate the risks. Time to catch up!
The only way to protect what you’ve worked hard to build is to be vigilant when it comes to cybersecurity. If you’d like to know more about how your business can benefit from managed services, just give us a call, we are here to help.
Cybercrime can be committed against an individual or a group; it can also be committed against government and private organizations.