Cybercrime has become more common in recent years, and hackers are expected to commit more crimes now that the digital world is becoming more powerful than ever. Cybercriminals may be masterminds when it comes to the ins and outs of the internet, but you can outsmart them by being informed.
At FraudWatch International, we compiled five facts that you need to know to understand how their world works. By equipping yourself with this knowledge, you can prepare and better protect yourself.
1. Everything is about money for them
Hackers do not do this just for fun. They do it for the money. Some of them can steal your important information, use it to take out loans, extract money from your bank accounts, apply for a credit card, ask for money from your contacts, or make purchases under your name. Some may also hold your data and sell it to the highest bidder on the dark web. The more profiles they steal, the more money they get.
2. They are hungry for data
Although hackers can attack anyone, whether it be an individual, a small business, or a large corporation, they mostly target data-rich networks. They often attack cloud-based services or those with network databases. They can corrupt these systems and use malware to gather data and attack other users. They usually go for attacks that will give them quick access to as much data as possible.
3. They love credit cards
Another thing they love stealing is credit card information—may it be through ATMs or online payments. They create malware online to steal the information you type on your computer or smartphone. This malware can either take screenshots as you use your device or record your keystrokes as you input your details. The data gathered is immediately transported to the hackers for usage or selling.
4. Their attacks can cost a business a considerable sum of money
In the US alone, the average data breach can cost a company $3.86 million. This amount may vary depending on many factors, such as the industry and location the business is in, the type of attack carried out, the systems affected, and the types of data stolen.
Malware and web-based service attacks are considered the most expensive. These are followed closely by ransomware.
Recovery of stolen information can account for more than half of the resulting expenses. At the same time, around 20 percent will go to containment, and 10 percent of the budget goes to the investigation.
If you are not ready for this expense, make sure you invest in quality security.
5. Hackers do not mostly operate on the internet
According to an article written by a digital expert named David Kushner, hackers do not operate on the internet itself. They have a hidden version of the network called the Darknet, which no ordinary individual can access. They also use a special browser to access the Darknet without leaving their digital footprints.
Another truth you should know is that businesses can prepare well against these types of attacks. A thorough briefing for all members about the possible attacks and the most susceptible targets can make a huge difference. Being alert all the time and keeping an eye out for suspicious activities can save your business in many ways.
If you are looking for brand protection experts to provide your business with digital risk intelligence or threat intelligence analysis, we can help. FraudWatch International is a global industry leader when it comes to cybersecurity. We have various services that can cater to your different protection needs. Contact us to learn more about how we can help your business.