Cybercrime continues to ramp up as more of the world gets online, and the figures are startling. According to a brand new CNBC report, cybercrime may have cost $60A0bn globally in 2018, with authorities describing the crime as a ‘pandemic’. 2019 has brought new and sophisticated threats with it, ranging from the impact of cryptocurrency to threats arising from previously trusted services.
The Danger of Cryptocurrency
Cryptocurrency is exciting and lucrative, but there are risks involved. According to MIT, over $1bn in coins have been stolen already and used for illicit means. Fear not, as for the average user, protecting yourself is straightforward and requires a few simple steps. When you first start out with trading, invest in a decent VPN and a good quality wallet for your coins. This will give you ample protection to ensure that the profits from your trading are secured and you can continue to try out the market in confidence.
Protecting Against Form-Jacking
Form-jacking is a relatively new type of cybercrime – at least in the public eye. It involves, according to UK tech news site Techround, inserting malicious code into third-party apps which will then skim input forms for valuable data. According to Symantec, 4,800 such attacks happen – daily. To protect against this threat, VPN will again be useful, to reroute information. However, it’s more likely that beefed up antivirus software on the device in question will be more important. This, in addition to the controls already offered by Android and iOS, will offer ample protection against malicious, devious apps.
The Weakness of IoT
Increasing levels of homes and businesses are becoming ‘smart’ in that they utilize the Internet of Things (IoT) technology to automate everyday life. According to risk experts Raconteur, this may be 2019s biggest challenge of all. According to their report, $5.2tn is at risk of IoT crime. The answer here is more powerful work and home cybersecurity systems. Quite often, inbuilt software and firmware with devices are insufficient. Home and business owners should seek to supercharge their cybersecurity efforts through VPNs, improved firmware, and cybersecurity processes that promote hygiene on the web.
Cybercrime is set to take center stage with countless more threats and proceeds derived from it. Tackling this should be the first priority of digitally connected people everywhere. The technology is there to protect against it but needs to be picked up and used – sooner, rather than later.