Cybersecurity News. PHOTO: Cybercrime Magazine.

Cybercrime Bytes: Internet Job Scams, Customers Hack Loopholes, Cyber Investing Themes

Weekly news that keeps you on the cutting edge of cybersecurity

– The editors at Cybercrime Magazine

Sausalito, Calif. – Jul. 6, 2020

This week’s rundown is sponsored by Arcserve — your source for smarter, easier data and ransomware protection. 

— Unsuspecting candidates can be lured into a false sense of security when talking to (so-called) prospective employers. Cybercriminals masquerading as recruiters and HR executives will sometimes ask you to pay a fee, for instance, to apply for federal career opportunities, according to the FTC. Cybercrime Magazine

— Vectors of cyber fraud and abuse are expanding and growing. Account takeover attacks are growing increasingly sophisticated. Fraud and abuse pain points are now no longer only limited to professional online criminals. Even merchants’ customers are getting in on the act through policy abuse, wherein they exploit loopholes in coupon programs, welcome benefits, referral bonuses, and loyalty rewards for their own benefit. Payments Journal

— We are living in an era largely dominated by AI applications and technological advancements including robotics and cybersecurity. Cybersecurity Ventures expects the worldwide expenditure on cybersecurity to surpass $1 trillion cumulatively from 2017 through 2021. Accordingly, investors are looking to a variety of specialty focused ETFs. Yahoo! Finance

— The recently published Cisco 2020 CISO Benchmark Report examines insights on best practice, trends on security technologies, and insights on the impact of breaches. One of the trends identified is how organizations are consolidating the vendors used in this regard. 13 percent use more than 20 vendors. BIZTECH AFRICA

— Cybersecurity Ventures predicts that a business will fall victim to a ransomware attack every 11 seconds, and the estimated cost to businesses globally will be around $20 billion by 2021. The direct costs can be attributed to the ransom demands — if the victim chooses to pay the ransom — while the indirect costs are associated with the downtime, data recovery, lost revenue, improvements to cyber defenses, and reputational damage to the company. Thales

Cybercrime Radio: It’s Vacation Time — Don’t Travel With Cash

Beware of ATMs, use contactless payment options

— The 2020 Directory Of U.S. State And Local Cybercrime Law Enforcement is a public resource that explains how to report a cyber attack, data breach, or hack to the authorities. State and local cybercrime law enforcement contacts are provided for every state in the country. Cybercrime Magazine

When acquiring a company, standard practice should be for a CISO to ask about any insider threats and disgruntled employees, says Theresa Payton, former White House CIO. Mergers and acquisitions bring cyber threats that should be planned for ahead of a transaction. Cybercrime Radio

Clario announces that its hotly anticipated personal digital security and privacy application is available for immediate download on MacOS, iOS and Android devices. Users have unique 24/7 access to 600+ on-demand tech experts that can help users with issues such as COVID cyber scams, removing malicious software, and provide advice for online account breaches or ransomware attacks. PR Newswire

— There may be as many as 3.5 million unfilled cybersecurity positions worldwide by 2021, according to Cybersecurity Ventures. A growing number of podcasts are airing to help reach more people and reduce the cybersecurity talent shortage. Infosec Institute

—  CISO surveys from the past few years, as well as analyst research, indicate a growing trend toward vendor consolidation. A platform serves to simplify security while consolidating an organization’s vendor landscape, and IDC predicts that 30 percent of security budgets by 2020 will be spent on vendors who offer integrated platforms. Cisco

Cybercrime TV: Detecting Mobile Phone Contraband In Prisons

Scott Schober on how cellphones are smuggled into correctional facilities

— The rapid growth of internet users, the world’s data explosion, and ransomware attacks on businesses and individuals, all taken together, have the potential to erode consumer trust in underprotected brands across all industries. An Arcserve study found that 25 percent of consumers will abandon a product or service in favor of a competitor after a single ransomware-related service disruption, failed transaction, or instance of inaccessible information. Cybercrime Magazine

Ransomware first appeared in 1989, called PcCyborg, and it was very simple and easily circumvented. There was very little choice in endpoint security software, and no one was thinking in terms of data being held at risk. Since then ransomware has continued to evolve with new methods of evasion not seen before. AT&T Business

— A report from Cybersecurity Ventures predicts that there will be 6 billion internet users by 2022, and more than 7.5 billion internet users by 2030. “Like street crime, which historically grew in relation to population growth, we are witnessing a similar evolution of cybercrime. It’s not just about more sophisticated weaponry; it’s as much about the growing number of human and digital targets,” the report noted. The Impact

— Ransomware has become one of the largest business risks and serves as the most menacing threat to IT organizations. In response, Arcserve provides a ransomware readiness assessment that can help organizations quickly identify gaps in their IT and chart a course for a ransomware-free future. Arcserve

— The 2020 CISO 500 Data File from Cybersecurity Ventures was released on Jun. 15, 2020. This special compilation contains the CISO names at the 500 largest companies in the United States. Cybercrime Magazine

More next week.

Cybercrime Bytes Archives

– From the editors at Cybercrime Magazine

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