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Ways Cyber-criminals Monetize Cyber Attacks

The past two years has created the perfect storm for cyber-crimes. The global pandemic, which caused the massive shift to remote work, and the reliance on collaboration technology, provided the ideal environment for cyber-criminals to exploit.

Now more than ever, organizations need to be mindful of their cloud-hosted data. Millions of users and teams are busy creating vital work products, documents, chats, and collaborations that live primarily in apps such as Microsoft Teams and the rest of the Microsoft 365 suite.

Unfortunately, email is also the most common entry point for cyberattacks – sneaking malware and exploits into your network and extracting credentials and sensitive data out.

We have all heard of the term "ransomware" these days, and if you have not, HBO's John Oliver recently did a piece about it. As its name suggests, ransomware is a form of malware that holds you ransom for your data, traditionally through encrypting and denying you access to your files. But also more recently threatening to publish certain sensitive information.

We have seen ransomware making more and more headlines in recent years due to how easy it is for them to get paid, which is usually the ultimate goal of cyber-criminals. But ransomware is not the only method attackers use. Let's look at some other ways cyber-criminals use to monetize their efforts.

1. Stealing Login Credentials

Having your login credentials stolen may be a bigger problem than you might think. While platforms such as ibanking, PayPal, email are certainly more sensitive than others, studies have shown that over 65% of users use the same password across multiple platforms. A single password breach could set off a massive chain reaction.

2. Email Impersonations

You may have received emails from your external business partners or even your co-workers from a lookalike domain. Not all email-based attacks use malware or malicious URL. A simple email from your CEO or CFO requesting a bank wire may sometimes be a lot simpler and effective to unsuspecting targets.

3. Free Tools

If something is free, then you are the product. Criminals set up a store offering free tools or great bargains on products, often to collect personal or business information and selling it to advertisers, marketing companies, or even other cyber-criminals to be used against you in future. Or even look to steal your payment information.

As long as there is money to be made, criminals will continue to find new ways to pick our pockets. This constant battle may seem daunting to an SMB, which is why Asiacloud’s Managed Services can help and support you. Contact us for a free consultation today.

Technology Photo created by Master1305 via Freepik


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