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In its Q2 security round up, Trend Micro’s report “Turning the Tables on Cybercrime: Responding to Evolving Cybercrime Tactics”, highlights severity of these attacks intensified against financial and banking institutions as well as retail outlets.
Total attacks have exposed more than 10 million personal records as of July 2014 and strongly indicate the need for organizations to adopt a more strategic approach to safeguarding digital information.
These attacks affect consumer’s personal information included theft of data such as customer names, passwords, email addresses, home addresses, phone numbers, and dates of birth. These types of personal privacy breaches have affected organization’s sales and earnings while leaving customers unable to access accounts and dealing with service disruption.
As of July 15, 2014, more than 400 data breach incidents have been reported, creating the need for organizations to identify and understand their core data in order to protect and build an effective defense strategy to keep them secure.
“India posed for cybercriminal expansion with an average of 2.5 million malware detection in a given month. Furthermore, 33% more malicious apps were downloaded, Network traffic from affected computers continued to rise and Government-issued site certificates for compromised Google domains. These and many such incidents show that cybercriminals will always adapt to new trends and situations whether in the use of new malware or targeted attacks techniques to continue their attacks,” Myla V. Pilao, Director, TrendLabs.
The report says:
- Critical vulnerabilities created havoc among information security professionals and the public: High-risk vulnerabilities affected various components of Internet browsing and Web services, including server-side libraries, OSs, mobile apps and browsers.
- Escalation in the severity & volume of attacks: The severity of attacks against organizations highlighted the importance of incident response planning and organization-wide security awareness.
- Cybercriminals counter online banking and mobile platform developments: Deployment of mobile ransomware and two-factor authentication-breaking malware has emerged in response to technological developments in the online banking and mobile platforms.
- Digital Life and Internet of Everything (IOE) improved way of life with emerging vulnerabilities: The 2014 FIFA World Cup held in Brazil was one of the most popular sporting events in recent history. As such, users faced various threats related to the event—one of the most widely used social engineering hooks this quarter.
- Global law enforcement partnerships lead to arrests: By sharing research findings with law enforcement agencies, financial loss prevention from cybercrime has proven effective.
