Fighting a COVID-19 Surge in Cybercrime
Opinion Analysis by Rhea Haddad, Staff Writer
October 10th, 2020
Due to the coronavirus pandemic, millions of people around the world found comfort within the safe boundaries of their homes; relying now more than ever on computer systems, mobile devices, and the internet to work, communicate, share information, and alleviate the impact of social distancing.
In terms of work, many companies adopted applications like Skype and Zoom to allow employees to work remotely, while numerous e-learning programs have been developed to allow students at different levels to continue their studies from home during the pandemic. Additionally, social distancing measures led to spikes in demand for e-commerce platforms and online delivery services, accompanied by a rise in digital transactions.
However, although the rise of digital technology has played a significant role in reducing the risk of contracting the coronavirus, it has also increased cybersecurity problems. In simple terms, the more people use online platforms, the more the pressure on current cybersecurity methods, and the greater the number of potential attacks.
According to the Internet Crime Complaint Center at America’s Federal Bureau of Investigation (FBI), by June, daily digital crime had risen by 75% since the start of the stay-at-home restrictions and the number of complaints received so far in 2020 has already exceeded the total number of 2019. Cybercrime acts have completely altered since the beginning of the plague. With many firms taking their work online, hackers seized an incredible chance to bypass the corporate firewall to gain access to coveted data to be sold on the black market. This ranges from business credentials, employee records, intellectual property, bank accounts, tax IDs, insurance policies…
While cybercriminals usually make profit out of crises, hackers who use ransomware tactics that are +a type of malicious software designed to block access to a computer system until a sum of money is paid , are getting more aggressive in their tactics if a victim refuses to pay. By means of “business shaming”, they threaten to publicly expose or auction a victim’s data.
Last June, as thousands of protestors took over the streets in anger over George Floyd’s ‘murder’ and death in Minneapolis, social media accounts claiming to be operated by the hacktivist group Anonymous, declared to have taken down the Minnesota police website. Traditionally, hacktivists gain access to illegal electronic data for social and political purposes.
If over the past few months, the risk of job scams has swollen. Cybercriminals are doing the reverse, targeting human resource departments with fake job applications in attempt to get a way into the company. This represents a major threat for businesses, as it is often very difficult for HR officers to distinguish between real and fake job applications.
Cybercriminals who manage to steal a company’s employer identification number (EIN), insurance information, credit card number, vendor number or business email accounts can impersonate the company to defraud it by claiming tax refunds, making fake insurance claims, transferring money…
In times of crises and particularly during this pandemic, and when a significant large number of people under lockdown and movement restrictions are now working and studying remotely, cybersecurity is extremely important as many are more vulnerable to cyber-attacks. Companies and policy makers are trying to improve their defense. However, in emerging markets, these institutions may lack the skills and capital required to develop appropriate safeguards.
Therefore, some in the industry have advocated for the establishment of regional cybersecurity resource centers to overcome this issue, where multiple countries and/or bodies may combine expertise to improve safety. While such a development would contribute, rather than replace, existing security structures, it could also be used to cultivate talent and accelerate business innovation.
“As the world is becoming increasingly interconnected, everyone shares the responsibility of securing cyberspace.” – Newton Lee