The Federal Bureau of Investigation FBI saw a 217 percent increase in Cybercrime Reporting between 2008 and 2021. Last year, losses reached almost $7 billion. This is due to a highly skilled cyber-threat supply network that empowers threat actors with limited know-how and limited resources to put at risk personal, economic, and national security.

1. Ways To Protect Your Company From Cybercrime

2. Post Highlight
Some small- to medium-sized businesses SMBs consider Cybersecurity a problem to be
addressed once they have a larger budget. These businesses are the most likely to be affected
by cybercrime. 43 percent of cyberattacks are directed at small businesses. While criminals are
aware that larger corporations have stronger security systems than smaller businesses, they
often leave them vulnerable. It's time for SMBs to make cybersecurity a priority.
Businesses are becoming more exposed to cyber thieves as they store more of their own data
online as well as the data of their customers. Dealing with cybercriminals drives
up Cybersecurity Costs, which may eventually be passed on to customers at increased prices.
Companies must find ways to reduce their cyber-related risk exposure as they expand their
commitment to remote workers. Companies must address the unique challenges presented by
rapid transitions to digital business environments.
Even if you have limited resources, there are still things you can do to Protect Your Company
From Cybercrime.

3. Continue Reading…
The Federal Bureau of Investigation FBI saw a 217 percent increase in
Cybercrime Reporting between 2008 and 2021. Last year, losses
reached almost $7 billion. This is due to a highly skilled cyber-threat
supply network that empowers threat actors with limited know-how
and limited resources to put at risk personal, economic, and national
security.
Unfortunately, cybercrime hasn't stopped. A new report by HP Wolf
Security suggests that emerging technologies such as AI and quantum
computing could be used to enrich criminal organizations and further
national-state goals. Resistance will come down to security
knowledge, planning for the worst, and encouraging cooperation
across industries.
This Is The Story So Far
Since the beginning of the Internet, criminals have been using it. In the
1990s, Internet Relay Chat was used by hobbyists to communicate
online about topics like hacking or exploit development. The high
barrier of entry for hackers had been reduced by the availability of
commoditized malware tools. Financially motivated groups started to
gather around banking fraud in the late 2000s. Recent threats have
shifted to denial of data and destructive attacks, using "as-a-service"
models and adopting ransomware as their monetization method.

4. Complex supply chains made up of highly skilled individuals are the
hallmark of today's cybercrime economy. Access to networks, control,
and persistence are the most important things, regardless of whether
you use credentials or exploit vulnerabilities. Both have become more
affordable and easier to access, with lower entry costs. The report was
based on a three-month analysis of underground markets and forums.
It found that compromised RDP credentials sell for an average of $5
per copy, that almost all of the exploit-related ads are listed below $10,
and that nearly all of the malware advertisements are under $10.
Malware sellers offer value-added services that make it easier to
launch attacks. These services offer one-on-one mentoring,
exceptional customer support, and discounted malware hosting
through bulletproof host providers. The report shows that only 2-3%
of sellers actually code, which reduces cybercrime to a series of
repeatable, procedural steps that threat agents can continue to make
money.
Trust and reputation are essential in this new world. It is not
uncommon to see vendor feedback scores and many sites offer dispute
resolution and escrow payment. We also found that 77% of criminal
marketplaces require a vendor bond or license to sell. This can lead to
threat actors spending thousands. Given the importance of Tor-based
sites and their short lifespan, cybercriminals have found ways to
transfer their reputation between markets.

5. Looking Out At The Horizon
It is likely that we will see the same collaboration, specialization, and professionalization as
before. Hackers will continue to exploit corporate attack surfaces and may increase the number
of extortion attacks to cause the most disruption. We'll see hackers using tools and techniques
that were once only available to a few groups. The lines between cybercrime, and nation-state
actors will continue blurring with hostile states either sheltering criminal gangs or investing in
cybercrime to generate revenue to evade sanctions.
They will continue to be the first to adopt emerging technologies, as they have done in the past.
Quantum computing could be used to accelerate decryption. Web3's vision of a decentralized,
Blockchain-based internet could open up new opportunities for reputation systems that support
cybercrime, which might be more difficult to dismantle. Artificial intelligence could be used to
automatically select targets from victims' addresses and to create convincing spear-phishing
attacks using previous communications. This would help to increase ROI.
Also Read: 6 Essential Business Benefits Of Artificial Intelligence
Collaboration, Best Practices, And Resilience
All of us need to do more in order to combat this increasing cybercrime. This means that
individuals must be more aware of cybercrime. Organizations need to be more aware of the
basics and plan for resilience.

6. Basic mastery is the ability to follow best practices such as multi-factor authentication and IT
asset discovery and management. It also involves prioritizing self healing hardware to increase
resilience in the event that there is a breach. Organizations must also block common attack
routes such as email and the internet. These could be neutralized using techniques like threat
containment or isolation. Next comes resilience--achievable by putting in place the people,
processes, and technology to detect, prevent and recover from any attack before it gets serious.
It involves planning for the worst-case scenario, creating processes to limit supply chain risk and
insider risks, and repeatedly practicing incident response.
Even if you have limited resources, there are still Ways To Protect Your Company From
Cybercrime.
1. Employee Training Should Be Conducted
Untrained employees are a major vulnerability. It is vital to train employees in cybersecurity.
Phishing is one of the most dangerous security threats. Employee security threat education
shouldn't be done just once. Regular cybersecurity training is necessary to stay current with
new technologies and prevent security risks from being introduced by new hires.
2. Make A Plan For System Security
The system security plan (SSP), is a summary that lists all security measures that protect your
data. The SSP describes features of a system, such as hardware, software, and security
measures. It also identifies training methods and incident response plans. This document
contains details about how to restrict access to authorized users, ensure employees have secure
habits and provide assistance in the event of a security breach. This document also helps to
prevent things from falling through the cracks during busy schedules. You can save money if
your IT staff has the knowledge to handle this task. Otherwise, it's better for you to hire a
consultant. An ineffective SSP can end up costing you even more.

7. 3. Maintain Software Up-To-Date
SMBs are often too busy to make sure their software is up-to-date. However, outdated software
can pose a security risk to your company. Hackers are known to study the most recent software
updates and target businesses that have not yet adopted them. Fortinet's 2017 Global Threat
Landscape report shows that 60% of security breaches were based on vulnerabilities older than
10 years.
4. Enforce secure password policies
Passwords shouldn't be re-used and should be kept current. Hackers can also crack simple
passwords. A 2012 password-cracking expert discovered a program that could bypass any eight-
character password. This is why passwords should not be less than eight characters. The more
complex the password, the better.
5. Security Outsourcing
If you are feeling overwhelmed by the idea of managing cybersecurity issues, there are many
resources that you can consult. Because they don't fully understand cybersecurity, many small
businesses put it at the back of their minds. This could lead to your downfall.
Many IT companies are specialized in helping small businesses increase their security.
Sometimes, anti-malware and anti-ransomware technology are simpler options. According to
research by Verizon, malware is responsible for 28 percent of security breaches. You can reduce
your security risk by using software that blocks malware attacks.

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