Ransomware, Phishing Attacks Rise as Cyber-Crime Increases
Cyber-criminals are continuing to exploit human nature as they rely on familiar attack patterns such as phishing, and are increasing their reliance on ransomware, according to a recent report from Verizon.
The report found most attacks exploit known vulnerabilities that have never been patched despite patches being available for months or even years.
In fact, the top 10 known vulnerabilities accounted for 85 percent of successful exploits, and 89 percent of all attacks involve financial or espionage motivations.
"One of the most concerning findings was the fact that 63 percent of data breaches were a result of weak, default or stolen passwords," Ryan Disraeli, co-founder and vice president of TeleSign, told eWEEK. "At TeleSign, we know passwords are failing us when it comes to protecting online accounts. In fact, our research shows that 70 percent of consumers no longer trust passwords to protect them, but Verizon's report makes it clear that online security best practices are not evolving as fast as they should. It's up to both businesses and consumers to step up their efforts."
A Verizon report found most attacks exploit known vulnerabilities that have never been patched despite patches being available for months or even years.
Disraeli said more businesses need to start offering (even mandating) additional layers of security such as two-factor authentication, which makes it more difficult for hackers to attack accounts.