Cyber security is in the talks. As per the Cybersecurity Ventures report, by the end of 2025, cybercrime will cost the world $10.5 trillion. 

The greatest transfer of economic wealth in history – from $3 trillion in 2015 to $10.5 trillion in 2025, cybercrime is a global and alarming issue. 

There is a global campaign going on around to raise awareness regarding cyber security threats with companies aiming to uncover new reasons behind the massive rise in crimes. Read more about ID verification.

Alert Fatigue – Missed Cyber Threats

Since the coronavirus outbreaks and amid massive work transition, there has been an obvious rise in cyber threats, breaches, and alerts. This vicious cycle and increase cybercrimes have led companies to stress over the crisis. 

It has been talked about a lot, how employees working remotely show less diligence in safeguarding company data from cybercriminals. However, there is more than just a lack of concern from employers for increased cybercrimes amid the pandemic. 

If you are working remotely for your company or are part of the hybrid work standards, you would be aware of the frequent cyber security alerts. As soon as you open your screen, hundreds of notifications pop up until you shut down your work. The frequency of cybersecurity alerts has led to a new situation called “alert fatigue.”

The so-called “alert fatigue” signals the numbness of staff about the cyber alerts. Instead of responding to alerts in a short time, the staff takes a longer time to respond and even misses the alerts. 

This responsive manner has led to major burnout in the IT department and high turnover among the staff. 

As per the recent findings by International Data Corporation, the security staff of companies is spending an average of 30 minutes on a single alert. The staff also spend 32 minutes chasing a false alert. 

Social Engineering Attacks

Social engineering tricks are not new. Malicious cybercriminals have been using a wide range of tricks to manipulate users. However, with increased remote and hybrid work mode situations, attackers have become more diligent in their approach.

Phishing attacks are an example of their smarter work. You might know how an email asking for your password or personal information is part of the phishing fraud. But these days, cybercriminals are using fake URLs that might seem legitimate to fool users into submitting their passwords and sensitive information to the website. 

Prevention Tips

Working from home has been difficult in terms of finding the right internet service. While good internet is the key to effective remote work, it is also necessary for cyber security. Using a cheap and unreliable internet service can open pathways for malicious attackers, who sweep into your system and hold the company’s or your personal information hostage. 

However, employees using a secure internet service like the one from Cox decreases the chances of cyberattacks while working from home. Not only high-speed internet service but Cox also offers Cox Homelife to give users control over their devices. Cox Homelife can work as an additional security layer for remote workers as they can set alarm systems to monitor any malicious activity in their homes, even when they are away. 

Other than investing in high-speed internet service and home security systems, it is important to be aware of phishing emails. An email that requests to open an attached link or to click at a suspicious-looking link has a high chance of being a fraud.

Moreover, emails with poor grammar or the ones asking for sensitive information should be flagged and held accountable at the earliest. 

The key tip is to have a sense of urgency at all costs to protect company data through fraud detection.  

Cyber Security Awareness Month

18th anniversary of cybersecurity awareness months calls for due diligence. Although cybercrimes have vaulted over, with some security measures a lot can be handled. So, #ThinkB4UClick.