Cybersecurity in Pandemic time
Sumesh Krishna, Partner
Our business is in the most disruptive times now, and the cybercrimes are also at their peak, giving nightmares to the business owners. Now cybersecurity is one of the priority agenda among all the C-suite members of a business.
Cybercrimes are emerging to second place, with 33% per cent of all types of business-related fraud. Cybercrimes are accelerated during the pandemic mainly because of remote work scenarios.
Data breaches, ransomware attacks, BEC and phishing attempts have increased during remote work; according to the sources, over 60000 emails per day include COVID related attachments or malicious websites.
The following are some examples of socially engineered scams happening in this pandemic time.
- Mails camouflaged as government announcements: Various mails are focusing on phishing, carrying government institutions logo and unnatural links related to COVID-19.
- Fake medical advice: – Mails are sent as attachments my mentioning secure cures related to COVID-19 in the name of known medical providers.
- Charity: Mails in a phishing nature is sent in the name of pandemic to solicit donation
- BEC Campaigns:- Campaigns are initiated to target the operationally affected industries.
- Unverified websites and mobile apps: During the pandemic most of the companies are forced to adopt remote working and for this they need to use various IT tools and platforms. Many companies have not checked the reliability of the platforms they are using, which exposes their company to cyberattacks and related frauds.
As cyberattacks and frauds proliferate during the crisis, companies need to assess their cyber risks and prepare for potential threats regularly.
Cyber risks are unique to each company based on the activities and the data they are handling; like financial institutions and healthcare companies that handle a large amount of critical personal data. So, the company needs to explore the cyberattacks considering the following points;
- Technical and operational activity and data attacks
- Business and financial activity and data attacks
- Regulatory and compliance-related attacks
The risk of cyberattacks is high, which results in increased costs to the companies to safeguard them. But investment in resources and related tools for assessing and mitigating cyber risks might be less than the legal and financial consequences caused due to a cyber-attack.
HLB HAMT has a perfect team and having the right expertise, we helps many organizations in/ by;
- Developing a risk-based security strategy to strengthen the basic security coverage.
- Implementing and scaling out security controls.
- Provide training to the workforce.
- Choosing the right tools.
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