Cyber Criminals Are Cashing in on COVID-19 as Phishing Attempts Spike Dramatically

Oct 12, 2020

Cyber Criminals Are Cashing in on COVID-19 as Phishing Attempts Spike Dramatically Image

The threat of COVID-19 has affected businesses in terms of employee health and workplace disruption, but there is less awareness about its effects on businesses from a cybersecurity standpoint. Cybercriminals have been capitalizing on the wave of fear brought on by the COVID-19 crisis through spam, phishing attempts, and malicious attachments. According to Trend Micro, phishing attacks have skyrocketed following lockdowns in February and March, up from 4,786 detected attacks in January to 2,915,129 instances in April, making up 91.5% of detections for COVID-19-related cyber threats during the latter month.

The shift towards remote work caused by COVID-19 has exacerbated what was an issue on its own. Physical separation from the workplace has made it difficult for employees to identify suspicious emails, according to Beazley, a London based parent company of specialist insurance businesses, stating, “Without a coworker to converse with at the next desk, employees are less likely to do a “sense check” of a suspicious email.”

This isn’t just a COVID-19 issue; however, it’s about the tactics and techniques that attackers use to bluff their way into organizations. What will be the next COVID-style event? Whether it’s an economic event, a terrorist attack, or a natural disaster, cybercriminals will use recent events to capitalize on fear, uncertainty, and doubt. Secuvant looks to help clients counterbalance those attempts with a firm knowledge that they have controls in place to reduce risks associated with these attacks. This is why we offer a managed information security awareness and anti-phishing training solution. We custom-tailor the solution to meet needs in terms of training modules based on industry or anti-phishing training based on the organization’s specific platforms.

About Secuvant:

Located in Salt Lake City, Utah, Secuvant is a global leader in integrated cyber threat analytics and risk advisory services, built on a value system of client focus, integrity, accountability, execution, and teamwork. Secuvant’s mission is to provide clients with a Clear Path Forward in their pursuit of establishing an acceptable security risk posture. Secuvant’s success is built upon strict adherence to its values, a functioning world-class advisory board, the unique combination of cybersecurity expertise and industry / vertical specialization, and a team of experts that repeatedly deliver best-in-class managed and advisory cybersecurity and risk services. Secuvant understands Cyber Risk is Business Risk™ and uses methodologies and metrics aimed at minimizing business risk. Services include but are not limited to, Security Gap and Risk Assessments, Risk Program Management, Executive and Board Cyber Advisory, Penetration Testing, Security Monitoring, Managed Detection and Response, and Incident Response services. To learn more, visit www.secuvant.com.