The industry is seeing cyber criminals targeting low hanging fruit for financially motivated crimes. Bad actors are getting to know their targets pretty intimately, getting creative and doing their homework with openly available personal information. We see this data traded, dumped, sold, or even crowd sourced in underground markets.
Once again, it all comes back to the money. Seventy-one percent of the data breaches that occurred in the last year were financially motivated, according to Verizon’s annual Data Breach Investigations Report. While there’s been uptick in espionage targeting the manufacturing sector, the overwhelming majority of cybercrime still is carried out by hackers primarily interested in making a buck. Just ask the financial companies: For the first time last year, they reported more instances of fraud when a physical card was not used than when a card was present. “It’s not necessarily that attackers are changing their techniques, or even evolving,” said Alex Pinto, head of security research at Verizon, of the findings. “It’s that attackers are keen to go after whoever is the easiest target … and there was a very sharp uptick on financially motivated social engineering.”