2020 was a rough year for all of us, particularly from a cybercrime perspective. As businesses and schools rapidly pivoted to remote work and remote learning, many cybercriminals changed their tactics and adjusted their focus to take advantage of the situation as well as user uncertainty and fear.

As working and learning from home remain the norm for many individuals and businesses around the world, cybercriminals are poised to continue aggressively targeting users specifically using a blend of online and offline tactics

Fortunately, there are many steps your organization can take to better safeguard your digital assets against cyberattacks. As cybercriminals adjust their tactics, businesses of all sizes need to remain agile and stay up-to-date on the latest cybersecurity threats.

2021 Top Cybersecurity News

The Ongoing Fallout from the SolarWinds Attack

The SolarWinds attack, which infiltrated both the US Treasury and the Department of Homeland Security as well as a number of private organizations, rocked the cybersecurity world. Uncovered last December, this wide-reaching, devastating attack is believed to be the work of the Russian Intelligence Agency’s Foreign Intelligence Service and may have been launched as early as March 2020.

This supply-chain attack used malware to infect the networks of most, if not all, of SolarWinds’ customers via a software update. However, because the Russian attackers have had access to a wide number of networks for as long as several months, security experts are still working to determine exactly how widespread the attack was and what sensitive data and systems have been compromised. 

Even once experts know the full extent of the attack, the remediation process will be long and grueling. Entire enclaves of computers, servers, and network hardware across both federal and corporate networks will need to be isolated and replaced even as security teams continue to hunt for evidence of malware, determine what information has been compromised, and create and implement strategies to mitigate loss and damage. 

Number of Cyberattacks Expected to Rise

In addition to dramatically changing how we go about our daily lives, COVID-19 has also provided a convenient cover for cybercriminals as they shift their attack vectors away from large, well-guarded corporate networks to small, potentially vulnerable home networks. One study suggested that, in 2021, a ransomware attack on a business is likely to occur every 11 seconds, up from every 40 seconds in 2016. 

INTERPOL’s assessment of the impact of COVID-19 on cybercrime has shown similar trends, with targets shifting away from major corporations, governments, and critical infrastructure in favor of small businesses and individuals. 

2021 Cyber Attack Trends

User-Targeted Attacks Expected to Rise

As workers swap their cubicles for their kitchens, cybercriminals have changed tactics accordingly. The work from home model has brought with it a rise in successful attacks, at least in part because users are more likely to use personal devices (which are often less secure) for work-related activities.

As users log in from home, they create personal islands of security: a model where each user is effectively following different (often lax) security protocols. When workers are onsite, all of their traffic is routed through your business’s network, which is likely closely monitored by a professional security team. However, without a dedicated security team watching every employee’s home network and personal device, your organization is exposed to increased risk.

Cybercriminals are taking advantage of this increased attack area to create personalized attack chains. While traditional tactics often involved a “spray and pray” approach (where cybercriminals used generalized social engineering attacks, such as the classic Nigerian prince scam, to target a large number of users in the hopes that a few would bite), recent trends have seen a rise in hyper-personalized attacks that target specific uses with privileged access to sensitive infrastructure, data, and systems. 

While this approach is more time-consuming (since attackers need to identify and profile specific individuals to create the targeted attack), this approach is more likely to yield shorter attack-cycles, making it increasingly difficult for organizations to identify and stop attacks in progress.

Another user-focused trend to watch out for is cybercriminals increasingly targeting individuals via their phones.

A Blend of Online & Offline Tactics

The work from home era has forced cybercriminals to adapt their tactics, but unfortunately, many have done so successfully. One tried-and-true cybersecurity attack, the phone scam, has seen a resurgence.  

COVID-19 Scams Continue

According to the FCC, many cybercriminals are taking advantage of the fear and uncertainty around COVID-19 to trick unsuspecting victims into revealing sensitive personal information using social engineering. These include phone calls, emails, or text messages offering “COVID-19 kits”, “Coronavirus packages”, or Medicare benefits related to the virus. Scammers use these promises of assistance to try and convince potential victims to hand over sensitive information such as bank account details, social security numbers, or medicare numbers. 

A similar but related scam involves scammers offering “relief payments” from government agencies. These calls, text messages, and emails typically follow a general format: The caller says you have been approved to receive money, either via a relief payment or a cash grant or even via a low-interest small business loan and then asking for personal information (to “verify your identity”), banking information (so they can charge you a small “processing fee”) or both. Some scammers also ask for payment via cryptocurrencies (such as bitcoin) or gift cards. 

If you are located in the United States and are targeted by scammers, please report your encounter to the FCC.

Fake Tech Support Scams on the Rise

Another twist on the phone scam is the fake tech support scam. This follows a similar format to the scams discussed above but involves cybercriminals asking users to grant access to their computers so they can “conveniently” fix a tech support problem you weren’t even aware you have. 

Criminals then use this access to install malware, add backdoors for future access, or log keystrokes (to capture usernames, passwords, banking details, and other sensitive data). 

SMBs Likely to Invest More in Cybersecurity

As cyber threats continue to rise in 2021, small and medium-sized businesses are, particularly at risk. This is because, unlike large, enterprise-level organizations, many smaller organizations still believe that they are less likely to be targeted.

According to research conducted by Analysys Mason and reviewed in Forbes 2021 cybersecurity predictions, SMBs cybersecurity spending (including services, hardware, and software) is projected to grow by 10% between 2019 and 2024, creating an $80 billion market.

Safeguarding Your Organization in 2021

The best thing you can do to safeguard your organization’s digital assets is be proactive. Make sure you are up to date on all the latest cybersecurity threats and have a well-rounded and up-to-date cybersecurity incident response program in place

You should also assess your current cybersecurity posture regularly to ensure it is continuing to meet your needs, and you may want to consider conducting pen (penetration) tests to stress-test your current defenses. You should also make sure that all new employees receive cybersecurity training as part of their onboarding process and that all workers undergo refresher training regularly. You may also want to consider conducting tabletop exercises to give your team a chance to test their cybersecurity response skills in a no-risk environment. 

Virtual Armour is Here to Help

Safeguarding your organization from cybersecurity threats can be a lot to handle, particularly if you aren’t already a cybersecurity expert. That’s why Virtual Armour is here to help. Our team of experts can review your current practices with you, help you identify weaknesses, and create a plan to strengthen your defenses. We are also able to monitor your infrastructure, firewall, and endpoints 24/7/365 for potential threats and help you mitigate or even avoid damage should an incident occur. 

We have extensive experience working with service providers as well as organizations in a variety of industries and verticals, including healthcare, finance, retail, and energy

For more information about our service offerings or to find out what you can do to safeguard your digital assets best in 2021, please contact us today.