How Not to Be the Star of Your Own Cybercrime Comedy: Avoiding Ransomware and Other Digital Disasters

Introduction

Did you know? Every 14 seconds, a company falls victim to a ransomware attack, according to a 2023 study by Cloudwards (a popular cloud software review website). It’s almost like cybercriminals have their own version of ” Shark Week” – only instead of being scared of great white sharks, we’re all just trying to avoid getting bitten by ransomware!

Cyberattacks are alarmingly frequent. On average, there are nearly 4,000 new cyberattacks every single day! The threat of cybercrime is ever-present, and let’s face it, it can wreak havoc on both individuals and companies alike. If your personal information ends up in the hands of the wrong people, the consequences aren’t just limited to binge-watching your credit score drop. Your stolen data could be the ticket for them to launch attacks against your employer, effectively turning you into an unwitting accomplice in their cyber shenanigans.

So, how do these cybercriminals leverage stolen data to target companies? Let’s dive into the undercover world of cybercrime—cue the dramatic music!

1. Phishing and Spear-Phishing

Picture this: you’re just trying to enjoy your cup of coffee, and then boom! A phishing email lands in your inbox. Cybercriminals love using stolen personal information to create emails that look legitimate. They can craft highly personalized messages that appear to come from your boss or a vendor you don’t even remember hiring—but can you trust them? Spoiler alert: No.

With your personal data in hand, these cybervillains can create an irresistible sense of trust and urgency, like that one friend who always “urgently” needs $20 and promises to pay you back… someday. Click on that malicious link, and you might as well be handing them the keys to the kingdom!

2. Credential Stuffing

Imagine using the same password for both your personal and work accounts. Hackers dream of that scenario! They can easily log into your company’s systems using your stolen credentials. It’s like leaving your front door wide open and then wondering why you have unexpected guests.

Once inside, they could access sensitive data faster than you can say “Oops, I did it again.” With their high-tech tools, they can automate their nefarious activities, attempting to gain entry to your company’s login pages with the same enthusiasm we have for pizza on a Friday night.

3. Ransomware Attacks

With access to sensitive data, cybercriminals can unleash their inner villains by deploying ransomware. They’ll take your company’s data hostage and demand a ransom, just like a cartoon villain—but with less melodrama and more zeros on the price tag. This can bring your business operations to a grinding halt, and let’s be honest, no one wants to be stuck watching paint dry while trying to decipher what ransom note to pay!

Even if you manage to get your data back, there’s still the looming threat of double encryption lurking in the shadows. It’s like inviting a bear into your house because you thought it was just a cute puppy—and now it won’t leave until you pay it even more!

4. Business Email Compromise (BEC)

Here’s a fun crossword puzzle clue: “They often impersonate company executives to trick others into transferring money.” The answer? Cybercriminals! Using stolen data, they can pretend to be your boss—or even the intern who somehow knows too much—to sway unsuspecting employees to swiftly transfer money or information. It’s like a bad practice show for “who can trick who?”

Consistent with the trends, 91% of all cyberattacks kick off with a phishing email. Who knew phishing could be so popular