2020 Was a Year Full of (Cyber) Threats | Antivirus

With the threat of the coronavirus, the risk of cyber attacks also increased. This danger, like the virus itself, will remain. Companies and consumers have to learn to deal with it. The vaccination helps prevent you from getting sick, or at least not getting seriously sick. And which “vaccination” helps against cyber threats?

Nothing shaped the year 2020 as much as the coronavirus. It threatened and continues to threaten people's health and lives. The momentous measures to contain the pandemic endanger the economy as well as stability and cohesion in society. The pandemic also hurt cybersecurity. Because although it was already clear at the beginning of 2020 that the cyber risks would increase, no one could have guessed to what extent the risk situation for companies and consumers would worsen.

Ideal Conditions for Cyber Hackers

Companies sent their employees to the home office and equipped them with a variety of tools, mostly from the cloud. At Zoom alone, this led to a 3000% growth: while 10 million users took part in meetings via Zoom in December 2019, the figure was 300 million by April 2020. Also, employees' private devices were used in many companies. Understandably, the priority was to keep the business going. Many companies were not at all or insufficiently prepared for the rapid change in their way of working. That and the massive increase in online transactions and thus at potential points of attack created ideal conditions for cyber attackers. The opportunities for cybercriminals

300% More Cyber Attacks

The criminals took their chances. The World Economic Forum (WEF) reports that, according to the FBI, the number of reported attacks has increased by 300% since the pandemic began. The number of unreported cases is probably a lot higher. It hit many companies, such as Nintendo, EasyJet, Garmin and SolarWinds. The attack on SolarWinds made international headlines. Because the company, manufacturer of a network and application monitoring platform, was compromised and sent malicious updates to its customers. Affected users included 425 of the US Fortune 500 companies, all branches of the US military, the Pentagon, the State Department, and other well-known companies and universities around the world. The attack is considered one of the worst cyberattacks in the US due to the sensitivity and awareness of the targets and the length of time (9 months) that hackers had access to the accounts. Twitter was also among the victims last year. 130 Twitter accounts, including those of Warren Buffett, Bill Gates and Elon Musk were hacked using spear-phishing tactics. The same thing happened to the Marriott hotel chain. Data from 500 million guests who made reservations at a Starwood hotel was disclosed. were hacked using a spear phishing tactic. The same thing happened to the Marriott hotel chain. Data from 500 million guests who made reservations at a Starwood hotel was disclosed. were hacked using a spear phishing tactic. The same thing happened to the Marriott hotel chain. Data from 500 million guests who made reservations at a Starwood hotel was disclosed.

Cybercrime Is a Lucrative Business.

According to expert forecasts, the volume of cybercrime will exceed the 6 trillion US dollar mark this year. The criminals also cashed in in Switzerland. The average amount of ransomware payments in this country in 2020 was around CHF 100,000, 33% higher than in Q4 2019. In individual cases, however, an attack costs considerably more. The Nikon building technology company Meier Tobler, for example, recorded costs of around 5 million francs. Meier Tobler was not the only damaged company in Switzerland. The industrial group Huber + Suhner was hit in December. After a cyber-attack with malware, the company had to turn off all workstations, which also brought production to a standstill. Swisswindows had to file for bankruptcy, among other things as a result of a cyber-attack. And at Stadler Rail, hackers blackmailed the company by publishing sensitive data. The company didn't give in, the data was released. At Garmin, too, an attack paralyzed many services for millions of users of the popular fitness trackers. Swatch was also slowed down by an attack - for a full two weeks, as was MetallZug, the Brugg Group and the Hirslanden Private Hospital Group. The list could go on for a long time. The known cases represent only the tip of the iceberg. Most of the successful attacks never come to the public. At Garmin too, an attack paralyzed many services for millions of users of the popular fitness trackers. Swatch was also slowed down by an attack - for a full two weeks, as was MetallZug, the Brugg Group, and the Hirslanden Private Hospital Group. The list could go on for a long time. The known cases are only the tip of the iceberg. Most of the successful attacks never come to the public. At Garmin too, an attack paralyzed many services for millions of users of the popular fitness trackers. Swatch was also slowed down by an attack - for a full two weeks, as was MetallZug, the Brugg Group, and the Hirslanden Private Hospital Group. The list could go on for a long time. The known cases are only the tip of the iceberg. Most of the successful attacks never come to the public.

Most Popular Attack Method: Social Engineering

Phishing and ransomware attacks were again the most common types of attacks in 2020. Social engineering remained the undisputed most important attack method. Cybercriminals are still successfully using the "weak point" of humans to gain access to corporate networks and data. It's easy to understand: a link is quickly clicked, a file is quickly downloaded - and it's done. Without the employee in question even noticing, he opened the door to the attackers. Until the employee knows that their device or account has been compromised, the attack or data theft is long in progress. It is not difficult to suspect that social engineering or cybercrime in and of itself will remain a massive problem for the next few years.

"Vaccination" Against Cyber Attacks

The coronavirus cannot be eliminated either. But: The vaccination against the virus ensures that the disease does not break out, or at least does not progress, even in the event of an infection. The same applies to cybercrime: companies can also specifically strengthen their defenses against the machinations of cybercriminals and thus protect themselves from the serious consequences of successful attacks. Many companies have already understood this and are investing in better protection. According to the WEF, global cybersecurity spending will rise to $ 433 billion by 2030.

Cybersecurity Is a Priority in The Digitized World

Extensive protection is necessary. Because the corona pandemic has accelerated the digitization of the economy. Numerous companies will keep their home office solutions even after the crisis has been overcome. In a Gartner CFO survey, 74% of companies said they plan to have employees work from home permanently. Facebook, for example, has already announced that it will switch half of its staff to remote work. Improved and consistent cybersecurity is the only way to keep the risks of cybercrime in check in the future. After all, no company can afford unexpected interruptions in operations, long-term productivity losses, and damage to its reputation, especially not several times. Because the number of attacks and their violence is increasing. The risk,

Consistent Security Strategy

Every company needs an effective security strategy like install an antivirus that can react to threats in time, prevent them or at least keep the damage to a minimum. The prerequisite is to create an awareness of the threats, and this in all employees, not just in the IT department. With the support of experienced experts, protection strategies and mechanisms can be worked out and established with which maximum resistance can be achieved.