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Four Trends in Cybercrime Amid Crisis

Aug 18, 2020 | by Alon Shmilovitz |
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Cybercriminals are known to thrive in times of crisis and major events, and today is no exception. The current climate is ideal for a fraudster to deploy social engineering attacks and prey on every emotion and circumstance. 

The RSA FraudAction analysts and researchers analyzed a wide range of attacks including phishing, Trojans and rogue apps to help our customers better understand the current cybercrime landscape. Coupled with on-going monitoring of fraud forums and hacking forums on the darknet, underground marketplaces, open-web sources and fraud groups in social media, it provides the FraudAction team with a unique view of the Dark Web both in breadth and depth. The following is a summary from a recent threat report excerpt, “RSA FraudAction™ Intelligence: Today’s Cybercrime Landscape” and highlights the four key trends in cybercrime today:

1. The bad actors are organized

Observations of the underground cybercrime community shows fraudsters are well organized in their communication and preparation for the new reality dictated by the global health crisis and resulting disruptions.

2. Critical sectors are under attack

Medical and government institutions are critical during these challenging times, and the public has become accustomed to frequent contact from these authorities. It is not surprising that these sectors have been heavily targeted by fraudsters. Several attacks of this nature were discovered by our analysts.

3. Malware is omnipresent

Various malicious coronavirus maps have emerged, and while they may provide reliable information, they also infect end users with malware. Rogue apps are also being used to plant malware on victims’ devices. The team has uncovered multiple examples of mobile malware hidden in what appear to be apps for coronavirus tracking.

 

4. Cybercriminals are also worried about COVID-19

Our researchers have come across countless threads in fraud venues with information and live updates on how to keep safe along with discussions and questions about the nature of the virus, thoughts, worries and more.

Global trends and events not only impact our personal and work lives, but significantly shape the cybercrime landscape. Cybercriminals have adapted quickly to the new reality; not only capitalizing on it,but sharing recommendations, guidelines and knowledge within their communities.

While the attack schemes are not new, the circumstances have changed. The exponential increase in digital traffic, including users less accustomed to online activity, significantly enhances susceptibility.

RSA® Fraud & Risk Intelligence Suite enables organizations to manage risk across consumer-facing digital channels, allowing them to maximize revenues and minimize fraud losses. The suite is part of the RSA portfolio of business-driven security solutions, which provides a unified approach to managing digital risk that hinges on integrated visibility, automated insights and coordinated actions. RSA protects millions of users around the world and helps more than 90 percent of the Fortune 500 companies thrive and continuously adapt to transformational change. 

Want more? Contact us to discover the benefits of RSA FraudAction, including access to full reports on the latest online threats and fraud trends. 

For current customers, please reach out to FAS.Customer.Ops@rsa.com to request the full report.

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