Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Other » Cyber Attacks a Mix of Old School Methods and Sophistication

Cyber Attacks a Mix of Old School Methods and Sophistication

By
Add to Favorites:
Cyber Attacks a Mix of Old School Methods and Sophistication
April
22

Cyber criminals are getting smarter when pulling data heists, but they are also relying on some old school tricks of the trade including phishing and hacking, according to a new report. And if you’ve been a victim of a cybercrime, chances are you aren’t alone. Seventy percent of attacks not only use these techniques, but also involve other victims.

The 2015 Data Breach Investigations Report by Verizon Enterprise Solutions gives the inside scoop on what cyber criminals are up too. It also highlights some vulnerabilities that still exist and make it easier for data to be stolen. This includes security patches not being implemented. Some have been outdated since 2007.

Cyber criminals are getting smarter, but are we?

As was the case in last year’s report, detection deficits remain, meaning that there is a real lapse between the time of the beach and the time it’s uncovered by victims. In 60% of cases cyber criminals were able to breach data within minutes, but the report suggests that many could have been thwarted if a more vigilant approach to cyber security was employed.

“We continue to see sizable gaps in how organizations defend themselves,” said Mike Denning, vice president of global security for Verizon Enterprise Solutions. “While there is no guarantee against being breached, organizations can greatly manage their risk by becoming more vigilant in covering their bases. This continues to be a main theme, based on more than 10 years of data from our Data Breach Investigations Report series.”

What about cyber threats to your smartphone or other mobile devices and platforms? The data in this report suggests that they are being overblown and that in the end threats to these platforms are minimal.

Patterns in breaches

Verizon security researchers looked at 80,000 security incidents and found that 96% fell into one of nine different attack patterns, which may vary from industry to industry. This breakdown may be a way for companies to access threats and prioritize where to invest their energy when it comes to security.

Cyber criminals preferred attack methods are:

  • Miscellaneous error–including sending an email to the wrong person
  • Crimeware–assorted malware aimed at gaining control of systems
  • Insider/privilege misuse
  • Physical theft/loss
  • Web app attacks
  • Denial-of-service attacks
  • Cyberespionage
  • Point-of-sale intrusions
  • Payment card skimmers

This was the eighth year of the study which looked at 2,100 confirmed data breaches and about 80,000 reported security incidents. All the research is available at the DBIR Resource Center.

Verizon Enterprise Solutions provides global managed security solutions in a variety of industries including healthcare, manufacturing, financial services, retail, government, technology, transportation and energy.

Add to Favorites:

Related News:

American Express Fighting Fraud With Small Merchants

By Dar Dowling, Posted: March 13, 2015

Cyber security is on everyone’s mind these days, and to ramp up for the launch of the new EMV technology designed to help make using credit and debit cards safer for consumers and businesses, American Express has rolled out its Small ... Continue reading
Credit Cards Are Actually the Best Way to Protect Yourself Against Fraud

By Dar Dowling, Posted: February 19, 2016

When it comes to fraud there is a lot that consumers can do to protect themselves. But there is also a lot that credit card issuers can do to help them out including offering services like credit monitoring. Continue reading
Tips to Keep Cyber Thieves Away

By Dar Dowling, Posted: January 28, 2015

The American Bankers Association (ABA) has some tips for consumers in recognition of Data Privacy Day today. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 12.24%-22.24% based upon your creditworthiness.
For Excellent/Good Credit
1% cash back on select purchases, terms apply
For Fair Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit