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BizReport : Internet : September 07, 2020

Reports: As time spent online increases, so do cyberattacks

Two new reports shed light on the darker underbelly of the online space: fraudsters and cyber criminals. As people have spent more time online, both for ecommerce, social networking, and entertainment these nefarious types have also increase their efforts to defraud both consumers and businesses. Here's what you need to know.

by Kristina Knight

According to GreatHorn's new report just over half of cybersecurity and IT pros say they've seen an increase in phishing attacks since the beginning of the pandemic. This is likely no surprise because when businesses shut down physical stores they didn't fully close - workers simply went home to work. While at home, these workers have used less secured devices to connect with employers. Researchers say that on average businesses are dealing with more than 1,000 phishing attacks per month, what's more most (62%) say that those targeted and falling for these attacks cross typical demographic lines. This means it isn't only younger or older works who are fooled into clicking nefarious links, which raises the risk bar significantly for most businesses.

"With such a substantial portion of these attacks yielding success, the time lost on remediation can have a detrimental impact on productivity and profitability. Right now, it's more important than ever that companies provide their employees with the knowledge and tools necessary to recognize and fend off phishing attacks," said Kevin O'Brien, CEO & Co-Founder, GreatHorn.

Other interesting findings from the report include:

▪ 76% of security pros say their business offers cybersecurity training but only about one-third of employees attend/train quarterly
▪ 30% say phishing attacks 'are more successful' now than pre-COVID
▪ 56% say the most-targeted employees are mid-level managers

More data from GreatHorn's 2020 Phishing Attack Landscape report can be accessed here.

Meanwhile, DataVisor's Q2 State of Mobile Fraud report indicates that mobile app fraud is considerably less than web fraud, although both remain an issue for businesses and consumers alike.

"Across the globe, there are 3.5B smartphone users--nearly half the world's population. Those users combined to download more than 200B apps. These numbers serve to make clear the ongoing rise to dominance of the mobile channel. For fraud teams for whom risks and threats associated with web channels are better understood (having been around for more than a decade), mobile apps unquestionably present a whole new threat landscape," write the report authors.

According to researchers only about 1% of mobile app events are considered fraudulent while more than one-quarter of mobile web and desktop web events are considered fraudulent.

Tags: cybersecurity trends, DataVisor, digital security, ecommerce, GreatHorn, mcommerce, mobile marketing

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