Gadgets Magazine

Cyber Criminals Enrich Frauds Through Social Media: Business Firm’s Security at Stake

Posted on the 02 May 2019 by Ruby Mariah @rubymariah22

A perfect hunting ground for illegal activities: Social Media platforms for cyber criminals

Cyber Criminals Enrich Frauds Through Social Media Business Firm's Security at Stake

We are totally aware of the fact that the internet does not remain a safe place no matter what if we take preliminary precautions. There are plenty of people out there on the web that always works to get around with the safety mechanism as hard as the person that tries to put security measures. In addition, I would like to ask you people have you have felt hesitant while making a click on the shared post by friends on Facebook, Instagram, and other trendy social media platforms? It is not because you did not like the post and the content, but because you feel insecure that it might come up with malicious or suspicious stuff posted by them.

The inter-connectivity of social media apps and websites means it provides a perfect hunting ground for cyber criminals to perform illegal activities to get their hands on the business forms information and to sell it for making money. However, you finally have realized that the people you call friends on social media could be public enemy number one.

2019 Current state of cybercrime report from RSA Security:

RSA security report says cyber criminals are showing their interest in mobile phone devices, according to the current state of cybercrime report from RSA Security. The report has been released earlier of the last month, which says the fraud attack has been on the rise through social media and these days it’s been increased up to 43% this past year alone.

Trendy social media platforms likewise Facebook, WhatsApp, Instagram, Snapchat and others are easy for cyber criminals to use for illegal activities, according to cyber security Firm RSA.

The security firm RSA has further stated that cyber criminals are particularly using Facebook, Instagram, WhatsApp and many other alike in order to communicate and even to sell stolen identities, business data, credit card numbers, and other information.

“The security firm further added that the ratio of the cybercrime has been increased on these social media platforms.” Because platforms like these give them a benefit to using it easily, the absence of fees, anonymity, and others.

Since the digital transformation is on the rise within business organizations and cybercrime continues. The business organizations equipped with digital devices such as cell phones, gadgets and desktop laptop computer machines having internet connectivity business owners should remain vigilant.

Then they will be able to protect their business data and other valuable information from the cyber-attacks. Today, black hate hackers have created corporate chaos and business owners should be aware of the cyber warfare.  So, at the end of the digital transformation will become a critical contributing factor in the issues of growing online attacks, RSA report added that.

Cyber Crime through Social Media: Three Categories

  • Traditional broad –sweep scams, in which cyber criminals lure their target to make a click on link to visit page that may install malware on cell phone, gadgets and computer devices
  • They can push people for searching carelessly without knowing things better of personal data
  • Use social media platforms to connect for the exchange of ideas in order to trade stolen data or information
Social Media attacks have been increased up to 43% over the last year and cybercriminals finding new ways to exploit their target, according to RSA security firm

In addition, people that used of using Facebook, Instagram, and Snapchat are 30% and they are more likely to be victims of online fraud, cyber ransomware attacks due to the fact of increased exposure and information sharing. Online frauds, scams, phishing are the major challenges that have been posed by the digital revolution and RSA security has released a new white paper which says social media platforms is the best place for cyber criminals to thrive.

Malware, Scams & Ransomware: The Widespread Cyber Crime Activities

The problem lies in social media is that people have blind and trust, says Mark James, security specialist at IT security firm ESET. “And that is what cyber criminals more likely exploit.”

“However, people do believe that you have to tap on the link then the file will be downloaded and get and the cell phone or computer device got infected, he added. “The old school of thought has gone, there are plenty of things driven by downloads, infected adverts and things others alike. There are multiple techniques cyber criminals do apply to get their goals likewise brain jacking a of cyber security threat.

Now, these days it is easy for an employee to compromise their company’s owned machine full of private data. Initially, malware does not harm, but at the time when the backdoor is established to the infected computer machine, the access put the stored data at stake. The cyber criminals can infect thousands of computer devices at once and then use it in multiple ways. So, there could be multiple security threat for business these days no time ever before.

Malware, scams, ransom ware attacks have forced the business organizations to take security measures against these cyber criminals attacks to protect business intellectual property

Once the online criminals access the computer or cell phone device they can install software, which can hijack the victim’s stored data and even can read user name and passwords. Moreover, installing ransom ware is the most profitable scams; malicious software can encrypt the data on the target computer and then ask for the payment before giving back the information.

 protect business intellectual property

How Cyber Criminals Operate Through Social Media Platform?

Social media platforms are one the most advanced and easy way for cyber criminals for ideal hunting ground to attack someone’s as an individual or a company based on plenty of employees. Today, you can easily get to know about the company and the position of the employees in particular, and get to know who their friends with and to whom they are working as a professional.

This type of information is enough for the attacks and you can get this type of information from social media. Today, crypto currency mining malware is growing via Facebook. In addition, it is easy for anyone to plant online attacks on an individual by using the information available on social media profiles.

Furthermore, it would be easy if the target is a corporation, to single out any individual or a group of employees of any business firm. In addition, cyber criminals can target out anyone’s cell phones, gadgets and computer devices with a sophisticated online attack. Once it has done all the information and data would be at stake.

How to Put up Defense Against The Cyber Criminals?

The first and foremost security protection against the cyber criminals should be a multilayered approach, MR James from IT firm ESET explains. You cannot protect your business intellectual property and valuable information unless you have used multiple securities high –tech tools, because there is no magic bullet that can easily deal with the cyber-attacks.

Security software is very important, you have to have such technological tools that alarm you on time or it prevents the attacks convincingly. Traditional software may be good for individuals but when it comes to the business organizations you have used cell phone and computer monitoring software.

It will keep you updated about employee’s activities in multiple ways. You can monitor screen activities in real –time, you can get the social media logs in real –time and even get to know about the passwords applied on social media and on digital devices. It can help you out to monitor emails, data back up and even the keystrokes applied. I mean you can use mobile phone and PC tracking app to stay updated about any compromised activities that can help out cyber criminals to do an attack on your company’s intellectual property stored in digital devices.

Cyber-attacks & security software for cell phone and computers similar to the cat and mouse game respectively where the bad guy produce malware and good guy try to create the means to stop it and put private information under security.

Back to Featured Articles on Logo Paperblog

Magazines