Cybercrime: EMEA endures most vulnerable period

January 30, 2019 • Breaking, Companies, Editors Note, Exclusive, Featured, Finance & Banks, Internet Banking, Mobile Banking, News, Security, Software, Technology

Phishing attacks

JOHANNESBURG – BUSINESSES in Europe, Middle East and Africa (EMEA) have been urged to be vigilant in the middle of a surge phishing  attacks.

Fraud incidents between October and January jump over 50 percent compared to the annual average.

F5 Networks, in collaboration with Webroot, has launched its second annual Phishing and Fraud Report, highlighting an anticipated threat surge during the period.

“We’re in the middle of a cyber-crimewave where phishers and fraudsters take advantage of people at their most distracted,” Simon McCullough, Major Channel Account Manager, F5 Networks, said.

It is prime season for individuals giving up credentials or inadvertently installing malware, he explained the rising trend.

“Businesses are wrapping up end-of-year activities, key staff are on
vacation, and record numbers of online holiday shoppers are searching for the best deals, looking for last-minute credit or feeling generous when charities come calling,” McCullough added.

According to the Phishing and Fraud Report, technology companies were most mimicked (70 percent of incidents), with 58 percent of phishers’ time spent posing as big firms like Adobe, Apple, Dropbox, DocuSign, Facebook, Google and Microsoft during the monitored period.

The finance sector was also under fire with 13 of the top 20 fastest
growing targets being financial organisations.

Banks accounted for 55 percent of these.

David Warburton, F5 Networks Information Security Threat Researcher, projected attacks to continue because they were effective, especially during the (Northern Hemisphere) winter period.

“As organisations get better at web application security, it will be
easier for fraudsters to phish people than to find web exploits,”
Warburton said.

– CAJ News

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