Cyber experts cannot stress enough on how rapidly the threat landscape of cyber security keeps changing and how important it is for companies to invest in security to stay ahead of the curve. Hackers are getting sophisticated and every year they figure out a new way to siphon off millions from the government, businesses, and consumers.
Last year, it was cryptojacking, defined as the secret use of a computing device to mine cryptocurrency. However, it seems due to falling value of cryptocurrencies, it is no longer a lucrative option for hackers as it used to be. In 2017, according to a report by cyber security giant Symantec, Cryptojacking attacks rose by a massive 8,500 per cent around the globe. But cryptojacking activity declined by 52 per cent throughout the course of 2018, reveals Syamntec's annual threat report.
The cyber criminals, however, have already found an alternative method. According to the report, Formjacking is the "new get rich quick scheme for cyber criminals".
"Formjacking attacks are simple - essentially virtual ATM skimming - where cyber criminals inject malicious code into retailers' websites to steal shoppers' payment card details," the report says.
"Symantec data shows that 4,818 unique websites were compromised with formjacking code every month in 2018. With data from a single credit card being sold for up to $45 on underground markets, just 10 credit cards stolen from compromised websites could result in a yield of up to $2.2 million for cyber criminals each month," it added.
According to the company, it blocked more than 3.7 million formjacking attacks on endpoints in 2018, with nearly a third of all detections occurring during the busiest online shopping period of the year - November and December.
The report also revealed that for the first time since 2013, ransomware infections declined, dropping by 20 per cent. However, it warned that enterprises should not let their guard down as enterprise ransomware infections jumped by 12 per cent in 2018 as compared to last year, bucking the overall downward trend and demonstrating ransomware's ongoing threat to organisations. In fact, more than eight in ten ransomware infections impact organisations, it added.
Here are some other interesting findings of the report: