Threat Management

Cybercrime shared economy on the rise, report finds

A BlackBerry report revealed that small to medium-sized businesses are being targeted by the expanding shared cybercriminal economy, with outsourced labor being the source of major ransomware attacks, according to TechRepublic. SMBs were discovered to have been targeted with 11 cybersecurity threats daily on average and 70% of SMBs have experienced cyberattacks, 60% of which were dissolved within half a year, said the report. Moreover, cybercrimes have also risen by 600% as a result of the COVID-19 pandemic, with new malware detections around the world totaling 667 million in 2020. The report also found that the growing number of digital attacks requires nearly four million more cybersecurity experts around the world. "The infrastructure of the cyber underground has evolved so they can deliver more timely and personalized deceptions to the public. This infrastructure has also incubated a criminal shared economy, with threat groups sharing and outsourcing malware allowing for attacks to happen at scale," said BlackBerry Vice President of Research and Intelligence.

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