How cybercriminals can make money from your data

Think your data is insignificant? Think again

Diligent attention to your personal and business cyber-security is essential as the technological revolution blazes forward. Many individuals and business owners, however, are unaware of the gravity a cyber-security breach can have on operations. Those that are aware, generally hold the opinion that their data is safe from attack. This rings especially true for personal users and Small Business Enterprise owners, who tend to assume cyber-attacks are solely matters for larger corporations. Unfortunately, this is not the case. Incidents of cyber-crime are rapidly on the rise, and no one individual or enterprise is immune to attack.

Read how and why you should protect your business from cyber-attack

When it comes to understanding the motives of hackers/cyber-criminals and identifying key areas to concentrate security measures, knowledge of why and how they can use your data can help.

This article lists just a few ways that your data can be monetised.

In general, the first thing that springs to mind when the word hacker is mentioned is bank and credit card details. There is, however, a wealth of other personal data that can be just as lucrative for cyber miscreants. The following are examples of misuse of data that can be turned into financial gain.

Personal health data

This data when hacked offers huge financial potential by utilizing healthcare records for ransom, insurance fraud and identity theft.

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Email and Social Media

Accounts can be hacked in attempt to spread malware and gain access to connections and other online accounts.

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Hackers can gain total control of operations and files on your PC, laptop and phone. Ratter is the term given to a hacker that can gain remote access to your machine by using a Remote Administration Tool (RAT). Probably  one of the most sinister scams, personal lives can be invaded, videos and soundbites can be traded online for money or victims may become subjects of extortion. Many IT experts advise placing a sticker over the camera of your device, a trick even Mark Zuckerberg, CEO and founder of Facebook, has admitted to using.

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Hackers can infect and control multiple devices using Botnets, comparable to the ratter but on a much larger scale. The hacker can gain access to your device’s sensitive information, upload other malware, and force your device to participate in malicious schemes. Ransomware, extortion and financial fraud are just some of the ways botnets can impact users, however, hackers can also profit by renting out infected devices to other hackers.

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A good Antivirus software can help detect malicious bugs on your devices we recommend Avast antivirus software for business users click here
User error plays a huge role in the spread of malware, it is important use strong passwords to protect your data and to take the precautionary principal when it comes to clicking on unknown links or attachments.
If you have any queries regarding IT security for your business get in touch with our expert consultants at solveit


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