Cyber attacks are on the rise

Cyber attacks are more extensive as the criminal element moves in

Security ManualCyber attacks and threats to networks and enterprise data are not going away. Risk is always with us, but the focus on security has expanded from physical security to cyber security.

The type and sophistication of cyber attacks  are shifting and so are the people launching the attacks.Order Security ManualTable of Contents

Initially cyber attacks started out with individuals infecting computer networks with viruses, but now the criminal element is involved. In 2011 there was an increase in denial-of-service attacks by hacktivists, like Anonymous, and, more recently, foreign-based cyber criminals have targeted automated clearing house (ACH) transfers and used diversionary denial-of-service (DoS) to attempt account takeovers.

Over the past five years there have been some big changes. There are websites where you can buy the tools you need. In fact, users can purchase 100,000 fraudulent bank cards that are guaranteed to work.

Security ManualThe targets are not limited to the United States, online fraud attempts have jumped significantly in Europe and Asia as well.

Just as banks continue to be targets for criminals looking for big scores, the crooks are not deterred when some tighten their defenses. They just move on to other banks. And just as bank robbers of the past were reticent to give up techniques that worked, today’s thieves are reluctant to develop new tools.

The Zeus family of malware is still the gold standard, a trojan horse botnet that came to light in 2007.

Author: Victor Janulaitis

M. Victor Janulaitis is the CEO of Janco Associates. He has taught at the USC Graduate School of Business, been a guest lecturer at the UCLA's Anderson School of Business, a Graduate School at Harvard University, and several other universities in various programs.