Cybersecurity Post Pandemic Era

Every day there is a new company in the news experiencing ransomware or data breaches.

Most companies are oblivious to the cyberwar that’s being fought outside and inside their company. But it’s a matter of time before any company experiences a security incident.

Cybersecurity is a huge and growing concern in the world. Cybercriminals are always looking for new ways to steal data, identities, and money.  The opportunity for cybercriminals is getting bigger as consumers trade convenience for security and privacy. That’s right this applies to every human with a smartphone or connected device.

In this article, we will explore what you can do to protect yourself from cybercrime following the 2020 pandemic and how the 2020 Pandemic has changed human behavior for the worse.

IBM Surveyed 22,000 individuals in 22 markets to understand the current security mindset. The results are scary for any company that is trying to prevent a ransomware attack. 

The findings from the “IBM Security Consumer Survey” show that bad personal security habits may also carry over to the workplace and can lead to costly security incidents for companies, with compromised user credentials representing one of the top root sources of cyberattacks reported in 2020, according to IBM Security X-Force.

Millennials will expose your system are you prepared? 

More than half (51%) of millennials would rather place an order using a potentially insecure app or website rather than call or go to a physical location in person. As a result, the burden of security will likely fall more heavily on companies providing these services to avoid fraud.

Account blackholes open to unknown threats!

Respondents created 15 new online accounts during the pandemic on average, equating to billions of new accounts around the world, with 44% saying they do not plan to delete or deactivate the new accounts. These consumers will have an increased digital footprint for years to come, greatly expanding the attack surface for cybercriminals.

What’s worse is that your IT Team or Security team may not know these accounts exist. This exposes you to new threats for account compromise or unknown malicious insider attacks. It’s important for your IT and Security teams to understand all of the accounts used within your company. To monitor for new threats or provide alerts for when these third-party companies are compromised. 

Password Lazy Dance 

Among those surveyed, this surge in digital accounts led to lax password behaviors, with 82% of respondents admitting to reusing credentials at least some of the time. It means that many of the new accounts likely relied on reused email and password combinations, which may have already been exposed via data breaches over the past decade.

“The pandemic led to a surge in new online accounts, but society’s growing preference for digital convenience may come at a cost to security and data privacy,” said Charles Henderson, Global Managing Partner and Head of IBM Security X-Force.