In just a few years, the internet has taken over the world. Permeating every aspect of our lives from work, financial services, to even friendships, it’s a tool that has enabled humanity to advance in ways that we never thought would ever be possible.
Unfortunately, the internet isn’t all sunshine and roses. There are plenty of people who have decided to use it for nefarious means instead. Using malware, hackers invade user privacy, ruin online experiences, and put people and businesses at risk. If you’re curious about what malware actually is, keep reading.
What is Malware?
Malware is short for malicious software, an encompassing term for the various software designed to infiltrate networks and devices that it should not have access to and cause damage to data or systems.
According to the 2020 Cyber Threat Report by Deep Instinct, malware attacks increased by 358% overall in 2020. As companies accelerated the digital transformation due to the pandemic, double extortion tactics through ransomware also increased by 435%.
In general, malware consists of code created by developers with malicious intent. Using this intrusive software, cyberattackers perform a variety of actions such as stealing, encrypting, or accessing sensitive data.
Malware can also be used to hijack core computing functions, which leads infected computers to behave abnormally. For example, malware can be used to make computers act like remote devices or mine cryptocurrency. Not only does this put your device at risk for fraudulent activities, but it also inhibits your computer from functioning optimally.
Depending on the type of malware, different users will experience different effects. However, all types of malware should be avoided at all costs. When it comes to malware, a small vulnerability can become a threatening one in a snap.
For this reason, it is always good to know what you are up against and how to protect yourself from hackers who want to take advantage of you. So, what are the different types and malware, and what can you do to avoid them?
Spyware
Spyware is a form of malware that acts as a method of surveillance that is designed to track information such as browsing habits and activities. Spyware works to harvest information that can help give it access to your financial accounts, such as passwords or verifying documents like IDs or passports.
According to the Economic Times, one of the most popular uses of spyware are keyloggers. Keyloggers record keystrokes that record passwords, credit card details, and so on. Aside from being used as malware, businesses also install spyware on company devices to track employee activity to avoid corporate espionage or theft.
Adware
Similar to spyware, adware also gathers data on you without your consent. However, its goal is not purely to access personally identifiable information. Used to redirect you to advertising sites, adware manipulates your browser settings to allow notifications or change your search settings.
Bear in mind that not all adware is malware. Many modern digital marketing tactics rely on similar tracking technology to be able to serve you relevant ads across different platforms. However, the primary difference is the consent you give to be tracked and amount of data that these companies have access to.
Ransomware
Among the different types of malware, ransomware is often the most popular because of how dangerous it is. Ransomware holds captive important data through encryption and access restriction in exchange for payment. Often, ransomware is a concern for large companies with access to millions of customer information such as addresses and credit card details.
According to Cybersecurity Ventures, a new ransomware attack occurs every 11 seconds. In fact, it’s even believed that ransomware attacks will cost the world up to $10.5 Trillion by 2025. Included in these projections are the cost of the destruction of data, intellectual property theft, and loss of productivity.
How to Keep Your Device Free of Malware
To keep malware off your devices, you need to cover all the possible bases wherein it could penetrate your computer. To achieve this, you must establish and follow good internet safety practices.
Good internet safety practices include but are not limited to avoiding opening email attachments from questionable sources, logging into unsafe Wi-Fi networks, and downloading pirated software. In fact, even if a software is legitimate, it is still good practice to disable any permissions to access your device more than what is necessary for it to work.
When it comes to browsing, avoid clicking dodgy links, giving permission to websites to track you, and downloading old plug-ins. Many hackers make use of vulnerabilities from apps, plug-ins, and websites that are not updated to gain access to your computer.
Aside from this, you should also be careful of the hardware that has come into contact with other computers. When using a USB on devices you don’t own, make sure to scan for malware before attempting to use it on your device.
Protect Yourself from Malware Today
When it comes to protecting your Mac from malware, it is a full-time job. Besides investing in software to help scan your device for malware regularly, you should never let your guard down when it comes to browsing the internet, downloading files, or installing software.
Remember, you are only as safe as your weakest security practice. By monitoring your devices and doing regular checks for malware, you can keep yourself and your data safe from cyberattacks of any form.
Online Threat Alerts Security Tips
Pay the safest way
Credit cards are the safest way to pay for online purchases because you can dispute the charges if you never get the goods or services or if the offer was misrepresented. Federal law limits your liability to $50 if someone makes unauthorized charges to your account, and most credit card issuers will remove them completely if you report the problem promptly.
Guard your personal information
In any transaction you conduct, make sure to check with your state or local consumer protection agency and the Better Business Bureau (BBB) to see if the seller, charity, company, or organization is credible. Be especially wary if the entity is unfamiliar to you. Always call the number found on a website’s contact information to make sure the number legitimately belongs to the entity you are dealing with.
Be careful of the information you share
Never give out your codes, passwords or personal information, unless you are sure of who you're dealing with
Know who you’re dealing with
Crooks pretending to be from companies you do business with may call or send an email, claiming they need to verify your personal information. Don’t provide your credit card or bank account number unless you are actually paying for something and know who you are sending payment to. Your social security number should not be necessary unless you are applying for credit. Be especially suspicious if someone claiming to be from a company with whom you have an account asks for information that the business already has.
Check your accounts
Regularly check your account transactions and report any suspicious or unauthorised transactions.
Don’t believe promises of easy money
If someone claims that you can earn money with little or no work, get a loan or credit card even if you have bad credit, or make money on an investment with little or no risk, it’s probably a scam. Oftentimes, offers that seem too good to be true, actually are too good to be true.
Do not open email from people you don’t know
If you are unsure whether an email you received is legitimate, try contacting the sender directly via other means. Do not click on any links in an email unless you are sure it is safe.
Think before you click
If an email or text message looks suspicious, don’t open any attachments or click on the links.
Verify urgent requests or unsolicited emails, messages or phone calls before you respond
If you receive a message or a phone call asking for immediate action and don't know the sender, it could be a phishing message.
Be careful with links and new website addresses
Malicious website addresses may appear almost identical to legitimate sites. Scammers often use a slight variation in spelling or logo to lure you. Malicious links can also come from friends whose email has unknowingly been compromised, so be careful.
Secure your personal information
Before providing any personal information, such as your date of birth, Social Security number, account numbers, and passwords, be sure the website is secure.
Stay informed on the latest cyber threats
Keep yourself up to date on current scams by visiting this website daily.
Use Strong Passwords
Strong passwords are critical to online security.
Keep your software up to date and maintain preventative software programs
Keep all of your software applications up to date on your computers and mobile devices. Install software that provides antivirus, firewall, and email filter services.
Update the operating systems on your electronic devices
Make sure your operating systems (OSs) and applications are up to date on all of your electronic devices. Older and unpatched versions of OSs and software are the target of many hacks. Read the CISA security tip on Understanding Patches and Software Updates for more information.
What if You Got Scammed?
Stop Contact With The Scammer
Hang up the phone. Do not reply to emails, messages, or letters that the scammer sends. Do not make any more payments to the scammer. Beware of additional scammers who may contact you claiming they can help you get your lost money back.
Secure Your Finances
- Report potentially compromised bank account, credit or debit card information to your financial institution(s) immediately. They may be able to cancel or reverse fraudulent transactions.
- Notify the three major credit bureaus. They can add a fraud alert to warn potential credit grantors that you may be a victim of identity theft. You may also want to consider placing a free security freeze on your credit report. Doing so prevents lenders and others from accessing your credit report entirely, which will prevent them from extending credit:
- Equifax
- Experian
- TransUnion
Check Your Computer
If your computer was accessed or otherwise affected by a scam, check to make sure that your anti-virus is up-to-date and running and that your system is free of malware and keylogging software. You may also need to seek the help of a computer repair company. Consider utilizing the Better Business Bureau’s website to find a reputable company.
Change Your Account Passwords
Update your bank, credit card, social media, and email account passwords to try to limit further unauthorized access. Make sure to choose strong passwords when changing account passwords.
Report The Scam
Reporting helps protect others. While agencies can’t always track down perpetrators of crimes against scammers, they can utilize the information gathered to record patterns of abuse which may lead to action being taken against a company or industry.
Report your issue to the following agencies based on the nature of the scam:
- Local Law Enforcement: Consumers are encouraged to report scams to their local police department or sheriff’s office, especially if you lost money or property or had your identity compromised.
- Federal Trade Commission: Contact the Federal Trade Commission (FTC) at 1-877-FTC-HELP (1-877-382-4357) or use the Online Complaint Assistant to report various types of fraud, including counterfeit checks, lottery or sweepstakes scams, and more.
- Identitytheft.gov: If someone is using your personal information, like your Social Security, credit card, or bank account number, to open new accounts, make purchases, or get a tax refund, report it at www.identitytheft.gov. This federal government site will also help you create your Identity Theft Report and a personal recovery plan based on your situation. Questions can be directed to 877-ID THEFT.
How To Recognize a Phishing Scam
Scammers use email or text messages to try to steal your passwords, account numbers, or Social Security numbers. If they get that information, they could get access to your email, bank, or other accounts. Or they could sell your information to other scammers. Scammers launch thousands of phishing attacks like these every day — and they’re often successful.
Scammers often update their tactics to keep up with the latest news or trends, but here are some common tactics used in phishing emails or text messages:
Phishing emails and text messages often tell a story to trick you into clicking on a link or opening an attachment. You might get an unexpected email or text message that looks like it’s from a company you know or trust, like a bank or a credit card or utility company. Or maybe it’s from an online payment website or app. The message could be from a scammer, who might
- say they’ve noticed some suspicious activity or log-in attempts — they haven’t
- claim there’s a problem with your account or your payment information — there isn’t
- say you need to confirm some personal or financial information — you don’t
- include an invoice you don’t recognize — it’s fake
- want you to click on a link to make a payment — but the link has malware
- say you’re eligible to register for a government refund — it’s a scam
- offer a coupon for free stuff — it’s not real
About Online Threat Alerts (OTA)
Online Threat Alerts or OTA is an anti-cybercrime community that started in 2012. OTA alerts the public to cyber crimes and other web threats.
By alerting the public, we have prevented a lot of online users from getting scammed or becoming victims of cybercrimes.
With the ever-increasing number of people going online, it important to have a community like OTA that continuously alerts or protects those same people from cyber-criminals, scammers and hackers, who are every day finding new ways of carrying out their malicious activities.
Online users can help by reporting suspicious or malicious messages or websites to OTA. And, if they want to determine if a message or website is a threat or scam, they can use OTA's search engine to search for the website or parts of the message for information.
Help maintain Online Threat Alerts (OTA).