5 Types of Cybercrimes and How to Prevent Them?

In 2023, there was a 15% increase in the global average cost of a data breach, reaching USD 4.45 million. It’s also unfortunate to find out that only 51% of organizations are planning to ramp up cybersecurity investments. Malicious actors are always on their hunt to find and pin down new targets, and we wonder for how long businesses with no cybersecurity prevention methods in place can survive.

5 Types of Cybercrimes and How to Prevent Them?

We believe it’s never too late to start. So, here we are sharing 5 common types of cybercrimes and methods to prevent them in 2024.

5 Cybercrimes to Be Wary of

Cybercrime is evolving, and the relatively less-secured remote work culture and insider threats have added to the misery. It’s becoming easier for hackers to bypass weak security systems, access devices, steal or intercept details, send phishing emails, etc.

So, here’s what you need to be worrisome of-

Phishing

In phishing, threat actors try to deceive targets into sharing sensitive information like login credentials, financial details, medical reports, etc., that hackers either themselves exploit to make money or sell them on the dark web or to competitors and rivals.

Phishers use social engineering skills to manipulate the trust that users have in familiar people. They may pose as colleagues, friends, or authority figures to gain credibility and increase the likelihood of a successful attack. Phishing communication can take place through emails, phone -calls, SMS, social media chats, etc. These days, the trend of WhatsApp-based phishing calls and messages is on the rise. Fake employers, pretending to be from the US, communicate on the pretext of fake job offers to deceive users into sharing personal details.

Moreover, cyber actors have also started leveraging Generative AI’s capabilities to produce convincing emails and documents, without grammatical, spelling, or translation errors, that are actually considered red flags or signs of phishing attacks.

Prevention From Phishing

  • Use email filtering and anti-phishing tools to analyze incoming emails for malicious content and links and block them.
  • Enable multi-factor authentication for all accounts, especially those containing sensitive information to add a layer of security by necessitating users to provide multiple forms of identification.
  • Keep all software and devices updated and patched, as outdated technology is one of the easily exploitable vulnerabilities.
  • Practice yourself and encourage your employees to confirm unusual or unexpected requests before proceeding.
  • Use email filtering solutions to identify and block malicious emails, reducing the likelihood of users falling victim to phishing attacks.
  • Implement DMARC: DMARC (Domain-based Message Authentication, Reporting & Conformance) is an email authentication protocol that helps protect your domain from unauthorized use in email spoofing attacks. By implementing DMARC with the help of a DMARC MSP (Managed Service Provider), you can receive reports on how well your emails are authenticated and take steps to improve your email security posture.

Ransomware

In a ransomware attack, malicious actors gain unauthorized access to a victim’s system to encrypt data or devices and demand a ransom payment in exchange for restoring access. They threaten victims to permanently delete data or make it public if they don’t pay the demanded amount within time.

These days, they have started demanding ransom in cryptocurrency to avoid the chances of getting tracked down. They instruct victims on how to transfer the funds to their digital wallets.

However, there’s no guarantee that victims will get all the data back or that the threat actors will not make copies. That’s why law enforcement agencies and cybersecurity experts discourage paying ransoms, as it doesn’t guarantee the prevention of future attacks.

Prevention From Ransomware

  • Have automated backup processes in place.
  • Periodically test data restoration to ensure the backup systems are working properly.
  • Use network segmentation to hide key systems and data from the rest of the network.
  • Use application allowlisting to permit only approved applications to run on your devices, disallowing unauthorized or malicious programs to crawl on your systems.

Distributed Denial-Of-Service (DDoS) Attacks

Hackers involve multiple machineries to attempt DDoS attacks to overwhelm a targeted system with internet traffic, causing it to crash down temporarily or permanently. Their aim is to make an online service inaccessible for a specific time. Ideology, political agendas, business feuds, cyber warfare, and extortion mainly drive DDoS attackers.

Although, sometimes, hackers don’t attempt DDoS attacks with any of these agendas; we are talking about amateur or would-be hackers who use prewritten scripts for ‘learning.’

Three main types of DDoS attacks are;

  • Volume-Based: Bad actors overwhelm the bandwidth of the targeted site, and its scale is quantified in terms of bits per second (Bps).
  • Protocol Attacks: Protocol DDoS attacks consume server resources such as communication equipment, firewalls, load balancers, etc.
  • Application Layer Attacks: In this type, the incoming requests look legitimate, but are actually sent to crash the web server.

NETSCOUT, a network performance and security company, revealed in its DDoS Threat Intelligence Report: Issue 11 that approximately 7.9 million DDoS attacks were launched in the first half of 2023, representing a 31% year-over-year increase. Global events like the Russia-Ukraine war and NATO bids triggered this growth, thus underlining the necessity of preventive methods in place.

Prevention From Distributed Denial-Of-Service (DDoS) Attacks

  • Deploy a cloud-based DDoS protection service, firewall, intrusion detection and prevention systems, and load balancers that filter malicious traffic so that only legitimate traffic reaches your network.
  • Use the Anycast DNS routing method to distribute requests across servers so that a single server is not overloaded.
  • Implement rate-limiting and filtering mechanisms on your network devices to restrict the volume of incoming requests, mitigating the impact of DDoS attacks by controlling the rate at which traffic is processed and preventing the saturation of network resources.

Malware Injection

Undoubtedly, malware is one of the easiest and most common attack vectors to hit systems with. They are fast, efficient, and simple to manage for hackers. Malware injection means forcibly inserting malware into a software, device, program, website, or web browser for stealing or intercepting data, proxy cryptocurrency mining, remote access to cameras, microphones, etc., encrypting data for ransom, and disrupting operations.

Common malware attack vectors are virus, Trojan Horse, spyware, adware, worm, rootkit, ransomware, keylogger, botnet, and logic bomb.

Prevention From Malware Injection

  • Ensure you have validated and sanitized all user inputs before you process them so that input fields accept only prespecified data types and lengths.
  • Use parameterized statements or prepared statements in database queries so that the system manages the input details as just data and not executable codes.
  • Use content security policy headers or CSPs in web applications to specify the sources from which the browser is limited to load content.

Man-in-the-Middle (MiTM) Attacks

An MiTM attack occurs when an adversary virtually positions themselves in a conversation between two users or systems to eavesdrop on or impersonate one of the entities without tipping off anyone. They obtain or modify information for identity theft or approving illegitimate fund transfers.

Common methods used in Man-in-the-Middle attacks include:

  • Packet Sniffing: Intercepting and analyzing network traffic to capture sensitive information.
  • DNS Spoofing: Redirecting domain name resolution requests to malicious servers, leading users to fake websites.
  • Wi-Fi Eavesdropping: Monitoring and intercepting data transmitted over unsecured Wi-Fi networks.
  • Session Hijacking: Taking control of an established session, often through session token theft or session fixation.

Prevention From MiTM Attacks

  • Implement end-to-end encryption for data in transit.
  • Use public key infrastructure or PKI to manage and protect digital keys as they verify the parties communicating.
  • Use WPA3 (Wi-Fi Protected Access 3) for Wi-Fi networks, as it provides stronger security compared to older protocols. Additionally, strong and unique passwords for Wi-Fi access points should be used to prevent unauthorized access.
  • Avoid using public networks, especially for matters involving accessing and exchanging sensitive details. In case of emergencies, use a VPN to secure your connection when using public networks.

End Note

Cybercrimes are not expected to come down anytime soon; thus, a combination of cybersecurity strategies and a watchful or vigilant mindset is what you need on the floor. Consider implementing DMARC for comprehensive email security; services like PowerDMARC can simplify the process. Moreover, you can’t overlook the fact that humans are the weakest link in cybersecurity as they are susceptible to social engineering; it’s easier to fool and ‘hack’ people than technology. So, pay attention to employee training and conduct regular unannounced mock drills to keep them on their toes!

We believe it’s never too late to start. So, here we are sharing 5 common types of cybercrimes and methods to prevent them in 2024.

5 Cybercrimes to Be Wary of

Cybercrime is evolving, and the relatively less-secured remote work culture and insider threats have added to the misery. It’s becoming easier for hackers to bypass weak security systems, access devices, steal or intercept details, send phishing emails, etc.

So, here’s what you need to be worrisome of-

Phishing

In phishing, threat actors try to deceive targets into sharing sensitive information like login credentials, financial details, medical reports, etc., that hackers either themselves exploit to make money or sell them on the dark web or to competitors and rivals.

Phishers use social engineering skills to manipulate the trust that users have in familiar people. They may pose as colleagues, friends, or authority figures to gain credibility and increase the likelihood of a successful attack. Phishing communication can take place through emails, phone -calls, SMS, social media chats, etc. These days, the trend of WhatsApp-based phishing calls and messages is on the rise. Fake employers, pretending to be from the US, communicate on the pretext of fake job offers to deceive users into sharing personal details.

Moreover, cyber actors have also started leveraging Generative AI’s capabilities to produce convincing emails and documents, without grammatical, spelling, or translation errors, that are actually considered red flags or signs of phishing attacks.

Prevention From Phishing

  • Use email filtering and anti-phishing tools to analyze incoming emails for malicious content and links and block them.
  • Enable multi-factor authentication for all accounts, especially those containing sensitive information to add a layer of security by necessitating users to provide multiple forms of identification.
  • Keep all software and devices updated and patched, as outdated technology is one of the easily exploitable vulnerabilities.
  • Practice yourself and encourage your employees to confirm unusual or unexpected requests before proceeding.
  • Use email filtering solutions to identify and block malicious emails, reducing the likelihood of users falling victim to phishing attacks.
  • Implement DMARC: DMARC (Domain-based Message Authentication, Reporting & Conformance) is an email authentication protocol that helps protect your domain from unauthorized use in email spoofing attacks. By implementing DMARC with the help of a DMARC MSP (Managed Service Provider), you can receive reports on how well your emails are authenticated and take steps to improve your email security posture.

Ransomware

In a ransomware attack, malicious actors gain unauthorized access to a victim’s system to encrypt data or devices and demand a ransom payment in exchange for restoring access. They threaten victims to permanently delete data or make it public if they don’t pay the demanded amount within time.

These days, they have started demanding ransom in cryptocurrency to avoid the chances of getting tracked down. They instruct victims on how to transfer the funds to their digital wallets.

However, there’s no guarantee that victims will get all the data back or that the threat actors will not make copies. That’s why law enforcement agencies and cybersecurity experts discourage paying ransoms, as it doesn’t guarantee the prevention of future attacks.

Prevention From Ransomware

  • Have automated backup processes in place.
  • Periodically test data restoration to ensure the backup systems are working properly.
  • Use network segmentation to hide key systems and data from the rest of the network.
  • Use application allowlisting to permit only approved applications to run on your devices, disallowing unauthorized or malicious programs to crawl on your systems.

Distributed Denial-Of-Service (DDoS) Attacks

Hackers involve multiple machineries to attempt DDoS attacks to overwhelm a targeted system with internet traffic, causing it to crash down temporarily or permanently. Their aim is to make an online service inaccessible for a specific time. Ideology, political agendas, business feuds, cyber warfare, and extortion mainly drive DDoS attackers.

Although, sometimes, hackers don’t attempt DDoS attacks with any of these agendas; we are talking about amateur or would-be hackers who use prewritten scripts for ‘learning.’

Three main types of DDoS attacks are;

  • Volume-Based: Bad actors overwhelm the bandwidth of the targeted site, and its scale is quantified in terms of bits per second (Bps).
  • Protocol Attacks: Protocol DDoS attacks consume server resources such as communication equipment, firewalls, load balancers, etc.
  • Application Layer Attacks: In this type, the incoming requests look legitimate, but are actually sent to crash the web server.

NETSCOUT, a network performance and security company, revealed in its DDoS Threat Intelligence Report: Issue 11 that approximately 7.9 million DDoS attacks were launched in the first half of 2023, representing a 31% year-over-year increase. Global events like the Russia-Ukraine war and NATO bids triggered this growth, thus underlining the necessity of preventive methods in place.

Prevention From Distributed Denial-Of-Service (DDoS) Attacks

  • Deploy a cloud-based DDoS protection service, firewall, intrusion detection and prevention systems, and load balancers that filter malicious traffic so that only legitimate traffic reaches your network.
  • Use the Anycast DNS routing method to distribute requests across servers so that a single server is not overloaded.
  • Implement rate-limiting and filtering mechanisms on your network devices to restrict the volume of incoming requests, mitigating the impact of DDoS attacks by controlling the rate at which traffic is processed and preventing the saturation of network resources.

Malware Injection

Undoubtedly, malware is one of the easiest and most common attack vectors to hit systems with. They are fast, efficient, and simple to manage for hackers. Malware injection means forcibly inserting malware into a software, device, program, website, or web browser for stealing or intercepting data, proxy cryptocurrency mining, remote access to cameras, microphones, etc., encrypting data for ransom, and disrupting operations.

Common malware attack vectors are virus, Trojan Horse, spyware, adware, worm, rootkit, ransomware, keylogger, botnet, and logic bomb.

Prevention From Malware Injection

  • Ensure you have validated and sanitized all user inputs before you process them so that input fields accept only prespecified data types and lengths.
  • Use parameterized statements or prepared statements in database queries so that the system manages the input details as just data and not executable codes.
  • Use content security policy headers or CSPs in web applications to specify the sources from which the browser is limited to load content.

Man-in-the-Middle (MiTM) Attacks

An MiTM attack occurs when an adversary virtually positions themselves in a conversation between two users or systems to eavesdrop on or impersonate one of the entities without tipping off anyone. They obtain or modify information for identity theft or approving illegitimate fund transfers.

Common methods used in Man-in-the-Middle attacks include:

  • Packet Sniffing: Intercepting and analyzing network traffic to capture sensitive information.
  • DNS Spoofing: Redirecting domain name resolution requests to malicious servers, leading users to fake websites.
  • Wi-Fi Eavesdropping: Monitoring and intercepting data transmitted over unsecured Wi-Fi networks.
  • Session Hijacking: Taking control of an established session, often through session token theft or session fixation.

Prevention From MiTM Attacks

  • Implement end-to-end encryption for data in transit.
  • Use public key infrastructure or PKI to manage and protect digital keys as they verify the parties communicating.
  • Use WPA3 (Wi-Fi Protected Access 3) for Wi-Fi networks, as it provides stronger security compared to older protocols. Additionally, strong and unique passwords for Wi-Fi access points should be used to prevent unauthorized access.
  • Avoid using public networks, especially for matters involving accessing and exchanging sensitive details. In case of emergencies, use a VPN to secure your connection when using public networks.

End Note

Cybercrimes are not expected to come down anytime soon; thus, a combination of cybersecurity strategies and a watchful or vigilant mindset is what you need on the floor. Consider implementing DMARC for comprehensive email security; services like PowerDMARC can simplify the process. Moreover, you can’t overlook the fact that humans are the weakest link in cybersecurity as they are susceptible to social engineering; it’s easier to fool and ‘hack’ people than technology. So, pay attention to employee training and conduct regular unannounced mock drills to keep them on their toes!

Check the comment section below for additional information, share what you know, or ask a question about this article by leaving a comment below. And, to quickly find answers to your questions, use our search Search engine.

Note: Some of the information in samples on this website may have been impersonated or spoofed.

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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:

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).

5 Types of Cybercrimes and How to Prevent Them?