The impact Covid19 has had on cybercrime (3 min read)

Michael Tanaka, COO

covid 19 virus

In today’s blog we analyse the impact the pandemic has had on cybercrime and why now is the time to ensure your systems are as effective as they can be to minimise risk of attack to you and your clients

Cyber attacks, globally, have risen during the Coronavirus pandemic – cybercriminals exploiting the new WFH normal and heavier reliance of digital across the globe, and across demographics.

Video conferencing has kept conversational contact alive – whether that’s socially or with business and the ever reliance of online shopping has alleviated some of the limitations of life under lockdown.

However, as with previous crises, the cyber criminals have equally found this new normal the perfect opportunity to attack and infiltrate organisations with carefully crafted scams and phishing attacks. They extract personal information from their victim for damage elsewhere, or con them directly out of money for services they don’t want or need, or products that just never arrive.

Amid the Covid 19 pandemic cyber attacks against the financial sector rose by 238% - which is little surprise. But it does beg the question – how safe are your systems? What verification do your employees or your customers use to access your accounts? Is it vulnerable to attack and what can you do to minimise risk?

MIRACL Trust® is the world’s only 100% software, multi-factor authentication – using zero knowledge proof this highly secure process for authentication requires no personal user data to be either stored or sent for activation. It uses a simple 4-6 digit PIN for access so it’s easy to use too.

With no database associated with MIRACL Trust® there is no risk of credential stuffing, man-in-the-middle or phishing attack. So cybercriminals exploiting vulnerabilities have no chance with MIRACL Trust® in place. In fact 98% of data breaches could be prevented if MIRACL Trust was in place.

Although the very latest reports indicate that Covid-related scams are now on the decrease with a global recession looming, cybercrime looks set to climb further still. Is your customers data protected? And is your organisation operating as safely as it could? Could an improvement in your authentication processes protect your business from the financial and brand issues an uninvited cyber attack could bring?

If cyber security isn’t yet high on your strategic agenda, it will be very soon.

Find out more about MIRACL’s highly secure online authentication by visiting www.miracl.com or follow on social media: Twitter @MIRACL | LinkedIn MIRACL

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