E-Business
Hackers Increasingly Target Social Media Users in Data Theft
Social media platforms are quickly turning into a primary security weak point for businesses, with social media data breaches accounting for 41% of all leaked records across the globe in 2021.
This is according to a report compiled by private browsing solutions firm Atlas VPN. The data gives insight into the scope of social media-related data breaches globally.
The report is based on various sources, including the 2022 ForgeRock Consumer Identity Breach Report, the 2021 Identity Theft Resource Centre, IBM Ponemon Institute research and Forrester Research.
It notes that social media platforms remain the easiest way for hackers to gain access to firms’ data, with a single data breach incident within one of the major social media networks potentially resulting in millions of records being stolen from an organisation.
Atlas VPN says within the past few years, it has observed multiple large-scale data breaches involving companies like Facebook and Twitter.
By sector, social media accounted for the highest number of data breach incidents, followed by retail, which saw 24% of records leaked last year. The technology sector came third, with 4% of leaked records, and the healthcare sector was the fourth largest, with 1% of leaked records.
The category classified as “other sectors” accounted for 42% of breached records.
People who over-share their data on social media make it simple for criminals to locate personal information that aids in company breaches, notes the report.
Criminals can prey on business clients by posing as the company, in order to obtain credentials. This is becoming especially prevalent since companies increasingly use social networks to communicate with customers, it explains.
“Fraudsters also frequently attempt to infiltrate businesses by leveraging mutual connections, which creates a false sense of security.”
The fast growth and massive following by social media users provide increasing opportunity for hackers.
Meanwhile, a survey conducted by Censuswide on behalf of ProtonVPN found the personal information of 42% of respondents had been leaked, as a result of a social media-related data breach.
According to security firm Netacea, social media is increasingly becoming a point of vulnerability for many businesses across the globe, as hackers stop at nothing to steal user data, which is then used to create detailed profiles of potential victims to conduct targeted phishing attacks.
Atlas VPN also points out retail data breaches increased in frequency and severity during the course of 2021 – propelled by the huge uptake in e-commerce sales.
“While the average cost of a retail breach was $2.01 million in 2020, it increased by 63% to $3.27 million in 2021. When the enormous volumes of personal data that retail websites collect are not adequately protected, it creates the ideal environment for breaches and subsequent fraud,” says Edward G, cyber security researcher and publisher at Atlas VPN.
“Customer credit card, payment information and personal data were the principal targets of retail data breaches.”
E-commerce websites and applications sometimes skip security precautions, like two-factor authentication, as they seek a simple user experience, he adds.
While the global healthcare sector only accounts for 1% of leaked records, the information leaked is usually particularly sensitive.
“Data compromised from healthcare institutions tends to include name, address, SSN, date of birth, and, in two-thirds of the breaches, actual medical history information,” says Atlas VPN.
In response to Nigeria’s epileptic power supply and the need for a cost-effective back-up, TD Africa, the authorised distributor of Mercury Inverters on the continent, is encouraging Nigerians to take control of their power needs with a discounted offer on all Mercury inverters.
This offer will not only reduce overdependence on the exorbitant fuel-powered generating option widely used, but also offer a seamless and uninterrupted power supply while cutting operational cost by more than 50%.
“Mercury Inverters are a game-changer for Nigerians seeking to overcome the challenges of frequent power outages,” said Toyin Adeniji, TD Africa’s Business Manager for Mercury Inverters.
According to her, the inverters exceptional performance, durability, and affordability, makes it a reliable and sustainable solution that can enhance both personal and business productivity.
TD Africa’s move to discount these Inverters will make the product accessible to more Nigerians, providing an affordable and reliable power backup option that promises to improve the overall quality of life for individuals and businesses.
The inverters which come in 10KVA and 7.5KVA with a 120V, also contribute to environmental sustainability by minimizing carbon emissions.
While this discounted offer is for a limited time, how to take advantage of this offer can be obtained at [email protected].
Federal government has granted the Institute of Information Management permission to conduct examinations and certify data protection specialists on a local level.
As the demand for data management grows throughout Africa, Nigeria’s Federal Ministry of Youth Development has signed a Memorandum of Understanding (MoU) with the Nigeria Data Protection Commission (NDPC) to train 5,000 Nigerian youths to become data protection specialists.
The agreement is part of the NDPC’s ambition to create 10,123 data management related jobs in Nigeria.
Dr. Vincent Olatunji, CEO of the NDPC, stressed the growing demand for data protection officers in Nigeria during the signing event.
He stated that there are a large number of data controllers in the country, each of which must have at least one data protection officer.
According to the government, young people can now pursue data management careers and fill expected new roles in the ecosystem.
Olatunji also stated that the NDPC has granted the Institute of Information Management permission to conduct examinations and certify data protection specialists on a local level.
He stated that the goal of this move is to improve local knowledge while also reducing the foreign exchange expenses connected with international training.
“In addition, the certification provided by our in-country body will carry global recognition, ensuring our professionals are competitive on the international stage,” he explained.
At the end of August, Kaspersky experts discovered a phishing campaign with an unusual attack vector – through an image. This scam targeted organisations in the fields of online retail, distribution, transportation, and logistics. The cyber attackers aimed to steal corporate email credentials from potential victims.
Within the phishing scheme, the cyber attackers send emails in English, allegedly on behalf of a South Korean company. Pretending to be employees of this organisation, the cybercriminals email about sending instructions to their bank for transferring a payment.
They ask potential victims to check the details in the scanned document, which is added to the body of the letter. According to the legend, this must be done quickly in order to receive payment as soon as possible.
“The image in these phishing emails is poorly visible – this is what the attackers are counting on. Even if a person does not expect an email, he may be interested in looking at the details. However, in reality, the image hides a phishing link.
If the users click on the scan, they will be redirected to a fake resource that mimics a file sharing service from Adobe. There, they will be asked to enter the credentials for a corporate email account to gain access to the document.
However, this should never be done, otherwise this information will go to the cybercriminals,” comments Roman Dedenok, a cybersecurity expert at Kaspersky.
To avoid becoming a victim of such phishing attacks, Kaspersky recommends that users do not trust emails from unknown mailboxes, especially when it comes to confidential data, financial transactions and suspicious attachments, even if it visually looks like the email came from an organisation with a good reputation.
Kaspersky also recommends that companies install a reliable security solution that will automatically send such emails to spam, such as Kaspersky Secure Mail Gateway, and also regularly conduct cybersecurity training for employees, teaching them how to recognise social engineering techniques, for example, using the Kaspersky Automated Security Awareness Platform.
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