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2024 Trends: The Growing Brazenness of Cybercriminals

2024 Trends: The Growing Brazenness of Cybercriminals

As we look to the future, it’s vital to be cognizant of just how much more brazen and outright ruthless cybercriminals are becoming. Some online criminal rings have taken to shutting down hospitals with ransomware attacks, knowing full well that they can cause a loss of life which will force the hospital system to pay up or deal with the profound repercussions. In another brazen development, a trend has emerged where cybercriminal groups are reporting their business victims to the Security Exchange Commission (SEC) and revealing that their victims are “non-compliant” as a direct result of their break-in. The roots of this development lie in a new SEC rule that requires financial services companies to report when they have experienced a breach. In these instances, if the breached business is slow in addressing the attackers’ demands and paying the ransom, the cybercriminals then report the victim to the SEC, kickstarting a painful notification process adding bureaucratic insult to injury.

Making matters worse, it is well known that if victimized businesses refuse to pay a ransom, there is a strong likelihood that their stolen data will then be auctioned off on the dark web to maximize the financial take and shame the beleaguered organization. In the face of these escalating stakes, public institutions, private organizations, and individuals must all take collective steps to actively defend ourselves and prioritize cybersecurity in 2024 and beyond.

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