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Top Sectors Prone To Cyber Threats During The Pandemic

When the coronavirus pandemic burst out, corporate functions shifted priorities to embrace new practices and get through the pandemic. At that time we all thought that social distancing and work from home routines would be just stopgap measures taken to keep businesses aboard.

However, as a remote job situation becomes the new normal for businesses across the world, it is time to face the truth. Rapid responses to the coronavirus pandemic have left organizations vulnerable to security breaches. As of May 2nd, the FBI reported an 800% increase in cyber crimes with COVID-themed malware being the absolute winners among all.

As time went by, CISOs pivoted from handling routine tasks and made all efforts to establish secure connections for newly-minted remote workforces. However, despite bolstering business operations, there are some business areas that have had it a lot harder than other industries in terms of cybersecurity.

With that being said, let us give you a rundown on the industries that have been kicked in the teeth by cybercriminals amid the COVID-19 lockdown.

Cyberattacks During The Pandemic

1. Healthcare

The pandemic has undermined the healthcare industry in too many ways, testing its limits. Besides complex issues like insufficient healthcare capacity and resourcing, the healthcare sector has become a target or collateral victim of cybersecurity attacks.

According to the INTERPOL report published in April 2020, there has been a worrying surge in cyber attacks targeting both public and private companies, including the healthcare sector. A cyber attack in a Czech hospital in March, a ransomware attack on a vaccine trial group in the UNK, and an attack on the US Health Agency are just a few examples that have revealed basic vulnerabilities which stakeholders have ignored to the surface.

2. Private sector

The pandemic has caused a spike in phishing and malware attacks riding on the COVID-19 pitch to aim for unwary users. The attackers have been quick to prey on the pandemic chaos and have been embedding all kinds of malware to decent-looking emails.

They masquerade malicious files as government announcements or associate the emails with the Centers for Disease Control (CDC) and the World Health Organization (WHO). So next time you’ll get an email with a subject line that sounds like ‘updated cases of the coronavirus near you’, think twice before opening this phishing postcard.

3. Banking

Banking is another target of choice for cyberattacks during the pandemic. Most financial institutions have gone digital several years ago to boost efficiency and embrace cutting-edge technology to improve their financial services. Little did they know that COVID-19 would make them re-engineer and trigger exposure to risks.

We are leaning on online banking so much that this dependence has created a breeding ground for numerous fraud cases. From hacking individual banking accounts to those of companies and even governments, there has been a ninefold increase in ransomware attacks. According to Carbon Black Inc, the financial sector alone experienced a 238% surge in attacks from February to the end of April. This has surely highlighted an Achilles heel in security of financial institutions, due to a lack of controls and the use of legacy systems.

4. E-commerce

Although most businesses have seen a reduced footfall this year, e-commerce and online shopping are rare success stories. COVID-19 has shaped the way people shop with an unprecedented amount of shoppers making purchases online. However, this has also put online retail at risk, creating a secondary issue. A report by Sophos Labs suggests that over 42,000 websites have been created with domains that are named after ‘COVID.’ As you can see, opportunistic cybercriminals ‘shop’ online as well.

Shield Yourself From Cyberattacks in Times of Pandemic

Most of the aforementioned incidents could have been avoided if we had left our security to chance. Despite significant cybersecurity exposures, we still believe that we’re in the clear. But even if you don’t have the resources to bring in an outside expert to test your computer systems, do your best to implement cybersecurity practices. You don’t need to go far - NordVPN is an iron-clad defense mechanism that won’t let your data get compromised. It’s an encryption powerhouse that will guard your cybersecurity well-being in these dire times. Most importantly, NordVPN ensures secure remote access to keep businesses, organizations and individuals productive at all times.

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The Bottom Line

The COVID pandemic presents a record-breaking challenge to the world in a bad way. While some people have shown courage and fortitude in the dark times, crime groups are exploiting the fear and uncertainty to target individuals and businesses. As threat campaigns become more sophisticated, businesses will need to practice robust cybersecurity hygiene to keep hackers at bay. A strong security posture and endurance are the needs of the hour. Stay safe and cyber secure. And don’t forget a mask.