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Cybercrimils targeting employees' wage and tax data: Verizon

Cybercrimils targeting employees wage and tax data: Verizon

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  11 April 2018 12:00 AM GMT

New Delhi, April 10: Ransomware has become the most prevalent type of malicious software — found in 39 per cent of malware-related cases — as cybercrimils are now targeting HR departments to obtain persol data for the filing of fraudulent tax returns, a new report said on Tuesday.

According to US wireless communications service provider Verizon’s 2018 Data Breach Investigations Report (DBIR), ransomware attacks have doubled since 2017 and now target business critical systems rather than just desktops.

“Pretexting has increased over five times since 2017, with 170 incidents alysed this year (compared to just 61 incidents in 2017). Eighty-eight of these incidents specifically targeted HR staff to obtain persol data for the filing of fraudulent tax returns,” the report, now in its 11th edition, said.

Pretexting is defined as the practice of presenting oneself as someone else in order to obtain private information.

“HR departments across multiple verticals are being targeted in a bid to extract employees’ wage and tax data, so crimils can commit tax fraud and divert tax rebates,” the report added.

The ransomeware attacks are moving into critical systems which encrypt file servers or databases, inflicting more damage and commanding bigger ransom requests.

“Businesses find it difficult to keep abreast of the threat landscape, and continue to put themselves at risk by not adopting dymic and proactive security strategies,” said George Fischer, President of Verizon Enterprise Solutions.

Fincial pretexting and phishing represent 98 per cent of social incidents and 93 per cent of all breaches investigated - with email continuing to be the main entry point (96 per cent of cases). “A cybercrimil only needs one victim to get access into an organisation,” the report said.

“Companies need to continue to invest in employee education about cybercrime and the detrimental effect a breach can have on brand, reputation and the bottom line,” said Bryan Sartin, Executive Director, Security Professiol Services, Verizon. (IANS)

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