Defeat the Breach Coalition Warns Cybercrime Is Gaining Momentum During Pandemic
Vigilance is critical; free resources available to help prepare, protect, prevail
(Lansing, Mich) - The unprecedented impacts of the coronavirus across our personal lives, work, communities, schools and economy have elevated cybersecurity threats to a new level, the Defeat the Breach Coalition notes. Particularly sobering is how quickly cybercriminals have leveraged the current uncertainty and turmoil in their efforts to defraud individuals and companies out of their sensitive data. That’s why the coalition urges awareness and vigilance.
Co-founded by Michigan-based firms Providence Consulting, Co, Truscott Rossman and Fraser-Trebilcock, Defeat The Breach is celebrating its one-year anniversary during Cybersecurity Awareness month. It is also warning businesses of all sizes to beware that cyber attackers - experiencing what could be likened to a gold rush – are fervently mining opportunities through phishing scams and searching for high-dollar payouts through destructive ransomware threats.
John Truscott, CEO and co-founder of Truscott Rossman, encourages everyone to take increasingly necessary steps to protect sensitive data.
“The time and investment you make today to secure company data and implement robust security protocols can be critical,” says Truscott. “Costs associated with attempting to repair customer trust and your brand reputation in the days, months and years following an attack can be far more challenging and costly in comparison.”
Over the past year, cybercrime has gained momentum during the pandemic with data breaches growing not just in frequency but in intensity. In April, the Federal Bureau of Investigation reported cybercrime had nearly quadrupled during the early phases of the pandemic.
Evaluating company risk is crucial to protecting data from getting into the wrong hands. The most common attack strategies continue to be email phishing scams and hidden malware attacks. Amidst the COVID-19 pandemic, companies and individuals have been increasingly targeted through remote working vulnerabilities and fraudulent links.
Jeff Dettloff, Founder and President of Providence Consulting, Co. warns,
“Cybercrime is relentless and shows no signs of diminishing. Protecting vital assets is a shared responsibility. We ALL have to do our part #BeCyberSmart.”
Those who work in the cybercrime industry usually have one overarching goal - to steal personal and financial information that can be leveraged for ransom or sold for profit. The costs associated with a successful attack can include lost revenue due to interruptions in business operations, contract defaults, attorney and court fees and fines imposed by regulating agencies, in addition to the loss of reputation and credibility.
Thad Morgan, a Fraser Trebilcock attorney encourages businesses,
“to invest up front to enhance data security, protect against cyberattacks and to harness resources and collaborate with organizations that can help prevent malicious attacks from occurring.”
In April, Defeat the Breach became an international movement in its efforts to raise awareness of cybersecurity protections when DFI Forensics joined the Coalition as an affiliate member. A digital forensics firm headquartered in Vancouver, BC, DFI adds an important element to the DTB initiative. Since joining the DTB Coalition, Tyler Hatch, founder & CEO, teamed up with Providence Consulting to create a video series entitled #HackerTracker. In each video, the duo breaks down a recent cyberattack and offers perspective on what it means to the business sector.
“We are thrilled to be a part of Defeat the Breach, whose sole purpose is to provide tangible, meaningful resources to others in order to fight back against the cybercriminals. The Defeat the Breach coalition takes a multifaceted approach to the problem, and people can find all the important pieces in one place,” says Hatch.