Malware – The Potential Horrific Consequences

In the Kaspersky Security Bulletin it suggests Corporations are increasingly falling victim to Cybercrime, a whopping 91% of those surveyed by Kaspersky Lab and B2B International  fell victim to a cyber-attack at least once in the last 12 months. The top causes included Viruses, Malware, Spam and Phishing – in 2013 alone Kaspersky Lab products detected almost 3 billion malware attacks on user computers!

Spam and Phishing is certainly not a new concept but, the emails sent are becoming more sophisticated, they are adopting an appearance of something that the recipient is familiar with – appear like it is from a delivery company, social media, stores etc.

Spam can just be a simple form of electronic junk but, it can also be malicious spam with the purpose of either make money, obtain sensitive information or spread malicious codes – like CyptoLocker, which surfaced in 2013, it would encrypt the victim’s data and sell it back to them for monetary gains. It is a Trojan Ransomware distributed through a series of phishing campaigns. The emails imitated well-known delivery companies and financial institution preying, on our trust of these companies and our curiosity to see what the attachment is about. It effected over 12,000 victims within one week and to this day there are still stories of CyptoLocker causing chaos and victims paying to obtain decryption keys for their own data.

The sophistication of spam, malware and phishing attacks is not just limited to emails being sent through a computer – but, in January it was found 750,000 spam emails were sent from compromised smart fridges!

However these fridges were not infected using traditional methods like a Trojan Horse but, most of them have been ‘simply left open, so existing software running on them can be used by attackers’ said a spokesperson for Proofpoint who made the discovery. It would be interesting to know, how many people have smart fridges and how many people would buy one?

The US retailer ‘Target’ would be one of the recent examples of how malware can cause horrific consequences. Target’s point-of-sale (POS) system was infected with malware, causing as many as ‘40 million credit and debit card details and 70 million customers’ personal details being stolen in a cyber-attack!

This POS malware attack has caused financial losses, decrease in brand reputation and consumer confidence. In a recent press release issued by Target due to the attacks they had to reviewed their forecasts, predicting a 2% – 6% decrease in sales for this quarter and whether it is directly related to the data breach or not, Target also stated there will be store closures in May.

Target’s incident shows being a victim can have an impact on profits, consumer confidence and brand reputation. A malware breach on this scale is not something that a company can recover from overnight and it can potentially have long-term implications but, only the coming months will reveal the true scale of the consequences for Target.

The consequences of being victims of spam, malware, viruses and phishing is never a good one. In general the motive is simple – cybercriminals want to obtain business data and make money! So, be vigilant and make sure your systems are protected.

To discuss methods of protection against malicious software contact us today.

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