One can easily predict that over the coming years we are going to see a rather large escalation in Cyber Attacks and online Fraud/Theft. There are many reasons for this, but much of it is due to the number of highly sophisticated State players actively involved in this activity. As the situation expands, so inevitably will organised crime, who are already getting access to these very same high end "hacking" tools.
First of all we need to face the following reality:
1. There is not a single 100% secure Cyber protection mechanism or system out there. Never has been!!
2. The "Online" World is all about Profits, so protecting your data or personal information is not going to be their priority. Even if they could use a highly secure system/technology, they generally are reluctant to spend on it!
3. Banks and the Financial Service Industry are simply not doing that much better. A number of them have been found wanting in this regard. Even some State controlled “Reserve Banks” have had a rather poor record. The most famous of these even involved hacking into the so called “bullet proof” SWIFT banking system: You can read all about it here.
4. Cyber technology is constantly changing, so it is not well understood. Very few Board Level Executives even have a basic understanding of the risks involved, nor do they wish to get their hands dirty or take real responsibility. What should be a Key and Core Governance/Risk issue is more often or not pushed “down” to the IT Department who themselves are not always aware of the business risks.
5. Since the Covid pandemic when many companies moved a vast treasure trove of data and accessibility online, Cyber Criminals have figured out that vast fortunes are to be made. Whilst many are still focused on the “psychology” involved in soft talking employees out of access and passwords etc., the reality is that the technology itself has evolved to the point where crime syndicates are fast catching up with the “State Players”.
6. Certain Rouge States are even using their Cyber tools as an easy method of State Funding. i.e. Fingers have been pointed at North Korea as an example of this.
So what can we do about it? Here are some obvious changes we should all be implementing:
1. Never provide any personal detail online unless you absolutely HAVE to! You may think that your online retailer will keep your residential address and contact number etc. safe and secure,but they generally don’t and it’s not a matter of if, but when that data will be stolen and used for all the wrong reasons.
2. Never use your Credit or Debit card for online purchases EVER!! That era is well and truly over. To continue doing so is pure naïveté. Besides, there is no longer any excuse to do that any more. With the likes of Google Pay or Samsung Pay from the Technology sector, or better still, with secure products like MasterPass from the Banking Industry, there is simply no need to put yourself at high risk any more. Although none are 100% guaranteed...they are far more secure because 3rd party vendors will never get too see or know anything about your card details! In fact every time you transact online, the digital “codes” change so that even if someone happens to establish your virtual card number, they can’t use them again anyway.
3. Never disclose any detail over the phone. Even if your bank calls you and is able to confirm your private details – It’s going to be a Fraud.... your Bank will never call you for that anyway. Simply hang up right away! If you are concerned, go to your nearest bank branch or initiate the call to them yourself! Elderly people are usually the target for these kinds of criminal activities as they often are not technically savvy.
4. Never write down passwords or use the same passwords on multiple sites. Because pieces of paper can easily be found, or insecure sites easily hacked. Rather use a Password Manager like LastPass which is free and robust. You then only have to remember a single password. Whilst not 100% either (nothing is), it is far more secure than relying on lists and written codes. If you insist on writing your passwords on paper... be sure to obscure so that no one but you knows to which site it belongs.
5. Computer Hygiene: Always make sure your Operating System is fully patched and up to date. Same goes for your Browser & Email Software etc... as well as your Mobile Apps. It’s common sense... yet so many people simply don’t make the effort to do it. Same applies to Backing Up ALL your computer data on a regular basis too. Should you be hit by Ransomware or other destructive Malware, you can always then restore your system to a previous point in time. These are all time consuming chores, yet well worth the effort!
6. Some Tips: Never use Public Wi-Fi. Use a secure Browser like Firefox. Use a Browser Blocker add-on like uBlock Origin. Use security software from the likes of Avira or MalwareBytes etc. (I use both). Even the free version will provide you with a decent level of protection.
Whilst there is no Silver Bullet to solve the Cyber Threats in the 21st century, mitigation of risk usually boils down to simple Common Sense! So you really can limit your exposure with only a little effort and thought – Good Luck!
