- Account credentials as a sought-after item in cybercrime – a single stolen set can jeopardize whole networks.
- The 2023 Verizon Data Breach Investigation Report states external parties accounted for 83 percent of breaches from Nov 2021 to Oct 2022.
- 49 percent of these breaches were facilitated by the abuse of identity, accentuating the role of stolen credentials.
Account Credentials: The Ticket to Cybercrime Town
What’s stealing the show in the cybercrime world? Nope, not a fancy new hacking algorithm, but good ol’ account credentials. These bad boys are pretty much like the keys to the kingdom in the digital world. Once a cyber-thief gets a hold of one of these, entire networks of organizations can be at risk. That’s like leaving your house keys with a cat burglar – definitely not the smartest move!
Findings From the Verizon Data Breach Investigation Report
The 2023 Verizon Data Breach Investigation Report emphasized this vulnerability. It revealed that external parties, or as you might know them – “the folks we definitely don’t want snooping around our data,” were accountable for a whopping 83 percent of data breaches that occurred between November 2021 and October 2022. Yes, as the old saying goes, “Keep your friends close, but keep your data closer.”
Identity Abuse: A Gateway to Data Breaches
What’s even more alarming is that 49 percent of these breaches were orchestrated by abusing identity – that’s like almost half the class cheating on a test! This statistical tidbit underscores the significant role played by stolen credentials in the world of security breaches.
The seemingly mundane, but vitally important, account credentials, have become a hot commodity in the underworld of cybercrime. A single pair of stolen credentials can indeed expose an entire network, further highlighting the need for robust cybersecurity practices. As stated in the 2023 Verizon Data Breach Investigation Report, the majority of data breaches are facilitated by external parties, with a substantial chunk of these breaches abusing identity or misusing stolen credentials. So remember, in this game of data hide and seek, don’t let your credentials be the ones found!
Original Article: https://thehackernews.com/2023/11/how-hackers-phish-for-your-users.html