Formjacking emerge a new cyber threat: Symantec’s report

In the growing digital world, what’s utmost important is the Online Security. Recent incident of data leaks on Ixigo and LPF cylinder distributor are supporting the statement. Symantec’s 2019 Internet Security Threat Report has published a report which lists the types of threat encountered on the Internet in the past year.

According to the report, the threat, Formjacking emerged as the greatest that had affected an average of 4,800 website per month in year 2018 and now become the favorite method. The victims are small and medium sized businesses that accept payments from customers online. However, the high profile brands are also targeted. Cybersecurity has recently blocked over 3.7 million formjacking attacked websites in 2018 and still many are left.

Cyber Criminals behind this threat inject malicious code into the targeted website that allows them to grab customers’ credit card details. On the underground markets, a single credit card yields up to $45. And so just 10 credit cards per compromised website could yields up to $2.2 million for cyber criminals per month. Total number of the stolen credit cards is over 380, 000.

Ransomware and Cryptojacking is declining

Ransomware allows the cybercriminals to encrypt the data by cryptographic and then blackmail its victims to pay ransom fee to supposedly restore the files. On the other hand, the cyptojacking is a form of attack where cyber criminals run coinminers on vicitms’ device without knowledge and use the CPU power to mine cryptocurrencies.

According to the Symantec report, the both ransomware and cryptojacking declined in year 2018. The ransomware has declined for the first since 2013 and down to 20% overall and on 12% for enterprises. Whereas; the Cryptojacking fell by 52% between January and December 2018 due to 90$ plunge in the value of cryptocurrencies.

Vulnerabilities of the IoT

It had been seen in the last year the challenges of the cloud security. The hackers focused on IoT. They seemed it as a soft entry point. The vulnerabilities on the IoT landscape make the cybercriminals to steal confidential details stored on the targeted system, to destroy the PC well performances and intercept SCADA communications, as per the report.