Hackers turn to 'silent stealing' in bid to exploit home workers

Cyber criminals are abandoning large-scale heists in favour of scams that earn them significantly smaller amounts of money

Cyber criminals are abandoning huge money heists in favour of small-scale scams that targeting individuals working from home during the pandemic.

This is according to a new report by the Royal United Services Institute (RUSI) which reports that cyber fraudsters have reinvented themselves during the pandemic.

Dubbed “silent stealing”, the new go-to tactic is based on “a working hypothesis that criminals are going down market”. 

The RUSI report states that, although “trying to steal £10 million from a bank is an option”, cyber criminals are opting to carry multiple heists for significantly smaller amounts of money.

“Stealing £10 a hundred thousand times is going to give you a good return and probably go below the radar,” says the report. “Are you going to call Action Fraud or your bank in the case where you lose £10?” 

For many, the answer is no, likely due to fears of not being taken seriously or a simple lack of time to report the theft.

The report also warns that those who have taken to working from home in recent months are especially vulnerable to being scammed, as criminals seek to exploit the cyber security vulnerabilities that have resulted from the shift to online/home working.

Related Resource

Improving cyber security for remote working

13 recommendations for security from any location

Download now

Recent research from Cisco found secure access to be the top cyber security challenge when supporting remote workers, with more than half of corporate laptops (56%) and personal devices (54%) being difficult to protect while employees are working remotely. Moreover, 60% of those surveyed said that they are worried about the privacy of remote collaboration tools.

Brett Beranek, VP & general manager of Security & Biometrics Line of Business at Nuance Communications, told IT Pro that the RUSI report’s findings “should come as no surprise”.

“Fraudsters don’t stop their crimes because of a pandemic. In fact, they often seize the immense change that comes with an event like this to ramp up their activity – changing tactics and targeting individuals and businesses whilst they are at their most vulnerable and least protected in order to manipulate their data and steal their personal information,” he said, before recommending the use of biometric technology in order to ensure a secure online presence.

Featured Resources

Choosing a collaboration platform

Eight questions every IT leader should ask

Download now

Performance benchmark: PostgreSQL/ MongoDB

Helping developers choose a database

Download now

Customer service vs. customer experience

Three-step guide to modern customer experience

Download now

Taking a proactive approach to cyber security

A complete guide to penetration testing

Download now

Recommended

Mastering endpoint security implementation
Security

Mastering endpoint security implementation

16 Apr 2021
US, UK say Russia was behind SolarWinds hack
cyber attacks

US, UK say Russia was behind SolarWinds hack

16 Apr 2021
1Password targets enterprise customers with Secrets Automation
IT infrastructure

1Password targets enterprise customers with Secrets Automation

14 Apr 2021
PowerShell threats increased over 200% last year
cyber security

PowerShell threats increased over 200% last year

14 Apr 2021

Most Popular

Microsoft is submerging servers in boiling liquid to prevent Teams outages
data centres

Microsoft is submerging servers in boiling liquid to prevent Teams outages

7 Apr 2021
How to find RAM speed, size and type
Laptops

How to find RAM speed, size and type

8 Apr 2021
UK exploring plans to launch its own digital currency
digital currency

UK exploring plans to launch its own digital currency

19 Apr 2021