The Importance of Digital Security
Those of us who make our living in the digital world know how important digital security is. It is vital to the security of our online identity. Digital identity theft has the potential to result in financial consequences. Digital security can also help prevent break-ins on our personal gadgets.
In addition to personal identity data, hackers also target health data, including medical history and prescription drugs. This information is precious to high-rolling cybercriminals, who can use it to file false insurance claims or order prescription drugs.
A recent article in Wired Magazine reported that over seven million data records were compromised daily. Cyber attacks are more advanced than ever. The article notes that over 80,000 attacks took place daily in 2018. In the first quarter of 2020, the Internet Crime Complaint Center received 791,790 complaints. This represents an increase of 69% over the previous year.
Digital identity theft can also cause emotional and financial harm. For example, hackers can open credit card accounts in someone else’s name. Some hackers advertise their stolen data on the deep web.
Criminals also use personal information for social engineering. For instance, they advertise stolen information on social media, or threaten to harm employees or executives. Cyber criminals also sell exploit kits on the deep web.
In the first quarter of 2020, cyber fraud and abuse was reported to have increased by 20 percent. According to the Internet Crime Complaint Center, losses reached $4 billion.