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Cyberthreat News

Cyberthreat News

The security industry is on edge: a host of new and evolving cyberattacks has put the data and assets of businesses, governments and individuals at constant risk. From ransomware to phishing, hacktivists to hackers working for nation states, a myriad of attacks has cybersecurity professionals on high alert.

In a time of COVID-19 pandemic contested elections, spiking sociopolitical unrest and global political turmoil, cyberattacks have been on the rise. This is especially true in the financial sector, where unprecedented events have created a unique environment where threats are not only financially motivated but also could have devastating effects on the entire global economy and society.

While a major cyberattack on the world’s financial systems is considered not only inevitable but potentially catastrophic, it is still unclear who is responsible for protecting the global system from such an attack. As the global economy becomes increasingly reliant on digital infrastructure, attackers are able to steal information that gives them insight into the networks of financial institutions and operations – which can be used to launch disruptive or destructive attacks or sold to other threat actors.

Whether it’s a third-party breach that exposes 214 million Facebook, Instagram and LinkedIn accounts or a hacked child’s connected toy that leads to a privacy disaster, the proliferation of consumer IoT devices is increasing the number of entry points for cyberattacks. On this week’s Cyberthreat News, we look at the latest cyberattacks and their impacts on organizations, individuals and the global economy.