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Cybersecurity News Roundup | October 2020

Cybersecurity News Roundup | October 2020

Cyber attacks become more pervasive and sophisticated every day. Check out these recent cybersecurity news stories to stay informed of the evolving tactics and strategies that can be used to compromise your business.

Massive attack compromises data from Magento 1.0 stores

A recent Magecart attack targeted 2,000 Magento 1.0 stores and compromised the data of thousands of customers. Because Magento 1.0 no longer receives software updates as of June 2020, they are an attractive target to attackers. Site operators are encouraged to update their systems to the latest version of Magento as soon as possible.

1 in 4 global organizations have secured cardholder data

A majority of global organizations lack long-term payment security strategy and execution, according to the Verizon Business 2020 Payment Security Report. With 9 out of 10 data breaches being financially motivated, this widespread failure to adequately manage payment security puts potentially billions of customers at risk.

Phishing and ransomware attempts are up 64% in Q2 2020

According to Arctic Wolf’s 2020 Security Operations Annual Report, there was a 64% increase  in phishing and ransomware attempts from Q1 to Q2 this year. Cyber attackers used the coronavirus pandemic as a lure to steal data from users. The banking sector saw the biggest rise in these kinds of attacks, with a 520% increase. Additionally, the report notes a 429% growth in corporate credentials with plaintext passwords that have been exposed on the dark web.

Emotet cyberattacks have reemerged

Since July, CISA has seen a significant uptick in Emotet phishing emails targeting state and local governments after a brief dormant period that began in February. Compromised Word documents were attached to phishing emails as initial insertion vectors. To secure against Emotet attacks, CISA recommends applying protocols that block suspicious attachments, using antivirus software, and blocking suspicious IPs.

The United States is the most expensive place in the world to experience a data breach

According to the annual Cost of a Data Breach Report by IBM and the Ponemon Institute, the United States is the most expensive place in the world to experience a data breach, with remediation costs averaging at $8.64 million, more than twice the global average of $3.86 million. Additionally, the average time to identify and contain a breach is now 280 days.

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Alysse Phipps

Alysse Phipps

As a copywriter at TrustedSite, Alysse works to communicate the importance of building trust on ecommerce websites. When she's not writing new content, Alysse enjoys walking her dog, bowling, & yoga!

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Cybersecurity News Roundup | October 2020
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