It’s a fact that seems obvious at first, but jarring when put into context: cybercrime is a lucrative business that continues to grow at a remarkable rate, according to the authors of a sweeping overview of major security incidents over the past year.
Eighty-six percent of the data breaches in 2019 were motivated by money, according to Verizon’s annual Data Breach Investigation Report, which was released Tuesday. While the techniques have shifted, the figure is a significant uptick from the 71% of breaches that were financially motivated in 2018.
“Attackers are going to look anywhere they can to generate revenue,” said Gabriel Bassett, senior information security data scientist at Verizon, adding that scammers are going about this tactic by re-using stolen usernames and passwords, and experimenting with email scams.
Verizon’s DBIR has emerged as a reliable benchmark in assessing corporate cybersecurity threats and defenses. This year’s iteration analyzed roughly 157,000 security incidents which affected Verizon clients operating in 16 different industries.
Personal data theft was the most common type of incident that Verizon observed. Some 37% of breaches involved credentials, while 22% of incidents involving phishing. Stolen usernames and passwords, which grant attackers access to restricted systems, were used more than malware.
By breaking into corporate accounts with usernames and credentials, hackers can avoid tripping antivirus programs which are likely to thwart attacks, Bassett said.
“The human is front and center as the cause of the majority of these breaches,” he said. “Personal data was taken in 58% of breaches ..
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