Verizon recently released its 2019 Data Breach Investigations Report (the “Report”) and it reveals some startling trends about the targets of cyber breaches. Based on an analysis of 41,686 security incidents, including 2,013 confirmed data breaches, the Report highlighted the increasing number of financially-motivated social engineering attacks. Instead of focusing on installing malware, these attacks focus on credential theft and personal information with the goal of getting unwitting individuals to transfer funds to the attackers. 71% of the breaches analyzed were financially motivated. Not surprisingly, a disproportionate amount of these attacks affect professional, healthcare, and financial industries. The Report is a good reminder that hackers are continuing to get at your company’s wallet in new and interesting ways, and, increasingly, are finding that the C-Suite is an easy way in.
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