Access and Feeds

Security: Cyber Extortions on the Rise

By Dick Weisinger

Would you trade your day job for one paying $360,000/year? That’s the average pay for cybercriminals running extortion scams. The scams target executives, doctors and other high-worth individuals. The Jeff Bezos case may have just been the tip of extortion activity going on.

Rick Holland, CISO at Digital Shadows, said that “the research shows that cybercriminal groups are increasing their targeting of high net worth individuals and/or those that hold positions of power within companies.”

Rafael Amado, analyst at Digital Shadows, said that “the extortion landscape is broader and more diverse than any of us thought before we started.”

Executives at businesses processing confidential health and financial records are particularly vulnerable to these types of attacks. Large public and municipal organizations are also frequent targets of the scams.

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