DARK WEB ECONOMY BOOM
Businesses in almost every sector have been hard hit as a result of the coronavirus pandemic. And as lockdowns hopefully draw to an end, executives are trying to find ways to overcome economic challenges and budget shortfalls. Some businesses are teetering on the knife-edge of a doubtful global economic recovery. But one economy is booming and growing stronger every day. The dark web economy.
A DARK WEB RECESSION
Will the dark web economy undergo a recession? Not likely! Employment opportunities for cybercriminals on the dark web are on the increase. Some IT cybercrime experts claim that 90% of posts on popular dark web forums are from buyers looking to hire somebody for hacking services. Most of the offers, about 70%, are for website hacking. On the other hand, 21% are seeking to employ hackers to obtain specific client or user databases.
DESPERATE TIMES CALL FOR DESPERATE MEASURES
Sean Wright, a software application security lead, believes that many individuals are turning to cybercrime as a means to make ends meet. While companies continue to suffer in the wake of the pandemic, so do people, with millions placed on furlough or left unemployed. Wright told Computer Weekly:
“Unfortunately, many people have fallen on hard times, with many unable to find employment. While not an excuse, it’s understandable that some may turn to cybercrime to make some money to survive.”
Jake Moore, a cybersecurity specialist, added that the pandemic has given some people no option other than to turn to cybercrime. He spoke of how easy it is to access cybercrime employment opportunities, especially through Ransomware-as-a-Service and social media:
“Difficult times have generated desperate measures and when services such as ransomware as a service [RaaS] are so widely and easily available, it is understandable that numbers have increased and becoming more difficult to manage. Cybercrime has never been so easy to experiment with especially when services advertise openly on Instagram and other social networks. It is often marketed as low risk and sold with ways of avoiding being caught which simply amplifies the temptation. The risks, however, are still there.”
DARK WEB EMPLOYMENT RATES
The most popular form of dark web employment for hacking is to hijack online retail payment facilities. Buyers will pay anything from $50 to $2,000 for hacked databases from e-tailers. A cybercrook can earn as much as $10,000 for hacking a website that has lucrative traffic. Boutique hacking, which involves accessing a custom database, pays premium rates of up to $20,000. That’s not small change.
PROTECT YOURSELF FROM THE DARK WEB ECONOMY
Truth be told, 60% of businesses go bust after a serious cyberattack, so you need to protect yourself, and sooner rather than later. These are 3 must-haves needed for your business to be secure from dark web hacking:
- 24/7/365 always-on dark web monitoring with immediate alerts
- multifactor authentication to protect your valuable data and which stops approximately 99% of password-based cybercrime in its tracks
- protect your business from phishing by training your employees so that they are always aware of the latest threats