Social Media Platforms are just not limited to social interactions, the rapid expansion of social media has increasingly become a tool for marketers and companies to reach out to targeted audiences. Away from Social Media websites have also become a platform for hackers to cooperate closely and group with each other to launch major attacks, an industry expert has revealed.
At an event, International Vice-president of Information Systems Audit and Control Association (ISACA) – R. Vittal Raj said, “The cyber-crime scenario is turning murkier day by day… and social media is providing a fantastic platform for these people (cyber criminals).” Raj further added that hackers may not be knowing each other, but when it comes to money they share their skills.
The ISACA VP added that security professionals in organizations are placing more and more effort to conflict hackers, but cyber criminals are residing one step ahead and coming up with new tactics to find loopholes in IT system.
Mr. Raj also talked about the risk of Advance Persistent Threats (APTs) and how hackers are increasingly becoming patient waiting for the right opportunity to strike. He said, “We see size and complexity of attacks never seen before… this is a new trend in organized crime.”
R. Vittal Raj also said that there has been a remarkable jump in cyber attacks ever since 2013, compared to 2012. McAfee is valuing the cost of malicious cyber activity in 2013 in the range of $300 billion to $1 trillion.