With the spread of COVID-19 around the whole world, lives are being lost and economies are taking a devastating hit. Therefore, it is also having residual effects on the cybersecurity landscape.
Cyber-attacks and threats are on the increase as cybercriminals are deploying coronavirus-related phishing scams and website. While more and more people are working from home to stop the spread of COVID-19, it is opening companies up to a greater risk of computer virus as people are connecting to networks and servers from numerous points of entry. However, at the same time, cybersecurity firms are being affected by the downturn in the economy and many large firms saw their stock values fall on Wall Street.
The Rise in Coronavirus-Related Scams and Their Effect on Cybersecurity
People all over the world are seeking out information on the coronavirus. Cybercriminals know this so they are using it as an opportunity to infiltrate people’s computers through malware. The most common coronavirus scams are phishing emails that appear to be from a reliable source with facts relating to COVID-19 but are fake and have links with viruses. Other emails will claim to be about a cure for COVID-19 or have products for sale to help prevent infection, but instead, they infect the user’s computer as soon as the email is opened or its link is clicked. Cybercriminals are also buying and setting up website domains that appear to be legit but are not and they can either infect a user with malware or get them to provide information through forms.
While people must be diligent to identify these scams on their own, it is also increasing the need for cybersecurity experts. Experts can help people spot the fake emails and websites and can also help companies establish firewalls and managed incident detection and response plans to deal with the malware in the event an employee clicks on a bad link.
At-Home Workers Showing Company’s Cybersecurity Vulnerabilities
As the coronavirus proliferates throughout the country and world, more and more businesses are closing physical locations for weeks to comply with recommendations from health departments. Instead, they are shifting their employees remote and allowing them to telecommute from home. This means a lot of people utilizing the internet to do their daily work while also using their own personal devices to do so in some cases. All of this exposes the corporate network to more threats either remotely through server access or upon return to the office.
There are ways companies can increase their cybersecurity and prepare for the influx of remote workers. Cybersecurity teams should ensure all remote employees are only accessing company networks or servers through a virtual private network (VPN). A VPN encrypts the data being transferred back and forth to prevent cybercriminals from accessing the network and intercepting login credentials or sensitive data. In addition, make sure your remote workers are trained in your company’s cybersecurity policies. Remote employees should change passwords and be warned of the latest scams and phishing emails. Also, enact a policy of how company-owned devices should be used in the home. Limit personal functions as much as possible to limit vulnerabilities through email and internet usage.
Businesses Suffer, Including Cybersecurity Firms
Even with the need for increased cybersecurity during these tough times, cybersecurity firms on the New York Stock Exchange recently saw their stock value drop.
However, according to Art Coviello, a partner at Rally Ventures who formerly served as CEO of RSA, believes the long-term outlook still is good. Even after the coronavirus crisis, companies will continue to embrace “the long-term enterprise adoption of technologies such as cloud computing, agile development, operation technology, internet of things devices and 5G will continue to serve as catalysts for security companies, boosting their bottom lines,” according to the article Cybersecurity Sector Faces Reckoning After Coronavirus Hits.
Also, with what we have already outlined above, experts expect firms to bounce back quickly as companies need to reevaluate and increase their cybersecurity products and processes.
What Can We Learn From COVID-19?
Just as we won’t know the full effect of coronavirus on the country and world for weeks or months, the same can be said for COVID-19-related breaches and scams. Partly because breaches occurring now may not be detected for a month or longer, and with IT and cybersecurity teams spending a lot more time ensuring remote workers are able to connect to company systems, they may not have as much time to focus on incident detection and response.
Working with a third-party firm during this pandemic may save your internal staff additional stress while also allowing 24/7/365 monitoring done remotely. SubRosa Cyber Solutions offers a full suite of cybersecurity tools and expertise to help protect your company against cybercriminals. Ensure your company stays safe from computer viruses and contact SubRosa today!
Contact us today to protect your company!