Cybercriminals have improved their bait to mount sophisticated attacks against targets of every size in every industry. An economic downturn, COVID-19 anxiety, and the new challenges of securing a remote workforce have opened up new waters for bad actors to trawl, and as these phishing facts show, their catch has been plentiful.

With people hungry for news and information about the Coronavirus (COVID-19) pandemic, cybercriminals are ready to take advantage of everyone’s anxiety and seize this opportunity to steal data and compromise systems through phishing attacks that use especially devious Coronavirus-themed tricks. Here's the top three ways they're cashing in.

What is security compliance?

Being security compliant means your IT protocols follow prevailing local and international industry standards, as well as adhere to any laws that apply in your locality. Examples include adhering to local privacy and security of personal information laws if, for example, you record your customers' personal and/or financial details. There are also global standards, such as the ISO/IEC 27000 family, that relate to the security of information management systems and are considered best practice.           

These standards are there to help organizations keep their information assets secure. Your business could be subject to fines or worse if you don't act to adequately protect your data assets.

Cybersecurity is now a game of attack, no defense.

It's said that the best defense is a good offense. This is particularly true in cybersecurity, where the average cost of a security breach in the U.S. is more than $200 per compromised item, according to a 2017 Ponemon Study. Considering how many data items can be at risk in the event of a breach, this could rack up quite a hefty bill. The need for proactive, rather than reactive security hasn't gone unnoticed. Gartner predicts global IT security spending to balloon from $90 billion in 2017, to $113 billion in 2020. Here's how businesses can stay one step ahead in a landscape of constantly evolving threats.

Security experts around the world agree: 2017 was a terrible year for cybercrimes. WannaCry was shutting down about 2 million computers every hour and many victims who paid the ransom didn't even get access to their computers. These attacks are becoming more common and are targeting your money. It's scary and unfortunately the New Year is likely going to be worse for cybercrime.