According to a new Statista Market Insights report, cybercrime is rising at an unprecedented pace. Approximately one-third of the United States' GDP or about 24 times Apple's annual revenue in 2023 will be incurred as a result of cyberattacks, according to a new survey from Statista Market Insights. A similar study from Statista Market Insights found that cybercrime costs have risen by 245% between 2018 and 2020, increasing from $860 billion to $2.95 trillion.
With the spread of the pandemic, the cost of health care has more than doubled to $5.49 trillion in 2021 and is expected to increase by $1 trillion annually in 2023 to $8.15 trillion. In addition to impacting businesses and governments, cybercrime has become one of the world's largest illegal economies, as well as the everyday people of the world. Cyberattacks are known for causing financial losses such as ransom payments, loss of productivity, system downtime and data theft, among others.
Contributing factors
In terms of attack surfaces, IoT devices are providing cybercriminals with an increasingly large attack surface, increasing the number of potential victims and supplying them with a more relevant attack surface over time. There is no reason for Mac users to be excluded from this. There was an increase of 50% in new Mac malware families in 2023 in Jamf's report.
The number of instances of malware that can be found within each of these families could be hundreds. With the growing number of users of Macs, cybercriminals are more and more interested in targeting it as an easy target.
It is important to keep in mind that geopolitics plays a significant role in cyberattacks as many countries use them for strategic advantage, disruption of critical infrastructure, and intelligence gathering.
A heightened escalation in the number of state-sponsored attacks is taking place as a result of the conflict between Ukraine and Israel.
A significant number of cybersecurity jobs have gone unfilled as a result of the skills shortage we're going through today. Due to this shortage, many cybersecurity positions have gone unfilled. It will therefore be more difficult to monitor and defend against specific threats as there will be fewer professionals.
Moreover, the shortage of skilled professionals can also increase the workload for employees who are already working, so that productivity can be negatively impacted. Further to this, employees are burned out as a result of their jobs.
Threat actors count on this.
In the world of ransomware-as-a-service (RaaS), there are very few barriers to entry, and this has made it very popular thanks to a combination of tough economic factors, swift financial gains, and little technical knowledge.
Operators develop the software under this model and affiliates pay to use pre-built tools and packages to launch attacks on the network. Each affiliate pays a fee for each attack they launch. A ransomware attack can be carried out by non-programmers lacking the skills to develop and deploy their ransomware.
There is no shortage of RaaS kits available on the dark web, but they aren't always the best.
Due to a simple lack of awareness, the risks and consequences associated with cyberattacks remain undetected by many individuals and organizations, making them vulnerable to cybercrime. It was found that 40% of Jamf's mobile users and 39% of the organizations in their annual trends report are running on a device that is known to have vulnerabilities, according to the report.
In light of recent incidents regarding a popular Apple device management platform, it has become evident that there remains a notable lack of awareness concerning the security measures necessary to protect Mac devices. Ensuring the security of the Mac is imperative in safeguarding against potential threats such as malware and phishing attacks. Here are some essential steps to bolster the security of the Mac:
1. Keep the device up-to-date: It is crucial to regularly update the Mac's operating system to incorporate the latest security patches. By staying current with updates, users can effectively address known vulnerabilities that may be exploited by malware.
2. Utilize antivirus software: Despite common misconceptions, Macs are not impervious to malware. Therefore, employing reputable antivirus software is highly recommended. Tools such as Malwarebytes offer free applications for individual users, capable of detecting and removing potential threats. Additionally, MacPaw’s CleanMyMac X now features a malware removal tool powered by MoonLock, enhancing protection against malicious software.
3. Exercise caution when clicking: Email remains a primary vector for malware distribution, with phishing attacks experiencing a significant rise in success rates. According to recent reports, phishing success rates increased from 1% in 2022 to 9% in 2023. Hence, exercising caution and scepticism when interacting with email links and attachments is essential to mitigate the risk of falling victim to such attacks.
4. Enable a firewall: Enabling the built-in firewall on the Mac is an effective measure to prevent the acceptance of unauthorized connections and services. By managing both incoming and outgoing connections, the firewall helps fortify the device's defences against potential threats.
5. Use strong, unique passwords: Employing robust and distinctive passwords is imperative for bolstering the security of the Mac. Avoid using easily guessable passwords, such as common phrases or pet names followed by predictable characters. Instead, opt for complex combinations of letters, numbers, and symbols to enhance password strength and resilience against unauthorized access.
6. Enable disk encryption: Leveraging features such as FileVault, which encrypts all user data stored on the disk in real-time, enhances the security of sensitive information on the Mac. In the event of device loss or theft, disk encryption ensures that the data remains inaccessible to unauthorized individuals, thereby safeguarding privacy and confidentiality.
7. Limit user privileges: Restricting user privileges is crucial in preventing unauthorized software installations and minimizing the potential impact of malware infections. By limiting user permissions, users can effectively mitigate the risks associated with malicious activities and enhance overall device security.
In summary, prioritizing the implementation of robust security measures is paramount in safeguarding the Mac against evolving threats. By adopting proactive strategies such as keeping the device updated, utilizing antivirus software, exercising caution when interacting with emails, enabling firewalls, employing strong passwords, enabling disk encryption, and limiting user privileges, users can significantly enhance the security posture of the Mac and protect against potential vulnerabilities and cyber threats.
