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How to Protect Your Online Accounts from Hackers

 

Hackers are increasingly targeting individuals to steal cryptocurrency, access bank accounts, or engage in stalking. Although these attacks are relatively rare, it's crucial to know how to protect yourself if you suspect someone has accessed your email or social media accounts.

A few years ago, I wrote a guide to help people secure their accounts. Many companies provide tools to enhance account security, which you can use even before contacting their support teams.

Here, we break down steps you can take across various online services.

First, it's important to note that these methods don't guarantee complete security. If you still feel compromised, consider consulting a professional, especially if you are a journalist, dissident, activist, or someone at higher risk.

Enable multi-factor authentication (MFA) on all your accounts, or at least the most critical ones like email, banking, and social media. This directory provides instructions for enabling MFA on over 1,000 websites. You don't have to use the recommended MFA app; many alternatives are available.

Some services also offer physical security keys or passkeys stored in password managers, providing high-level protection against password-stealing malware and phishing attacks.

Securing Your Gmail Account

If you suspect your Gmail account has been compromised, scroll to the bottom of your inbox and click on "Last account activity" in the bottom right corner. Then click on "Details" to see all the locations where your Google account is active. If you notice any unfamiliar activity, such as logins from different countries, click on "Security Checkup." Here, you can see which devices your account is active on and review recent security activity.

If you spot suspicious activity, click on "See unfamiliar activity?" and change your password. Changing your password will sign you out of all devices except those used for verification and third-party apps you've granted access to. To sign out from those devices, visit Google Support and click on the link to view apps and services with third-party access.

Consider enabling Google’s Advanced Protection for enhanced security. This feature makes phishing and hacking more difficult but requires purchasing security keys. It's highly recommended for individuals at higher risk.

Remember, your email account is likely linked to other important accounts, so securing it is crucial.

Checking Microsoft Outlook Security

To check if your Microsoft Outlook account has been accessed by hackers, go to your Microsoft Account, click on "Security" in the left-hand menu, and then under "Sign-in activity," click on "View my activity." You'll see recent logins, the platform and device used, browser type, and IP address. If anything looks suspicious, click on "Learn how to make your account more secure," where you can change your password and find instructions for recovering a hacked or compromised account.

Given that your email is often linked to other critical accounts, securing it is vital.

Securing Your Yahoo Account

Yahoo also provides tools to check your account and sign-in activity for unusual signs of compromise. Go to your Yahoo My Account Overview or click on the icon with your initial next to the email icon on the top right corner, then click on "Manage your account." Next, click on "Review recent activity." You can see recent activity on your account, including password changes, phone numbers added, and connected devices with their IP addresses.

Since your email is likely linked to sensitive sites like your bank, social media, and healthcare portals, it's essential to secure it diligently.

By following these steps and using the tools provided by these services, you can enhance the security of your online accounts and protect yourself from potential threats

Rising Costs of Cyberattacks: Ransomware Victims Paying More, Finds Report

 

Indigo Books & Music continues to calculate the extensive expenses resulting from a ransomware attack that temporarily crippled its e-commerce platform, disrupted payment processing in retail stores for three days, and caused its website to go offline for approximately a month earlier this year.

During its most recent quarter, the retailer incurred a loss of $42.5 million, $19 million more than the same period last year. Indigo stated that although an exact figure is unavailable, the majority of this increased loss was attributed to the cyberattack.

Indigo made the decision not to pay a ransom to the perpetrators, who utilized LockBit, a type of software, to unlawfully gain access to its network. The company expressed concerns that paying the ransom could potentially fund terrorists or individuals on sanctions lists.

However, a recent report from Blakes, a law firm, reveals that most Canadian companies affected by ransomware attacks do comply with ransom demands, which have become considerably more costly for businesses compared to previous years.

Ransomware attacks occur when hackers use malware to infiltrate a company's IT systems, encrypt or steal information, and then demand payment in exchange for its return.

“The threat actors — the bad guys — are getting to be quite sophisticated in their attacks,” said Sunny Handa, a partner at Blakes who leads the firm’s technology practice.

“They are taking a lot of data, they are targeting sensitive data and they are publishing that data … they’re (also) hunting down the backups and they’re destroying backup systems.”

According to Handa, a breach counsel advising clients on cyberattacks, once a business's networks are encrypted by hackers, the company's operations are effectively paralyzed. This factor, along with the emergence of an industry centered around cyberattacks, contributes to the willingness of victims to pay ransoms to avoid extended disruptions to their operations.

Handa states that the value of ransom demands continues to rise as hackers invest more in their techniques and recognize the existence of a market where victims are willing to pay higher sums.

Blakes compiled its report based on publicly traded companies listed on the Toronto Stock Exchange that disclosed cyberattacks, as well as information from its own clients. The report covers breaches that occurred from September 1, 2021, to December 31, 2022.

Handa clarifies that the report does not encompass every data breach in Canada but aims to provide insights into trends within the industry. Although the exact number of incidents each year is unclear due to many companies not disclosing cyberattacks, Handa estimates the figure to be in the thousands.

Apart from ransom payments, companies face various financial consequences when dealing with data breaches. Handa highlights the "hard costs" associated with hiring professionals such as himself, forensic teams, and communication experts. Additionally, there are the "opportunity costs" stemming from lost business and the potential damage to a company's public image.

In its recent disclosure, Indigo revealed that it spent $5.2 million to address the ransomware attack, which included legal and professional fees, data remediation costs, hardware and software restoration, and losses related to inventory. Furthermore, the attack impeded sales processing and caused significant operational disruptions for the company.

Indigo has cyber insurance coverage and is currently working with its insurer to file claims, but it anticipates a delay between incurring costs and receiving insurance compensation.

Last week, Calgary-based Suncor experienced a cyberattack that is expected to result in substantial financial losses for the company.

Canada's Communications Security Establishment, the electronic spy agency, stated in its annual report last week that it successfully blocked 2.3 trillion "malicious actions" targeting the federal government throughout the previous fiscal year.